ISB, Microsoft to set up artificial intelligence digital Lab

Artificial Intelligence (AI) spans every major industry and is likely to dramatically transform industries. With better algorithms and large amounts of data, AI has the potential to perhaps outperform human decision-making. Performance differentials between firms on account of their proficiency with AI will also likely intensify over the coming years and will shake up most industries. “AI is a gamechanger to drive new business models and transform today’s businesses and workplaces,” remarks Anant Maheshwari, president, Microsoft India. Taking a cue, the Indian School of Business (ISB) and Microsoft India have inked a new partnership to take forward their shared vision for an AI-empowered India. Through the creation of the AI Digital Lab, the two organisations will collaborate in research which will use AI and Machine Learning (ML) to study issues that are relevant for business and public policy. In addition, the partnership will also introduce a new executive programme titled “Leading Business Transformation in the Age of AI” in October 2019 which will equip business leaders with tools and strategies to transform their respective organisations to AI-driven organisations.

Spotlight

Other News
Software

Persistent Announces Strategic Collaboration Agreement with AWS to Accelerate Generative AI Adoption

Persistent Systems | January 05, 2024

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT), a global Digital Engineering and Enterprise Modernization leader, announced a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS) to accelerate the pace of innovation and development of generative AI solutions for clients. Persistent is a long-standing AWS Partner and has a proven track record of early scale generative AI adoption across multiple industry verticals leveraging services like Amazon CodeWhisperer and Amazon Bedrock. Amazon CodeWhisperer provides generative AI-powered code recommendations directly in multiple integrated development environments (IDEs) to help developers build applications quickly in more than 15 coding languages; Amazon Bedrock is a fully managed service that makes foundation models (FMs) from leading AI companies accessible via an API to build and scale generative AI applications. This strategic collaboration with AWS will help Persistent to further increase the impact it delivers to its clients that are embracing generative AI. Through this teaming, Persistent will have access to additional resources from AWS to build proofs of concept to help clients identify tangible business outcomes from generative AI. This will also support use case discovery and rapid build out of solutions with additional go-to-market funds from AWS. One of the key benefits to combined clients will be continued early access to AWS's generative AI services and investments that will help clients with their aspirations around growth, time-to-market, and better customer experience. The Strategic Collaboration Agreement builds on Persistent's 30+ years of software engineering heritage, its best practices from more than 120 AWS engagements for cloud migration and modernization, and its 2,500 AWS practitioners to enable flexible and scalable generative AI-powered solutions tailored to clients' unique needs. Persistent's AWS Migration Competency status provides proven cloud expertise to help clients move successfully to AWS through all phases of complex migration projects. This collaboration reflects Persistent's proficiency in building robust cloud infrastructure, crucial in today's cloud-first, AI-first world, enabling clients to implement cloud-powered generative AI solutions. These combined assets from AWS and Persistent can bolster the value provided to joint clients, helping them unlock the full potential of their technology investments. Rajiv Sodhi, Senior Vice President – Hyperscaler Business & Strategic Alliances, Persistent: "Enterprises across industries are looking to tap into the transformative potential of generative AI to reimagine, redefine, and rethink their business models for improved customer experiences and business growth. Combined with our newly acquired AWS Migration Competency status and our SCA, AWS will help us scale generative AI adoption among our clients so they can identify and implement use cases where this technology can have a real impact. We remain committed to helping clients reach their technology goals by leveraging the agility, breadth of services, and rapid innovation that AWS provides." Quan Yang, Vice President of Research IT, Regeneron: "Generative AI unlocks new opportunities to transform the life sciences industry. We are modernizing our legacy research applications to help accelerate the drug development process and simplify workflows. With Persistent's Digital Engineering expertise, powered by the AWS platform, Regeneron's research and pre-clinical development teams help bring our new life-savings drugs to market faster." Chris Sullivan, Vice President, Worldwide System Integrator Partners, AWS: "We are delighted to be working with Persistent to help our customers accelerate growth, enable business transformation, and enhance their digital experience. Together, we aim to redefine what's possible with generative AI, setting new standards for efficiency, innovation, and technological advancements." About Persistent With over 22,800 employees located in 21 countries, Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 268% growth since 2020, Persistent is the fastest-growing Indian IT Services brand according to Brand Finance.

