3 steps to gain business value from AI

VAL FONTAMA | June 14, 2019 | 140 views

Many customers have asked us this profound question: How do we realize business value from artificial intelligence initiatives after a proof of concept?  Enterprises are excited at the potential of AI, and some even create a POC as a first step. However, some are stymied by lack of clarity on the business value or return on investment. As a result we have heard the same question from data science teams that have created machine learning models that are under-utilized by their organizations.

Spotlight

MongoDB

MongoDB is the next-generation database that helps businesses transform their industries by harnessing the power of data. The world’s most sophisticated organizations, from cutting-edge startups to the largest companies, use MongoDB to create applications never before possible at a fraction of the cost of legacy databases. MongoDB is the fastest-growing database ecosystem, with over 40 million downloads, 6,600+ customers, and over 1,000 technology and service partners.

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SOFTWARE

Natural Language Processing: An Advanced Implementation of AI

Article | May 4, 2022

Natural Language Processing, also known as computational linguistics or NLP, is a branch of Artificial Intelligence (AI), Machine Learning (ML), and linguistics. It is a subfield of AI that enables computers or machines to understand, manipulate, and interpret human language. Simply put, natural language is the natural method by which humans communicate with one another. We have now trained computers to interpret natural language. Communicating with computers has become simpler with voice queries such as "Alexa, what's the news today?" or "Ok Google, play my favorite songs." Similarly, when you ask Siri, Apple's voice assistant, "What is the cheapest flight to New York later today?" It instantly searches airline and travel websites for flights from the user's location to New York. It also compares the prices and lists the one with the lowest fare first. So, even without specifying a date or the "lowest fare", Siri understands the inquiry and returns accurate results. This is the result of NLP in action. Natural Language Processing: Business Applications Natural language processing has a variety of applications, some of them are listed below. Summarize text blocks to extract the most relevant and core concepts while excluding unnecessary information. Develop a chatbot that makes use of Point-of-Speech tagging to enhance customer support. Chatbots are AI systems that use NLP to engage with people through text or voice. Determine the type of extracted entity, such as a person, location, or organization. Sentiment Analysis can be used to recognize the sentiment or emotions of a text string, ranging from highly negative to neutral to very positive. HR teams can utilize NLP-based solutions to scan resumes based on keyword synonyms and swiftly shortlist candidates from a pile of resumes. Extracting Text data from the data storage allows in extracting specific information from text. Text can be broken down into tokens, or words can be reduced to their root or stem. Topic categorization helps users organize unstructured text. It's a great way for businesses to obtain insights from customer feedback. How Can Businesses Prepare for the NLP-Powered Future? NLP has evolved tremendously, and has benefited both companies and consumers. NLP technologies are assisting businesses to better understand how consumers perceive them through channels such as emails, product reviews, social media postings, surveys, and more. AI technologies can be used not just to analyze online interactions and how people speak about companies but also to automate tedious and time-consuming operations, enhance productivity, and free up staff to concentrate on more meaningful duties. When it comes to NLP the sky is the limit. As NLP technology is becoming more prevalent and greater advancements in ability are explored, the future will witness enormous shifts. Here are some of the ways in which businesses can prepare for the future of NLP. Analyze your company's text data assets and evaluate how the most recent techniques can be used to add value. Understand how you can use AI-powered language technology to make wiser decisions or rearrange your skilled labor. Start implementing new language-based AI tools for a range of jobs in order to better understand their potential. Prepare now to capitalize on transformative AI and to make sure that advanced AI contributes to society fairly. Closing Note Thanks to natural language processing technology, conversational commands and everything related to conversational AI in businesses have become faster and better. Natural language processing helps large businesses make flexible choices by revealing consumer moods and market movements. Smart companies now make decisions based not only on data but also on the intelligence derived from NLP-powered system data.

