Data Science Impact
Mikkel Dengsøe discusses the ROI of data science, highlighting a Monzo case where a machine learning model saved millions in fraud losses, prompting a call for more data hires.
Transcript
Yeah. Well, I think I I don't think the the same too, but maybe one more that stands out. I've often had this conversation with people, like, what's the kind of ROI or the impact of a data team. And I think the best example I've seen to date here is at at Monzo, one of our very good data scientists, the NICE, she launched this machine learning model against fraud. And over the course of a few months, we saved many million pounds in fraud losses by pretty much the work of one or two people. And I think at that point, the CEO came to us and she's like, can you please hire ten more data people? And I think that this is a this AI thing that's happened really lets more and more people get the chance to kind of chase these opportunities and and really kind of have this super clear ROI.