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2023 Tech and Industry Predictions from Teradata Experts

By: Teradata experts

From advances in AI/ML tied to digital twins & simulations to the expansion of satellite/cellular partnerships to expand coverage to remote or under-served areas, our tech & industry experts weigh in on what they think are the game-changing predictions for 2023.

Technology & Business

Dan Spurling, SVP, Product Engineering

Trusted Social Connectedness: While Twitter is imploding, and social media is generally seen as a negative, I believe that humans still crave connectedness in this space – especially when it is intentionally curated to ensure dependence – but that we will require both 1) greater transparency into who is stating the information that we consume, while 2) ensuring some form of security and privacy only with those whom we select (obvious potential conflict)

Digital Twins: I believe there will be advances in the ML/AI evolution tied to digital twins or simulations; moving beyond just sensors that predict machine failure or buying propensities, and moving into predictions of economic markets, food production, population health, etc.

Data Reduction: There is an exponentially increasing amount of data, but I believe we will see rise of solutions that deduce the meaningful bits of data from the overall mass of data collected, or even reduce the footprint of data using new technologies beyond current classic data storage techniques

Personal Security: (Unfortunately) Driven by greater government destabilisation and associated erosion of trust in government, I believe we will see increasing tech advances in the areas of personnel security and security monitoring

Risk Aversion: I predict that there will be reduced willingness to take large risks or make investments into risky ideas, thereby increasing the success of entrenched incumbents and decreasing the broad proliferation of new tech adoption across the large enterprises, resulting in reduced startup growth and flat to growing revenue for large software or service providers.

Michael Hay, VP, Product Management

Consolidation, Concurrency and Currency: With the looming recession, there is a natural tendency to figure out how to do more with less. How to focus on profit overgrowth. As a result, customers will shrink their footprints and seek to do the same or more work. This speaks to deploying Data and Analytics systems that can incrementally scale, but return a benefit significantly larger than a nominal incremental investment. Another way to look at this is platforms that have the virtues of being cheaper to perform queries, experiment, and avoid the data copy tax will win.

More, not less, Cloud providers:

Two global patterns, increased protectionism and a strong shift towards profitability to weather the looming recession, point to the genesis of more, not less, cloud providers. These new providers can be one of:
• General providers focused on meeting country or region-specific protectionist policies and avoiding laws and regulations with global reach, like the USA Cloud Act.
• Cloud provider plays that emphasise a special focus on unique industry requirements. For example, Energy or Healthcare companies could shift their business towards providing cloud and analytics services with acute emphasis on their respective industries and regulatory regimes.
• SaaS companies who have reached sufficient scale and must become profitable to survive.
These providers will be looking for software and services that enable them to be successful as cloud providers, and companies who are capable of supplying them, will win.

Retail

Mike Skypala, Industry Lead, EMEA

Hybrid is here to stay: People are now using both online and offline formats to shop, with in-store experiences seen as a chance to touch, feel and see the products. Many retailers are following IKEA’s lead by showing consumers what a full “at-home room” could look like in their retail spaces, making it a more visually led interaction. This blended approach to shopping is likely to stick around, which adds a certain element of complexity for retailers looking to track and interact with customers on their purchase journey and understanding the profitability of each, with analytics helping to comprehend these shifts and changes in behaviour.

Cost conscious shopping will intensify in 2023: As the cost-of-living crisis continues, there will be a sustained focus on value and cost-effective shopping as we head into a New Year. With the launch of an “Essentials” range in almost every supermarket speaking to this ongoing focus, consumer spending on non-essential goods, including fashion, homeware and beauty is likely to also continue to fall. As a result, retailers should ensure a steady flow of canned foods and cupboard essentials as these remain the priority items for many.

Sustainability remains a priority: Though sustainability has been at the forefront of consumer minds for years now, we’ve yet to see it truly become a systemic part of a retailer’s business and baked into every decision made; instead, it is often a siloed group of ad-hoc initiatives. By collecting and examining data on a range of sustainability-related issues — from energy use and carbon emissions to mobile consumption habits — companies can generate insights that would drive their sustainability initiatives and inform their long-term strategy moving forward. It’s likely that some form of legislative policy will come in either within this coming year or the next, meaning retailers will have to reach a certain level of sustainable practice in order to keep trading.

