The Federal Trade Commission has received a $14.6 million Technology Modernization Fund (TMF) grant that will enable the agency to enhance its in-house data processing capabilities and improve the way it analyzes data used in its investigations, saving both time and money.
The grant will help the FTC meet President Trump’s goal to make government more efficient and cost effective by improving the agency’s ability to monitor and identify fraud and anti-competitive conduct.
The FTC will use the grant to develop a comprehensive cloud-based analytics platform that leverages AI tools and train staff to handle complex data analysis in-house. These new tools will enable the agency to reduce the amount of time it takes to sift through data from weeks to hours. And doing this work in-house will save millions of dollars by reducing the agency’s reliance on more costly outside contractors.
The TMF provides grants to federal agencies to modernize IT projects that have a high likelihood of success and generate savings and other benefits for taxpayers.