Archive for Element AI

Element AI Helps Edelweiss Tokio Life Accelerate AI Transformation

Posted in Commentary with tags on August 19, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and products, today announced the Indian insurer Edelweiss Tokio Life Insurance, as its newest client. Launched in 2011, Edelweiss Tokio Life has quickly become an important player in India’s life insurance market as one of the most innovative insurers with a product offering that fits today’s customer expectations.

The Element AI team will work closely with Edelweiss Tokio Life to create an actionable roadmap for strategic AI deployment for the company, which will ultimately support a detailed AI transformation plan. This work will utilize unique learnings and insights from Element AI to establish technical feasibility and identify AI use cases.

Commenting on the development, Nilesh Parmar, Chief Operating Officer, Edelweiss Tokio Life Insurance said, “As an organisation, we are focused on building agility and scalability within our processes and systems. With a single-minded focus on delivering a seamless and superior customer experience, we want to empower ourselves with digital technologies like artificial intelligence that can help us better serve our customers. We are glad to have found a like-minded partner with Element AI to assist us in this transformation journey.”

Element AI helps organizations like Edelweiss Tokio Life accelerate AI adoption by:

  • Identifying how AI can help address the key challenges facing a business and finding the unique AI investments that balance creating value today with building capabilities for tomorrow
  • Assessing the potential of a company’s current data, technology and software infrastructure to deploy AI workflows and systems through a strategic lens
  • Empowering employees to work smarter with AI by building an organization’s literacy and trust to work with AI
  • Establishing a framework for trustworthy, explainable and responsible AI for now and the future

To learn more about Element AI for Insurance, visit: https://www.elementai.com/industries/insurance.

To learn more about Element AI Advisory and Enablement, visit: https://www.elementai.com/products/advisory-and-enablement.

Element AI joins the SGInnovate “Deep Tech for Good” Initiative

Posted in Commentary with tags on July 6, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and services, today announced it is joining the SGInnovate Deep Tech Summit as an ecosystem partner. In line with the launch of its AI for Climate program, the company’s participation in the Deep Tech for Good initiative will help accelerate the use of frontier technologies including machine learning (ML) and AI to improve the human condition and fast-track sustainable developments across multiple markets.

The first session featured at Deep Tech for Good was the AI for Climate Masterclass: How AI Can Help Manufacturers to Achieve Sustainability Goals. This workshop was designed to help leaders and practitioners in manufacturing-related industries learn about the challenges and opportunities for deploying AI to drive organisational sustainability goals whilst managing ROI.

As part of this continuing series, Professor Yoshua Bengio, Scientific Director of Mila and Co-Founder of Element AI, and Dr Kai-Fu Lee, Chairman and CEO of Sinovation Ventures and President of Sinovation Ventures Artificial Intelligence Institute, will share their perspectives on the topic, “Using AI to fight COVID-19 and Climate Change”. The virtual session will be happening on July 23rd at 9am (SGT). Register here.

Through its collaboration with the Deep Tech for Good initiative, Element AI is sharing insights from its experiences at the forefront of AI technology deployments and its work alongside sustainability experts from industries such as energy, manufacturing and supply chains to improve the efficiency of processes and the impact of sustainability programmes. The core intention of this initiative is to educate decision-makers about how technology can be leveraged for good, applying sustainable, climate-friendly methodologies that also create positive return on investment for businesses.

For more information about Element AI solutions and services, contact: elementai.com/contact.

Element AI Signs Memorandum Of Understanding With Union Bank Of The Philippines

Posted in Commentary with tags on June 16, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and software, today announced a new collaborative relationship through the signing of a Memorandum of Understanding (MOU) with Union Bank of the Philippines (UnionBank). Element AI will be contributing to the development of a governance framework for the responsible adoption of AI as UnionBank looks to develop trusted & fair AI solutions for its customers.

Element AI will work with the UnionBank’s AI and Data Policy Unit, which is dedicated to leading the development of ethical and business standards for artificial intelligence, to ensure proper data governance, respect for human rights, fairness and accountability for AI systems. Initially Element AI will conduct specific research that will inform a whitepaper which will act as the roadmap to evaluate fairness in the context of various financial services use-cases, such as fraud detection in retail credit card transactions. The ultimate outcome will be the development of technical measures and solutions that ensure that the principals of the fairness framework for the use of AI and data are embedded in all of UnionBank’s digital products and services at an operational level.

To learn more about Element AI advisory & enablement, and AI-powered solutions, visit:https://www.elementai.com/.

Element AI Announces Collaboration with Veritas Consortium led by Monetary Authority of Singapore (MAS)

Posted in Commentary with tags on May 28, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and software, today announced a new collaborative relationship with the Veritas Consortium led by Monetary Authority of Singapore (MAS), to assist with developing a framework for driving the responsible adoption of AI in the financial services industry.  The consortium has an overarching mandate to implement the FEAT principles (Fairness, Ethics, Accountability, Transparency) as critical considerations for the deployment of Artificial Intelligence and Data Analytics (AIDA) technologies within financial institutions.