Convenience shopping is set to get more convenient: It’s likely that automatic, “scan as you go” and self-check-out options will continue to increase around the country as consumers continue to demand more convenient, faster and streamlined shopping experiences. There’s an opportunity for retailers to expand on personalisation elements in real time, based on actions as consumers walk round the shop, moving away from static data and towards contextual data. Additionally, the U.S. is leading the way with computer vision and smart trollies in particular, which pick up both what is being put in a shopper’s trolley, as well as what needs replenishing on the shelves.

Dave Spear & David King, Senior Industry Consultants for the Retail, CPG & Hospitality

Industries at Teradata

Revenge of the CEO: Unlimited free returns? 15-minute delivery? Metaverse? Expect intense scrutiny from Finance on the ROI and NPV of such investments, with a tougher hurdle due to rising interest rates. Expect “sure” cost reduction proposals to win over “wishful” growth projects as investors crave cashflow and profitability.

Healthy Dose of Retail: Health retailing continues to blur the line between traditional healthcare providers and general retailers. We’ll see more small and large acquisitions by companies like Amazon, Walmart, Target, CVS and Walgreens, all trying to deliver new health services at affordable prices.

QR Beyond James Bond: QR-codes make a giant leap forward in retail. These square codes will unlock huge amounts of data for consumers to engage with and fuel new innovation in supply chain analytics.

Techies More Approachable: Silicon Valley layoffs and tougher work policies provide a window for traditionally less sexy retail tech teams to attract strong talent on the rebound.

Telco

Nadine Manjaro, Director, Industry Consultant in Telecommunications and IoT

Fixed Wireless Access: In 2023 US operators will deploy more Fixed Wireless Access solutions.

They will focus on streamlining offers to areas where they have excess network capacity to prevent negative impacts to mobile voice and data services. T-Mobile will continue the lead in the US with over 1.5 million FWA customers through September 2022, followed by Verizon with 1 million FWA customers. Both companies have publicly shared FWA subscribers’ projections. Verizon’s plans to reach 4 to 5 million subscribers by 2025 and T-Mobile’s plans to reach 7 or 8 million within a similar period.

Private 5G: There will also be an expansion of Private 5G services in manufacturing and retail enterprises to optimise manufacturing processes and retail experiences. Large enterprises are seeking end-to-end visibility throughout the manufacturing process as well as the supply chain process. Private 5G will enable more consistent coverage and support more advanced capabilities such as machine vision analytics which enables manufacturers to spot defects earlier and take corrective actions before the produce reached finished goods status.

Cellular/Satellite Partnerships: Expansion of cellular/satellite partnerships to extend coverage to remote and underserved areas. SpaceX and T-Mobile are teaming up to deploy cellular systems on low orbit satellites, this will fill in some coverage gaps in remote areas along some less travelled roads, national parks, and deserts.

Telcos in the cloud: Many Telcos will continue migrating their data to the cloud as a means of reducing costs and enabling wider use of data insights for decision making throughout the different departments. They will encounter cost overruns since some of the providers selected demonstrated value with small, limited workloads. As they move to scale the workloads, they will encounter migration issues, cost over-runs and performance limitations.

Security: Security management will continue to be a major concern in terms of who has access to their environment. This will delay the movement of some workloads to the cloud. The next generation data architecture will be multi-cloud, hybrid with on-prem, multi-vendor ecosystem which enables internal enterprise data marketplaces.

ARPU erosion: In the US, mobile data, and voice ARPU will decrease as operators compete to win subscribers in an oversubscribed market. Customers are more cost conscious because of inflationary pressures and will be more likely to switch providers based on free device offers and lower service charges. This will drive operators to lower the cost of mobile services which will erode ARPU.

C-band deployments: Verizon and AT&T will continue to expand C-band deployments to cover a larger segment of the US population and to gain ground on T-Mobile who has the best spectrum assets in the low and mid bands. They will also need C-band to expand Fixed

Wireless Access services with higher data rates than lower band spectrum.

Consumers win: Consumers will benefit with lower prices and better service. Those who are in remote areas with limited access to broadband will have more options with FWA and satellite to cellular partnerships such as the announced partnership with T-Mobile and SpaceX Starlink satellites. As more devices with both satellite and cellular capabilities proliferate, users can access service from anywhere on earth or even at sea. In addition, businesses will be able to track shipments across the entire route without coverage gaps. Initial coverage with start with test and multi-media but will later expand to voice and data coverage.

