The new facility will be dedicated to advancing Equifax’s global AI research and development.
Global data, analytics and technology company Equifax has officially opened a new “state-of-the-art” AI innovation lab in Wexford, Ireland. The initial focus of the new lab will be to further Equifax’s research and development into AI-driven solutions for credit risk assessment to support decision-making for fintechs and financial institutions.
The multinational specialises in credit and demographic data and services for business, and also sells credit monitoring and fraud prevention services direct to customers.
Supported by IDA Ireland, the lab will bring together highly skilled data and technology specialists to collaborate on the next-generation of AI solutions to improve decision-making, the consumer experience and to aid global organisations in risk reduction.
Equifax has stated this will be achieved by developing advanced AI models, machine learning algorithms and data analytics tools to address the complex challenges faced by businesses and consumers.
Headquartered in Atlanta, Georgia, with 15,000 employees worldwide, Equifax has a presence in North America, Central and South America, Europe and the Asia Pacific region.
It is reported that the lab will bring new jobs for people in the area, with the figure currently unknown, however, it will rise to at least 100 professionals.
Deirdre O’Connor, the head of regional development at IDA Ireland, said: “I wish to congratulate Equifax on the opening of this AI Innovation lab. Artificial intelligence is a key growth driver in IDA Ireland’s new strategy Adapt Intelligently.
“The Equifax decision to expand its presence in Wexford is a testament to Ireland’s position as a hub for global innovation and AI. I am delighted that this will bring Equifax employment in Wexford to 100 employees and would like to wish them every success with this AI Innovation Lab.”
Paul Heywood, the chief data and analytics officer for Equifax Europe, added: “We are incredibly excited to expand our Wexford team through this investment and have immense confidence in the calibre and expertise of the marketplace in Ireland and specifically in the south east, as evidenced by our 30-year presence in Wexford town.”
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