Automated Machine Learning and the Banking Industry [An Infographic]

Today’s banks are embracing AI technology more than ever. According to a study by Accenture Research, companies in the financial services sector that embrace AI could improve profitability by an average of 31 percent by 2035.

The infographic below shows how banks are leveraging automated machine learning in three distinct ways:

  1. Increase Revenue

  2. Reduce Expenses

  3. Reduce Risk




Learn more about the specific financial institutions DataRobot currently works with in this blog post summarizing DataRobot’s AI Experience New York City event. Or, check out DataRobot’s Banking page to better understand how DataRobot’s automated machine learning platform helps banks with model validation and risk management, fraud detection, infrastructure monitoring, and more.

 

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About the Author:

Greg Michaelson is the Director of DataRobot Labs, an R&D group focused on developing data science applications in a business context. Prior to that he led the data science practice at DataRobot, working clients across the world to ensure their success using the DataRobot platform to solve their business problems. Prior to joining DataRobot, Greg led modeling teams at Travelers and Regions Financial, focusing on pricing and risk modeling. He earned his Ph.D. in applied statistics from the Culverhouse College of Business Administration at the University of Alabama. Greg lives in Charlotte, NC with his wife and four children and their pet tarantula.

 

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