A recent press release states, “NEC Corporation and dotData, Inc., a Silicon Valley venture in the automation of data science, today announced the provision and full operation of ‘dotData’ platform for the Sumitomo Mitsui Financial Group, Inc. (SMBC Group) in order to strengthen the Group’s analytical capabilities. In recent years, the need for big data analytics has been growing rapidly. However, there is also an increasing shortage of data scientists to handle this need. In order to address this issue, dotData automates data science processes through artificial intelligence (AI). dotData platform is now commercially available globally. NEC has obtained an exclusive license from dotData to provide this software across Japan.”

The release goes on, “Sumitomo Mitsui Banking Corporation, NEC and the dotData team have actively worked to incorporate AI into banking operations in order to create new service offerings since 2016. Following this success, the SMBC Group is now expanding the provision of dotData platform throughout five Group companies, thereby capitalizing on the experience and know-how gained through the Sumitomo Mitsui Banking Corporation deployment. Specifically, the SMBC Group aims to utilize dotData platform in order to address a variety of business issues, including the marketing of various financial products, such as credit cards and housing loans. Moreover, dotData platform eliminates most of the manual steps in a data science process, allowing data scientists to focus on higher value creation initiatives and tackle more business challenges.”

Read more at Financial Post.

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