Artificial Intelligence on a Hot Streak!
Artificial intelligence (AI) is fast transforming how we work, think, and even live. Today, many industry leaders are hailing AI as one of the most revolutionary technological breakthroughs of all time. From banks and insurance companies to governments, organizations across sectors are rapidly adopting AI to enable intelligent business operations and fast-track their digital initiatives.
Why the Hype around Artificial Intelligence?
Organizations are fast moving to AI-enabled processes, as suggested by a Gartner report, “By 2025, 70% of organizations will have operationalized AI architectures due to the rapid maturity of AI orchestration initiatives.”
Here’s what makes AI the most coveted technology today:
- Many organizations are deriving intelligence from diverse content and ensuring smart decision-making through AI-powered data analytics
- Data mining and customer-level insights are helping organizations offer tailor-made, hyper-personalized offerings and contextualize customer engagements
- AI-enabled virtual assistants and chatbots ensure quick response to customer queries and handholds customers throughout their transaction journey
- Applications powered by AI algorithms have a self-learning ability that enhances application accuracy
Newgen to Acquire Number Theory to Lead with Artificial Intelligence
Newgen is set to acquire India-based Number Theory, an AI/ML-based data science platform company. This will help Newgen strengthen its position as an AI/ML innovator and deliver cloud-native data science capabilities to every enterprise.
With this acquisition, Newgen expects to:
- further enhance its low code digital transformation platform with intuitive AI/ML capabilities unifying the entire data lifecycle, from data preparation to model deployment and monitoring
- empower both citizen and expert data scientists as well as data engineers to work on AI/ML projects faster and with more efficiency
- leverage intelligent automation to accomplish key machine learning tasks in just minutes or hours, not months
We recently hosted a panel discussion with Mr. Arvind Jha, Senior VP at Newgen, Mr. Rajan Nagina, and Mr. Tarun Gulyani, Co-founders of Number Theory. Watch the recording of this discussion to gain insights into the key market trends that facilitated this acquisition move, the challenges that enterprises face in AI/ML adoption, and how Newgen and Number Theory plans to take AI to every enterprise.
