Is the Financial Services Industry Ready for AutoML?

Is the Financial Services Industry Ready for AutoML?

August 29, 2019

Is the #financialservices industry ready for #AutoML?  dotData hosted a tech talk at the #Ai4Finance2019 conference last week where we polled attendees on successes, challenges and questions around #AI, #ML and AutoML.  Our CEO Ryohei Fujimaki discusses some of the surprising findings in an article on @Forbes Cognitive World.

The audience for an hour-long tech talk on AutoML in the world of Financial Services provided their input on the topic of AutoML and the need for such solutions. 150+ people attended our presentation at a Financial Services Conference in the US. They included Data Scientists, Line of Business Managers, BI Analysts, Data Engineers, and IT Specialists. The challenges of Machine Learning and Data Science for finance companies are the significant upfront effort needed to make data ready for ML and data science, the need for model transparency due to regulatory oversight, and the need for domain expertise. Our second poll focused on the audience’s interest in AutoML platforms. While many responded positively, there is still much to learn and we must work together to educate the industry about the advantages of AutoML. AutoML will accelerate project turnaround, provide deeper business insights and enable more people with machine learning, according to dotData poll respondents.

AutoML is being used for the top use-cases for AI in Financial services, but companies are still struggling with the challenges associated with ML and Data Science projects. Read the full article at Forbes Cognitive World.
*Repost of Forbes article

dotData

dotData Inc.

dotData Automated Feature Engineering powers our full-cycle data science automation platform to help enterprise organizations accelerate ML and AI projects and deliver more business value by automating the hardest part of the data science and AI process – feature engineering and operationalization. Learn more at dotdata.com, and join us on Twitter and LinkedIn.