Mon.Mar 27, 2023

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Applications of Machine Learning and AI in Banking and Finance in 2023

Analytics Vidhya

Introduction Could the American recession of 2008-10 have been avoided if machine learning and artificial intelligence had been used to anticipate the stock market, identify hazards, or uncover fraud? The recent advancements in the banking and finance sector suggest an affirmative response to this question. The keys to business success are sophisticated, intelligent security systems […] The post Applications of Machine Learning and AI in Banking and Finance in 2023 appeared first on Analyt

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Why data leaders struggle to produce strategic results

CIO Business Intelligence

Chief data and analytics officers (CDAOs) are poised to be of increasing strategic importance to their organizations, but many are struggling to make headway, according to data presented last week by Gartner at the Gartner Data & Analytics Summit 2023. Fewer than half (44%) of data and analytics leaders say their teams are effective in providing value to their organization.

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The Future of AI with ChatGPT Plugins

Analytics Vidhya

The introduction of ChatGPT modules by Open AI is intended to improve the user experience. These plugins can be downloaded from the plugins store and are presently only available to a select group of users. Users of ChatGPT can anticipate increased convenience as a result of the launch of these plugins. Users can place orders […] The post The Future of AI with ChatGPT Plugins appeared first on Analytics Vidhya.

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AI bots for customer experience: trends, insights, and examples

CIO Business Intelligence

The hype surrounding AI-based voice and chatbots is evident, but do they deliver? Most still perform only extremely basic tasks and often mirror the poor practices of traditional IVRs. Customers may be open to the idea, but only 30% believe that chatbots and virtual assistants make it easier to address their service issues. The things customers say bots are good at – replying quickly, helping them outside normal business hours, being friendly – are not as important as what 60% say bots fail

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The Executive Guide to Generative AI

Generative AI is taking the world by storm, but the questions that all CEOs, data leaders, and AI leaders are being asked are: What are we going to do about it, and what is our plan? The business and creative possibilities are practically limitless with generative AI. From productivity gains to finding new routes to revenue generation, generative AI is going to radically transform how we work.

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How is the Dawn of AI Blooming and Transforming Industries?

Analytics Vidhya

In the article, Gates talks about the status of artificial intelligence today and how it might change a variety of sectors, such as agriculture, health care, and education. He says that in fields like speech recognition, image recognition, and natural language processing, it has already achieved significant progress. As a result, AI is being incorporated […] The post How is the Dawn of AI Blooming and Transforming Industries?

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State of the CIO, 2023: Building business strategy

CIO Business Intelligence

When he’s not immersed in cybersecurity, hybrid cloud strategy, or app modernization, David Reis, CIO at the University of Miami Health System and the Miller School of Medicine, spends his time working with the board of directors and top leadership to reimagine healthcare and take the lead driving digital transformation. A business objective to “arrive” more patients per hour or the CEO’s desire to leverage historical data to predict future patient volume and revenue doesn’t start with a technol

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Huawei’s F5G rollout plan signals new wave of green technology and digital transformation

CIO Business Intelligence

The emphasis Huawei has placed on a wave of investment in optical fixed line networks is bearing fruit. At MWC 2023, the company unveiled a range of F5G (Fifth generation fixed network) solutions for vertical industries. For Gu Yunbo, who manages the part of Huawei that sells optical network products to enterprises, this is the start of something big: a new wave of “green technology and digital transformation”.

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6 Reasons to Boost Data Security Plan in the Age of Big Data

Smart Data Collective

Our lives are being affected by big data more than ever. Therefore, it should be no surprise that the big data analytics market is projected to be worth $655 billion by 2027. However, the rise of big data has also led to greater security risks. Businesses need to bolster their data security as a result. Our Growing Dependence on Big Data Makes Data Security More Important than Ever Big data is revolutionizing the way we live our lives.

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Huawei launches intelligent data storage solutions at MWC to satisfy rising multi-cloud demand

CIO Business Intelligence

Peter Zhou, President of Huawei’s IT Product Line, is the public face of data storage technologies at the Chinese telecoms to IT giant. At MWC 2023, in between meetings with many of the 2,500 Huawei clients who made the trip to Barcelona, Peter described Europe’s buoyant market as one of the drivers behind 40% year-on-year growth in Huawei’s international on-premise data storage revenues.

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AWS Glue crawlers support cross-account crawling to support data mesh architecture

AWS Big Data

Data lakes have come a long way, and there’s been tremendous innovation in this space. Today’s modern data lakes are cloud native, work with multiple data types, and make this data easily available to diverse stakeholders across the business. As time has gone by, data lakes have grown significantly and have evolved to data meshes as a way to scale. Thoughtworks defines a data mesh as “a shift in a modern distributed architecture that applies platform thinking to create self-serve data infrastruc

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From Hadoop to Data Lakehouse

Getting off of Hadoop is a critical objective for organizations, with data executives well aware of the significant benefits of doing so. The problem is, there are few options available that minimize the risk to the business during the migration process and that’s one of the reasons why many organizations are still using Hadoop today. By migrating to the data lakehouse, you can get immediate benefits from day one using Dremio’s phased migration approach.

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Growing Demand for Data Science & Data Analyst Roles

Smart Data Collective

Unleash your analytical prowess in today’s most coveted professions – Data Science and Data Analytics! As companies plunge into the world of data, skilled individuals who can extract valuable insights from an ocean of information are in high demand. Join the data revolution and secure a competitive edge for businesses vying for supremacy.

