Javier Campos Zabala, General Manager for UK&I and EMEA Experian DataLabs, outlines the future of Artificial Intelligence, as businesses across the globe attempt to make sense and get the key insights from the vast data oceans they now have access to.
Big data is getting bigger – by the day. Around 90% of the world’s data was created in the past two years. By 2020, it’s predicted the same amount of data again, will be created every minute. It’s also well understood that more data brings more opportunity and underpins everything we do. But to realise that potential, the relevant insight must be extracted and interpreted – before any appropriate decision can be accurately informed. Thankfully, technology has advanced almost as quickly as our data universe has expanded, and today’s analytics can make better sense of the mass of data – at scale, at speed – and more accurately than any human.
On its own data has no specific meaning – it needs to be intelligent, it needs to be understood for the data to be of value to the user, to the end customer. It’s only by using advanced analytics, such as machine learning, that data can become more meaningful – more valuable – specifically for the customers whose data it is.
More importantly Experian’s expertise and data sets can be incorporated with client data to offer an even bigger pot of opportunity for accessing greater insight – here we produce analytics at scale – and at speed. Essential tools for today’s big data economy.
The DataLabs was founded in 2010 in San Diego. They then quickly expanded to Europe and South America, with the remit of driving innovation using analytics. Across the four labs we now have over 50 data scientists. It is a significant area of investment for Experian and our in-house capabilities for machine learning and artificial intelligence is something that we proactively offer as a service to help solve complex problems across a range of areas and markets.
The way in which data has grown has meant many businesses today are faced with significant challenges relating to data. Through research we commissioned with Forrester, we can see that the top three business problems globally all result from barriers or blockages relating to data. In some scenarios, the challenge can seem too tricky to overcome. Mainly because of the lack of expertise, technical capability, or a lack of budget to place on research and development of the scale that’s needed, and isn’t connected to a specific ROI but built on a ‘test and learn’ approach.
We see competing and varying objectives across many businesses and many sectors. One consistency however is this lack of investment in analytics to solve problems. Not unsurprising as it is a considerable investment to make and something that cannot be done as a single task, but something that needs to be fundamentally driven into the business model as an ongoing investment.
This is where Experian comes in. We believe that to use data to its best ability, it needs to be used at speed, it needs to be scalable. Equally, any decision from a data set needs to be achieved with accuracy. The DataLabs help this happen and through the science and the data, we can bring the mathematics and the dedication of a global team – an infrastructure that’s equipped for test and learn and problem solving – at scale.
Javier Campos Zabala will be presenting at this year’s AI & Big Data Expo, from 19-20 June, in Amsterdam. He presents a speech outlining the advantages of Scaling AI in the Enterprise. Don’t miss one of the highly anticipated talks.
Alternatively, our team will be on-hand to discuss the latest on:
- Analysing new market insights to win a competitive advantage.
- Assessing and delivering key commercial strategies – at speed and scale to meet the needs of your market.
- Adopting AI, machine learning and the analytical firepower to manage risk.
- Developing improved customer relationships.v
- Helping businesses like yours tackle their most critical commercial challenges.