Synechron the global financial services consulting and technology services provider, has announced the launch of its AI Data Science Accelerators for Financial Services, Banking and Insurance (BFSI) firms. These four new solution accelerators help financial services and insurance firms solve complex business challenges by discovering meaningful relationships between events that impact one another (correlation) and cause a future event to happen (causation). Following the success of Synechron's AI Automation Program – Neo, Synechron's AI Data Science experts have developed a powerful set of accelerators that allow financial firms to address business challenges related to investment research generation, predicting the next best action to take with a wealth management client, high-priority customer complaints, and better predicting credit risk related to mortgage lending. The Accelerators combine Natural Language Processing (NLP), Deep Learning algorithms and Data Science to solve the complex business challenges and rely on a powerful Spark and Hadoop platform to ingest and run correlations across massive amounts of data to test hypotheses and predict future outcomes. The Data Science Accelerators are the fifth Accelerator program Synechron has launched in the last two years through its Financial Innovation Labs (FinLabs), which are operating in 11 key global financial markets across North America, Europe, Middle East and APAC; including: New York, Charlotte, Fort Lauderdale, London, Paris, Amsterdam, Serbia, Dubai, Pune, Bangalore and Hyderabad.
"Our leadership in enterprise AI continues to attract world-class investors who understand that Dataiku's solution and customer base are truly global and that we're uniquely positioned to help businesses realize the untapped potential for AI to transform the enterprise," said Florian Douetteau, co-founder and CEO of Dataiku. "In a global business market rocked by the changes 2020 has brought, AI has proven to be a critical element of organizational success driving business growth in every major vertical market." Dataiku was founded in 2013 with the mission to take machine learning and AI projects out of experimental labs and put them into everyday operations that are truly woven into the fabric of a company. Dataiku serves hundreds of customers worldwide, including Schlumberger, GE Aviation, Sephora, Unilever, BNP Paribas, Premera Blue Cross, Kuka, and Santander. Its team has grown to more than 450 people worldwide in New York, Paris, London, Frankfürt, Dubai, Amsterdam, Sydney, and Singapore.
Two German cities, Munich and Frankfurt, were found to have the highest risk of a housing bubble developing in a recent survey released by investment bank UBS. Other cities at risk were Toronto, Hong Kong, Paris, Amsterdam, and Zurich. In Munich and Frankfurt, housing prices grew by more than 5 percent over the course of a year. Prices in Dubai (rank 24) continued to ease after housing boomed between 2010 and 2014 in connection to high oil prices. Unrest in Hong Kong also saw prices decline in the notoriously pricey city and conditions also eased in Madrid (rank 21) and San Francisco (rank 14).
Booking.com, a brand within Priceline Group, is planning to begin using artificial intelligence (AI) to create personalized travel options for customers. According to Seeking Alpha, Booking.com will begin using AI within its mobile apps to provide travelers with instant recommendations for local events and attractions once they've reached a destination. Booking Experiences tool, which has been launched on its iOS and Android apps in Amsterdam with planned rollouts in Dubai, London, Paris, and New York over the next few months, makes suggestions based on a user's personal experience and from having analyzed millions of personal likes and dislikes and how these experiences impact the buying decisions for various venues. For instance, chatbots powered by AI are able to field and answer questions from customers on a variety of subjects, from generating recommendations on gift purchases to locating the nearest Chinese restaurant. As with other forms of automation, some have questioned whether AI will replace customer service reps and people in other types of customer-facing roles.
Over the course of the last 12 months I've had innumerable conversations with data analytics professionals from here to London. They've been with Chief Data Officers, Chief Analytics Officers and many other senior professionals with an impressive array of job titles. I've talked with people from the banking industry and with people from vehicle manufacturers. These conversations have taken place over drinks at a hotel bar in Amsterdam and over a 7* dinner at the Burj Al Arab in Dubai.