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Manage your data warehouse cost allocations with Amazon Redshift Serverless tagging

AWS Big Data

Amazon Redshift Serverless makes it simple to run and scale analytics without having to manage your data warehouse infrastructure. Developers, data scientists, and analysts can work across databases, data warehouses, and data lakes to build reporting and dashboarding applications, perform real-time analytics, share and collaborate on data, and even build and train machine learning (ML) models with Redshift Serverless.

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SMEs Use AI-Driven Financial Software for Greater Efficiency

Smart Data Collective

AI is driving major changes in the financial world. It is estimated that Fintech companies spent over $9.5 billion on AI in 2021 , but small businesses may spend even more on AI-driven financial management software. The banking industry is among those most heavily affected by AI. Smart solutions can give banks an advantage over competitors. Some of the benefits of AI in banking include: Banks use AI bots to onboard clients and analyze borrower risk.

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How Data Science Can Transform Mobile App Development?

KDnuggets

Data science is an intelligent and powerful technology. By knowing how to use data science in mobile app development you can achieve great results.

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The Forrester Wave™: AI/ML Platforms: Vendor Strategy, Market Presence, and Capabilities Overview

As enterprises evolve their AI from pilot programs to an integral part of their tech strategy, the scope of AI expands from core data science teams to business, software development, enterprise architecture, and IT ops teams. Enterprises need a platform that can make broader AI teams more productive, implementing more complex use cases and harnessing the fast pace of new AI technologies.

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Deep Pool boosts software quality control using Amazon QuickSight

AWS Big Data

Deep Pool Financial Solutions , an investor servicing and compliance solutions supplier, was looking to build key performance indicators to track its software tests, failures, and successful fixes to pinpoint the specific areas for improvement in its client software. Deep Pool was unable to access the large amounts of data that its project management software provided, so it used AWS to access, manage, and analyze that data more efficiently.

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Trusted Data: Alchemy For Misinformation

Cloudera

The best description of untrusted data I’ve ever heard is, “We all attend the QBR – Sales, Marketing, Finance – and present quarterly results, except the Sales reports and numbers don’t match Marketing numbers and neither match Finance reports. We argue about where the numbers came from, then after 45 minutes of digging for common ground, we chuck our shovels and abandon the call in disgust.

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Visualize Confluent data in Amazon QuickSight using Amazon Athena

AWS Big Data

This is a guest post written by Ahmed Saef Zamzam and Geetha Anne from Confluent. Businesses are using real-time data streams to gain insights into their company’s performance and make informed, data-driven decisions faster. As real-time data has become essential for businesses, a growing number of companies are adapting their data strategy to focus on data in motion.

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Multimodal Models Explained

KDnuggets

Unlocking the Power of Multimodal Learning: Techniques, Challenges, and Applications.

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ERM Program Fundamentals for Success in the Banking Industry

Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

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Smart UPS Connectivity: what it is and why you need it

CIO Business Intelligence

The electricity supply in Australia, New Zealand and Singapore is very reliable, much more so than in many countries in East Asia, but outages do occur, and the shift to renewables is increasing the risk, as are more extreme weather events. Also, there can be other problems about which the average user would be unaware: brownouts (sudden voltage drops) spikes (sudden voltage surges) and noise (high frequency signals on the supply line).

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Visual ChatGPT: Microsoft Combine ChatGPT and VFMs

KDnuggets

Microsoft announces Visual ChatGPT for talking, drawing, and editing with visual foundation models.

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5 Ways Data Visualization Can Improve Your Decision-Making Process

Decision Management Solutions

Data visualization is a powerful tool that can help improve decision-making across several industries, including business, finance, healthcare, and more. By allowing users to more easily understand and interpret data, data visualization can help make more informed and accurate decisions, leading to improved outcomes and increased success. By transforming data into visually appealing and easy-to-understand graphics, data visualization allows decision-makers to comprehend large, complex datasets,

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CIOs to learn about the art of persuasive communication.

CIO Business Intelligence

Persuasive Communication Workshop, FutureIT | Dallas, March 29th. Hosted by Dan Roberts, Host, Tech Whisperers Podcast, CEO, Ouellette & Associates and Larry Bonfante, Senior Consultant, Ouellette & Associates. IDG Don’t miss CIO’s FutureIT | March 29 at the Tower Club, Dallas presented by CIO, CSO and ComputerWorld. A pre-conference workshop will be exclusively offered to conference attendees, hosted by Dan Roberts, Host, Tech Whisperers Podcast; CEO, Ouellette & Associates and Larr

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10 Keys to AI Success in 2023

An organization’s path to AI success can be full of obstacles, from a proper assessment of its own AI maturity, to a better alignment between business and technical teams, many factors can influence the outcomes. All of this is tightly intertwined with a myriad of complicated technical decisions that can make or break any long-term AI strategy. While AI progress is hard, companies don’t have to get stuck in an endless loop of inertia on their path to value-driven AI.

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Paying Down Your Analytics + AI Technical Debt

Dataiku

Technical debt — the accumulation of messy code, aging systems, and temporary patches that you will need to fix later — is costly anywhere in an organization. Within an analytics and AI stack, however, it can be the difference between being able to generate an insight that drives millions of dollars of ROI and simply continuing with business as usual.

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Review: Stefanie Posavec’s “Dataviz Drawing Class”

Depict Data Studio

Last month, I participated in Stefanie Posavec’s Dataviz Drawing Class. I LOVED the class! Wondering whether the class is right for you? What’s inside this review: Class logistics Why I signed up About the instructor What we learned Who this class is best for My favorite part Learn more Class Logistics A dozen of us met for two half-day classes held over Zoom.