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Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders

Business

Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders
Business

Business

Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders

2024-09-19 23:01 Last Updated At:23:25

LONDON, Sept. 19, 2024 /PRNewswire/ -- Experian's latest research, conducted by Forrester Consulting, delves into the strategies of senior decision-makers in the financial services and telco sectors across EMEA and APAC. The survey of over 1200 C-suite and Director level leaders in Australia, Denmark, Germany, India, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands reveals how businesses are leveraging Generative AI (Gen AI), consolidating datasets to improve decisioning models, and prioritizing customer experience to navigate challenging economic conditions and technological disruption.

The race to harness GenAI is well underway

Business leaders identified technological disruption as the third largest external factor impacting their business in the coming two years, putting emphasis on the race toward AI supremacy to improve business efficiencies and reduce costs. Sixty-eight percent of participants believe that competitive advantage in their industry will be dependent on who can make the best use of AI, and nearly three-quarters (73%) of the technology leaders are exploring GenAI use cases with a view to implement them within the next year.

Technological disruption is a catalyst for improving customer experience

Survey respondents highlighted a centralised cloud-based platform as a notable factor to improve risk strategy. Nearly half (47%) foresee additional credit stress and tightened lending criteria. Many risk leaders (42%) also indicated that the top risk priority is to improve the ability to identify financially vulnerable customers. Integrating data sources, leveraging AI and streamlining data-to-insight-to-action processes to enable lenders to achieve a holistic borrower view, improve customer relations and foster lending practices.

Combining datasets into a single cloud-based platform is key to enhancing analytical capability

Data and analytics leaders are prioritising a unified platform for siloed datasets to accelerate AI/ML model development and deployment. More than half (55%) of respondents believe current development times are too long, with 48% stating that they are updating their models more frequently due to shifting consumer behaviour.

"This year's research highlights the growing importance of AI and data analytics for businesses seeking a competitive edge," says Malin Holmberg, CEO, EMEA & APAC, Experian. "While we are still facing broader macroeconomic challenges, the majority of leaders remain optimistic about future growth and increased technology investment."

Download the full report here.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. Learn more at experianplc.com.

Contact: Yolanda Zondo, Yolanda.zondo@experian.com 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders

Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders

Highlights include AI-powered engineering, digital twins, AI fabric, and AI agents

TROY, Mich., March 11, 2025 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, will showcase how its cutting-edge artificial intelligence (AI) and simulation capabilities are transforming industries at Hannover Messe 2025, taking place March 31- April 4 in Hanover, Germany. Altair will demonstrate how its technology helps businesses innovate faster, optimize performance, and drive sustainable success through AI-powered engineering, high-performance computing (HPC), knowledge graphs, digital twins, and more.

"AI and machine learning are critical in achieving the quartet of speed, performance, quality, and cost-effectiveness today's organizations are seeking. Altair's AI-powered engineering solutions unlock deeper insights, accelerate design, and enhance decision-making to create a safer, more connected, more sustainable future," said Ravi Kunju, chief product and strategy officer, Altair. "At Hannover Messe, we will showcase powerful use cases, including one from CNH Industrial, where our AI-augmented simulation tools enabled a digital twin that streamlined product development with blazing-fast predictions and performance."

"Thanks to Altair's cutting-edge virtual product development solutions, we created a digital twin of our product, helping us gain a better understanding and slash our time to market," said Giuseppe Gullo, FEA design analysis engineer, CNH Industrial. "The AI-driven algorithms streamlined validation, considered complex effects, cut computational costs, and optimized our workflow."

Altair is leading the pack in using AI to solve real-world use cases. At the event, Altair will demonstrate the power of AI across industries, including:

In addition to its booth, Altair experts are featured in four speaking sessions:

At the event, visit the Altair booth at Hall 17, Booth D35. For more information, visit https://web.altair.com/en/altair-at-hannover-messe-2025.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.

Media contacts

Altair Corporate                               

Altair Investor Relations

Bridget Hagan                                 

Stephen Palmtag

+1.216.769.2658                               

+1.669.328.9111

corp-newsroom@altair.com               

ir@altair.com

Altair Europe/The Middle East/Africa   

Altair Asia-Pacific

Louise Wilce                                       

Man Wang

+44 (0)7392 437 635

86-21-5016635,,825

emea-newsroom@altair.com              

apac-newsroom@altair.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Altair to Showcase Leading AI, Simulation, and HPC Technologies at Hannover Messe 2025

Altair to Showcase Leading AI, Simulation, and HPC Technologies at Hannover Messe 2025

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