The world of financial services is undergoing a seismic shift, driven by the relentless advance of generative artificial intelligence and the pivotal role of data as its lifeblood. From Wall Street to Silicon Valley, the integration of data as a product in AI is no longer a distant dream but a tangible reality reshaping the industry.

At the AWS Financial Services Symposium in New York City, experts and innovators gathered today to showcase how the practical application of AI is transforming financial services, with data taking center stage as the most valuable product of this technological revolution.

“Generative AI is changing the application area, and you start to see real practical examples where data is the product, data is the critical ingredient for generative AI,” said John Furrier (pictured, right), executive analyst at theCUBE Research, in a post on X.

Furrier, who is on-site at today’s AWS Financial Services Symposium, along with his co-analyst Savannah Peterson (left), are providing the latest updates. Be sure to follow our analyst insights, happening right now on theCUBE’s X page. TheCUBE will also bring you in-depth interviews on June 11 with industry experts from Amazon Web Services Inc., Nvidia Corp., Databricks Inc., MongoDB Inc. and many more. (* Disclosure below.)

Data as a product in AI

What was once theoretical is now practical, with AI applications making significant strides. These developments are not just incremental; they are revolutionizing how data is used and understood within the industry.

Companies such as Databricks are saying, “‘We’re going to have the technical metadata, the operational metadata, all the governance metadata, and we’re going to govern any storage format, irrespective of where it is,’” said Dave Vellante, chief analyst at theCUBE Research, in a recent theCUBE Pod.

At the heart of this revolution is the concept of data as a product in AI. In the realm of generative AI, data is no longer just a byproduct of business operations but a critical ingredient. The capability to harness and utilize vast amounts of data effectively is what sets leading organizations apart. It’s about recognizing that data is the foundation upon which the most sophisticated AI applications are built, according to Furrier.

“People are building large-scale systems and applications,” he said. “It’s all about the data. It’s all about practical generative AI, and theCUBE is bringing you all the data generating all the action here in New York City.”

Tune in to theCUBE’s continuing coverage of the AWS Financial Services Symposium, as well as our coverage of how data is becoming a crucial aspect in the development of generative AI on theCUBE Pod. Plus, watch our news team for up-to-date news, including reporting from our on-site editors. Also, check out theCUBE’s X page for our exclusive event analysis.

Watch John Furrier’s analyst hot takes, part of SiliconANGLE’s and theCUBE Research’s coverage of AWS Financial Services Symposium.

(* Disclosure: TheCUBE is a paid media partner for the AWS Financial Services Symposium. Neither Amazon Web Services Inc., the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE