AI Data Strategy - 20-30% Cost Savings & Operational Efficiencies with Artificial Intelligence & Data Governance at Fortune 500

AI and Deep Learning Check Processing & Signature Verification. OCR - Optical Character Recognition identifies preprinted text and converts them to digital. ICR - Intelligent Character Recognition is an advanced form of OCR that processes handwritten texts.

• Manual and lengthy check clearing

• Lack of automated signature validation

• High variance in handwriting styles across people & poor handwriting quality

Solution

• Check processing automation with Signature validation

• Big Data Architecture for scalability

• Document Types: cheque & withdrawal slips

• Models: Document Classifier, Printed Text OCR, Hand written ICR, Crossing Detector, Signature Matching, Watermark Detector.

Benefits

• >30% operations efficiency

• Efficient fraud & error detection

• 20X compliance improvement

Learned Lessons

• Poor handwritten visibility

• Manual training of the models to improve the accuracy of the low contrast signatures

IT Service Management includes Problem\Incident\Change\Release\Knowledge Management functions

Business Challenges

• Organizations spend a lot of manual effort keeping the system up and running

• Varying support TEAMS skillsets (e.g., Oracle administrator, AWS cloud snowflake, etc.)

• Lack of predictability and resolving the problems before they occur

• Hard to analyze the impact of the new changes manually

Solution

AI and ML can revolutionize ITSM by automating repetitive tasks, providing proactive support, and analyzing and predicting patterns in in-service data.

• Classify incidents, reducing the time to resolve issues & minimizing the impact on users.

• Automatically assess the impact of proposed changes, reducing risks of downtime.

• Automate faster RCA in Problem management.

Benefits

• 30% operations cost reduction

• 5x better customer service

• 22% faster incident detection and response

Learned Lessons

• Poor data quality, due to lack of data governance (business and technical metadata)

• Talent with AI/ML skillset who could analyze the data patterns quickly

• Lack of access to production grade data for AI/ML model generation

Glossary

• AIOps - Artificial Intelligence Operations

• ML - Machine Learning

• ITSM - IT Service Management

• AIOps - Artificial Intelligence Operations

• RCA - Root cause analysis

Drone survey - Surveying is the precise science of determining the positions of, and the distances between, points in 2D and 3D space. Surveys provide critical information that enables informed decision-making regarding property boundaries, and more.

Business Challenges

• 100-200 year old paper documents with prone to manual errors

• Lack of transparency in to ownership

• Lack of web based anywhere interface access for approving authorities

• Lack of 3D reconstruction to visually verify and improve the accuracy

• Machine Learning of accurate zoning/boundaries

Solution

• Cloud solution to process the drone images efficiently

• Web based mapping and data analytics

• Machine learning photogrammetry

• Blockchain for transparency

Benefits

• 5x field time savings

• 5x cost savings

• 5x faster dispute resolution

Learned Lessons

• Merging the old paper based documents to drone images

• Initial model training time for accuracy

Major utility with tons of data all over the business units without any central data governance. Not able to predict the customer's next best action.

Business Challenges

• Multiple data platforms with shadow IT with out central analytics platform

• Lack of a platform for unstructured data storage & analysis

• Lack of Customer 360, lot of swivel chairs with multiple platforms

Solution

• Dynamic data tiering with Cold/Warm/Hot data strategy

  • Cold - Hadoop

  • Warm - NoSQL

  • HOT - Hana

• Predictive Analytics

Benefits

• 12% customer retention

• 15% storage cost savings

Learned Lessons

• Siloed data ownership

• Integrate with existing hardware (brownfield implementation) & software (analytics tools)

Context - Aggressive growth of client assets without a solid data foundation. Lack of a platform for advanced analytics.

Business Challenges

• Lack of TRUSTED central consolidated analytics platform

• Not able to meet business reporting SLA's

• Data duplication

Solution

• Customer 360 view on petabyte BigData platform

• Client lifetime value AI models

• Machine Learning automation - data cleansing/filtering

• Software delivery automation with DevOps

Benefits

• 8% customer churn reduction

• $20M risk mitigation

Learned Lessons

• Data quality

• Undocumented business SLAs

Enterprise data governance is foundational to being a data-driven culture & best customer experience. Data governance ensures data is accurate, usable, and accessible.

Business Challenges

• Lack of data ownership/leadership

• Siloed knowledge

• Lack of data lineage - hard to track the data flow

• Cybersecurity risks

Solution

• Business Metadata governance

• Technical Metadata governance

Benefits

• 26% improved data quality

• 30% improved productivity

• $20M risk mitigation

Learned Lessons

• Redundant data with lack of ownership (data stewardess)

• Multiple systems - one for business metadata and one for technical metadata

Certifications

• DeepLearning.AI, Sandford and Andrew Ng Coursera Machine Learning certification

• I am currently preparing for the "AWS Certified Machine Learning - Specialty" cert, part of my official AWS Community Builders program.

GitHub

https://github.com/CR-Digital-Innovation

My Forbes Articles

• How To Overcome Five Roadblocks When Implementing AI/ML In The Financial Sector - https://www.forbes.com/sites/forbestechcouncil/2023/02/03/how-to-overcome-five-roadblocks-when-implementing-aiml-in-the-financial-sector/

• AI As A Service Redefines Customer Experiences, But Think Twice Before You Jump Into AutoML - https://www.forbes.com/sites/forbestechcouncil/2020/07/10/ai-as-a-service-redefines-customer-experiences-but-think-twice-before-you-jump-into-automl/

• How To Leverage AI/ML For Predictive Incident Management -https://www.forbes.com/sites/forbestechcouncil/2022/09/19/how-to-leverage-aiml-for-predictive-incident-management/

• Business Friction Modernization: The CEO's Technology Prerogative For Tomorrow - https://www.forbes.com/sites/forbestechcouncil/2022/03/25/business-friction-modernization-the-ceos-technology-prerogative-for-tomorrow/

• Enterprise-As-A-Service Is The Future, Integration And Workload Migration Are The Key - https://www.forbes.com/sites/forbestechcouncil/2021/01/11/enterprise-as-a-service-is-the-future-integration-and-workload-migration-are-the-key/

Press Releases

CriticalRiver Partners with Accure.ai to Accelerate Artificial Intelligence and Machine Learning Adoption for Businesses

• https://www.deccanchronicle.com/business/companies/140223/criticalriver-accureai-join-hands-to-provide-accelerated-aiml-platf.html

• https://www.criticalriver.com/press-release/criticalriver-partners-with-accure-ai-to-accelerate-ai-and-ml-adoption-for-businesses