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SOFTWARE

Augmented Reality: A Dynamic Change to Enhance Your Business

Article | April 21, 2022

Meta Description: Evaluating the impact of augmented reality in business ROI, while also understanding how CMOs leverage AR effectively in their marketing mix. While several technological advancements have been aiding in improving lifestyle, they have also been making drastic impacts on the business front. Over several years now, the world has seen various exposure to augmented reality. The usage of Augmented Reality for business has effectively transformed the technology from an entertainment concept to a crucial enterprise tool. According to Statista, 23 million jobs across the globe could be directly affected by AR and VR by 2030, and over 824,000 of those jobs are currently using these technologies in their workplace. Impact of Augmented Reality on Business In simple terms, Augmented Reality (AR) is a computer-generated enhancement that is placed over the existing reality we see with our human eyes. It offers the option to add dimension, sound and other experiences to any two-dimensional picture or video. Even when this might seem like something complex to be implemented in business, it isn't as challenging as it looks. With each passing year, AR has effectively been penetrating deeper into businesses, making a drastic impact on various functioning. Marketers have effectively been integrating the use of AR into their marketing strategies, and it has grown overall in the mainstream business functioning by being readily available for users to leverage. Industries That Should Leverage Augmented Reality Technology Uses of Augmented Reality is a prospect that business owners across multiple industries leverage to their advantage. While the core idea is to use the technology to aid and improve human performance, the industries that effectively utilize this resource are: Healthcare Education Travel and Tourism Manufacturing Defense Automotive Industry Retail How Seamless Integration of AR Can Impact Your ROI? Facebook said in March 2021 that it had allocated a complete 20% of its personnel to AR and VR development. That is a really massive investment by a corporation that has built a reputation for wisely investing in monetization and focused on creating bottom-line results. Augmented reality is on the path to becoming the next most significant development in an array of industries, ranging from medical to consumer retail. With the nature of augmented reality technology being highly dynamic, it is essential to have a successful strategy that ensures the integration of AR solutions that provide accurate and tangible results that align with the audience. Additionally, uses of augmented reality in business have also been capable of creating more meaningful engagement with customers. For the first time, new forms have made interaction real and measurable. As a result, brands may see precisely how many people engage with their collateral, how many times and where, for how long, and which direct actions they took: purchase, discount coupon, or social shares, for example, by leveraging IR/AR to turbo-charge paid media. "I do think that a significant portion of the population of developed countries, and eventually all countries, will have AR experiences every day, almost like eating three meals a day, it will become that much a part of you." Tim Cook, Chief Executive Officer of Apple Future of Your Business with AR Integration While augmented reality in business is becoming a crucial component for businesses these days and will revolutionize the future of business. According to Global Market Insights, the global market for AR goods will rise by 80% to £165 billion by 2024. The rise of the AR industry is closely tied to increased attention and investments from leading technology firms such as Facebook. Overall, the augmented reality technology market will develop at the fastest rate by 2023, primarily to the growing usage of smartphones, tablets, and other devices in consumer, commercial, and business settings to adopt AR technology. Furthermore, with the rising need for augmented reality in healthcare and retail, there are a plethora of new prospects and rising demand for augmented reality in architecture and the corporate sector. How Are CMOs Leveraging AR for Their Marketing Mix? Several top executives and leading CMOs are leveraging the benefits of augmented reality to expand the engagement, awareness and value around their services and products. In addition, numerous organizations from different industries and of various sizes in the B2C and B2B space are now using augmented reality technology to differentiate their product and services by effectively implementing AR strategies in their marketing mix. With a game-changing armor in their arsenal in the form of augmented reality, marketing executives trying to promote and sell more successfully can hence perform better, with purchasing experience becoming the new focal point. Conclusion Augmented reality in business is a prospect that offers a massive opportunity to engage with millions of users effectively. AR offers executives to ideally establish an immediate and sensory-driven connection of the brand with consumers by forging an emotional interaction. Repetitive engagement is a successful advertising approach for companies since it only requires AR app development expenditures, and additional benefits may be gained via repeated exposure. In the ever-dynamic state of our current existence, leveraging the benefits of augmented reality can come handy in elevating your business to the next level. FAQs How Can Customers and Businesses Benefit from AR? AR effectively increases engagement and interaction and helps provide a richer user experience. Several research has shown that AR increases the value of products and brands. Implementing AR activities is ideal and conveys innovation and responsiveness from forward-thinking brands. How Does AR Help Organizations Gain a Competitive Advantage? Augmented reality allows the organization to create a unique customer experience while also eliminating cognitive overload. It also ensures that user engagement heightens along with competitive differentiation. AR, after all, is a technology that enables a pure blending of physical and digital reality. How Will the Use of AR Technology Impact the Future of Business Functioning? Augmented reality is constantly evolving to become an emerging marketing and sales strategy trend. AR technologies allow organizations to provide their customers a unique experience with convenience by tapping into their smartphone devices.