Healthcare

John Matthews, Managing Director Healthcare & Life Sciences

Shifts to digital: We will continue to see more shifts to digital settings across industries, but in particular for healthcare as virtual visits and digital consults have made a huge difference in a supply constrained regulated environment. Who wants to actually drive to the doctor when one can video chat just as effectively for many needs?

The politics of healthcare: The politics of healthcare remains so we’ll continue to see big fights over government spending in Medicare and Medicaid, as well as increasing debate over drug pricing. This fight, the lobbying dollars, the election season megaphones will simply not go away as entrenched interests, change agents, and economic realities contend in the public square.

FinTech

Simon Axon, Industry Consulting Director, EMEA

ESG will continue to define banking in 2023: Governments and world leaders are under increasing pressure to implement stronger regulation and legislation that will demonstrate real change and commitment. Ultimately, governments see financial services as a vehicle to implement net zero policies, as well as to accelerate the path to net zero. We will see the cost of money becoming much higher for carbon damaging activity in the coming year, with more favourable rates provided to those implementing sustainable activities. To do so, banks will need granular information on a host of factors that determine the level of environmental impacts over time and risk across all sectors and all kinds of assets and investments.

Disruption as the “New Normal”: The repeated disruptions felt as a result of COVID-19, Brexit, war and political turmoil have, unsurprisingly, had a detrimental impact on the financial industry – as we’re seeing now with the ongoing rise of inflation and the increased cost of living. While ad-hoc crises are nothing new, these back-to-back and sometimes simultaneous crises is not something the industry has ever had to contend with. In 2023, the banking industry will need to further adapt as the definition of who is categorised as a ‘vulnerable’ customer changes. Banks will need smarter analytics in order to identify these vulnerable customers, with new factors calculating these scores, centred around reliability of income, as opposed to income vs. expenditure. The data needed to understand your customer base, therefore, will need to be more nuanced than it previously was.

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Business

What can the West learn from the Arabian Gulf’s payments revolution?

Hassan Zebdeh, Financial Crime Advisor at Eastnets

A decade ago, paying for coffee at a small café in Riyadh meant fumbling with cash – or, at best, handing over a plastic card. Today, locals casually wave smartphones over terminals, instantly settling the bill, splitting it among friends, and even transferring money abroad before their drink cools.

This seemingly trivial scene illustrates a profound truth: while the West debates incremental upgrades to ageing payment systems, the Arabian Gulf has leapfrogged straight into the future. As of late 2024, Saudi Arabia achieved a remarkable 98% adoption rate for contactless payments in face-to-face transactions, a significant leap from just 4% in 2017.

Align financial transformation with a bold national vision

One milestone that exemplifies the Gulf’s approach is Saudi Arabia’s launch of its first Swift Service Bureau. While not the first SSB worldwide, its presence in the Kingdom underscores a broader theme: rather than rely on piecemeal upgrades to older infrastructure, Saudi Arabia chose a proven yet modern route, aligned to Vision 2030, to unify international payment standards, enhance security, and reduce operational overhead.

And it matters, because in a region heavily reliant on expatriate workers whose steady stream of remittances powers whole economies. The stakes for frictionless cross-border transactions are unusually high. Rather than tinkering around the edges of an ageing system, Saudi Arabia opted for a bold and coherent solution, deliberately aligning national pride and purpose with practical financial innovation. It’s a reminder that infrastructure, at its best, doesn’t merely enable transactions; it reshapes how people imagine the future.

Make regulation a launchpad, not a bottleneck

Regulation often carries the reputation of an overprotective parent – necessary, perhaps, but tiresome, cautious to a fault, and prone to slowing progress rather than enabling it. It’s the bureaucratic equivalent of wrapping every new idea in bubble wrap and paperwork. Yet Bahrain has managed something rare: flipping the narrative entirely. Instead of acting solely as gatekeepers, Bahraini regulators decided to become collaborators. Their fintech sandbox isn’t merely a regulatory innovation; it’s psychological brilliance, transforming a potentially adversarial relationship into a partnership

Within this curated environment, fintech firms have launched practical experiments with striking results. Take Tarabut Gateway, which pioneered open banking APIs, reshaping how banks and customers interact. Rain, a cryptocurrency exchange, tested compliance frameworks safely, quickly becoming one of the Gulf’s trusted crypto players. Elsewhere, startups trialled AI-driven identity verification and seamless cross-border payments, all under the watchful yet adaptive guidance of Bahraini regulators. Successes were rapidly scaled; failures offered immediate lessons, free from damaging legal fallout. Bahrain proves regulation, thoughtfully applied, can genuinely empower innovation rather than restrict it.

