Category Big Data May 8, 2018


The word revolution runs from mouth to mouth among academics and business managers in contact with the flourishing business of algorithms and the so-called big data. "The first revolution came a few years ago with the storage of huge amounts of data from the electronic footprints we all leave behind, the second, in which we are immersed, comes from the ability that both businessmen and users or researchers have to analyze this data. This second revolution comes from the supercapacious algorithms and from what some call artificial intelligence, but I prefer to call it superexperts, "explains Estaban Moro, a professor at the Carlos III University of Madrid and the MediaLab at MIT in Boston.

In the heat of giants like Facebook and Google, who base their enormous power on the combination of data and algorithms, more and more companies are investing increasing amounts of money in everything related to big data. Such is the case of BBVA, whose commitment is aimed at both invisible projects for customers, as engines that allow processing more information to analyze the needs of its users, as well as other easily identifiable initiatives, such as allowing customers of the bank to forecast the situation of their finances at the end of the month.

The very wide possibilities offered by the algorithms are not free of risks. The dangers are many: ranging from cybersecurity, to deal with hacking or theft of formulas, to the privacy of users, through the possible biases of machines.