Nasdaq Boosts AI Performance with NVIDIA NeMo Retriever and NIM

Financial Services

How Nasdaq Is Driving Faster Insights and Smarter Investment Decisions with Scalable AI Innovation

Nasdaq, a leader in capital markets since 1971, has built an AI platform to improve performance, accuracy, and cost efficiency. The platform leverages NVIDIA NeMo™ Retriever and NVIDIA NIM™ microservices, part of NVIDIA AI Enterprise, to enhance generative AI capabilities. This results in faster and more accurate retrieval tasks, reduced expenses, and optimized resource usage.

Key Achievements:

• 30% Faster Response Times: Enhanced processing and retrieval capabilities speed up interactions.
• 30% Improved Accuracy: Chatbots and conversational interfaces see a significant boost in accuracy.
• Real-Time Feedback: NVIDIA NIM provides real-time performance insights, enabling swift issue resolution.

Using AI to Enhance Operations, Services, and Products

Nasdaq’s AI strategy focuses on improving both internal operations and external products. The platform integrates AI at each product level to enhance functionality and user experience. Michael O’Rourke, senior vice president and head of AI and emerging technology at Nasdaq, emphasized AI’s role in unifying data across businesses and technologies to build better products and services.

Global Hackathons Accelerate AI Platform Development

Nasdaq conducted four global hackathons to test the platform’s potential. These events generated hundreds of hacks, providing valuable feedback and accelerating development. The hackathons highlighted the need for faster data indexing and improved accuracy, leading to a 30% improvement in speed and better results.

Future Use Cases

Nasdaq plans to expand its AI platform across its vast data ecosystem, which includes over 160 petabytes of data. Future use cases include:

• NVIDIA NeMo Retriever extraction: Offloading bespoke regulatory pipeline processes.
• Multimodal processing: Handling text and image data more efficiently.
• GPU-based vector store: Optimizing large dataset handling with NVIDIA RAPIDS™ cuVS-accelerated vector stores.

"Improving accuracy had a big impact on groups. Moving to NeMo Retriever and NIM allowed us to build up more engagement with the platform, because it was coming back faster—so this meant our users can do more meaningful work, and use the platform as part of their daily workflows."

Michael O’Rourke Senior Vice President, Head of AI and Emerging Technology at Nasdaq

Discover how NVIDIA NeMo Retriever and NIM can power AI initiatives.