Smart Data Collective

JULY 8, 2021

As humanity makes more and more progress with AI there is constant debate underway whether AI will turn on us in the future or they will benefit us. Let’s talk about some benefits and risks of artificial intelligence. Benefits of Artificial Intelligence: Reducing human error. Training and operation cost reduction.

Risk 143

Risk Cost-Benefit Machine Learning Deep Learning 143

CIO Business Intelligence

JANUARY 5, 2025

Research from Gartner, for example, shows that approximately 30% of generative AI (GenAI) will not make it past the proof-of-concept phase by the end of 2025, due to factors including poor data quality, inadequate risk controls, and escalating costs. [1] AI in action The benefits of this approach are clear to see.

Enterprise 124

Enterprise Cost-Benefit Unstructured Data Data Quality 124

CIO Business Intelligence

JULY 23, 2024

Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed. While security risks are daunting, therapists remind us to avoid overly stressing out in areas outside our control.

Risk 142

Risk IT Risk Management Cost-Benefit 142

David Menninger's Analyst Perspectives

NOVEMBER 12, 2024

Infor introduced its original AI and machine learning capabilities in 2017 in the form of Coleman, which uses its Infor AI/ML platform built on Amazon’s SageMaker to create predictive and prescriptive analytics. However, the productivity and staff morale benefits of AI-enabled applications are compelling.

Finance 130

Finance Prescriptive Analytics Cost-Benefit Manufacturing 130

CIO Business Intelligence

NOVEMBER 1, 2024

One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. It’s a full-fledged platform … pre-engineered with the governance we needed, and cost-optimized.

IT 122

IT Insurance Consulting Risk 122

Smart Data Collective

MARCH 31, 2022

Machine learning technology is changing many sectors in tremendous ways. A lot of accountants are discovering innovative ways to take advantage of the benefits of machine learning. A lot of accountants are discovering innovative ways to take advantage of the benefits of machine learning.

Machine Learning 131

Machine Learning Insurance Finance Cost-Benefit 131

Smart Data Collective

JULY 15, 2021

Machine learning technology has completely changed the future of the financial sector. Role of Machine Learning in Financial Securities Trading. One of the biggest changes brought on by machine learning has been with trading stocks , bonds, derivatives and other financial securities. Getting Started.

Machine Learning 124

Machine Learning Cost-Benefit Marketing Finance 124

Smart Data Collective

NOVEMBER 9, 2022

There are a number of great applications of machine learning. One of the biggest benefits is testing processes for optimal effectiveness. The main purpose of machine learning is to partially or completely replace manual testing. Machine learning is used in many industries. Top ML Companies.

Machine Learning 122

Machine Learning Testing Cost-Benefit Data-driven 122

CIO Business Intelligence

NOVEMBER 1, 2024

One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. It’s a full-fledged platform … pre-engineered with the governance we needed, and cost-optimized.

IT 105

IT Insurance Consulting Risk 105

CIO Business Intelligence

NOVEMBER 18, 2024

The Global Banking Benchmark Study 2024 , which surveyed more than 1,000 executives from the banking sector worldwide, found that almost a third (32%) of banks’ budgets for customer experience transformation is now spent on AI, machine learning, and generative AI.

Digital Transformation 141

Digital Transformation Consulting Cost-Benefit Marketing 141

AWS Big Data

JANUARY 9, 2025

Our experiments are based on real-world historical full order book data, provided by our partner CryptoStruct , and compare the trade-offs between these choices, focusing on performance, cost, and quant developer productivity. Also, the time travel feature can further mitigate any risks of lookahead bias.

Metadata 111

Metadata Snapshot Cost-Benefit Optimization 111

O'Reilly on Data

SEPTEMBER 19, 2023

.” Consider the structural evolutions of that theme: Stage 1: Hadoop and Big Data By 2008, many companies found themselves at the intersection of “a steep increase in online activity” and “a sharp decline in costs for storage and computing.” Those algorithms packaged with scikit-learn?

Machine Learning 341

Machine Learning Testing Modeling Cost-Benefit 341

CIO Business Intelligence

JULY 10, 2024

We examine the risks of rapid GenAI implementation and explain how to manage it. These examples underscore the severe risks of data spills, brand damage, and legal issues that arise from the “move fast and break things” mentality. This is a risk that many organizations don’t consider.

Risk 111

Risk Strategy Consulting Cost-Benefit 111

datapine

NOVEMBER 27, 2019

According to Gartner, poor data quality is estimated to cost organizations an average of $15 million per year in losses. We detailed the benefits and costs of good or bad quality data in our previous article on data quality management , where you can read the five important pillars to follow.