The FEAT principles and the Veritas initiative are part of Singapore’s National AI Strategy, aimed at building a vibrant and responsible environment for AI adoption within the financial sector.  As one of the AI technology providers to the consortium, Element AI’s involvement aims to include a range of research and development activities in support of this mandate. One of the first initiatives being undertaken is in collaboration with United Overseas Bank (UOB), one of the lead consortium members. Together they will develop a set of quantifiable metrics for financial institutions to assess the extent to which data and the algorithms or models used to evaluate credit scoring for unsecured lending meet the principles of Fairness. 

The consortium’s goal is to publish a research report on the project and to open-source the code for the metrics for AI practitioners to review and to eventually use within their own organizations. The report is expected to be published in the second half of 2020.

To learn more about Element AI advisory & enablement, and AI-powered solutions, visit:https://www.elementai.com/.

Element AI announces a new partnership with Shinhan Financial Group

Posted in Commentary with tags on May 20, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) services and software solutions, today announced its first phase of research and development with Shinan AI, the newly launched AI-powered investment advisory services company, a subsidiary of Shinhan Financial Group. 

As one of the company’s first specialist AI development partners in Korea, this strategic partnership is focused on the co-development of next generation solutions, a key focus for Element AI and Shinhan Financial Group, who signed a memorandum of understanding (MOU) in May 2019. Element AI has now begun a research collaboration to integrate its cutting-edge AI forecasting technology with Shinan AI’s NEO investment advisory platform, introduced in September 2019.

In today’s highly competitive and algorithmically powered capital markets, forecasting index prices for investment decisions has become quite complex. Element AI is applying its proprietary algorithms to offer a novel approach to forecasting equity indexes while providing for future extensibility to additional asset classes. These deep learning based algorithms will help simplify and accelerate application and forecasting decisions support for the tracked indexes on the NEO platform.

The highly acclaimed expertise of the Shinhan Financial Group along with the globally recognized applied research and AI innovations from Element AI, will offer capital market customers using the Neo platform higher quality analysis, more accurate predictions, and powerful investment and asset rebalancing guidance when markets face unexpected conditions.

Element AI will continue to work as a key partner and advisor to Shinhan AI in the coming years to continue researching, developing and deploying cutting edge AI powered solutions to unlock the transformative value that AI offers to Shinhan Financial Group and its customers.

To learn more about Element AI and its global solutions and services, visit: https://www.elementai.com/

Element AI Reveals Its AI Maturity Framework

Posted in Commentary with tags on May 13, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and services, today announced that it has published the AI Maturity Frameworkwhich consists of a mapping tool and a whitepaper. The whitepaper provides in-depth insights on how organizations across all industries can become AI-ready faster and the tool helps organizations quickly map their AI-readiness. The tool and whitepaper address a knowledge gap in the AI industry, as few resources exist on how organizations can actually evolve their AI-readiness from theory to practice. 

Since 2019, the Element AI AI Maturity Survey has collected data vital to informing the AI Maturity Framework whitepaper and tool. To date, the survey has collected insights from 200 senior decision-makers across multiple industries—primarily in North America—and determined that organizations are still struggling with their AI journeys. Key findings in the survey reveal:

  • Fewer than one in ten organizations are mature enough to operationalize and scale AI production
  • 79 percent of organizations surveyed haven’t graduated from experimenting with AI in a lab setting
  • Only 14 percent of organizations surveyed are formalizing their approach to deploying AI within their organization

While there are plenty of resources written with calls to invest in AI and the benefits of the technology, few exist on how organizations can take AI technology and develop a plan that is actionable and fits within an organization’s culture. The Element AI AI Maturity Framework whitepaper provides insights into how the AI journey is unfolding in multiple industries, drawing from firsthand experience of the Element AI advisory and enablement practice. The whitepaper provides a deeper dive in understanding the nuances of the different stages and dimensions of AI-readiness, and provides industry benchmarks, case studies and practical tips/tactics on how to move to the next stage of AI integration.

The Element AI AI Maturity Framework tool and whitepaper is available for free download here: https://www.elementai.com/products/ai-maturity

For more information about Element AI solutions and services, contact: elementai.com/contact.

Element AI announces new Chief Financial Officer and Chief Revenue Officer

Posted in Commentary with tags on May 5, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) solutions and services, today announced that it has appointed a Chief Financial Officer (CFO), Roger Blanchette, and a Chief Revenue Officer (CRO), Stephan Rioux. These new members will work with the executive team and across all lines of business as Element AI continues to focus on delivering solutions and services to its global customers.

As CFO, Blanchette will oversee all of Element AI’s financial activities including financial planning, forecasting, and reporting. Prior to joining Element AI, Blanchette was the CFO of Skyword, a private equity backed software company that provides a marketing content management solution. He has a proven track record of providing strong financial leadership while significantly contributing to the definition and execution of corporate strategy.

