Researchers at the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) have revealed Data Wise. It is an autonomous AI platform created to give small and medium-sized enterprises (SMEs) access to advanced data insights without hiring specialists.
A Solution to the UAE’s Data Scientist Shortage
The United Arab Emirates (UAE) is currently facing a rising demand for data scientists. According to the Cooper Fitch, data science ranked among the top 10 skill shortages in the country. Moreover, many SMEs struggle due to limited analytics tools and high hiring costs, despite being optimistic about the growth.
Data Wise aims to fill this gap by automating the complete data analysis process. Moreover, businesses can upload raw data, including purchase histories or customer surveys, and instantly receive plain-language insights. Hence, it removes weeks of manual analysis and potentially saves thousands of dirhams in consultancy and staffing fees .
How Data Wise Works
We wanted to share with you that Farkhad Akimov (Machine Learning master’s graduate), Zangir Iklassov (assistant teaching professor), and Munachiso Nwadike (research engineer) are the people behind the development of this platform. However, this platform mainly copies the workflow of a professional data scientist.
Moreover, many AI agents run parallel tests on hypotheses to ensure that only reliable insights are delivered. However, there are tools, like Tableau, which streamline the process for technical teams. On the other hand, Data Wise is developed for business leaders and decision-makers.
Nwadike said, “Today, companies are drowning in data, but we wanted to create a platform to support leaders to perform without waiting for the technical teams.” Hence, it proves the platform is created to help the leaders.
Outperforming Human Experts
This platform was tested against the top-ranked largest data science competition hub in the world, Kaggle, to validate its performance. Moreover, the AI system also outperformed expert-built solutions across diverse datasets, like customer behaviors and data risks. Hence, it highlights its accuracy and real-world value.
Cost Savings for UAE SMEs
You could spend Dh300,000 yearly to hire a skilled data scientist in the United Arab Emirates (UAE). On the other hand, Data Wise can give a comparable insight for a fraction of the cost. Moreover, the system has a broader application in retail, healthcare, and manufacturing. Hence, you can perform the following task with this tool:
- Predict customer churn
- Optimize inventory management
- Identify operational cost savings
It is currently only available as a demo on Amazon Web Services. However, it is being further developed for commercial deployment.
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