SAS commits $1B to AI-powered industry solutions

SAS, the leader in analytics, will invest $1 billion over the next three years to further develop advanced analytics solutions targeted at the unique needs of specific industries. In banking, government, insurance, health care, retail, manufacturing, energy and more, SAS will build upon its decadeslong focus on providing tailored solutions to industry challenges. This industry commitment and the rapid time-to-value these solutions deliver are key SAS differentiators.

All industry solutions will run on SAS Viya, SAS’ cloud-native, massively parallel AI and analytics platform.

The billion-dollar investment includes direct research and development, industry-focused line-of-business teams, and industry marketing efforts. It will fund the innovative work of SAS data scientists, statisticians and software developers working with consultants, systems engineers and marketers with specific industry experience.

The investment is in line with the trend toward democratizing data analytics. By putting the power of advanced analytics in the hands of more people with varied experience and job roles, organizations and society will benefit. It’s what SAS calls analytics for everyone, everywhere.

As organizations continue to embrace AI, machine learning, computer vision and Internet of Things (IoT) analytics to gain valuable insights, people of all skill levels can participate in the analytics process through low- or no-code options like those delivered by solutions running on SAS Viya.

Last year’s economic headwinds roiled global markets, reversing post-pandemic rebounds and forging an increasingly precarious risk landscape. To help banking and insurance customers meet the challenges ahead, SAS acquired Kamakura Corp., a financial risk firm revered for its rigor, particularly in integrated balance sheet management.

The acquisition, the largest in SAS history, added some of the most renowned names in quantitative risk management to SAS’ roster. It’s also accelerating advances in SAS’ suite of integrated risk solutions.