AI innovator Razorthink has developed a deep learning data science platform that will help businesses gain insights into every part of their business from a single platform.
Although there are hundreds of AI and deep learning tools that can enable businesses to use the data they hold to work out whether their performance is up to scratch, Razorthink’s Big Brain platform allows businesses to employ data science to specific issues, such as customer engagement, fraud detection, credit risk, wealth management and targeted marketing.
It uses algorithms that don’t learn from humans, but independently, collecting and analysing data from the wider world and applying that to any situation. It uses deep learning neural networks to detect subtle patterns that could have a huge impact on business, continually adapting its algorithms according to the insights it pulls off.
“We are investing in Deep Learning AI as we believe it’s going to take predictive analytics to new heights,” said Balaji Narayanamurthy, EVP and Head of Business Intelligence Unit, Axis Bank.
“Razorthink is one of the very few players who has developed expertise in this area and is helping us to predict customer behavior with superior accuracy. We look forward to using Razorthink Big Brain to develop this unique expertise within the bank and solve even more complex problems.”
One of the key sectors Razorthink Big Brain could benefit is in the fintech and banking sector, where having insights into wider security issues is key for product development.
“We are at a unique time when technology is disrupting almost every industry,” said Gary Oliver, Chairman and CEO of Razorthink. “Banking is at a critical juncture as Fintech start-ups and tech giants deliver new types of financial products centered around the convenience of digital banking.
“But traditional financial services firms have the opportunity to create a sustainable competitive advantage if they apply Deep Learning to big data and transform into a customer-centric digital finance business.”