Teradata targets Chinese clients' need for AI

Teradata Corp, a US-based big data and analytics solution provider, is gearing up to increase its investment in China, aiming to meet local clients' increasing demand for big data and artificial intelligence technology via upgrading the needed products and services.

Aaron Hsin, president of Teradata Greater China Region, said that as artificial intelligence becomes a driving force in a wide range of industries, companies were seeking AI expertise and technologies to stay one step ahead of the competition.

“The regeneration speed of clients' business models is faster than ever before, requiring more agile data analytics. As more data of different structures and elements become available, companies need more tools and technologies, as well as holistic thinking and greater sensitivity for dynamic analysis, to address the chronic demands," he said.

Hsin said that clients need bigger investment in data analytics, especially in the aspects of data insight and analytics, to strengthen their competitive advantages.

China, currently Teradata's second-largest market as well as the fastest growing one, will receive more investments from Teradata in the future, Hsin said.

Teradata reported its revenue in the US fell by 11 percent year-on-year to $830 million for the first three quarters in 2017. While its international revenue surged slightly to $700 million during the first three quarters last year, with one percent year-on-year increase.

Vanson Bourne, a technology industry market research firm, conducted a survey of 260 large multi-national corporations for Teradata last year. The survey showed that 80 percent of companies were investing today in AI, but one in three business leaders believed their companies would need to invest more over the next 36 months to keep pace with competitors.

The report found that companies were bullish and expected the AI investment to be worth the upfront cost. On average, the surveyed company are currently investing $6.47 million in AI technology, and that number rises to $8.25 million average spend for companies in Asia-Pacific areas.

To help clients accelerate their AI initiatives, Teradata provides data technologies and deep learning algorithms related solutions that significantly outperform most rules-based and machine learning approaches in the areas of fraud detection, manufacturing performance optimization, risk modeling, and precision recommendation engines.

Think Big Analytics, a Teradata subsidiary company, has helped Danske Bank, a big Danish lender, to launch an AI-driven fraud detection platform, which is expected to meet 100 percent return on investment in its first year of production.

Atif Kureishy, vice-president of new business division at Think Big, said that a significant trend is emerging that companies in all kinds of industries are identifying AI as a strategic priority for competitive advantage.

“However, the companies still need their core strategies adjusted so that AI technology can be accessible and available to all staff ranging from the data center to the management, leading to the full potential realization of AI and the highest ROI, " Kureishy added.

Lan Linfeng contributed to this story.