American Express sets up data analytics, risk & technology laboratory in IIT Madras
The laboratory will also explore a range of verticals
The American Express data analytics, risk and technology (DART) laboratory was inaugurated at the Indian Institute of Technology, Madras in Tamil Nadu.
The lab aims to establish itself as a world-class hub of research in risk analytics and behavioral sciences by leveraging Machine Learning/Artificial Intelligence (ML/AI) and related technologies.
The overarching goal of the lab is to engineer technologies to best manage risks by developing a science-based understanding of humans’ strengths and weaknesses. It will also build talent for industry by partnering with academia.
The establishment of the lab has been undertaken through a grant by American Express to promote talent and diversity in technology.
American Express has also instituted annual scholarships for economically disadvantaged and meritorious students, including Ambition Awards for women students at IIT Madras.
The laboratory will also explore a range of verticals with key emphasis on manufacturing, finance, healthcare, operations management and smart cities. The research will be publicly available to be used for government collaborations and education advancement.