The past decade or more had been the germination bed of innovation in various sectors mostly dominated by innovation in technology. While digital transformation has been a key enabler for transformation of businesses across domains and accelerating growth of organisations, GCCs are playing a key role in helping global banks to innovate and improve their profit margins and are set to position themselves as leaders in the global banking industry.

New age technologies as Artificial Intelligence, Machine Learning are massively adopted to improve organisation’s efficiency, productivity, customer service and experience in turn bringing out great profitability in the highly competitive global market, which are solely managed by GCCs as they work on a close network of dedicated technology centres and Centre of Excellence (CoEs) having workforce of about 5000 to 20000 people globally.

In a bid to achieve the objective for the successful adoption and implementation of Data Science solutions in any organization, it is important to know the best practices being used in the domain ET Edge, a Times Group initiative together with Altair and Indo American Chambers of Commerce (IACC), is organising a closed door round table discussion, bringing together senior leadership of premium and legacy brands to brainstorm and discuss about the best practices, trends, and way forward.

Key Discussion Points:

• Provide clear vision and direction: the discussion forum aims in articulating the business benefits of Data Science, setting KPIs and priorities for investment, besides creating a supportive culture of innovation and experimentation, but ultimately translating to bottom line.
• Best practices for allocating resources: Data Science initiatives can require significant resources, both in terms of budget and Senior leadership needs to allocate the necessary resources to support these initiatives, including hiring qualified Data Scientists, investing in the necessary infrastructure and tools, and providing training and development opportunities for employees.
• Facilitating frictionless execution: Leadership and experts can help in removing roadblocks or friction that are a hindrance in the adoption of Data Science solutions including addressing organizational silos, breaking down cultural barriers, and ensuring that Data Science teams have access to the data and resources they need to be successful.
• Championing Data Science: Senior leaders can champion Data Science by talking about its importance, sharing success stories, and recognizing the contributions of Data Scientists. This can help to build awareness and support for Data Science across the organization.