Anuja Ranjan currently leads the India consulting team for Financial Services clients at Fractal. Anuja began her AI journey as an economics postgraduate of Delhi School of Economics, where she was introduced to the marvellous world of statistical modelling and predictive analytics. Today, at Fractal, with over a decade of industry experience at hand, Anuja helps to transform business in the financial service space with AI.

Anuja, can you tell us about your AI journey?

As a postgraduate in Economics from Delhi School of Economics, my introduction to statistical modelling and predictive analytics started right from college and I got into the analytics industry with my first job in 2006. My initial career was in risk analytics for the retail consumer finance business at GE and Citi. Since joining Fractal 10 years ago, I have primarily been in customer marketing analytics in payments and banking. 

The analytics and AI industry has developed a lot during this time, and my engagements also gradually evolved from using only traditional analytics to use pf more advanced AI models combined with Data Engineering and Design capabilities for driving complex, large-scale transformational programs for our clients.

I am currently leading the India consulting team for Financial Services clients at Fractal. Financial Services is becoming more on-demand, personalized, automated and ubiquitous. Solutions using AI/ML techniques have a big role to play in making all of these possible. 

What are the major challenges you faced as a woman in reaching where you are right now?

I think like most women, the biggest challenge was to continue working and growing after my first maternity break. At the outset, I want to clarify that I completely respect the choice of some women taking a career break at this point in their personal life. However, I feel many women want to be able to continue working. They drop out only because they don’t have the right support system that is required during those times. What has worked for me is a supportive partner, a strong domestic/child care support system and very importantly - a supportive employer. 

Fractal has been an incredibly encouraging organization in this regard. Alongside its “client first” approach, it promotes an employee-centric work culture. While it focuses on promoting trust, providing flexible work arrangements, it is also outcome-oriented and performance-driven – which makes Fractal a great place to work. 

What made you interested in AI?

It started as a natural progression into this field with my educational background. Back in 2006, it was largely analytics. My first project was for a transportation logistics provider-client where I built a Monte-Carlo simulation-based forecasting tool. It was used by the top management for better planning around expense management. At that time the techniques were more rudimentary. Nevertheless, it was exciting to see how the work was making a difference in business decisions.

Over time, the development of sophisticated AI techniques, exponential growth in data, and technological advancements has made this area, a super cool field! 

I think AI when implemented well is like magic - faster growth, reduced costs, and better experiences.

What is your area of expertise in AI and why chose that one?

Over the years I have developed multiple scaled AI solutions (involving supervised and unsupervised learning techniques) for banking and payment clients, specializing in the area of customer value management and data monetization programs. In my current role, I have now diversified my expertise across multiple areas of AI. 

One niche specialization that we’re bringing in our customer value management offering is – complimenting behavioural sciences with AI to drive better decisions and solution adoption – the ability to build a customer’s emotional persona through behavioural science principles and integrate this intelligence in the AI algorithms, thereby making it more effective. This is a new focus area for me.

What is the one thing that you see AI transforming completely?

AI is omnipresent today, embedded in all business and our lives. The pattern recognition ability of AI, especially when there is massive data availability, has the power to drive transformations across all industries. One area where it can be exceptionally powerful and transformational for humankind is healthcare and medical science by utilizing the vast biological data towards better medical diagnosis, prediction of future health risks and improve medical treatment.

What is your biggest AI nightmare?

An AI algorithm that can replicate your brain and someone is able to predict all your thoughts!

What is your advice for other women who want to pursue a similar journey?

If you have an analytical bent of mind, enjoy math and numbers then AI/ML is an attractive career opportunity. It is a fast-growing industry with an opportunity to learn continuously and work at the cutting edge of industry evolution. 

Also, being disciplined, organized and investing in adequate support systems at home is critical for managing work-pressures in a fast-growing industry.