Equifax is anticipating cost savings and innovation by transitioning to cloud and artificial intelligence technology in the coming years. The company revealed that 89% of its new models and scores are now being built using AI and machine learning. CEO Mark Begor expressed optimism during the earnings call, highlighting the potential for driving revenue growth with the new technology. Equifax reported a 9% revenue increase in the second quarter, with its Workforce Solutions business unit leading the way, followed by the USIS and International divisions. The company’s investments in new products, data, analytics, and AI capabilities are expected to fuel future growth. Equifax remains confident in its long-term revenue growth projections of 8% to 12%. Begor emphasized the importance of the company’s differentiated solutions in supporting its customers’ businesses. With a focus on leveraging the EFX Cloud to streamline access to proprietary data, accelerate product development, and enhance model development, Equifax is poised for continued success in the evolving digital landscape.
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Implementation of Cloud Computing and Artificial Intelligence Propel Company into its Next Era