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FUTURE TECH

How Does IT Vendor Selection and Management Work?

Article | March 21, 2022

What Is the Importance of IT Vendor Selection and Management? Ideally, the IT vendor management process is an umbrella term for all the processes and systems organizations use to manage their IT suppliers. This is where an organization works with vendors to optimize its supplies and services. There could be several vendors an organization is associated with for unique services and offers. With proper vendor management, an organization can take appropriate measures to control costs, reduce potential risks, and ensure excellent service delivery. But the catch here is that it isn't as easy as it sounds. This includes researching the best available vendor, sourcing and obtaining pricing information, gauging the quality of work, managing relationships, and evaluating performance by setting organizational standards. Most Common Challenges in Vendor Management Even though there are many benefits, organizations face certain challenges during IT vendor selection and their management. Some of these most common challenges are mentioned below: High administrative costs Incomplete documentation Non-compliance Poor vendor relationships Security breaches Supply chain inefficiencies While there were some nuanced changes in the selections between various businesses, both large and small, the results indicate that organizations often face the same challenges no matter where they’re coming from. How Do IT Vendor Selection and Management Help an Organization? In contemporary times, with geographical and economic barriers constantly diminishing, organizations look for different types of vendors worldwide. Even if the organization is working with just one vendor, it is essential to have effective vendor management in place. With proper vendor management, an organization can experience the following benefits: Better Selection With the right vendor, your organization can benefit from a more extensive selection of vendors, resulting in more choices and better costs. Better Contract Management If there is multi-vendor management in place, your organization can benefit from a centralized view of the current status of all contracts and other useful information. This will enable your organization to achieve better decision-making capabilities. Better Performance Management Using a vendor management system, an organization can get an integrated view of the performance of all the vendors. This would give your organization a clear understanding of what is working and what is not. Better Vendor Relationship Managing multiple vendors at the same time can be a difficult task. By accumulating all vendor-related information in a single place, organizations benefit from getting all required information at once, and this can influence your decision-making process. Exploring the Ideal Process of IT Vendor Selection In a world where we are constantly progressing with increasing IT specialization, organizations must be able to rely on their partners. There are some specific steps that an organization can take up to make the whole IT vendor selection process more successful. The six-step process of ideal IT vendor selection: Kick-off and requirement definition Market research and first vendor filtering Request for proposal Evaluating responses Proof of concept Choosing the vendor There are also some common mistakes that organizations make while selecting their vendor. Some of these common errors are listed below: Not evaluating the vendor and only their offerings Communication indiscretion Not comparing vendors or similar stature Today, outsourcing is increasingly used by companies as an enabler for innovation. Technological advancements drive improvements in service delivery, which positively impact cost, enhance functionality, improve service quality, and reduce the importance of location on service delivery. Disruptive technologies like cloud computing enable solutions such as Salesforce.com or ServiceNow to accelerate speed to value and drive business growth. This leads to a change from the traditional IT organization to the next generation IT organization. The operating model needs more agility to respond faster and at different speeds to new service offerings. Outsourcing models have reached their third generation and involve a multi-vendor environment, requiring more transparency and integrated vendor management. Best Techniques to Improve Vendor Management The vendor management process is a crucial component for any organization, as it allows them to build a relationship with their suppliers and service providers that would help strengthen their business. Vendor management is not only about negotiating the price; the most essential aspect is coming to a conclusion that would mutually aid both organizations. Some effective techniques that can be utilized for effective IT vendor management are: Share information and priorities Balance commitment and competition Allow critical vendors to help you strategize Build partnerships that would last long term Try to understand your vendor's business process Negotiate and conclude with a win-win agreement Come together on value Conclusion Ideally speaking, vendor selection and managing that relationship can sometimes be challenging. Once you follow the process mentioned above to select the right vendor for your organization, the steps ahead will get a little easier. However, there is still the process of managing and building that relationship with the vendor. "The objective of vendor management is to fortify company success and overall marketplace performance." - Sean-Michael Callahan, Principal at The NiVACK Group. FAQ What Is Vendor Management in the IT Sector? The process that allows organizations to control costs, strengthen service, and reduce risks throughout the process of outsourcing to vendors while getting the most value from the investment is called vendor management in the IT sector. What Is a Vendor Selection Process? The vendor selection process is a subsidiary stage that allows for the clear stating, defining, and approval of those vendors who are eligible to meet the requirements of the procurement process. What Is the Role of Vendor Management? The vendor management process ideally facilitates and maintains relationships between your organization and vendors, negotiating contracts, creating standards for the vendors, and finding the best available vendors.

