H2O.ai sees machine learning as the answer to firms’ growing big data collections

Financial firms’ growing collection of structured and unstructured data has the potential to yield new visibility into business processes. But artificial intelligence proponents say the finance industry will need to embrace machine learning to convert vast amounts of big data into timely and actionable insight. Research firm International Data Corp. (IDC) has forecast that the market for big data will grow at an annual rate of 23 percent through 2019. In financial services, that growth is even faster. Securities and investment services tied with banking as the industries with the fastest growth rate in big data, with compound annual growth rates of 26 percent. “The biggest challenge is inertia. Companies are used to the old rules-based models they had in the past,” says Vinod Iyengar, director of marketing for H2O.ai.…


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