Deutsche Bank has invested in German artificial intelligence (AI) startup Aleph Alpha. The bank aims to leverage AI for operational efficiency and regulatory compliance.

Deutsche Bank: Perfect Partner for AI Innovation Strategy

German financial services giant Deutsche Bank has joined artificial intelligence (AI) startup Aleph Alpha as a strategic investor and partner. As part of the arrangement, Deutsche Bank will acquire the shares of early investors 468 Capital and Lakestar. While the size of Deutsche Bank’s stake in Aleph Alpha has not been disclosed, a local newspaper estimates it to be under 2%.

According to a German news service report, Aleph Alpha received an investment exceeding $500 million in 2023. The investment was expected to help Aleph Alpha, Germany’s largest AI startup, compete with U.S. tech giants like Google and Microsoft. However, following this funding round, doubts persisted about Aleph Alpha‘s ability to rival American corporations.

Commenting on Deutsche Bank’s partnership, Jonas Andrulis, Aleph Alpha’s founder and CEO, said:

Deutsche Bank is the perfect partner for our AI innovation strategy in one of our most important industries.

Andrulis added that the bank’s inclusion in the startup’s shareholder group will provide Aleph Alpha with valuable insights into industry requirements and opportunities. According to the report, some of Aleph Alpha’s existing shareholders have increased their stakes, with venture capital firm Earlybird now holding nearly 16% of the startup’s shares.

Meanwhile, Bernd Leukert, Chief Technology, Data, and Innovation Officer at Deutsche Bank, said the bank’s investment in Aleph Alpha will allow the startup to benefit not only from a capital investment but also from Deutsche Bank’s deep industry knowledge and extensive network.

Leukert also revealed that Deutsche Bank is participating in a pilot project leveraging Aleph Alpha’s generative AI to streamline compliance with the new EU regulation DORA. He described this as a prime example of how AI can enhance efficiency and accuracy in complex regulatory landscapes.
#binance #wendy #bitcoin #eth #web3 $BTC $ETH $SOL