MARCH 2025ENTERPRISE SECURITY| | 19CXO INSIGHTSToday almost all mainstream industries and businesses are on various stages of digital transformation or data driven processes to reshape the way they communicate with customers, to reassessthe health of their finance and operations, and to renovate their decision-making methodologies. The businesses are competing to obtain and digest as much information as possible. The contact with customers has been more than merely call center or simple surveys, or monthly mail subscription or notifications. Multi-messaging channels and online-offline networksprovide businesses a set of effective tools to proactively communicate with customers, predict their demands and resolve their concernsbefore consequences occur. These transformations empower businesses tremendously. However,they also cause growing pains. It is not rare that the businesses today have to face terabytes or petabytes level of transaction volume with diversified data formats and protocols which are beyond their capacity plans ten years ago. It requires businesses to adopt modernized big data analytics technologies and new operations management methodologies. It also requires the entire executive teams to foster innovative data-driven culture and incorporate the new technologies into their business strategies. This article will discuss about Machine Learning (ML), Artificial Intelligence (AI) and Blockchain technologies, and why they are crucial for businesses to gain their competitive advantage. Today AI and Data Science have become moreindispensable to businesses. International Money Fund (IMF) and European Environmental Agency (EEA) have reported that the climate related extreme events, pandemics, and economic recessions occur more frequent, more severe, and more unpredictable around the world. This causes additional uncertainties in business operations and consumer behaviors. Businesses need more than ever to own capabilities of converting data into actionable insights efficiently and effectively. Companies of all sizes and locations feel they need to develop Data Science and AI models to drive their business decisions. The U.S. Bureau of Labor Statistics predicts that Data Science will see more growth than other field between now and 2029. Gartner analysts estimated that by 2025, 10 percent of enterprises who establish AI engineering best practices will generate at least three times more value with their AI efforts than 90 percent of enterprises who do not. AI is the science of enabling computers to simulate the human behaviors and decision-making processes to solve complex problems. For example, AI has been widely applied in unlocking insights from unstructured data. MIT Sloan estimates that 80 to 90 percent of enterprise data in Banking, Finance Services, and Insurance (BFSI) are unstructured like technical reports, images, audio and video communications, and it is growing three times faster HOW INDUSTRIAL LEADERS APPLY BLOCKCHAIN AND AI TO TRANSFORM BUSINESSBy Dr. Yingying Kang, Dir. AI & Data Science, Advanced Analytics, AssurantDr. Yingying Kang
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