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Jaywing Plc

Jaywing opens AI consulting practice

Risk and data science specialist Jaywing PLC (LON:JWNG), has launched a new consultancy service to help lenders drive value from Artificial Intelligence (AI) and machine learning.

The announcement follows the recent launch of Jaywing’s AI product – Archetype – which enables lenders to build vastly more predictive risk models in a fraction of the time of a traditional modelling project, whilst retaining complete control and visibility of the resulting model.

Technology research leaders Gartner have identified AI as a “Megatrend” for 2017, saying that it “will be the most disruptive class of technologies over the next 10 years due to radical computational power, near-endless amounts of data, and unprecedented advances in deep neural networks; these will enable organisations with AI technologies to harness data in order to adapt to new situations and solve problems that no one has ever encountered previously”. Increasingly, effective use of AI will become the difference between those businesses that are adopting it to gain an edge on their competitors, and those that are being left behind.

As AI evolves, and becomes ever more prevalent, it will enable organisations to transform the way they operate, using new tools and approaches to become more efficient. There is huge potential for lenders to start to take advantage of this transformation – but doing so involves many challenges, not least having the right skills and knowledge in-house (or perhaps just enough bandwidth) to identify key opportunities and then to execute on them.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.