Interview with Sandeep Dutta, Head of APAC Business, Fractal Analytics
Please give us a brief on Fractal Analytics?
Fractal Analytics is a strategic analytics partner to the most admired Fortune 500 companies globally and helps them power every human decision in the enterprise by bringing analytics & AI. Fractal Analytics has presence across 12 global locations including the United States, UK and India and has been recently featured as a leader on Forrester WaveTM: Customer Analytics Service Providers, 2017. Fractal has also been recognized as “Hot Artificial Intelligence (AI)” company by Forbes and a “Cool Vendor” and a “Vendor to watch” by Gartner
How will Fortune 100 companies solve problems integrating AI
By solving Enterprise-Level Business Problems. Identify specific business problems that can be addressed. Ensure they are strategic and impactful for the broader benefit of the enterprise vs. department or mid-level business problems.
Embed new AI-driven solutions into decision-making tools and processes.
By enabling an enterprise-wide data strategy and governance process which is a critical enabler for successful analytics and AI implementation to solve problems
By investing in big data architecture which can provide scalable, fast, and responsive BI and AI solutions to manage both structured and unstructured data while solving those problems
What are the advantages to shift from Business Intelligence to Artificial Intelligence? Is it easy? What are the challenges? How are corporates reacting to the shift?
The greatest advantage is that AI transforms our understanding of the user, helping us serve information, recommendations and insights that the user really needs to know, even before she “wants” to know. Additionally, by instrumenting how the user is interacting with these insights/recommendations and acting on them, the AI within BI can learn to be even more relevant and actionable
Is it easy? No. Companies are trying to figure out the reality vs. the hype and how to either begin or accelerate their own journey. For these companies, it’s still a significant challenge if not a daunting
The challenges # Lack of BI to AI Strategy – devising a strategy before adopting a solution is very important as confusion may lead to the failure of the adoption. Attempting BI to AI without the fundamental preconditions for success in place is likely to be frustrating, painful, costly, and destined to fail. # Many firms also have concerns over technology selection, cost, integration, privacy, security, and
regulatory challenges. #Cultural adoption is perhaps the biggest single challenge and requires
the most tops-down leadership to define, communicate, and reinforce the vision/strategy.
The reaction to the BI to AI shift is interesting. Corporates are trying to Identify and build champions or change agents who can help drive the cultural awareness and adoption needed to gain traction.
What are the opportunities for AI for companies in Dubai? what is the trend like?
Research conducted by the International Data Corporation (IDC) finds that the biggest opportunity for AI in the Middle East and Africa region is in the financial sector where it is estimated that 25% of all AI investment in the region predicted for 2021, or $28.3 million, will be spent on developing AI solutions. This is followed by the public services, including education and healthcare, and the manufacturing sector.
The UAE is soon transforming into an Artificial Intelligence-powered society and projects like Smart Dubai are working towards providing a seamless smart transformation in everyday living.
UAE Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has launched the UAE’s first Artificial Intelligence (AI) strategy, marking a new level of innovation built on Smart Government. The strategy is the first of its kind in the region and the world and will see investment in the latest AI technologies and tools to enhance government performance and efficiency