Synechron advises on moving beyond the AI hype to get strategic value from data science for financial services Tuesday, September 24, 2019 - New York, Charlotte, London, Paris, Amsterdam, Dubai, Pune, Singapore
Synechron unveils new whitepaper at Sibos 2019 on how data science can deliver domain-driven business value for financial services firms
Synechron, a leading Digital Consulting firm for financial services, today unveils its whitepaper, ‘Moving beyond the AI hype to get strategic value from data science in financial services and insurance’. The paper reveals how financial services firms can gain competitive advantage from the much-hyped AI and data science movement to streamline operations, gain meaningful business intelligence and solve domain-driven business challenges.
Synechron identifies four key opportunities for banks, asset managers and insurers to turn big data into strategic opportunities:
- Developing a data sourcing strategy - tackling the double challenge of a boom in data creation while experiencing meaningful data scarcity - from digitizing existing data to generating synthetic data and tapping into alternative sources
- Applying more intelligent automation - moving along the AI maturity curve from simple business process management and robotic process automation to Natural Language Processing (NLP) powered by data science, which enables better understanding of content, context and intent
- Directly applying AI to business goals - assessing the right data science models and approaches to implement and to support everything from improved customer experience to client retention
- Advancing Data Science strategy and setup - focusing on everything from operations to team and infrastructure to design and execute data science programs and best practice across the stack.
Robert Huntsman, Head of Data Science at Synechron
, said: "While much is being said about AI and Data Science, there is still work to be done to move beyond basic automation technology and the hype of AI as a trend to bring it one level deeper to deliver real strategic value supporting business goals. Our clients are finding huge opportunities for AI within banking but also challenges in how to make AI strategies actionable in a way that supports larger digital transformation and business objectives. Those that are getting ahead are realizing that domain-driven application of AI and data science is essential to these programs, and Synechron is ready to share our financial services, insurance, and data science expertise to advance these initiatives.”
For more information on the whitepaper and to Download a copy or meet the team at its ‘FinLab-on-the-Go’ at Booth 127 at Sibos.
Synechron is a leading Digital IT Consulting firm for financial services, Accelerating Digital for financial institutions by providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 18 offices around the globe, with over 8,000 employees producing over $500+M in annual revenue. For more information please visit the our LinkedIn community.
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