Big Data Analytics solutions’ spending to reach $22.6 bn in 2020, with a growth of 12% over 2019 in Asia Pacific region, said research firm IDC. It expects big data tech and service-related revenues to grow with a 5-year CAGR of 15.6% between the year 2019 and 24. 74% of enterprises intend to invest in BDA solutions at the same or higher level. Banking and telecom lead in BDA consumption, spending together over $ 6.1bn.
LG Electronics had acquired more than 50% stake in US-based TV data analysis startup Alphonso for $80 mn. It aims to boost its software and service capabilities in the TV business to offer enhanced and customised services particularly to its North American customers by utilising Alphonso’s data, TV ad analytics and AI capabilities. Alphonso had shipped 90% smart TVs through which users could enjoy video content with an internet connection.
Infosys and men’s professional tennis governing body ATP has renewed partnership for another three years. As ATPs Global Technology Services Partner and Digital Innovation Partner, Infosys will leverage AI, Data Analytics, and Cloud to develop and innovate a dedicated digital tennis platform to deliver quality experiences for players, media, and fans. Infosys had developed ATP’s critical digital assets and infra — PlayerZone, Stats Leaderboards, Second Screen, the ATP app etc.
Business Communication tool Slack will now provide usage metrics to group owners i.e. last active time, device typically used, and a number of messages an individual has posted. The new features are available for Standard, Plus, and Enterprise Grid plans. Organisations, owners will be given authority to disable these metrics for groups they manage. Microsoft Teams also offers similar features after it enhanced analytics and reporting capabilities.
Indian Railways will use AI and data analytics to improve operational efficiency. ISB Hyderabad has been tasked to make a report on the industrial practices of AI on rail transport and benchmarking. Railways will also appoint a CTO in every zone with the mandate to track emerging tech in analytics and AI and use it in the rail system. AI and analytics will also be used in Railways PRS, the introduction of new trains, and predictive asset maintenance.
1) Smarter, faster, more responsible AI 2) Decline of the dashboard 3) Analysts for practicing decision intelligence, including decision modeling 4) X analytics 5) Metadata is the new black 6) Cloud is a given 7) Data and analytics worlds collide 8) Soon organisations will be either selling or buying data via online marketplaces, 9) Practical blockchain (for data and analytics) 10) Need to efficiently relate multiple data sets — people, places, things or locations.
In copper plans, the highly corrosive sulphuric acid (H2SO4) is pumped out using very expensive pumps that, as per OEMs rules, are to be changed in every 365 days. Hindalco collected data about these pumps – the vol. of H2SO4 it pumped out and its condition when it was replaced. All these data points were fed to an analytical model and the data scientists found that the pump could be used for 500 days. This reduced machinery costs and 15 yearly downtimes to 7.
American Express established a Data Analytics, Risk & Technology (DART) lab at IIT-Madras. The lab will be a world-class hub for research in risk analytics and behavioural sciences by using AI, ML etc. It will work on developing risk management techs, based on humans’ strengths and weaknesses. AmEx will provide scholarships to economically underprivileged and meritorious students, including ‘Ambition Awards’ for deserving women students at IIT Madras.
1. Loan moratorium: ML algorithms help the bank assess SMEs, market-related risks, and loan repayment capacity of customers which otherwise would be very difficult, if not impossible, to do manually. 2. Cybersecurity: AI, data analytics help in early fraud assessment, helping the bank to stay one step ahead of scammers and fraudsters. 3. Customer service: Conversational bots have upgraded far beyond simple FAQs, enabling 24X7 hassle-free service for the customers.