“Sophisticated companies are making good progress connecting internal and external data to create functional insights that can be easily shared and used by decision makers across the business. But two key developments have brought a certain urgency to the question for businesses across the globe. The first is the pivotal nature of this moment for…
Tag: analytics
The Machine Economy Is Here – The Digital Transformation Era Is Over
“It’s now clear that decision-making AI and machines will be the primary driver of economic growth over the next decade in what’s being referred to as the ‘Machine Economy.’ Not only will the Machine Economy depend on data to operate, but all these smart applications, machines, and connected devices will continue generating exponentially increasing amounts…
Why Do “Data” and “A.I.” Always Go Together?
“At its core, A.I. is an algorithm, which in plain English is a process that takes inputs and produces outputs. Much like your car, which is just a hunk of metal sitting the garage until it has fuel to make it go, an algorithm on its own with no data to process can’t make anything…
AI in Banking: Beyond the Bots
– “80% of financial institutions are “highly aware” of the benefits of AI and machine learning. – 75% of banks with more than $100 billion in assets are currently implementing AI. – 46% of FIs with less than $100 billion in assets are currently implementing AI. – By 2023, FIs are projected to save $447…
Fintech rise forces retail banks to pivot, says report
“Customers are pivoting to competitors that offer more personalised, bespoke experiences, leaving retail banks lagging behind. That’s according to the World Retail Banking Report 2022 (WRBR) published by Capgemini and Efma. The survey showed that 75% of customers are attracted to the cost-effective, seamless services offered by fintechs and traditional banks simply cannot keep up….