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SOFTWARE

How SAAS Is Redefining Software Industry

Article | April 21, 2022

Software-as-a-Service (SAAS) has been a trending topic in the tech field in recent times. The success of the cloud has accelerated the demand for software delivery from on-premises to cloud-based. Start-ups are in a rush for SAAS transformation, delivering the very same solution over the internet. From Google Docs and Sheets to enterprise-level software, SAAS has established a foothold in every sector. With the oncoming of SAAS, the perception of computer software has changed. In this article, we will take a look at how SAAS is redefining and transforming the software industry. Better Accessibility Any software that is preferred to have better and centralized availability is preferred. Better availability is one of the factors that makes SAAS stand out. With centralized availability of both applications and data, users will have a hassle-free experience – with zero installation overheads and no commitments to carry in any device and data. SAAS is accessible from anywhere around the world on any device. There is a big advantage to SAAS over traditional software, which can only be used on a specific device. Ease of Upgrade To ensure continued security and access to new features, software releases are followed by updates and upgrades, which, once issued, become the sole responsibility of the user to install. A hassle-free upgrade makes SAAS the solution to be chosen. All updates and upgrades are performed on the server side, ensuring no downtime and minimal installation troubles. Moreover, most users do not take the updates and upgrades into account due to their delay in installation and trouble setting up. In this aspect, SAAS enables providers to better serve their users by ensuring they are using the latest releases and fixes. Zero Hardware Upgrades As time moves on, software demands higher resources for it to work smoothly. Zero hardware upgrades will bring a new and better user experience. All the hardware configurations will be managed at the cloud level, with no changes required on the client-side. A large increase in resources might have an influence on the subscription cost, but it is a better alternative to requesting end-users larger hardware. This will be a beneficial aspect for resource-heavy applications like graphics and design-related applications. Thus, a major part of configuration at the hardware and software levels (drivers) is abstracted from the users. Better Security and Protection from Piracy Traditional on-premise software is always vulnerable to cracking and piracy. With SAAS tools and software, there will be no piracy, and increasing security can be feasible. SAAS works on a subscription model where the purchase of the software is tied to a user account, and a fee is paid monthly or yearly to use the software. On-premise software is subject to reverse engineering, where the activation system is tampered with, and the software can be used for free. Similarly, data has better security in the cloud with continuous encryption and backup than on an on-premise system, wherein the data security and backup require user effort as well. Zero Compatibility Issues Software programs are subject to compatibility requirements where the OS or certain dependencies might not support a specific piece of software. With SAAS, there are no more compatibility-related conflicts since the OS and other dependencies and resources are managed by the provider itself. End-users need not comply with any compatibility requirements for the software to work. This aspect also provides users an advantage in terms of storage. The application and its dependencies usually take up a large amount of space. SAAS takes care of dependencies on the server end. Better Team Collaboration SAAS is an option that proves better for collaboration-based teams. Software delivery over the network comes with an account linked to it for sign-in and collaboration. Teams that work together can get better benefits when using SAAS tools since they enable sharing and collaboration on work items. Traditional software has limited or no collaboration capabilities, thus limiting productivity. SaaS can also keep data in sync on a number of devices, giving users a real-time experience.