Read More

AI Tech

PSPDFKit Leads the AI Revolution in Intelligent Document Processing with Release of XtractFlow

PSPDFKit | January 23, 2024

PSPDFKit, a leading document processing and manipulation platform, announces the release of XtractFlow – a groundbreaking intelligent document processing (IDP) engine powered by generative AI. XtractFlow provides advanced automation for large-scale document classification and data extraction across a broad range of formats, with human-level accuracy. Due to the vast and varied document landscape, traditional IDP platforms are inefficient to run, requiring more resources, time and complex processes. Developers and automation project managers may require several days for setup and deployment of document classification, as well as face complexities with data extraction workflows when working with a broad range of formats in order to achieve high levels of accuracy. This is exacerbated by the limitation of using templates and pre-set patterns to extract data. XtractFlow addresses these challenges by simplifying setup and deployment to a single day and using generative AI from OpenAI and Azure in the first release to intelligently identify the document format, classify the types of documents co-mingled in unstructured storage, and consistently extract data, regardless of its location in the document, with human-level accuracy. AI-Powered Features Supports Hundreds of Formats XtractFlow efficiently extracts data from hundreds of document formats, including PDF, JPEG, Office and CAD files, regardless of document complexity. Automate Document Classification With minimal setup, XtractFlow automatically categorizes documents including contracts, legal filings, lab reports, bank statements and more, in high-volume workflows. Developers can easily customize deployment with either the XtractFlow SDK or API. Extract Data Accurately and Effortlessly XtractFlow effortlessly interprets and retrieves the data users need, avoiding extensive coding and the strict rules for data extraction with a no-code approach, and enables a natural-language experience for the end users. "We've always felt we could go far beyond traditional IDP technology — more accuracy and more intelligence — along with less work spent setting and tuning it for specific workflows," says Miloš Đekić, Vice President of Product Management at PSPDFKit. "Generative AI has enabled us to deliver XtractFlow and bring human-level accuracy to document classification and data extraction in a way that significantly accelerates time to value for our customers." XtractFlow supports PSPDFKit customer data security standards with a strict non-storage policy and aligns with global data retention standards, ensuring integrity and security at every step of your applications and business processes. About PSPDFKit PSPDFKit is helping the world innovate beyond paper with its developer tools, API services, and low-code solutions covering the entire document lifecycle from creation, manipulation, real-time collaboration, signing and markup. The company's products cover all major platforms and support a wide range of programming languages and can be deployed on-premise or in the cloud with ease and at any scale. PSPDFKit has earned its developer first reputation by pioneering products that are easily integrated, completely customizable to fit any deployment and workflow, and trusted by startups, SMBs and some of the largest multinational enterprises.

Read More

General AI

New SysAid Copilot counters ineffective chatbot deployments with next-gen, generative AI-powered IT Service Management

SysAid | January 12, 2024

SysAid, a leading provider of IT and Enterprise Service Management solutions, proudly announces the commencement of an exciting new chapter with the commercial release of SysAid Copilot, designed to liberate organizations by putting AI to work, for them and their people. At the core of SysAid Copilot is the AI Chatbot for End Users delivering always-on, 24/7 service. This conversational self-service experience uses generative AI to help employees work through issues by delivering answers, utilizing the organization's data, from knowledge base articles through ticket resolution history – as well as verified external data sources, links, and documents. Combating ineffective virtual agent deployment According to Gartner, "Staffing an IT service desk is difficult and a considerable expense. Long phone queues and abandoned calls are not uncommon. Yet, many I&O leaders have experienced issues with the implementation and adoption of virtual support agents, which are aimed at alleviating some of these challenges." One of the main factors attributed to these issues is that initial deployments of chatbots were ineffective[1]. With no code zero setup required, SysAid Copilot comes with a feature set designed to counter the potential pitfalls arising from sub-optimal deployment of traditional virtual support agents. The AI Usage Dashboard clearly reflects the value provided to both admins and end users through usage of SysAid Copilot features. For example, adoption of the AI Chatbot for End Users and Assistive AI features for admins. It also offers insights into AI-contained issues, indicating the rate at which problems were automatically resolved by SysAid Copilot using the organization's data and averting the need for ticket creation. In parallel, admins maintain ultimate control over the quality of responses with the ability to monitor, edit, and fine-tune answers provided by the AI Chatbot enabled by a Monitor and Fine-Tune feature. AI Author enables the provision of consistently professional service by rephrasing replies, elaborating on answers, and breaking down information into simple steps with responses that are comprehensible and accessible for employees. This also exempts admins from the need to grapple with wording and grammar. Embedded into the channels that employees already use, SysAid Copilot facilitates quick adoption within the organization. For example, employees get service in a single click from the AI Chatbot (one-click ticket creation) or automatically via the AI Emailbot, delivering an immediate response even before an admin sees the ticket. Increasing productivity SysAid Copilot leverages cutting-edge generative AI technology, elevating admins to play a strategic role in the organization and improving IT productivity by over 20%. "The release of SysAid Copilot is a momentous milestone in our quest to lead organizations on a transformative journey toward AI-driven organizational processes and excellence," said Avi Kedmi, SysAid CEO. "Tapping into specialized data accumulated from thousands of customers and millions of users, SysAid Copilot enables employees to enjoy a fully conversational experience, freeing up admins to focus on more strategic work and become the catalyst for organizational productivity. SysAid Copilot orchestrates service management across the organization, embodying our commitment to infusing intelligence and ease into the workday, reshaping the landscape of service management. And this is only the beginning, as our dynamic roadmap promises a steady stream of groundbreaking features and capabilities ahead, ensuring the success of our customers." The General Availability of SysAid Copilot follows a 5-month design partner and beta program in which a diverse and engaged group of active customers played a pivotal role in refining and enhancing the product. The dedication and enthusiasm of the beta partners have been instrumental in shaping the product and ensuring that it is finely tuned to address the unique needs of SysAid's customer community, not only meeting but exceeding their expectations. Enhancing CSAT scores and slashing MTTR SysAid Copilot includes AI Intelligent Categorization automatically categorizing tickets submitted via the AI Chatbot for End Users and routes to the right people while making suggestions for more appropriate categories for tickets that come in through other channels, reducing human error in ticket categorizations by ~40%. In parallel, AI Case Summarization provides admins with a real-time summarization of the ticket content and employee sentiment (AI Emotion) so admins can understand the context, history, and end-user sentiment at a glance. "SysAid Copilot has helped our organization a great deal in providing support quicker. Since our department is oftentimes understaffed, wait times are higher than normal, and with SysAid Copilot we've witnessed those wait times plummeting," said Nathan Gleed, IT at the City of St George. "One of the most amazing aspects of this new technology is its continual learning, consistently improving performance and generating more accurate and sophisticated output." About SysAid SysAid is on a mission to liberate organizations by putting AI to work for them and their people. We orchestrate service management across organizations with generative AI that taps into specialized data accumulated from thousands of customers and millions of users. With zero setup requirements, our conversational AI manages employees' requests, assists with queries, and accelerates the resolution of issues. With intelligence and ease infused into the workday, productivity thrives so that employees can focus on what they're meant to do, and organizations are free to fulfill their purpose. With over 5,000 customers, SysAid partners with organizations ranging from small businesses to Fortune 500 enterprises across 140 countries. For more information, please visit www.sysaid.com

