Sberbank creates algorithm to do data scientists' job

Sberbank creates algorithm to do data scientists' job

It seems that even data scientists are not immune to the corrosive impact of artificial intelligence on the jobs market. Russia's Sberbank claims to have created an algorithm - Auto ML (machine learning) - that "acts like a data scientist", creating its own models that then solve application tasks.

The bank carried out its first pilot in January, using Auto ML algos to create several baseline models to help with the targeting of sales campaigns.

In worrying news for Sberbank's human staff, Auto ML's models matched those produced by data scientists in terms of quality and managed to solve the task in 55 minutes, compared to the two days it took its mortal competition.

Anatoly Popov, executive board deputy chairman, Sberbank, says: "Introducing AI is one of the possibilities to increase the efficiency of all business processes at the bank. However, the creation of tens and thousands of models to cover all aspects of activity is an almost impossible task if data scientists and developers attempt to create and introduce models manually.

"That’s why we are introducing Auto ML, one of the most advanced approaches in the world to working with machine learning models."

Comments: (2)

Donald Bell
Donald Bell - IBM - Bentonville 18 February, 2019, 14:48Be the first to give this comment the thumbs up 0 likes

I wonder how they proved the models were of the same quality as human created models.  I wonder how they overcame the problem of computer generated models being over optimized for the sample data in just 55 minutes of processing.

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 18 February, 2019, 15:23Be the first to give this comment the thumbs up 0 likes

This seems like a form of "Smart Data Discovery", which was predicted by Gartner as one of the 10 hottest tech trends last year. As soon as I read about it, my first thought was "Will Smart Data Discovery transform Data Scientist from the "best paid" profession to "most unemployed" occupation?".

As is usual in the early days of any potentially-human-replacement tech, vendors of Smart Data Discovery have so far been positioning the technology as augmenting data scientists. If it delivers on its promise, Smart Data Discovery has the potential to supplant data scientists. But that should be a blessing since many industries including banking have been complaining of a severe shortage of data scientists (of the human variety, that is).