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Spotlight

MongoDB

MongoDB is the next-generation database that helps businesses transform their industries by harnessing the power of data. The world’s most sophisticated organizations, from cutting-edge startups to the largest companies, use MongoDB to create applications never before possible at a fraction of the cost of legacy databases. MongoDB is the fastest-growing database ecosystem, with over 40 million downloads, 6,600+ customers, and over 1,000 technology and service partners.

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AI TECH

CallMiner Named Best Overall AI-based Analytics Company in 2022 AI Breakthrough Awards

CallMiner | June 28, 2022

CallMiner, the leading provider of conversation intelligence to drive business improvement, announced today that it has been named the Best Overall AI-based Analytics Company in the 5th annual AI Breakthrough Awards. CallMiner was recognized for its ability to help organizations analyze customer interactions as scale, such as the voice or text-based conversations that happen in an organization’s customer service center, to uncover insights and take action. These insights help companies improve customer experience, strengthen brand loyalty, increase operational efficiency, influence sales outcomes and more, ultimately driving business transformation and growth. Powered by machine learning algorithms and artificial intelligence (AI), the CallMiner platform can organize and bring value out of structured and unstructured data, including contact center conversations, chats, emails, social media, surveys and other customer interactions. Because understanding emotion within these conversations is increasingly important, CallMiner’s AI technology takes sentiment analysis one step further than the competition, identifying emotions within a conversation, such as surfacing moments when customers are stressed, angry or elated by marrying words and acoustic measures to form a complete picture of customer emotions in an interaction. “Organizations hold a massive amount of untapped data, particularly within their customer service and contact centers, which leaves meaningful insights on the table. “Yet, it’s impossible to uncover these insights with human power alone. Technology, like CallMiner’s AI-powered conversation intelligence platform, can deliver the right insights at the right time to both customers and internal stakeholders, enabling organizations to truly be customer-centric. Being recognized as the Best Overall AI-based Analytics Company by the AI Breakthrough Awards is further proof of CallMiner’s industry-leading AI capabilities and our ability to drive value for our customers.” Rick Britt, VP of AI at CallMiner The AI Breakthrough Awards recognize innovation across a range of AI and machine learning-related categories, including AI platforms, deep learning, business intelligence, natural language processing and industry-specific AI applications. Market intelligence analysts from AI Breakthrough evaluated nearly 3,000 nominations from around the world, reviewing, scoring and analyzing each entry to name the top performers. About CallMiner CallMiner is the global leader in conversation intelligence to drive business performance improvement. Powered by artificial intelligence and machine learning, CallMiner delivers the industry’s most comprehensive platform to analyze omnichannel customer interactions at scale, allowing organizations to interpret sentiment and identify patterns to reveal deep understanding from every conversation. By connecting the dots between insights and action, CallMiner enables companies to identify areas of opportunity to drive business improvement, growth and transformational change more effectively than ever before.

