AI. Machine Learning. Big Data. Augmented Analytics. The Cloud.
These aren't just the buzzwords of the latter part of the second decade of the 21st century, they're the new reality, the new oil, the new gold rush that allows companies to use granular data in ways never before possible, to achieve results humans could never achieve alone.
One of the companies capitalising on this very real development, and not just a trend, is DataRobot, created by data scientists, and it is not only popular with its global customers, but has also received great press.
Another recent article from Forbes is entitled "DataRobot puts the power of machine learning in the hands of business analysts", while CMO from IDG's headline is "What machine learning has done for the Vigin Velocity program".
So, we had the chance to talk to Greg Michaelson, the general manager of Banking at DataRobot, who gave us his perspective on what the definition of AI is today in 2018, how advanced machine learning is today and plenty more as you'll see below, with a wrap of the questions, followed by a link to DataRobot's recent detailed 9-page eBook, 5 AI Solutions Every Chief Risk Officer Needs.
I also asked Greg about the presentation he gave at a conference in Las Vegas, which was entitled "Automated Machine Learning in Insurance by DataRobot, featuring Greg Michaelson, GM of Banking at DataRobot, and Satadru Sengupta, CEO and Founder of Halos Insurance".
You can see that conference presentation via Vimeo here.
Ok, so here's the interview with Greg, with more below, please read on!
In the interview, I start by introduced Michaelson and welcoming him to the program.
We then started at the beginning, with Michaelson telling us a bit about DataRobot and how it started, what DataRobot does in 2018, and his role at the company.
I then moved on to DataRobot's definition of AI, and how advanced machine learning is today.
I noted that we've all heard that data scientists, machine learning, big data, the cloud, AI is the digital oil or gold of the 21st century, and vital for any organisation to take full advantage of, so I asked about some examples of the ways DataRobot's technologies and capabilities have helped customers transform their operations for the better.
I then asked Michaelson if he had any comments on the Banking Royal Commission underway in Australia, which has uncovered fraudulent and unethical practices in banking, insurance and the finance sector – within those organisations themselves, seeing as he is the general manager of Banking at Data Robot, and noted that these issues are "on top of the usual issues around security, fraud prevention and more that banks face from online criminals".
We then spoke about DataRobot's recent eBook entitled "5 AI solutions every Chief Risk Officer needs", with more information on that below.
When then looked in more detail about AI and how we compare around the world, where AI will be in the future, great advice Greg has received in life, and his final message to iTWire viewers and readers.
You can also freely download DataRobot's new eBook, 5 AI Solutions Every Chief Risk Officer Needs, after free registration.
It's a detailed nine-page PDF ebook that "details the key ways risk managers can implement AI to see verifiable impacts on their bottom lines. Additionally, it introduces the DataRobot automated machine learning platform, which has already helped both regional and global banks build world-class AI capabilities".
In the ebook, you’ll learn about the five areas of risk management that banks can improve using AI, the challenges risk managers often face when implementing AI, how automation addresses these challenges and increases flexibility, transparency, effectiveness, and the ROI of machine learning initiatives.