In the business world, change is constant
In 2018, the Norwegian Ministry of Finance published a tender asking for ideas on how to estimate the market value of holiday homes for tax purposes. Responders were encouraged to consider “advanced solution algorithms”, such as ML techniques. BearingPoint delivered a concept description, proposing an approach utilizing ML-models to inspire simpler and more transparent statistical models, and was elected the winner.
With significant advancements in machine learning and increased availability of open data of high quality, the use of data is steadily increasing amongst public sector organizations in their aim to tackle risk management in public domains.
The Financial Department is at the heart of a massive digital revolution that is already transforming life and business. BearingPoint, CDO Alliance and FI+ teamed up and interviewed leaders in the world of finance who were involved in this type of issue to take stock of the current situation, identify real use cases, trends, the best start-ups, and the key factors of successful digital transformation programs.