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GENERAL AI

SoftWorks AI Rebrands as TRUE and Answers Need for Lending Intelligence

TRUE | June 23, 2022

SoftWorks AI, the leader in lending intelligence, today launched an extensive rebrand, including changing its name to TRUE. The new name reflects the company’s unique ability to give lenders a true picture of a borrower by using AI to inspect and audit every data point when verifying a loan and its underlying documentation. By providing deeper, more comprehensive, and more accurate insights on borrowers, TRUE allows lenders to gain market share by enabling faster turn times and reducing risk. TRUE’s new name and logo demonstrate how the company harnesses the power of AI to turn lending – especially in the mortgage space – into a near real-time experience. While other vendors need humans in the loop to get data right, TRUE’s platform accurately analyzes every data point in a loan package automatically. TRUE’s technology can reduce manual reviews by up to 85% and has increased underwriter productivity by up to 300%. The lending industry has long been focused on automation, with an end-state goal of touchless automation. This can only be achieved with lending intelligence, which uses AI to ensure all data going into the automation process is 100% correct and verify that every extrapolated insight is accurate and provably true. The TRUE brand is focused on using cutting-edge technology to find what is true, a process the company calls Lending Intelligence. “TRUE uses AI to help lenders address customers’ most important expectations – speed, accuracy and reduced risk. “We are an AI lab focused executively on the lending sector and our AI platform is fully trained to address the challenges and nuances of lending. TRUE optimizes every step of the lending cycle, efficiently delivering critical information so our clients can get a full picture of their risk exposure. By providing a fast, thorough, and explainable analysis of every last data point, we reduce errors and improve decisioning, powering trustworthy lending.” Ari Gross, CEO of TRUE TRUE is transforming both the primary and secondary lending markets with technology that reads documents chronologically and holistically, going far beyond generic data classification that misses important details and nuances – and results in costly bad decisions. By ensuring that loan documents tell a consistent and coherent story and that all documents are cross-validated, TRUE enables lenders to get a holistic view of lending risk while delivering greater certainty to customers. The company currently serves major institutions from across the lending industry including Rocket Mortgage, Carrington, and 50% of the top mortgage insurers. TRUE processes millions of loans and billions of documents through its AI powered lending technology annually. About TRUE TRUE is a software solutions company and AI lab that helps lenders harness the power of artificial intelligence to make accurately informed lending decisions – increasing revenue while reducing operating costs and risk. Since 2017, it has set the industry standard for intelligent lending technology, delivering results that provide a true competitive advantage.

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SOFTWARE

Weights & Biases and Run:Ai Announce Ml Developer Workflow Partnership

Weights & Biases | June 28, 2022

A partnership has been announced between Run:ai, the industry pioneer in computing orchestration for AI workloads, and Weights & Biases (W&B), the premier developer-first MLOps platform. In order to give ML developers and MLOps platform owners a smooth experience for MLOps and GPU orchestration for machine learning and deep learning workloads, the cooperation will concentrate on establishing connectors between the two platforms. "We are excited to partner with Run.ai to provide data scientists and ML practitioners the best tools for their ML development workflow. The combination of the developer tools provided by Weights and Biases, the dynamic allocation and orchestration of compute resources from Run.ai, and the optimized hardware and software provided by NVIDIA gives ML teams everything they need to accelerate the development and deployment of AI in the enterprise," said Seann Gardiner, VP of Business Development of Weights & Biases. The collaboration will simplify AI initiatives for academics in the field as well as the MLOps and IT teams in charge of maintaining the infrastructure. The Weights & Biases MLOps capabilities, including experiment and artifact tracking, hyperparameter optimization, and collaboration reports, will be available to ML practitioners in a single interface, along with access to NVIDIA accelerated computing resources managed by Run:Atlas ai's Platform. The W&B dashboard will allow ML developers to track NVIDIA GPU usage, and they can then increase it by using Run:scheduling ai's and orchestration features. In addition, the MLOps platform owner will be able to provide a single ML system of record to maintain an accurate history of all ML experiments, model history, and dataset versioning. They will also be able to optimize GPU resource scheduling and consumption for ML practitioners. "Run:ai and Weights & Biases together give data scientists, and the IT teams that support them, a complete solution for the full ML lifecycle, from building models, to training and inference in production. Companies building their AI infrastructure and tooling from scratch can use NVIDIA GPUs, Run:ai, and W&B and have everything they need to manage AI initiatives at scale." Omri Geller, CEO and co-founder of Run:ai The collaboration between Weights & Biases and Run:ai will significantly help ML academics and businesses using NVIDIA GPUs. As software partners for NVIDIA DGX-Ready and NVIDIA AI Accelerated, Run:ai and W&B have both received validation. In order to assist businesses to get the most out of their investment in NVIDIA-accelerated systems for ML and AI, the cooperation will build on connections between W&B and Run.ai with NVIDIA AI Enterprise software.

