Synchrony Opens Emerging Tech Center at the University of Illinois to Develop Artificial Intelligence Solutions
April 12 2018 - 9:00AM
Business Wire
The University of Illinois today announced that Synchrony (NYSE:
SYF), a leading consumer financial services company, has opened the
Synchrony Emerging Technology Center at the University of Illinois
Research Park.
The Emerging Technology Center will focus on advancing
Synchrony’s finance and technology capabilities as well as
providing real-world skills for students in artificial
intelligence, data science, human-centered design and other
emerging technologies. Current projects include ‘Ensemble Methods,’
exploring the potential applications of machine learning to credit
risk modeling, and the ‘Machine Vision’ project, aimed at
transforming the in-store shopping experience by removing the need
for the traditional checkout process.
“Developments in artificial intelligence and machine learning
have the potential to reshape entire industries. The key for the
financial services and retail sectors now lies in understanding how
to best harness these technologies to solve real-world problems and
deliver better hyper personalized customer experiences,” said Greg
Simpson, Chief Technology Officer and Artificial Intelligence
leader at Synchrony. “By bringing together the sharpest minds from
Synchrony and the University of Illinois, we now have the ability
to accelerate the development of these artificial intelligence
solutions while building our pipeline of technology talent.”
The students in the program will work closely with Synchrony
technology experts to commercialize solutions for the company’s
partners. Projects can range across multiple disciplines, such as
basic market and technology research, big data analytics,
proof-of-concept creation, data visualization, and software
development. Synchrony VP of Technology Ujjval Patel will recruit
and train student talent for the Emerging Technology Center.
The new partnership builds upon Synchrony’s existing
relationships with other educational institutions and complements
the company’s four global Innovation Stations.
“Synchrony is developing the future of finance, and what better
place than the University of Illinois where it can leverage our
expertise in data sciences and computing,” said University of
Illinois at Urbana-Champaign chancellor Robert J. Jones.
“Synchrony’s brand of financial firepower presents interesting
opportunities that will engage University of Illinois faculty and
students alike.”
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services
company delivering customized financing programs across key
industries including retail, health, auto, travel and home, along
with award-winning consumer banking products. With more than $130
billion in sales financed and 74.5 million active accounts,
Synchrony brings deep industry expertise, actionable data insights,
innovative solutions and differentiated digital experiences to
improve the success of every business we serve and the quality of
each life we touch. More information can be found
at www.synchronyfinancial.com and through Twitter:
@Synchrony.
About the Research Park at the University of Illinois
The Research Park at the University of Illinois at
Urbana-Champaign is a technology hub for startup companies and
corporate research and development operations. Within the Research
Park there are 115 companies employing students and full-time
technology professionals. More information at
researchpark.illinois.edu. Find the Research Park on Twitter at
@UIResearchPark.
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version on businesswire.com: https://www.businesswire.com/news/home/20180412005296/en/
University of Illinois Research ParkLaura
Bleill217.244.7744lwbleill@illinois.edu
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