SAS commits $1 billion investment in AI-powered analytics solutions

Analytics solutions provider SAS will be investing $1 billion over the next three years to advance the development of cutting-edge analytics solutions tailored to specific industries. 

With a focus on sectors such as banking, government, insurance, healthcare, retail, manufacturing, and energy, SAS aims to leverage its expertise to address unique challenges faced by organizations. 

All industry solutions developed by SAS will run on SAS Viya, its cloud-native, massively parallel (artificial intelligence) AI and analytics platform. This platform provides a robust foundation for industry-focused analytics, enabling resilient organizations to discover opportunities amid economic recessions, supply chain disruptions, workforce shortages, and regulatory changes.

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Jim Goodnight, CEO of SAS, emphasized the importance of industry-focused analytics in helping businesses overcome challenges. He stated that by investing in AI, machine learning, and advanced analytics, SAS will continue to support companies in combating fraud, managing risk, enhancing customer service, and more. The company remains dedicated to innovation and providing the best analytics solutions in the market.

Democratizing data analytics

The billion-dollar investment will fund various initiatives, including research and development, dedicated line-of-business teams, and industry-specific marketing efforts. SAS will collaborate with data scientists, statisticians, software developers, consultants, systems engineers, and marketers who possess deep industry experience. This multidisciplinary approach will drive innovation and enable organizations to democratize data analytics, empowering individuals with diverse skill sets and job roles to participate in the analytics process.

As the adoption of AI, machine learning, computer vision, and IoT analytics continues to grow, SAS recognizes the importance of offering low- or no-code options to facilitate broader participation. By leveraging solutions running on SAS Viya, data scientists, statisticians, business analysts, city planners, medical personnel, and frontline workers can all benefit from advanced analytics. This inclusive approach enables organizations to detect and prevent fraud, improve public health and safety, enhance patient care, and optimize manufacturing assembly lines.

SAS already provides a wide range of industry-specific solutions, which will be further refined through this investment. Also, SAS plans to develop new solutions to address evolving needs in different sectors.

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