“As Artificial Intelligence (AI) becomes a driving force in a wide range of industries, enterprises are looking for AI expertise and technologies to be ahead of the competition”.
China is considered the second Teradata's largest market. Teradata Corp, a US-based big data and analytics solution provider, expects to increase its investment in China, aiming to raise local clients' demand for big data and AI technology via upgrading the needed products and services. According to Aaron Hsin, president of Teradata Greater China Region, clients' business models require more Agile Analytics to strengthen their competitive advantage and companies need more tools and technologies to cope with the chronic demands. Teradata's revenue in the US fell by 11 percent year-on-year to $830 million for the first three quarters in 2017, but its international revenue surged to $700 million. Vanson Bourne, a technology industry market research firm, conducted a survey of 260 large multi-national corporations for Teradata. The research showed that 80% of companies were investing in AI. On average, the enterprise is investing $6.47 million in AI technology, and this rises to $8.25 million average spend for companies in Asia-Pacific areas. Teradata provides data technologies and Deep Learning algorithms related solutions that outperform rules-based and Machine Learning approaches in the areas of fraud detection, manufacturing performance optimization, risk modeling, in order to help clients accelerate their AI initiatives. According to Atif Kureishy, vice-president of new business division at Think Big, all enterprises need their core strategies adjusted so that AI technology will be available and accessible to all staff, leading to the full potential realization of AI and the highest ROI.