Tuesday, August 14

IBM’s elite squad tackles AI barriers for banks

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IBM unveiled a new data science and machine learning platform and an elite consulting team to help companies use artificial intelligence.

The data platform, called Cloud Private for Data, is like a “data infrastructure layer for AI behind the firewall”.

It has a fast in-memory database that can ingest and analyze massive amounts of data at one million events per second.

The integrated data science, data engineering and app building platform is designed for users to build and exploit event-driven applications capable of analyzing the torrents of data from things like IoT sensors, online commerce, mobile devices, and more.

Cloud Private for Data is an application layer deployed on the Kubernetes open-source container software, which can be done in minutes. In the future, it will run on all clouds, as well as be available in industry-specific solutions such as financial services.

In a statement, Christian Rodatus, CEO of IBM business partner Datameer, said that “two of the biggest challenges for data scientists is cleansing and shaping data, and operationalizing their insights to deliver value to business”.

IBM’s direction will help companies to more quickly prepare data for machine learning and AI projects and operationalize these across their organizations, he added.

Additionally, IBM announced the formation of the Data Science Elite Team – a free consultancy dedicated to solving clients’ real-world data science problems and assisting in AI application. The team is currently helping some 50 clients.

This global team of data scientists, machine learning and decision optimization engineers is dedicated to assisting clients on-site to begin helping them better understand and control their data, and to start making machine learning an integral part of their business.

Patricia Maqetuka, chief data officer at Nedbank, said in a statement: “More data is available now than has ever been available before and analytical tooling has undergone rapid evolution in order to keep up.”

She added that the team has helped the South African bank to rethink analytics and use-cases for “business value”.

IBM’s elite team runs workshops for clients to understand their data environment and determine three or four “deliverables” that can each be realized in two to three weeks. Afterwards, clients are provided access to data science strategies, technologies and methodologies.

The team has more than 30 people now and is expected to grow to 200 over the next few years.

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