Tackling Business Turbulence with AI 1

Tackling Business Turbulence with AI

In a time of unprecedented global changes, we are seeing massive disruptions across all industries. In order to cope with the changes in our global economy, businesses need to pivot quickly and find ways to manage these changes effectively. This is where AI-driven insights become essential to making fast and accurate decisions – and doing so in days rather than months.


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Helping Industries Overcome Challenging Times

Every industry is affected by the global pandemic, some with challenges and others with opportunities, and organizations need new business insights in order to adapt. Companies need to rapidly transform their business strategies by finding the signals in the unprecedented noise. AI is the best mechanism to achieve this at the speed necessary in a changing world.

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Top Industries Impacted by Global Change

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Retail

The retail industry is on fire, but there are pockets of strength and opportunity. Retailers such as Amazon, Walmart, Lowe’s, Instacart, and Kroger are hiring over half of a million workers combined. At the same time, many retailers are physically shut down and need to move to fully online shopping experiences. Supply chain efficiency, demand forecasting, predicting staffing levels and assortment of goods have all become prime use cases.
Learn How AI Helps Retailers

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Manufacturing

Manufacturing has quickly moved from products that are seen as superfluous, such as high-end fashion, to products that are flying off the shelves, such as toilet paper and cleaning supplies. Most shopping is online, leaving manufacturers to rapidly determine supply chain logistics, demand forecasting by SKU and store, product pricing, and assortment, as well as which features customers need now.
Learn How AI Helps Manufacturers

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Healthcare

Healthcare is on the front lines of this crisis. Containment efforts are in place to slow the spread of the virus, but our healthcare systems are preparing for an influx of patients that could overwhelm even the most advanced healthcare providers. Hospitals will have to process rapidly changing data and data sources, and their agility and speed in doing so will be key to resource management in the coming months.
Learn How AI Helps Healthcare Companies

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Insurance

As the crisis progresses, the importance of the insurance industry and the enormous role it will play in our recovery is becoming increasingly clear. Globally, we are seeing insurance organizations work to support their customers, economies, and host countries. Despite disruption to their own operations – whether from employee illness or quarantine – and the severe economic downturn and uncertainty over the final impact of the disease on various lines of business, insurance companies are at the forefront of industries that will be heavily impacted by these changes.
Learn How AI Helps Insurance Companies

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Financial and Banking Services

The measures to contain the pandemic have already had a significant impact on business activity and consumer income, which, in turn, will temporarily increase delinquencies and defaults in many sectors. With AI and machine learning, financial institutions can take proactive steps to identify at-risk clients and help them during this period of stress. Banks that do so will earn client loyalty, better protect their shareholders, and position themselves and their communities to recover more rapidly.
Learn How AI Helps Financial and Banking Companies

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Government

Governments and the public sector have seen unprecedented changes from health, public safety, and operational standpoints. Forecasting staffing at the city, state, and federal levels has placed the system under tremendous strain. In addition, government support and running of financial entities, such as unemployment claims, have been stressed at ten times the pace as any other time in history. AI is a crucial tool in better predicting the effects of COVID-19 and forecasting utility and public infrastructure.
Learn How AI Helps Government and Public Sector

  • buy_purchasing_shop_cart_light
    Retail
    The retail industry is on fire, but there are pockets of strength and opportunity. Retailers such as Amazon, Walmart, Lowe’s, Instacart, and Kroger are hiring over half of a million workers combined. At the same time, many retailers are physically shut down and need to move to fully online shopping experiences. Supply chain efficiency, demand forecasting, predicting staffing levels and assortment of goods have all become prime use cases.
    Learn How AI Helps Retailers
  • robotic-hand-manufacturing-production-quality-light-light
    Manufacturing
    Manufacturing has quickly moved from products that are seen as superfluous, such as high-end fashion, to products that are flying off the shelves, such as toilet paper and cleaning supplies. Most shopping is online, leaving manufacturers to rapidly determine supply chain logistics, demand forecasting by SKU and store, product pricing, and assortment, as well as which features customers need now.
    Learn How AI Helps Manufacturers
  • health-care-heart-pulse-light
    Healthcare
    Healthcare is on the front lines of this crisis. Containment efforts are in place to slow the spread of the virus, but our healthcare systems are preparing for an influx of patients that could overwhelm even the most advanced healthcare providers. Hospitals will have to process rapidly changing data and data sources, and their agility and speed in doing so will be key to resource management in the coming months.
    Learn How AI Helps Healthcare Companies
  • binary-code-insurance-protection-security-light
    Insurance
    As the crisis progresses, the importance of the insurance industry and the enormous role it will play in our recovery is becoming increasingly clear. Globally, we are seeing insurance organizations work to support their customers, economies, and host countries. Despite disruption to their own operations – whether from employee illness or quarantine – and the severe economic downturn and uncertainty over the final impact of the disease on various lines of business, insurance companies are at the forefront of industries that will be heavily impacted by these changes.
    Learn How AI Helps Insurance Companies
  • credit-card-loan-fraud-money-banking-light
    Financial and Banking Services
    The measures to contain the pandemic have already had a significant impact on business activity and consumer income, which, in turn, will temporarily increase delinquencies and defaults in many sectors. With AI and machine learning, financial institutions can take proactive steps to identify at-risk clients and help them during this period of stress. Banks that do so will earn client loyalty, better protect their shareholders, and position themselves and their communities to recover more rapidly.
    Learn How AI Helps Financial and Banking Companies
  • public-sector-capitol-government-light
    Government
    Governments and the public sector have seen unprecedented changes from health, public safety, and operational standpoints. Forecasting staffing at the city, state, and federal levels has placed the system under tremendous strain. In addition, government support and running of financial entities, such as unemployment claims, have been stressed at ten times the pace as any other time in history. AI is a crucial tool in better predicting the effects of COVID-19 and forecasting utility and public infrastructure.
    Learn How AI Helps Government and Public Sector