Business Intelligence 361

Business Intelligence Analytics Prescriptive Analytics Data Quality 361

Cloudera

JANUARY 7, 2025

Adopting hybrid and multi-cloud models provides enterprises with flexibility, cost optimization, and a way to avoid vendor lock-in. Cost Savings: Hybrid and multi-cloud setups allow organizations to optimize workloads by selecting cost-effective platforms, reducing overall infrastructure costs while meeting performance needs.

Cost-Benefit 82

Cost-Benefit Optimization Strategy Data-driven 82

Rocket-Powered Data Science

FEBRUARY 15, 2023

3) How do we get started, when, who will be involved, and what are the targeted benefits, results, outcomes, and consequences (including risks)? (2) Why should your organization be doing it and why should your people commit to it? (3) In short, you must be willing and able to answer the seven WWWWWH questions (Who?

Strategy 290

Strategy Experimentation Uncertainty Machine Learning 290

Corinium

JUNE 6, 2019

Regulations and compliance requirements, especially around pricing, risk selection, etc., For instance, for a variety of reasons, in the short term, CDAOS are challenged with quantifying the benefits of analytics’ investments. There is usually a steep learning curve in terms of “doing AI right”, which is invaluable.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

CIO Business Intelligence

APRIL 8, 2025

Fragmented systems, inconsistent definitions, legacy infrastructure and manual workarounds introduce critical risks. The decisions you make, the strategies you implement and the growth of your organizations are all at risk if data quality is not addressed urgently. Manual entries also introduce significant risks.

Data Quality 102

Data Quality Data-driven Key Performance Indicator Metadata 102

Smart Data Collective

MAY 23, 2021

AI (Artificial Intelligence) and ML (Machine Learning) will bring improvement in Fintech in 2021 as the accuracy and personalization of payment, lending, and insurance services while also assisting in the discovery of new client pools. Client Risk Profile Categorization. Decision-making that is both smart and fast.

Insurance 137

Insurance Machine Learning Cost-Benefit Data-driven 137

CIO Business Intelligence

OCTOBER 4, 2024

Employees who wish to boost their efficiency through AI can benefit not only from upskilling, but also be supported with the right data, applications, and collaboration tools. Reduce costs : Organizations can see long-term cost savings by investing in technology that boosts workplace productivity and reduces labor costs.

Cost-Benefit 128

Cost-Benefit Risk Optimization Machine Learning 128

CIO Business Intelligence

MARCH 6, 2024

Multiple attacks on well-known manufacturers have ended with huge expenses, including Austrian aerospace parts maker, FACC AG, which lost $61 million thanks to a phishing scam , and Norsk-Hydro , which was hit by a ransomware attack that cost $75 million. Attacks against OT systems pose risks beyond financial losses.

Manufacturing 126

Manufacturing Cost-Benefit ROI IoT 126

AWS Big Data

NOVEMBER 21, 2024

Amazon EMR is a cloud big data platform for petabyte-scale data processing, interactive analysis, streaming, and machine learning (ML) using open source frameworks such as Apache Spark , Presto and Trino , and Apache Flink. Customers love the scalability and flexibility that Amazon EMR on EC2 offers.

Metrics 84

Metrics Machine Learning Strategy Big Data 84

CIO Business Intelligence

MARCH 10, 2023

These, in turn, have brought with them an increase in new threats, risks, and cybercrime. As organizations emerge post-pandemic, many of the risks and uncertainties manifested during that period will persist, including the hybrid workforce, supply chain risk, and other cybersecurity challenges.

Digital Transformation 143

Digital Transformation Cost-Benefit ROI Risk 143

CIO Business Intelligence

MAY 28, 2022

Liberty Mutual’s cloud infrastructure runs an array of business applications and analytics dashboards that yield real-time insights and predictions, as well as machine learning models that streamline claims processing. We’re doing a lot on AI and machine learning and robotics. The benefits of a solid cloud foundation.

Insurance 145

Insurance Machine Learning Digital Transformation Cost-Benefit 145

CIO Business Intelligence

MARCH 5, 2025

Top impacts of digital friction included: increased costs (41%)increased frustration while conducting work (34%) increased security risk (31%) decreased efficiency (30%) lack of data for quality decision-making (30%) are top impacts. But organizations within the energy industry are in an especially precarious situation.

