AI or Die: 4 Ways Model Governance Can Help You Win at Digital Transformation

“Fortunately, you can seize the advantages of these models and score big with AI while simultaneously defending against risks. Here are four ways to make it happen.

    Unite model ecosystem silos
  1. Gain transparency into the inner workings of models
  1. Spot connections and potential snowballing risks
  1. Lower costs through improved resource allocation and efficiency”

David Asermely

Global Lead of Model Risk Management

AI Stats News: 62% Of US Consumers Like Using Chatbots To Interact With Businesses

    • “Consumers in Australia, the UK, and France report the highest levels of chatbot usage, with more than 70% of respondents having used one to interact with a brand in the past year
    • 80% used them for customer care
    • more than 70% of people 18-34 years old wanting the option to message with businesses;
    • Manpower found that its collections increased 12% [Fortune]
    • The first eight IT teams at Fannie Mae to receive Moogsoft’s AIOps tool have seen a 35% reduction in IT incidents
    • On average, data volumes are growing at a rate of 63% a month;
    • The market for data-labelling services may triple to $5 billion by 2023, according to Redpoint Ventures [The Economist]
    • By 2023, the number of people with disabilities employed will triple due to AI and emerging technologies, reducing barriers to access
    • 2022, 30% of organizations will have invested in explainable AI—technology that can explain how AI algorithms come to their conclusions [Gartner]”

    Abu Dhabi Announces the Establishment of the World’s First Graduate Level AI University

    “The University will offer Master of Science (MSc) and PhD level programs in key areas of AI – Machine Learning, Computer Vision, and Natural Language Processing. All admitted students will receive a full scholarship, monthly allowance, health insurance, and accommodation.

    Graduate students can now apply to MBZUAI via the University’s website. The first class will commence coursework at MBZUAI’s Masdar City campus in September 2020.”

    USAA’s Latest Customer Experience, Insurtech Innovation: An AI Collaboration With Google Cloud

    “Sean Burgess, Senior Vice President and General Manager for Claims, USAA: In order to digitally transform the insurance claims process, we’ve joined up with the Google Cloud team and have developed machine learning models that nearly instantly predict vehicle damage from digital images, allowing for faster and more cost-efficient estimates.”

    Artificial intelligence, machine learning spawn new jobs in eCommerce

    • “’We are now focusing majorly on User Experience Design. The primary emphasis is on customer empathy, while leveraging techniques like machine learning, thereby assisting us in better decision making.’
    • According to a 2017 EY survey of industry leaders – eCommerce, which currently contributes 8% of the retail market – is expected to grow at a CAGR of 35% over the next five years, and will completely transform job creation in the retail and allied sectors.
    • ‘Disruption has become the new norm,’ says Dr. Sanjay Dhir, Professor at the Department of Management Sciences, IIT Delhi.”