Experian Innovation Lab Celebrates 15 Years of Transforming Industries

(BUSINESS WIRE) -- Experian celebrates the 15th anniversary of its Innovation Lab in North America, a cornerstone of the company’s long-time commitment to innovation around data and technology. Over the past decade and a half, the Lab has helped drive transformative advancements that have reshaped industries, including the introduction of no- and low-code AI solutions and groundbreaking credit risk assessment models designed to enhance financial inclusion.

“Our Lab has been instrumental in propelling our journey of pursuing groundbreaking ideas and insights,” said Shanji Xiong, Chief Scientist of Experian Innovation Lab. “By harnessing the expertise of our Ph.D.-level data scientists and software engineers in AI and machine learning, we’ve not only achieved technological milestones but also helped create solutions that truly make a difference in people’s lives.”

A Legacy of Innovation

The Lab’s achievements include its critical role in the development of the Ascend Analytical Sandbox™, the first Big Data architecture-based commercial product in our industry. This revolutionary tool, which evolved into the Experian Ascend Platform™, redefined data analysis by offering a cloud-hosted environment that delivers unparalleled insights, advanced data visualization, and seamless model development.

The Ascend Platform continues to push the boundaries of innovation with the recent launch of Experian Assistant, a cutting-edge Generative AI tool that leverages natural language inputs and user-friendly prompts to slash model development times and solve complex use cases. Powered by agentic AI technology, it also enables financial institutions to broaden the scope of data and utilize advanced AI and machine learning techniques to effectively score a larger number of consumers. This not only enhances accuracy and inclusivity but also aligns with Experian's mission of fostering greater financial inclusion.

Other notable Lab advancements include the first artificial intelligence-driven solutions for marketing and fraud detection, the first machine learning and optimization-based solution for identity resolution and management, and the integration of Generative AI into personalized consumer products, transforming how people manage credit and make informed financial decisions.

“These milestones underscore our commitment to mission-driven innovation,” said Kathleen Peters, Chief Innovation Officer at Experian Decision Analytics. “By addressing real-world challenges faced by our customers, the Lab has played a pivotal role in advancing Experian’s technological leadership and market competitiveness.”

Driving Experian’s Vision Forward

The Lab embodies Experian’s dual commitment to forward-thinking innovation and fostering a collaborative culture. Through leadership engagement and grassroots initiatives, the Lab accelerates progress by prototyping new technologies and encouraging employee-driven ideas. This dynamic approach ensures Experian remains at the forefront of data-driven advancements, particularly in areas like Generative AI and machine learning.

About the Innovation Lab

Experian Innovation Lab collaborates with Experian’s businesses to explore, incubate, test, and help bring products from concept through to development. The lab increases the pace of developing new products that are brought to market to help our customers grow, solve business challenges, as well as improve the consumer experience. The North American lab served as the catalyst for developing labs in the UK and Brazil, amplifying Experian’s innovation efforts across the globe. For more information, visit https://www.experian.com/innovation-lab.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

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