VIDEO | Celebrity Financial Chief Digital & Data Officer: AI Will Be More Relevant With More Complicated Problems

(US and Canada) Sanjay Saxena, Celebrity Financial Chief Digital and Data Officer, speaks with Robert Lutton, Sandhill Consultants Vice President, in a video interview about the data analytics’ impact on business, the future of AI, and how CDOs can establish an enterprise data and analytics center of excellence.

Speaking about data analytics’ impact on businesses’ top and bottom lines, Saxena cites the example of the operational effectiveness of the company’s loan origination. He notes that it is a pipeline involving many touchpoints and people, and tracking people and process effectiveness from the beginning is key to improving the business. Saxena mentions that he is working with industry associations, helping them figure out how to use predictive techniques to improve processes. 

Saxena reveals that Celebrity Financial is already working on several models and has projections for the business. He says that AI has been helpful, especially in a turbulent market. He adds that this has made the process more visible and decision-making more data-centric.

Discussing the future of artificial intelligence, machine learning, and deep learning, Saxena says they will be highly relevant as more complicated problem sets emerge. He explains the industry has yet to harness the power of big data. He adds that cloud computing has considerable capacity to run complex algorithms; the winners will be people who can foresee further into the future. Artificial intelligence and machine learning models will be crucial in making those predictions.

Next, Saxena offers CDOs the following tips — based on his experience at Celebrity Financial — for establishing  an enterprise data and analytics center of excellence: 

1. Establish both defensive and offensive strategies.
2. Pay attention to data quality and governance, and make the right investments.
3. Ensure good-quality data to ensure the right outcomes
4. Focus on translating data speak into business speak.
5. Avoid getting carried away by technology and frameworks, and pay attention to business needs.

CDO Magazine appreciates Sanjay Saxena for sharing his insights and data success stories with our global community.

See more from Sanjay Saxena

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