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AI TECH

CallMiner Named Best Overall AI-based Analytics Company in 2022 AI Breakthrough Awards

CallMiner | June 28, 2022

CallMiner, the leading provider of conversation intelligence to drive business improvement, announced today that it has been named the Best Overall AI-based Analytics Company in the 5th annual AI Breakthrough Awards. CallMiner was recognized for its ability to help organizations analyze customer interactions as scale, such as the voice or text-based conversations that happen in an organization’s customer service center, to uncover insights and take action. These insights help companies improve customer experience, strengthen brand loyalty, increase operational efficiency, influence sales outcomes and more, ultimately driving business transformation and growth. Powered by machine learning algorithms and artificial intelligence (AI), the CallMiner platform can organize and bring value out of structured and unstructured data, including contact center conversations, chats, emails, social media, surveys and other customer interactions. Because understanding emotion within these conversations is increasingly important, CallMiner’s AI technology takes sentiment analysis one step further than the competition, identifying emotions within a conversation, such as surfacing moments when customers are stressed, angry or elated by marrying words and acoustic measures to form a complete picture of customer emotions in an interaction. “Organizations hold a massive amount of untapped data, particularly within their customer service and contact centers, which leaves meaningful insights on the table. “Yet, it’s impossible to uncover these insights with human power alone. Technology, like CallMiner’s AI-powered conversation intelligence platform, can deliver the right insights at the right time to both customers and internal stakeholders, enabling organizations to truly be customer-centric. Being recognized as the Best Overall AI-based Analytics Company by the AI Breakthrough Awards is further proof of CallMiner’s industry-leading AI capabilities and our ability to drive value for our customers.” Rick Britt, VP of AI at CallMiner The AI Breakthrough Awards recognize innovation across a range of AI and machine learning-related categories, including AI platforms, deep learning, business intelligence, natural language processing and industry-specific AI applications. Market intelligence analysts from AI Breakthrough evaluated nearly 3,000 nominations from around the world, reviewing, scoring and analyzing each entry to name the top performers. About CallMiner CallMiner is the global leader in conversation intelligence to drive business performance improvement. Powered by artificial intelligence and machine learning, CallMiner delivers the industry’s most comprehensive platform to analyze omnichannel customer interactions at scale, allowing organizations to interpret sentiment and identify patterns to reveal deep understanding from every conversation. By connecting the dots between insights and action, CallMiner enables companies to identify areas of opportunity to drive business improvement, growth and transformational change more effectively than ever before.

