German firm Actico rolls out machine learning platform for Indian enterprises
Actico, a Germany-headquartered automation solutions provider, has announced the launch of Actico Machine Learning in India, a software platform that provides predictive capabilities for businesses.
The automation firm said in a statement that the platform enables companies to generate machine learning models through automated data analysis. The platform would also be available in flexible subscription models that could find usage with enterprises as well as small and medium businesses.
The solution could be used in automation scenarios around areas such as business lifecycle, fraud detection, product recommendations and risk management.
Actico’s platform also allows machine learning models to be automatically retrained, said the statement.
“Our platform overhauls the conventional approach of using machine learning in standalone systems and integrates it to the business by combining expert knowledge and data knowledge,” said Ajit Shah, managing director, Asia-Pacific, Middle East and Africa, Actico.
Shah also said that the platform would provide support throughout the process, ranging from data preparation to using the machine learning models in production systems.
“During our pilot projects, we have observed that using Actico Machine Learning can potentially help in reducing default rates by 30-40%, improve product recommendations by more than 50% and ensure 40% more efficient compliance case clarifications, across a wide range of customers,” added Shah.
As a part of the first few steps for the project, the company aims to target banks and financial institutions and has already signed up a client.
Actico, which deploys its solutions in 35 countries, operates through fully-owned subsidiaries in North America, Europe and the Asia-Pacific.