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DataXylo’s co-founder and CEO, Abhi Yadav, Quoted in an American Banker Article

Jeff Whitney | 1 minute read

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DataXylo’s co-founder and CEO, Abhi Yadav, was quoted in American Banker’s article, “Can AI make banks as good as Amazon at knowing customers?” 

The article discusses how banks are struggling with customer analytics:  “They have a lot of data, but they also have old databases, fiefdoms that don’t want to share customer data with one another and a problem in identifying the best ways to use the data.” It goes on to state that, “If banks want to get serious about providing the same type of personalized insight that big tech companies do, they’ll need to get serious about adopting artificial intelligence first.” 

The article highlights how, “because artificial intelligence software can continuously learn, it can better understand customers’ reactions and preferences over time than a human, who can’t remember and digest all that data for each customer,” and that “AI can respond much faster to changes in customer behavior or markets than traditional customer analytics can.” 

Abhi was quoted on the way in which AI-driven systems are designed to help with a major cross-channel identifier problem.  He talks about how current systems are using fuzzy logic to match customer records, despite the out-of-sync customer tags. “We use a combination of deterministic and probabilistic approach, so if certain attributes like your date of birth are matching, those records could be clustered together,” explained Abhishek Yadav, co-founder and CEO of DataXylo. “The software could also link several family members to one common household.”

Topics: Customer Intelligence