Read More

GENERAL AI

SoftWorks AI Rebrands as TRUE and Answers Need for Lending Intelligence

TRUE | June 23, 2022

SoftWorks AI, the leader in lending intelligence, today launched an extensive rebrand, including changing its name to TRUE. The new name reflects the company’s unique ability to give lenders a true picture of a borrower by using AI to inspect and audit every data point when verifying a loan and its underlying documentation. By providing deeper, more comprehensive, and more accurate insights on borrowers, TRUE allows lenders to gain market share by enabling faster turn times and reducing risk. TRUE’s new name and logo demonstrate how the company harnesses the power of AI to turn lending – especially in the mortgage space – into a near real-time experience. While other vendors need humans in the loop to get data right, TRUE’s platform accurately analyzes every data point in a loan package automatically. TRUE’s technology can reduce manual reviews by up to 85% and has increased underwriter productivity by up to 300%. The lending industry has long been focused on automation, with an end-state goal of touchless automation. This can only be achieved with lending intelligence, which uses AI to ensure all data going into the automation process is 100% correct and verify that every extrapolated insight is accurate and provably true. The TRUE brand is focused on using cutting-edge technology to find what is true, a process the company calls Lending Intelligence. “TRUE uses AI to help lenders address customers’ most important expectations – speed, accuracy and reduced risk. “We are an AI lab focused executively on the lending sector and our AI platform is fully trained to address the challenges and nuances of lending. TRUE optimizes every step of the lending cycle, efficiently delivering critical information so our clients can get a full picture of their risk exposure. By providing a fast, thorough, and explainable analysis of every last data point, we reduce errors and improve decisioning, powering trustworthy lending.” Ari Gross, CEO of TRUE TRUE is transforming both the primary and secondary lending markets with technology that reads documents chronologically and holistically, going far beyond generic data classification that misses important details and nuances – and results in costly bad decisions. By ensuring that loan documents tell a consistent and coherent story and that all documents are cross-validated, TRUE enables lenders to get a holistic view of lending risk while delivering greater certainty to customers. The company currently serves major institutions from across the lending industry including Rocket Mortgage, Carrington, and 50% of the top mortgage insurers. TRUE processes millions of loans and billions of documents through its AI powered lending technology annually. About TRUE TRUE is a software solutions company and AI lab that helps lenders harness the power of artificial intelligence to make accurately informed lending decisions – increasing revenue while reducing operating costs and risk. Since 2017, it has set the industry standard for intelligent lending technology, delivering results that provide a true competitive advantage.

Read More

SOFTWARE

Weights & Biases and Run:Ai Announce Ml Developer Workflow Partnership

Weights & Biases | June 28, 2022

A partnership has been announced between Run:ai, the industry pioneer in computing orchestration for AI workloads, and Weights & Biases (W&B), the premier developer-first MLOps platform. In order to give ML developers and MLOps platform owners a smooth experience for MLOps and GPU orchestration for machine learning and deep learning workloads, the cooperation will concentrate on establishing connectors between the two platforms. "We are excited to partner with Run.ai to provide data scientists and ML practitioners the best tools for their ML development workflow. The combination of the developer tools provided by Weights and Biases, the dynamic allocation and orchestration of compute resources from Run.ai, and the optimized hardware and software provided by NVIDIA gives ML teams everything they need to accelerate the development and deployment of AI in the enterprise," said Seann Gardiner, VP of Business Development of Weights & Biases. The collaboration will simplify AI initiatives for academics in the field as well as the MLOps and IT teams in charge of maintaining the infrastructure. The Weights & Biases MLOps capabilities, including experiment and artifact tracking, hyperparameter optimization, and collaboration reports, will be available to ML practitioners in a single interface, along with access to NVIDIA accelerated computing resources managed by Run:Atlas ai's Platform. The W&B dashboard will allow ML developers to track NVIDIA GPU usage, and they can then increase it by using Run:scheduling ai's and orchestration features. In addition, the MLOps platform owner will be able to provide a single ML system of record to maintain an accurate history of all ML experiments, model history, and dataset versioning. They will also be able to optimize GPU resource scheduling and consumption for ML practitioners. "Run:ai and Weights & Biases together give data scientists, and the IT teams that support them, a complete solution for the full ML lifecycle, from building models, to training and inference in production. Companies building their AI infrastructure and tooling from scratch can use NVIDIA GPUs, Run:ai, and W&B and have everything they need to manage AI initiatives at scale." Omri Geller, CEO and co-founder of Run:ai The collaboration between Weights & Biases and Run:ai will significantly help ML academics and businesses using NVIDIA GPUs. As software partners for NVIDIA DGX-Ready and NVIDIA AI Accelerated, Run:ai and W&B have both received validation. In order to assist businesses to get the most out of their investment in NVIDIA-accelerated systems for ML and AI, the cooperation will build on connections between W&B and Run.ai with NVIDIA AI Enterprise software.

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