Data Management lab is part of GAIA-X to enable the data sovereignty in the financial sector
The Data Management lab of TU Darmstadt is part of the new large-scale project SafeFBDC, which is funded as part of the AI Innovation Competition of the German Federal Ministry for Economic Affairs and Energy (BMWi).
The essential goal of SafeFBDC is to develop a Financial Big Data Cluster (FBDC) to provide the data sovereignty in the financial sector. This is a cloud-based financial data platform that bundles data from different sources and provides suitable AI tools for data analysis on the financial data. At the core of the project is the development of new AI-based concepts, reference data models and data analysis methods, as well as the final evaluation of AI algorithms along five application scenarios from the financial industry.
Further details on the SafeFBDC project were recently announced by TechQuartier Frankfurt as project coordinator and the Hessian Ministry of Economics. SafeFBDC is part of the European GAIA-X initiative, a project to build a secure and trusted data infrastructure in Europe. The German Federal Ministry of Economics and Technology is funding the development of SafeFBDC with approximately ten million euros. The TU Darmstadt has a share of around 1.7 million euros in the overall project.