WeDo Technologies, now part of the Mobileum group, has been named a Sample Vendor in Gartner’s Hype Cycle for Data Science and Machine Learning, 2019. According to the report, “data and analytics leaders should use this Hype Cycle to understand key trends and innovations, including those related to improving expert and citizen data scientist productivity, implementing new algorithms for cutting-edge use cases, and scaling and operationalizing data science projects.”
In the Hype Cycle for Data Science and Machine Learning 2019 (available to Gartner subscribers), Gartner states, “much of advanced anomaly detection is a competitive advantage today, but we expect most of the current technology driving it will be widespread and even taken for granted within 10 years because of its broad applicability and benefits.”
Gartner recently estimated “by 2022, new implementations of ML within CSP fraud management will reduce fraud losses by 10%.”
According to Gartner, “advanced anomaly detection is well-established in certain applications, such as cybersecurity, fraud detection for payment cards, financial market surveillance, and control systems and health monitoring systems for physical assets such as machines, vehicles and power plants. Its use is increasing in applications as diverse as enterprise security, unified monitoring and log analysis, application and network performance monitoring, business activity monitoring (including business process monitoring), Internet of Things predictive equipment maintenance, supply chain management, and corporate performance.” Further, “they can: detect subtle anomalies that might otherwise escape notice and provide earlier warnings of impending problems.” Gartner provides the following user advice, “risk managers, IT infrastructure and operations managers, manufacturing engineers, business operations and supply chain managers, healthcare professionals, public safety managers, customer experience and relationship managers and anyone else who uses monitoring or testing systems should make anomaly detection capabilities (both traditional and advanced) a major part of the selection process for the tools they will use.”
“As we enter a new phase of digital transformation and connectedness, the volume of data processed and the relations between entities will become more complex, making it increasingly difficult for companies to extract meaningful insights. Companies need advanced machine learning, AI and automation capabilities to help them detect risks and extract operational insights faster. We believe investing in these capabilities has ensured that WeDo remains at the forefront of Machine Learning development,” commented Bernardo Lucas, Chief Marketing Officer for WeDo Technologies, a Mobileum company.
WeDo Technologies’ risk management solutions, spanning fraud management, revenue assurance, and business assurance, provide a comprehensive set of tools to support companies as they embark on their digital transformation. In addition to providing machine learning and AI capabilities, RAID Risk Management platform is an on-premise / cloud-based platform that provides unrivaled scalability and flexibility.