Prioritise cross-border interoperability and unified standards

Cross-border payments have long been a maddening puzzle – expensive, sluggish, and unpredictably complicated. Most Western banks seem resigned to this reality, treating the spaghetti-like mess of correspondent banking relationships as a necessary evil. Yet Gulf states looked at this same complexity and saw not just inconvenience, but opportunity. Instead of battling against the tide, they cleverly redirected it, embracing standards like ISO 20022, which neatly streamline data exchange and slash friction from global transactions.

Examples abound: Saudi Arabia’s adoption of ISO 20022 through its Swift Service Bureau will notably accelerated cross-border transactions and improve transparency. The UAE and Saudi Arabia also jointly piloted Project Aber, a digital currency initiative that significantly reduced settlement times for interbank payments. Similarly, Bahrain’s collaboration with fintechs has simplified previously burdensome remittance processes, reducing both cost and complexity.

Target digital ecosystems for financial inclusion

One of the most intriguing elements of the Gulf’s payments transformation is the speed and enthusiasm with which consumers embraced new technologies. In Bahrain, mobile wallet payments surged by 196% in 2021, contributing to a nearly 50% year-over-year increase in digital payment volumes. Similarly, Saudi Arabia experienced a near tripling of mobile payment volumes in the same year, with mobile transactions accounting for 35% of all payments. 

The West, by contrast, still struggles with financial inclusion. In the U.S., millions remain unbanked or underbanked, held back by distrust, geographic isolation, and high fees. Digital solutions exist, but widespread adoption has lagged, partly because major institutions view inclusion as a long-term aspiration rather than an immediate priority. The Gulf shows that when digital tools are made integral to daily life, rather than optional extras, the barriers to financial inclusion quickly dissolve.

The road ahead

As the Gulf region continues to refine its payment systems experimenting with digital currencies, advanced data protection laws, and AI-driven compliance the ripple effects will be felt far beyond the GCC. Western players can treat these developments as an external threat or as a chance to rejuvenate their own approaches.

Ultimately, if you want a glimpse of where financial services may be headed towards integrated platforms, real-time international transactions, and widespread digital inclusion – the Gulf experience is a prime example of what’s possible. The question is whether other markets will step up, follow suit, and even surpass these achievements. With global financial landscapes evolving at record speed, hesitation carries its own risks. The Arabian Gulf has shown that bold bets can pay off; perhaps that’s the most enduring lesson for the West.

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Business

Unlocking business growth with efficient finance operations

Rob Israch, President at Tipalti

The UK economy has faced a turbulent couple of years, meaning now more than ever, businesses need to stay agile. With Reeves’s national insurance hikes now fully in play and global trade tensions casting a shadow over the landscape, the coming months will present a crucial opportunity for businesses to decide how to best move forward. 

That said, it’s not all doom and gloom. The latest official figures show that the UK’s economy unexpectedly grew at a rate of 0.5% in February – a welcome sign of resilience. But turning this momentum into sustainable growth will hinge on effective financial management – essential for long term success.

Although many are currently prioritising stability, sustainable growth is still within reach with the right approach. By making use of data and insights from the finance team, companies can pinpoint efficient paths to expansion. However, this relies on having real-time information at their fingertips to support agile, well-timed decisions.

While achieving growth may be tough to come by this year, businesses can stay on track by adopting a few essential strategies. 

Improving efficiency by eliminating finance bottlenecks

Growth is the ultimate goal for any business, but it must be managed carefully to ensure long-term sustainability. Uncertain times present an opportunity to eliminate inefficiencies and build a strong foundation for future success.

A significant bottleneck for many businesses is the finance function’s reliance on manual processes for invoice processing, reporting and reconciliation. These tasks are not only time-consuming but also introduce errors, delays and inefficiencies. As a result, finance teams become stretched thin. Our recent survey found that, on average, over half (51%) of accounts payable time is spent on manual tasks – severely limiting finance leaders’ ability to drive strategic growth.

Repetitive tasks such as data entry, reconciliation, and approvals require considerable time and effort, slowing down decision-making and increasing the risk of inaccuracies. Given the critical role that finance plays in guiding business strategy, these inefficiencies and errors create significant roadblocks to growth.  

