Experian Launches New GenAI Solution to Greatly Accelerate the Mod…

LAS VEGAS & COSTA MESA, CALIF.--(Business Wire / Korea Newswire)--At this week’s Money 20/20 show in Las Vegas, Experian® today announced the launch of Experian Assistant, a new generative AI-enabled solution that greatly accelerates the modeling lifecycle, slashing model-development timelines from months to days and — in some cases — hours. Integrated with Experian Ascend Technology Platform™, this transformative solution empowers users to further leverage their data for analytics faster and with less effort than ever before.

The world’s largest financial institutions use Experian Ascend™. In close collaboration with several customers, Experian Assistant was developed to offer a deeper understanding of credit and fraud data and provide criteria and proposals for adding; changing the weight of; or deleting specific attributes, data, or features to optimize analytical models. In addition, this innovative solution helped increase internal team productivity and has resulted in proven cost savings, improved data visibility and faster product deployment times.

“With Experian Assistant, there is a lot of efficiency and improvement in productivity,” said Victor Rwenhumbiza, EVP — Chief Data Scientist at Continental Finance Company, LLC. “We have reduced the time spent on data building by almost 75%, so we can build a model much quicker, and the code being generated by Experian Assistant is very high quality, enabling us to move forward much faster.”

With Experian’s Ascend Analytical Sandbox™, Experian Assistant enables businesses across all sectors to perform data exploration, build and deploy models, monitor their performance, and increase speed to market to launch new offerings. The solution increases productivity for data scientists, helping them work far more efficiently and faster, and accessibility for data analysts, allowing them to query data and write code through natural language conversation.

“Using natural language processing to help with complex use cases, Experian Assistant radically changes the workflow of data scientists and data analysts alike, enabling our customers to garner insights and make business decisions with less staff time invested and with faster turnaround,” said Scott Brown, Group President Financial and Marketing Services, Experian North America. “We are providing a tool that empowers our customers to reimagine how they engage with their data to do anything they want: enhance the consumer experience, rapidly test and deploy new offerings, improve internal productivity, spark collaboration across business functions, and so much more.”

Why it matters

Experian’s research shows it takes 15 months on average to build and deploy a model into production.

· Accelerating modeling processes helps avoid delays and maximizes productivity of scarce, highly trained and critical internal expertise.
· Improved ease of access to high-quality data accelerates time to actionable insights and strengthens the capability to build effective models.
· Efficient resource use and without the need for constant expert intervention lowers expenses.
· Evolving regulations require transparency and reliability as modeling technique complexity increases.
· Competition for analytics talent is at an all-time high; Experian Assistant will help a company’s current data scientists and analysts work more productively.

Experian’s integrated solution

What to expect from this innovative solution:

· Supports a natural language interface: interactions in a conversational manner to better understand the data and how to maximize its use
· Provides fast expert recommendations, coding and technical support: accelerated tactical insight generation, model development and deployment
· Provides deep insights into underlining data tables and metrics: advanced capabilities support quality insights around Experian datasets, with an emphasis on credit data and transparent models
· Reduces operational and cloud expenses: minimizes modeling iterations and compute power by selecting optimal modeling features
· Empowers users of all experience levels: leverages Experian Ascend Technology Platform and analytics tools with coding assistance, recommendations and deployment support
· Reduced risk of penalties: enhanced regulatory compliance through insights into reporting, identity management, risk assessment and transaction monitoring

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

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Website: https://www.experianplc.com/