Mumbai, December 08: Data analytics is the systematic examination of raw data to uncover meaningful patterns, trends, and insights. It involves applying statistical and computational techniques to transform data into actionable information, facilitating informed decision-making. Widely employed across industries, data analytics empowers organizations to understand customer behavior, optimize operations, and gain a competitive edge. Using various tools and methodologies, this field enables businesses to extract valuable knowledge from large datasets, making it an integral part of modern data-driven strategies.
Join Dr. Anuradha Bhatia who Heads Data Analytics & AI for Standard Chartered Bank in conversation with Mr. Marquis Fernandes, who spearheads the India Business at Quantic India, as they delve into the dynamic world of Data Analytics, where they incorporate AI/ML into product development, leveraging chat bots and predictive models to enhance customer experiences, while maintaining a strong focus on security, especially in projects like fraud detection. Emphasizing the positive impact of timely data availability, they underscore the importance of strategic transformation through a gradual approach, clear vision, leadership guidance, and up-skilling initiatives for organizational growth.
Dr. Anuradha Bhatia, a Distinguished Engineer & Data Analytics professional, is the Head of Data Analytics and AI at Standard Chartered Bank. With more than 2 decade of rich experience in data strategy and transformation with growth mind set to explore, engage and elevate the design development and quick-to-market customer experience. Building sustainable solutions with a client-centric approach. Model building with a focus on explain ability, decision-driven approach, fairness and bias free models. Delivering and supporting projects on Fraud detection, focusing on security in the complete data life cycle from inception to deployment. Building capabilities on the products with AI/ML capabilities. Adopting processes and tools, driving state-of-the-art solutions that empower sustainability in the domains of Data, Analytics, Data Architecture, Data Strategy, Cloud, Block chain, DevOps, MLOps, DevSecOps, Cyber Security, Trust Data and Resilience.
How do you stay updated on the latest trends and advancements in the field of Data Analytics and AI, and how do you incorporate this knowledge?
The field of Data Analytics and AI is evolving every minute as we speak, write or discuss. Learning from peers, reading articles and a continuous learning approach keeps me updated with latest trends and advancements in the domain. These developments are important to learn and adopt as this helps us build capabilities across the teams and also helps the teams to enhance their knowledge. Open discussions on adoption and brainstorming sessions help us develop the right mind-set to plan and adapt to the change.
How do you explore and engage with emerging technologies, and how have you integrated AI/ML capabilities into product development to enhance customer experiences?
The AI/ML capabilities with Chabot’s is helping the organizations across to enhance their customer experience. Th quick to market and solutioning the customer ask, is on priority to solve with AI. The prediction models help build capabilities to understand the customer behavior, customer personas to offer them products as per their requirements.
How do you address security concerns throughout the data lifecycle, from inception to deployment, particularly in projects related to fraud detection and other sensitive domains?
As I always focus that Security is a very important part of any product life cycle from inception to deployment and also for the customers. Every individual is accountable for the same. The processes are established from the initiation of the project so that there is no Data leakage throughout the lineage. The sensitive data is taken care of, to avoid any misuse of data. With AI, ML capabilities, identifying the pattern of fraud helps us identify the same, customers default pattern also highlights the next default pattern. Still lot of work is required to identify and work on potential frauds in various domains.
How do you ensure alignment between data strategy and business strategy, and can you provide an example where this alignment led to a significant positive impact?
As Data and Business strategy act as Heart and Brain of the organization, and it’s important for each to work with vision to accomplish a positive impact. Timely availability of data with the right technology stack, working together to identify the business needs on data requirements and being able to deliver the same, creates positive impact.
What key message or guidance would you convey to your peers or emerging professionals in the realm of data strategy and transformation, drawing from your wealth of experience and successes?
Strategy and transformation is important for every organization to grow and succeed. We need to understand that changes do not happen overnight, and we need to strategies to transform. The transformation towards our vision needs to happen from the grass root level, with people ready to adapt to change with a positive mind-set. Clear vision, direction from leadership, up skilling forums, and most important Leaders leading by example motivates everyone to envision the goal and be part of the strategic transformation journey.
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