Radical innovation sometimes needs to be rebuild from the bottom up. Businesses that redraw the landscape, creating needs we never knew we had are often only possible with technology jumps and not incremental innovation.Whatever you did before, you might find better ways by utilizing new technologies - you put more intelligence in your foundations and relentlessly improve everything. And if you have made your products and processes innovative you might think of unleashing the innovation and position yourself in two-sided markets. You always were generous to customers, now you become generous to creative copiers.
At UnRisk we have transferred high-end numerical schemes from complex technical systems to finance. We introduces adaptive integration techniques and finite element extensions that were not common in financial circles. We act as lumberjacks, saying trees for solving financial PDEs are better as firewoods. But also naive finite difference applications ...
We integrated those numerically optimized C++ libraries into Mathematica and accelerated our development process drastically: The Short Story Of Being Lucky.
2 years ago we foresaw that utilizing the new computing muscles can reboot the innovative spiral. And it is not just reimplementation - we were engaged to find even better ways to solve the most complex tasks in computational finance. Four little NVIDIA Tesla C2070 cards (picture) provide us with the potential of a speed up of 400 performing valuation and calibration tasks compared to a contemporary CPU. But encouraged by this potential we introduced new methods that provide another speed up of 100 - that multiplies to a speed up of 40.000.
UnRisk 5 on Mathematica 8 both with CUDA support enable us to develop as declarative as before. To develop atop UnRisk/Mathematica will be as quick and allow for creating solutions in model validation, complex portfolio valuation, risk management and general financial decision support for uses we never have thought of.
To unleash innovation, we have decided to offer UnRisk-Q, now at version 5, our development environment supporting the latest computing technologies and algorithms to reduce time from hours to seconds, or enable billions instead of millions valuations in time.
To the big surprise an entry level turn key system UnRisk+Mathematica+a hybrid CPU/GPU machine will be only approx. EUR 13.000 - cluster power at the desk for a tenth of the cost.
