YES BANK to unveils 20 data driven products Datathon

YES Bank which is a private sector lender has now significantly ramped up its focus on the analytics and data management which is going to held during the 22nd & 23rd DEC 2018 in Bangalore .. Below are the complete details

Background

• Datathon, launched in September 2018 aimed at augmenting YES BANK’s embedded data analytics & ML units to drive rapid prototyping of AI/ML based products, optimize digital product suite, and enhance product/service design and delivery, in an accelerated 100 day period
• Reached out to the global developer, coder and data science community to work on YES BANK’s data stacks – using curated, tokenized and anonymized data
• This is India’s first Bank Led Datathon

Response from Data Science Ecosystem

• 5500+ data scientist/engineers and developers joined the program and participated in 4 diverse Machine learning challenges over a week’s time, to qualify for the main challenge
• 200 top data scientists identified from the challenges were given 60 days to create working data models/prototypes which will be trained , tested and deployed by the bank by January

Participant Profile : Heavy Participants from Professionals

• Team Profiles: The top 200 teams include not only students from top technology institutes like IIT Bombay, Chennai, Kharagpur and ISI Kolkata but also 150+ professionals from organizations like IBM, Walmart Labs, Siemens, Amazon Development Centre, Capillary Technology, TCS, Accenture, Amdocs and Infosys among others, who are taking on the challenge beyond their professional duties.
• Why are Data Scientists from top Data Driven organizations participating:
  • Datathon has also seen participation from more than 4000 data science professionals, including 150+ data scientists in the top 200. This is a unique facet wherein data professionals from an non- financial services background are participating in the challenge beyond the work hours. Some perspectives from the top teams
  • “Financial services industry is fairly unique in terms of use cases and problem statements that data analytics professionals face. For us Datathon is a first of its kind opportunity where we are working almost as an extension of the bank’s data analytics team, creating live data models on practical use cases and data stacks.”- Team from Amazon Development Centre
  • What attracted us was the variety of use cases and the sheer volume of data. The entire concept of AI/ML is to work iteratively and the challenge of the huge data sets, and seeing our models develop into products was a major driving force for us. We are working on 2 models, one of which uses an algorithm approach we are experimenting with for the first time, and if we can successfully build a product around it, would be great for our learning”
• What’s in it for Students:
  • For students across top tech institutes, Datathon provides a rare opportunity to build algorithms and data models on Terabytes of ‘real data’ in a deployment ready environment. The cloud environment provided by YES BANK, through its partners Amazon Web Services and Cloudera, mimics its own data engineering environment
  • The Bank has also onboarded a pool of 20+ data science experts and leaders across industries, to support the data science teams as well as help the bank identify and share use cases for product development using Big Data Analytics, ML and AI. The experts from data driven companies like Cloudera, Amazon Web Services, among others will work on an ongoing basis with the Datathon team

What are the Use Cases and Products/Services Being Showcased/Developed?

The use cases developed through inputs from the bank’s leadership as well as leading data experts across industries were developed with a focus on

• Current business/service requirements which could be addressed through AI using innovative algorithms
• Data Models which can be integrated on the bank’s future technology platforms
• Future focused models using analytics techniques not being currently used in the BFSI industry

The key use cases on which applications are being developed are:

• Speculative service delivery
• Sales recommendation model for Relationship manager (internal application)
• Next Best Action model (With product specified )
• Customer Transaction Relationship Graph
• Fraud detection and analytics on CC/DC customer
• Transaction Pattern Development for Merchant and customer anomaly detection
• Customer Sentiment Analysis to predict Customer Engagement

What Happens at the Finale and Future Steps           

• At the finale the 200 data science professionals (top 50 teams), will showcase their final products – trained and tested on more than a terabyte of created and tokenized datasets
• 20 models will be identified by the bank which will be taken live within a month, working alongside the top teams
• The remaining models will move into the bank’s data product library and will be iteratively developed and taken live within a 3 month period

Future Steps on Datathon:  Developing a Community and Deepening the Talent Pool

• Datathon is also actively partnering with top technology institutes, and has partnered with top IITs and BITS Bombay, and will also host AI/ML challenges and data engineering workshops to deepen practical and technical knowhow of future technology leaders and widen the data science ecosystem.
• The 6 Machine Learning challenges hosted in partnership with IITs/BITS will lead up to YES Datathon 2019 to be hosted in June 2019