The pressure on finance leaders is therefore immense and while 71% of UK business leaders believe CFOs should take a central role in corporate growth initiatives, they are simply lost in a sea of manual processes and number crunching. In fact, 82% of finance leaders admit that excessive manual finance processes are hindering their organisation’s growth plans for the year ahead. To remedy this, businesses must embrace automation.

Achieving sustainable growth with automation

By replacing manual spreadsheets with automated solutions, finance teams can eliminate administrative burdens and focus on strategic initiatives. Automation simplifies critical finance tasks like bank feeds, coding bookkeeping transactions and invoice matching. Beyond this, it can also help alleviate the strain of more complex and time-intensive responsibilities, including tax filings, invoices and payroll.

The benefits of automation extend far beyond time saving, to accuracy, improving business visibility and enabling real-time financial insights. With fewer errors and faster-data processing, finance leaders can shift their focus to high-value tasks like driving strategy, identifying risks and opportunities and determining the optimal timing for growth investments.

Attracting investors with operational efficiency 

Once businesses have minimised time spent on administrative tasks, they can focus on the bigger picture: growth and securing investment. With access to cheap capital becoming increasingly difficult, businesses must position themselves wisely to attract funding.  

Investors favour lean, efficient companies, so demonstrating that a business can achieve more with fewer resources signals a commitment to financial prudence and sustainability. By embracing automation, companies can showcase their ability to manage operations efficiently, instilling confidence that any new investment will be spent and used wisely.

Economic uncertainty provides an opportunity to reassess business foundations and create more agile operations. Refining workflows and eliminating bottlenecks not only improves performance but also strengthens investor confidence by demonstrating a long-term commitment to financial health.

Additionally, strong financial reporting and effective cash flow management are crucial to standing out to investors. Clear, real-time insights into financial health demonstrate resilience and highlight a business’ resilience and readiness for growth.

The growth journey ahead

Though the landscape remains tough for UK businesses, sustainable growth is still achievable with a clear and focused strategy. By empowering finance leaders to step into more strategic and high-level decision making roles, organisations can stay resilient and agile amid ongoing economic headwinds.

UK businesses have fought to stay afloat, so now is the time to rebuild strength. By embracing more strategic financial management to build resilience, they can set the stage for long-term, sustainable growth, whatever the economic climate brings.

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Business

The Consortium Conundrum: Debunking Modern Fraud Prevention Myths

By Husnain Bajwa, SVP of Product, Risk Solutions, SEON


As digital threats escalate, businesses are desperately seeking comprehensive solutions to counteract the growing complexity and sophistication of evolving fraud vectors. The latest industry trend – consortium data sharing – promises a revolutionary approach to fraud prevention, where organisations combine their data to strengthen fraud defences.

It’s understandable how the consortium data model presents an appealing narrative of collective intelligence: by pooling fraud insights across multiple organisations, businesses hope to create an omniscient network capable of instantaneously detecting and preventing fraudulent activities.

And this approach seems intuitive – more data should translate to better protection. However, the reality of data sharing is far more complex and fundamentally flawed. Overlooked hurdles reveal significant structural limitations that undermine the effectiveness of consortium strategies, preventing this approach from fulfilling its potential to safeguard against fraud. Here are several key misconceptions about how consortium approaches fail to deliver promised benefits.


Fallacy of Scale Without Quality


One of the most persistent myths in fraud prevention mirrors the trope of enhancing a low-resolution image to reveal more explicit details. There’s a pervasive belief that massive volumes of consortium data can reveal insights not present in any of the original signals. However, this represents a fundamental misunderstanding of information theory and data analysis.

To protect participant privacy, consortium approaches strip away critical information elements relevant to fraud detection. This includes precise identifiers, nuanced temporal sequences and essential contextual metadata. Through the loss of granular signal fidelity required to anonymise information to make data sharing viable, said processes skew data while eroding its quality and reliability. The result is a sanitised dataset that bears little resemblance to the rich, complex information needed for effective fraud prevention. Further, embedded reporting biases from different entities can likewise exacerbate quality issues. Knowing where data comes from is imperative, and consortium data frequently lacks freshness and provenance.

Competitive Distortion is a Problem


Competitive dynamics can impact the efficacy of shared data strategies. Businesses today operate in competitive environments marked by inherent conflicts, where companies have strategic reasons to restrict their information sharing. The selective reporting of fraud cases, intentional delays in sharing emerging fraud patterns and strategic obfuscation of crucial insights can lead to a “tragedy of the commons” situation, where individual organisational interests systematically degrade the potential of consortium information sharing for the collective benefit.

