A new press release advises that WeDo Technologies, the market-leading RAFM vendor which was recently acquired by Mobileum, will be included in reports about data science and machine learning by Gartner, the market research business. This particular ‘hype cycle’ from Gartner is intended to help readers understand trends and innovations relating to:
- the productivity of data science;
- new algorithms for new use cases; and
- the scaling up of data science projects.
Gartner repeats a key phrase that is increasingly used by commentators on data science and risk management: “advanced anomaly detection”. It is apparent that this is a way to refer to the technologies being developed by vendors like WeDo which is more agnostic about use cases than terms like risk management or business assurance. Per Gartner, advanced anomaly detection will be…
…widespread and even taken for granted within 10 years.
It is correct to observe that anomaly detection is already a common aspect of cybersecurity and control systems. However, some effort will be required to translate the generic concept of finding anomalies into examples that are meaningful to specific businesses. This is where domain expertise will be vital to obtaining the maximum benefit from technology. Firms like WeDo will need to bridge the gap between understanding the potential of technology and the interests of their customers.
Gartner has high hopes for new technology. A different Gartner report recently predicted that telco fraud losses would fall by 10 percent as soon as 2022, thanks to new implementations of machine learning. Meanwhile, WeDo are emphasizing that they have invested in artificial intelligence and automation in order to deliver solutions that will manage risks and deliver insights amidst rising volumes of data being processed and increased complexity of business relations. If you want to find out more, the press release is here.