New York’s Department of Financial Services (DFS) is looking to procure a supercomputer dedicated to running artificial intelligence systems.

New York
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Reported by Bloomberg, the DFS hopes that by doing so, it can gain a deeper understanding of the technology and create effective regulations.

In addition to looking to acquire the hardware, the DFS will be hiring professionals to manage the system and run the programs.

“When I say the DFS is looking at AI and machine learning it’s not limited to how we evaluate private sector use of those tools,” said New York Department of Financial Services superintendent Adrienne Harris at the Point Zero Forum for financial regulation in Zurich. She said the state is looking to obtain the hardware and hire professionals to run the programs.

“My vision is for DFS and other regulators to become the regulator of the future, meaning that we are embracing reg tech to the public advantage, using data-driven approaches that leverage data analytics to enhance our ability to predict and respond to events in the marketplace.”

According to the World Economic Forum, the supercomputer market is expected to grow at a compound annual rate of 9.5 percent from 2021 to 2026, partially motivated by the need to handle larger data sets and train and operate AI.

“All of the major players in private tech and software are moving toward AI,” said Harris. “That’s no secret, but it would be a huge missed opportunity for regulators to not make use of these tools as well.”

Several AI-dedicated supercomputers have been announced or deployed so far this year. Last month alone saw Petrobras deploy the Tatu system in Brazil featuring 224 A100 GPUs from Nvidia, and Accenture deploy an AI-dedicated SambaNova system.

Elon Musk also purchased 10,000 GPUs for a Twitter AI project in April of this year, despite signing an open letter warning about the potential dangers of the technology a month previously.