Experian Unveils AI-Driven Assistant to Speed Up Data Modelling Process
At the Money 20/20 event in Las Vegas, Experian introduced Experian Assistant, a cutting-edge generative AI tool designed to significantly reduce the time required to develop data models. The tool, integrated with the Experian Ascend Technology Platform™, has been launched to help users leverage data more efficiently, accelerating the model development process from months to days or, in some cases, even hours. Experian’s new solution aims to make data analytics more accessible and speed up the production of analytical models, particularly benefitting financial institutions.
Experian Ascend™ is used by some of the world’s largest financial organisations, and Experian Assistant was developed in collaboration with multiple key clients. The tool not only provides insights into credit and fraud data but also offers recommendations for optimising these analytical models by adjusting specific data features or attributes. Experian reports that its Assistant has already led to notable productivity improvements, increased data transparency, and reduced operational costs.
Victor Rwenhumbiza, Chief Data Scientist at Continental Finance Company, explained that the tool has enabled a 75% reduction in time spent building data models. “With Experian Assistant, we’re able to construct models much faster. The code it generates is of high quality, enabling quicker progress,” Rwenhumbiza commented. This enhancement in productivity is aimed at allowing data science teams to focus on deeper data exploration rather than coding tasks.
Experian Assistant offers businesses across multiple sectors access to Experian’s Ascend Analytical Sandbox™, a platform for model building, deployment, performance monitoring, and product launches. The solution allows data scientists to operate more efficiently and also broadens access to data analysis through its natural language interface, which enables users to query data and develop code through conversational prompts.
Scott Brown, Experian’s Group President for Financial and Marketing Services in North America, highlighted the transformative potential of Experian Assistant: “By using natural language processing, this tool reshapes the workflows of data scientists and analysts alike. We’re offering a solution that allows our customers to get insights and make business decisions quickly and with reduced staff time. Experian Assistant enables them to elevate consumer experiences, test and deploy new products faster, and increase internal productivity.”
According to Experian’s research, it typically takes around 15 months to develop and deploy a data model into production. With Experian Assistant, that timeline could be reduced considerably, helping organisations avoid delays, reduce costs, and maximise the productivity of their skilled data scientists.
Why it Matters
This new solution promises substantial benefits across several areas. By enhancing data accessibility and streamlining the modelling process, Experian Assistant offers businesses the opportunity to obtain actionable insights faster. Companies facing high demand for analytics expertise can now achieve more with their existing teams, reducing the need for continuous specialist intervention and potentially lowering operational costs. The Assistant is designed to help businesses meet the growing regulatory demands for model transparency, an increasingly important factor as the complexity of modelling techniques grows.
With a conversational interface that provides expert recommendations and coding support, Experian Assistant simplifies the model development process, allowing users of all experience levels to engage in advanced data analysis. This capability supports efficient resource allocation, reducing operational and cloud expenses through fewer model iterations and optimised modelling features.
Overall, Experian Assistant represents a forward-thinking approach to data analytics, providing businesses with faster insights, improved productivity, and greater data visibility in an increasingly complex regulatory environment.
