Disclosed herein are techniques for accelerating convolution operations or other matrix multiplications in applications such as neural network. A computer-implemented method includes receiving low-precision inputs for a convolution operation from a storage device, and subtracting a low-precision value representing a high-precision zero value from the low-precision inputs to generate difference values, where the low-precision inputs are asymmetrically quantized from high-precision inputs. The method also includes performing multiplication and summation operations on the difference values to generate a sum of products, and generating a high-precision output by scaling the sum of products with a scaling factor.