First Annual 'State of ModelOps' Report

CHICAGO, April 15, 2021 (GLOBE NEWSWIRE) -- ModelOp, the pioneer of ModelOps software for major enterprises, today announces release of the first annual State of ModelOps report. Conducted by independent research firm Corinium Intelligence, the report summarizes the first ever research into the state of model operationalization and details the challenges faced by AI-focused executives from top global financial services companies as they scale their AI initiatives. Findings show that while AI is already widely deployed in many large enterprises and investments are growing, nearly 80 percent of surveyed executives reported difficulty managing risk as a barrier to AI adoption, and cite ModelOps as a key enterprise discipline that is receiving significantly increased attention and investment. The report is based on interviews with 100 executives from top global financial services companies in early 2021, providing a unique snapshot of the practices and future plans of large enterprises to govern and scale mission-critical AI initiatives. The findings were combined with commentary and insight from seven industry experts from organizations including Wells Fargo Asset Management, NY Life Insurance, BNY Mellon, FICO and others.