Moreover, when direct competitors share data, organisations often limit their contributions to non-sensitive fraud cases or withhold high-value signals that reduce the effectiveness of the consortium dynamics.

Anonymisation’s Hidden Costs


Consortiums are compelled to aggressively anonymise data to sidestep the legal and ethical concerns of operating akin to de facto credit reporting agencies. This anonymisation process encompasses removing precise identifiers, truncating temporal sequences, coarsening behavioural patterns, eliminating cross-entity relationships and reducing contextual signals. Such extensive modifications limit the data’s utility for fraud detection by obscuring the details necessary for identifying and analysing nuanced fraudulent activities.

These anonymisation efforts, needed to preserve privacy, also mean that vital contextual information is lost, significantly hampering the ability to detect fraud trends over time and diluting the effectiveness of such data. This overall reduction in data utility illustrates the profound trade-offs required to balance privacy concerns with effective fraud detection.

The Problem of Lost Provenance


In the critical frameworks of DIKA (Data, Information, Knowledge, Action) and OODA (Observe, Orient, Decide, Act), data provenance is essential for validating information quality, understanding contextual relevance, assessing temporal applicability, determining confidence levels and guiding action selection. However, once data provenance is lost through consortium sharing, it is irrecoverable, leading to a permanent degradation in decision quality.

This loss of provenance becomes even more critical at the moment of decision-making. Without the ability to verify the freshness of data, assess the reliability of its sources or understand the context in which it was collected, decision-makers are left with limited visibility into preprocessing steps and a reduced confidence in their signal interpretation. These constraints hinder the effectiveness of fraud detection efforts, as the underlying data lacks the necessary clarity for precise and timely decision-making.

The Realities of Fraud Detection Techniques


Modern fraud prevention hinges on well-established analytical techniques such as rule-based pattern matching, supervised classification, anomaly detection, network analysis and temporal sequence modelling. These methods underscore a critical principle in fraud detection: the signal quality far outweighs the data volume. High-quality, context-rich data enhances the effectiveness of these techniques, enabling more accurate and dynamic responses to potential fraud.

Despite the rapid advancements in machine learning (ML) and data science, the fundamental constraints of fraud detection remain unchanged. The effectiveness of advanced ML models is still heavily dependent on the quality of data, the intricacy of feature engineering, the interpretability of models and adherence to regulatory compliance and operational constraints. No degree of algorithmic sophistication can compensate for fundamental data limitations.

As a result, the core of effective fraud detection continues to rely more on the precision and context of data rather than sheer quantity. This reality shapes the strategic focus of fraud prevention efforts, prioritising data integrity and actionable insights over expansive but less actionable data sets.

Evolving Into Trust & Safety: The Imperative for High-Quality Data


As the scope of fraud prevention broadens into the more encompassing field of trust and safety, the requirements for effective management become more complex. New demands, such as end-to-end activity tracking, cross-domain risk assessment, behavioural pattern analysis, intent determination and impact evaluation, all rely heavily on the quality and provenance of data.

In trust and safety operations, maintaining clear audit trails, ensuring source verification, preserving data context, assessing actions’ impact, and justifying decisions become paramount.

However, the nature of consortium data, which is anonymised and decontextualised to protect privacy and meet regulatory standards, cannot fundamentally support clear audit trails, ensure source verification, preserve data context, and readily assess the impact of actions to justify decisions. These limitations showcase the critical need for organisations to develop their own rich, contextually detailed datasets that retain provenance and can be directly applied to operational needs to ensure that trust and safety measures are comprehensive, effectively targeted, and relevant.

Rethinking Data Strategies


While consortium data sharing offers a compelling vision, its execution is fraught with challenges that diminish its practical utility. Fundamental limitations such as data quality concerns, competitive dynamics, privacy requirements and the critical need for provenance preservation undermine the effectiveness of such collaborative efforts. Instead of relying on massive, shared datasets of uncertain quality, organisations should pivot toward cultivating their own high-quality internal datasets.

The future of effective fraud prevention lies not in the quantity of shared data but in the quality of proprietary, context-rich data with clear provenance and direct operational relevance. By building and maintaining high-quality datasets, organisations can create a more resilient and effective fraud prevention framework tailored to their specific operational needs and challenges.

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