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SUMMER OF AI JULY 2019 DATA & ANALYTICS
Prasanna’s memo
Leading with AI
Artificial intelligence reduces friction in the insights supply chain for customers and minimizes information asymmetry for their clients
PRASANNA DHORÉ CHIEF DATA AND ANALYTICS OFFICER
At Equifax we have a clear purpose, to help people live their financial best. How do we do that? By reducing friction for our customers and their clients at every stage of the insights supply chain – from taking data in (data ingestion), understanding what to do (insights generation), and acting on the data (deployment).
Traditionally, we’ve accomplished this purpose through giving businesses around the world access to high quality data. However, a seismic shift – a confluence of technology, regulations and customer needs –meant data is crucial but it’s not enough.
To best serve customers and their clients, Equifax invested heavily into innovative technologies for extracting maximum value from our data. And there’s a technology
that is leading the way – artificial intelligence. According to an analysis of more than
400 use cases from across industries and functions, the McKinsey Global Institute projected artificial intelligence will generate $831.3 billion in potential value for the banking, insurance, and telecommunications industries alone.
I passionately believe artificial intelligence
is key for closing the gap on information asymmetry – the imbalance that exists when lenders and borrowers have different levels of information.
In this special edition e-zine, our data scientists discuss AI techniques that can reduce friction by improving data ingestion, expand ethical access to credit and increase the resiliency of our customers’ decisioning models.
Whether you are an auto dealer wondering which competitor won your business, a bank executive uncertain about your model’s regulatory review, a telecommunications retail giant dealing with seasonality or just
a business executive curious about artificial intelligence, read about how the scientists at Equifax are using AI to transform the insights supply chain in order to reduce information asymmetry for our customers and their clients.
It’s an exciting time at Equifax. AI – in conjunction with advanced decisioning platforms, big data and expertise – is opening up new doors never before thought possible. Helping customers like you make smarter decisions and helping consumers live their financial best. And we hope to give you, our customers, an inside look into what’s next. g
AI Across the Insights Supply Chain
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Data Ingestion
Insights Generation
Deployment
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