Jaywing launches consulting practice for artificial intelligence
Jaywing, a UK-based consultancy specialising in risk and data science, has launched a new practice aimed at assisting clients derive value from Artificial Intelligence (AI) and machine learning. The announcement follows the recent launch of Jaywing’s AI product – Archetype – which enables clients in the lending sector to build vastly more predictive risk models in a fraction of the time.
While AI is already revolutionising the way in which clients explore data, the consulting industry has been slow to adopt technology for its own sake. According technological leaders speaking at a recent conference discussing AI in the professional services sector, this could be because the consulting industry has become a victim of its own success, as it has relied on caution to deliver top results for generations. In the coming year, however, technology research leaders Gartner have identified AI as the next industrial “megatrend,” as effective use of AI increasingly becomes the difference between those businesses that are adopting it to gain an edge on their competitors, and those that are being left behind.
As organisations across the professional services world prepare to adapt to this new operational set-up, British-based Jaywing has put together a new AI consulting service geared to assist clients in their drive for digitally enhanced service offerings. Jaywing’s offer includes reviewing operational processes that could be improved by harnessing the power of AI and machine learning, such as the analysis of vast data sources that may otherwise seem impenetrable.
Building on 20 years of sector experience, the AI Consulting team, under the leadership of Data Scientist Dr Martin Benson, has already established a reputation for data science specialism in the consulting sector. The practice operates across multiple vertical markets, utilising applied machine-learning techniques to solve the modelling challenges presented by IFRS 9. The launch follows the release of a new product, Archetype, to its suite of data science products – a leading-edge AI predictive modelling tool based on a unique application of deep neural nets that effectively solves the “black box” problem preventing the adoption of neural nets in credit scoring.
According to Ben O’Brien, Managing Director, of Jaywing, the new practice will offer the lending sector, in particular, major opportunities, as many organisations do not have their own established data science teams, while very few have the credentials in artificial intelligence, machine learning and data science that Jaywing boasts.
O’Brien said, “Our team specialises in AI, big data, data science, machine learning and data analytics. From advising on the best approach to developing their artificial intelligence capability, to running processes on their behalf and integrating them within an organisation, to supporting an AI build, Jaywing is on hand to support lenders every step of the way with implementing AI in credit risk, and fraud.”
Rob Shaw, CEO, Jaywing added, “Over the next three to five years, AI technologies and predictive data analytics will be one of the most significant competitive differentiators in business. We are excited to pioneer AI technology and provide bespoke support to lenders looking to implement AI across their credit risk and fraud departments. We have the right team, the right technology and the best business model to create extraordinary value for our clients.”