Management 86

Management Data-driven Cost-Benefit Risk 86

CIO Business Intelligence

APRIL 5, 2022

Enterprises face multiple risks throughout their supply chains, Deloitte says, including shortened product life cycles and rapidly changing consumer preferences; increasing volatility and availability of resources; heightened regulatory enforcement and noncompliance penalties; and shifting economic landscapes with significant supplier consolidation.

Analytics 145

Analytics Cost-Benefit Forecasting Manufacturing 145

IBM Big Data Hub

SEPTEMBER 27, 2023

What are the benefits of open source LLMs? Transparency and flexibility Enterprises that don’t have in-house machine learning talent can use open source LLMs, which provide transparency and flexibility, within their own infrastructure, whether in the cloud or on premises. It trained on a dataset containing 1.5

Risk 91

Risk Modeling Cost-Benefit Enterprise 91

Smart Data Collective

SEPTEMBER 27, 2020

The benefits of AI are endless. We have talked about the benefits of using big data and AI to improve cybersecurity. Transaction monitoring refers to the process of monitoring all incoming and outgoing transactions with machine learning algorithms. AI can help fight money laundering in a number of ways. Anti-Fraud.

Machine Learning 136

Machine Learning Cost-Benefit Software Risk 136

CIO Business Intelligence

DECEMBER 14, 2023

AI can help with all of these challenges via manufacturing-specific use cases that benefit manufacturers, their employees, and their customers. Process optimization In manufacturing, process optimization that maximizes quality, efficiency, and cost-savings is an ever-present goal. Here’s how.

Manufacturing 143

Manufacturing Cost-Benefit Unstructured Data Optimization 143

Smart Data Collective

OCTOBER 13, 2021

One of the biggest benefits of AI is that it has led to new breakthroughs in automation. Process automation eliminates the need for paper and physical storage space, cutting costs and allowing you to redirect the savings towards strategic technology investments that help you stay competitive. Use machine learning.

Technology 133

Technology Cost-Benefit Experimentation Machine Learning 133

Smart Data Collective

JANUARY 22, 2021

It’s poised to become a major feature in the hospitality business by 2025 and one of the most important benefits of using big data. NFC benefits both customers and hotel owners for several reasons, including: Security. Guest room automation can bring multiple benefits to both hotel guests and hotel owners alike.

Big Data 137

Big Data Technology Machine Learning Cost-Benefit 137

CIO Business Intelligence

JULY 2, 2024

This approach to better information can benefit IT team KPIs in most areas, ranging from e-commerce store errors to security risks to connectivity outages,” he says. Easy access to constant improvement is another AI growth benefit. All of these benefits promise to give IT teams additional time to focus on more complex issues.

IT 143

IT Machine Learning Cost-Benefit Data-driven 143

CIO Business Intelligence

SEPTEMBER 24, 2024

Organizationally, Wiedenbeck is a member of Ameritas’ AI steering committee, called the “mission team,” which includes the legal and risk officers, along with the CIO. Previously, he had led Ameritas’ efforts in AI, which included using machine learning (ML) to interpret dental x-rays in order to verify coverage.

IT 130

IT Insurance Cost-Benefit Risk 130

CIO Business Intelligence

JUNE 13, 2024

But purpose-built small language models (SLMs) and other AI technologies also have their place, IT leaders are finding, with benefits such as fewer hallucinations and a lower cost to deploy. SLMs can be trained to serve a specific function with a limited data set, giving organizations complete control over how the data is used.

IT 131

IT Cost-Benefit Machine Learning Testing 131

Smart Data Collective

AUGUST 29, 2022

It can be even more valuable when used in conjunction with machine learning. Machine Learning Helps Companies Get More Value Out of Analytics. There are a lot of benefits of using analytics to help run a business. You will get even more value out of analytics if you leverage machine learning at the same time.

Analytics 132

Analytics Predictive Analytics Machine Learning Insurance 132

CIO Business Intelligence

SEPTEMBER 17, 2024

Moreover, undertaking digital transformation and technology modernization programs without an architect can lead to delays, technical debt , higher costs, and security vulnerabilities. Mounting technical debt and extending the life of legacy systems are key risks CIOs should be paranoid about.

Enterprise 145

Enterprise Digital Transformation Cost-Benefit Risk 145

CIO Business Intelligence

APRIL 12, 2023

Real-time AI brings together streaming data and machine learning algorithms to make fast and automated decisions; examples include recommendations, fraud detection, security monitoring, and chatbots. Real-time AI is a science project until benefits to the business are realized. It isn’t easy.

Machine Learning 145

Machine Learning Cost-Benefit Data-driven Strategy 145