Read More

Software

IBM to Acquire StreamSets and webMethods Platforms from Software AG

IBM | December 18, 2023

IBM (NYSE: IBM) today announced that it has entered into a definitive agreement with Software AG (FRA: SOW), a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG's Super iPaaS (integration platform-as-a-service) enterprise technology platforms, for €2.13 billion in cash. As organizations continue to accelerate their digital transformations, application and data integration solutions are critical elements for application modernization and effectively deploying AI across the enterprise. StreamSets and webMethods are among the technology leaders in application integration, API management, and data integration. IDC predicts the worldwide integration software market will exceed $18.0 billion in 2027 at a compound annual growth rate (CAGR) of 16.1%.1 The acquisition of StreamSets and webMethods is further evidence of IBM's deep focus and investment in AI and hybrid cloud. StreamSets will add data ingestion capabilities to watsonx, IBM's AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments. The core offerings include: StreamSets - a cloud-native DataOps and data ingestion platform which allows enterprises to achieve consistent access and delivery of data across a wide spectrum of data sources and types. StreamSets also facilitates the design of smart data pipelines and the ingestion of real-time and batch data. webMethods - an integration and API management platform. The integration platform, deployed both on-prem and in the cloud, offers B2B integration, managed file transfer, and provides a modern API gateway to manage, monitor, and monetize APIs. Software AG's Super iPaaS platform is growing, profitable and has a significant recurring revenue profile. StreamSets and webMethods serve more than 1,500 clients across the globe. "Together with IBM's watsonx AI and data platform, as well as its application modernization, data fabric and IT automation products, StreamSets and webMethods will help clients unlock the full potential of their applications and data. This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside," said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM. "Today's news will give IBM clients and partners one of the most modern and comprehensive application and data integration platforms in the industry." The pending acquisition follows a more than 20-year relationship between IBM and Software AG, with both StreamSets and webMethods expected to drive synergy with IBM's current portfolio, including watsonx, Red Hat, the company's IT automation products, as well as IBM Consulting. Additionally, StreamSets and webMethods are expected to benefit from IBM's global scale, operating in more than 175 countries. "IBM is the ideal home for webMethods and StreamSets, the products at the heart of our Super iPaaS vision," said Sanjay Brahmawar, Chief Executive Officer of Software AG. "Combined with IBM's global scale and focus on hybrid cloud and AI, our people will have a fantastic opportunity to develop while helping enterprises everywhere get the most out of their applications and data." "We believe that there is no business more iconic or better suited than IBM to continue investing in and growing these great platforms," said Christian Lucas, Chairman of the Supervisory Board of Software AG and Managing Partner of Silver Lake. "The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling. We are pleased that our investment in Software AG helped spark that vision, reflecting Silver Lake's commitment to partner with the world's best management teams and technology leaders in driving exceptional value creation for customers, employees and other stakeholders." StreamSets and webMethods will be acquired with available cash on hand. The consummation of the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second quarter of 2024. About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Read More