Jaywing PLC Launch of Archetype
January 26 2018 - 2:00AM
RNS Non-Regulatory
TIDMJWNG
Jaywing PLC
26 January 2018
RNS REACH
26(th) January 2018
Jaywing plc launches new AI technology and consulting
services
-- Data modelling technology product, Archetype
-- AI consulting practice to help clients use AI
Data science specialist Jaywing (JWNG: AIM), has launched
Archetype, a new technology product that uses Artificial
Intelligence (AI) to generate statistical models. The product can
be used for almost any predictive modelling purpose, including
predicting customer behaviour or credit risk. It has also launched
a new consulting service to help clients implement AI into their
processes and operations.
Archetype generates more powerfully predictive models, while
significantly reducing the time and effort needed to create them.
In particular, Archetype overcomes regulatory transparency concerns
that have until now prevented the use of AI in credit scoring, a
significant advancement in the risk technology market and for which
Jaywing has applied for a patent.
Organisations looking to make their first steps into AI-based
modelling can make use of Archetype supported by Jaywing's AI
consulting practice, or sign up to use the product themselves
through an easily-accessible web-based interface.
Jaywing's new AI Consulting service is aimed at organisations
with or without established data science teams, offering specialist
support from advising on the best approach to developing their AI
capability, to running processes on their behalf and integrating
them within an organisation, to supporting an AI build.
Rob Shaw, CEO, Jaywing plc said: "We've been able to capitalise
on almost twenty years of data science heritage to create an AI
modelling solution that can be used for any statistical modelling
purpose, in both of our key marketing and credit risk
client-bases.
"The ability to meet regulatory transparency requirements is a
huge step forward for the financial services sector through a
completely new and innovative approach to AI development and
training. It can also be used for other applications or sectors
such as price elasticity, medical or pharmaceutical where it is
important to have guarantees a model behaves in a particular
manner. It's a highly sophisticated breakthrough in AI, which is
why we've applied for a patent.
"Many organisations do not have their own data science teams,
and established credentials in AI, big data, machine learning and
data science are rare.
Yet over the next three to five years, AI technologies and
predictive data analytics will be one of the most significant
competitive differentiators in business. Jaywing is well-placed to
help clients take advantage of this."
-END-
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