This morning representatives of more than 12 companies joined us at NIBC on the Zuidas to discuss digital transformation and specifically how it relates to Data Analytics and AI. We were treated to presentations by Gigaspaces, SAS Institute, Interworks and Protiviti and had a fruitful discussion afterwards. Some key highlights relevant to everyone working in Digital Transformation:
1) Partnerships are key. Small, niche service providers are a great way for banks and other large FI’s to scale innovation efforts and reduce time to market for new products that helps maintain their competitive edge.
2) Where we get our data is very important. Companies must learn to use the data they collect on their clients in the most optimal way – but must also integrate data that can be parsed from from other resources, such as social media or the news to create a truly holistic client dashboard and be able to play into the needs of clients on a realtime basis.
3) Don’t look at regulation and compliance as a burden only. Compliance and industry standards can help build trust in new products and services – for instance, ethical AI will soon have it’s own quality assurance mark to show that the algorithm is free of subjective human bias!
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