High-Demand Use Cases in Turbulent Times

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    Production Model Validity

    Businesses leverage historical information to make reliable predictions, but the underlying data has seen an unprecedented break from what the world looked like just a few months ago. Analytical models that used to work effectively need to be retrained because the world has changed – the economy, consumer purchasing behavior, and the global and local supply chain are in flux across every industry. It’s like a compass just got demagnetized and no longer can determine where to point. DataRobot addresses these pain points by giving guidance on how and where data has drifted and which production models are no longer valid or predicting as effectively. Businesses need to get insights now that keep pace with the new speed of the market, and the DataRobot platform automates the rebuilding of those models in hours or days, versus weeks or months.

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    Data Science Automation

    With today’s economic volatility, data science teams are asked to do more work with the same staff or a downsized staff. To do this, teams need to become more efficient through the automation of time-consuming, repetitive, and mundane processes from data prep, model building, deployment, and ongoing ML operations. DataRobot’s platform helps teams become 10x more efficient through automation, collaboration among analytics staff, and the democratization of artificial intelligence across the business.

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    Intelligent Process Automation

    Intelligent automation helps companies unleash a wealth of new and more precise business insights from complex work and information that is typically untapped in images, documents, and PDFs. Intelligent automation is powered by machine learning and is the next generation of RPA (Robotic Process Automation), which is used to automate repetitive keystrokes within existing applications to perform tasks like auto-generating emails and scraping data from the web. DataRobot’s Intelligent Automation helps companies drive these insights exponentially faster with the leading enterprise AI platform.

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    Demand Forecasting

    In a rapidly changing economy, where supply and demand behavior has suddenly altered, companies are challenged to accurately make forecasts in scenarios where there is limited applicable prior data. Businesses now need to make smart and agile decisions and find signals in the new noise to be able to predict demand for their products and identify cost savings opportunities. This visibility drives their execution of staffing, shipping and call centers, manufacturing rates, supply chain logistics, and sales forecasting. And they need these insights faster than ever before, and with better granularity for geography, as market dynamics shift on a seemingly daily basis. DataRobot’s Automated Time Series systematically capitalizes on forecasting by injecting AI into the forecasting process.

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    Fraud Analytics

    Fraud detection and prevention has come front and center amidst the pandemic, especially across insurance, healthcare, and banking. With new claims coming faster than any point in recent history, companies are finding themselves unprepared for the sheer volume, and they need automation to detect which ones are likely fraudulent. DataRobot’s enterprise AI platform injects AI into business processes to automatically find complexities in data that more accurately and quickly make determinations of fraud. DataRobot can help detect fraud for industries such as insurance (automotive, life, home, workers comp, events, bankruptcy), healthcare (false claims and skirting privacy and new regulations), and banking (loan applications for personal and business).

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    Risk Management

    The global pandemic appears far from over, but the extent and timing of stabilizing and then returning to normalcy are unknown, and the situation poses risks to every person and business on the planet. There is risk to profitability, sales, customer retention, product, employment, supply chain, and, fundamentally, to business continuity. DataRobot’s enterprise AI platform helps companies identify pain points of risk, and then run “what if” scenarios. Companies can leverage AI for better accuracy over traditional business methods, automation for 10x the speed of developing risk models, and transparency of AI modeling for truly understanding key drivers to better manage that risk.

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