Stephan Rioux, in his role as CRO, will establish strategic alignment for all revenue-related functions, including marketing, sales, customer support, and revenue management. Prior to joining Element AI, Rioux was the Global CRO for JW Player and spent 13 years at Adobe as Vice President of North America Strategic Verticals, M&E, FSI and Retail. He is a global sales leader and has deep expertise with enterprise software, SaaS, security, data and AI.

As artificial intelligence and machine learning integrations continue to rapidly evolve, Element AI acts as a bridge between fundamental AI research with advisory and enablement services that lead to full-stack AI solutions. The addition of both Blanchette and Rioux to the executive team will help the company assert financial synergies between these separate yet equally important arms of the business. 

For more information about Element AI solutions and services, contact: elementai.com/contact.

Element AI announces Orkestrator

Posted in Commentary with tags on February 11, 2020 by itnerd

Element AI, a global developer of artificial intelligence-powered (AI) services and software that helps enterprises ‘operationalize AI’, today announced Element AI Orkestrator, the latest addition to the company’s portfolio of AI-powered software solutions. Designed for AI practitioners and the IT teams that support them, Element AI Orkestrator is a workload scheduling tool built as a result of the company’s need to optimize its own computing resources. A software-as-a-service (SaaS) version is available now, with an on-premises version expected for Spring 2020.

Element AI Orkestrator helps customers future-proof their IT infrastructures through optimized utilization of GPU clusters, allowing AI practitioners to build quality models and remove most of the engineering heavy lifting required to efficiently use GPUs. By maximizing these specialized and in-demand resources, Orkestrator will play a pivotal role in supporting the structural backbone of organizations deploying AI solutions for increased overall productivity.

Using Kubernetes, Element AI Orkestrator provides AI researchers, applied research scientists, and developers with the computing infrastructure needed to efficiently build and maintain AI models. Providing enhanced transparency and control over job scheduling, Orkestrator allows AI practitioners to conduct higher-level jobs such as batch processing and hyperparameter searching.  IT administrators can simultaneously optimize cluster use, simplify node maintenance, and gain better visibility through dashboards

As organizations build and implement their own AI solutions that will need to be scaled over time—computing power and storage requirements will grow to accommodate heavier GPU-based workloads with increasingly complex resource distribution and management.

Watch a video demonstration (1min. 20sec.) of Element AI Orkestrator here:

To request a sales call or product demonstration for Element AI Orkestrator contact: elementai.com/contact

To learn more about Element AI and its AI-powered products, visit: https://www.elementai.com/

Element AI Brings AI-Powered Underwriting To GroupAssur

Posted in Commentary with tags on February 3, 2020 by itnerd

Element AI, a global developer of AI-powered services and software that helps enterprises operationalize AI, today announced that GroupAssur, a Canadian-based broker and tech pioneer in the evolving insurance landscape, will use the Element AI OS for Insurance to optimize its underwriting workflows.

As a progressive Managing General Agent (MGA), GroupAssur recognized the need to automate tasks within the underwriting process that are manual, time consuming and inefficient. Designed to improve underwriting efficiency and increase the volume of business written, the Element AI OS for Insurance will automate these tasks with Element AI components such as document entity extraction, text classification and predictive models.

Built to scale to insurers and brokers of all sizes, the Element AI OS for Insurance software is engineered with AI components that enable insurers and brokers to quickly and efficiently deploy and monitor AI solutions. These components—built specifically to address insurance use cases—can be assembled to solve end-to-end business problems through the entire insurance value chain.

To learn more about the Element AI OS for Insurance or to request a product demo, contact: https://www.elementai.com/contact.

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Element AI announces Access Governor

Posted in Commentary with tags on January 20, 2020 by itnerd

Element AI today announced the general availability of its Access Governor product, the latest addition to the company’s growing portfolio of AI software solutions. Drawing on the end-user’s historical data, Access Governor analyzes, recommends, and manages the most appropriate information and location access rights for large groups of employees, so they can efficiently complete their jobs. The product allows the IT team to quickly authorize or revoke employee access and accounts, creating a safer, more orderly organization. Access Governor is available now through the Element AI sales group.

For years, businesses have struggled with regulating digital access control to data and facilities—especially businesses with high numbers of employees and external contractors.

Element AI has taken its applied research capabilities to create a software that will analyze and manage role-based access control for multiple ‘digital keychains’ with predictive pre-assembly and activation/revocation intelligence that can quickly facilitate access to the critical information and assets of any company.

While role-based access control systems have existed for a long time, rules and protocols had to be configured. This is a slow and inefficient process, with no intuition on the part of the access control layer. Many businesses end up having to manually configure and reconfigure rules each time there is a reorganization of employees or changes in the applications used. Access Governor brings in an additional layer of intelligence built on top of this process that looks at past patterns and current trends to empower any IT team to quickly adapt to employee additions, departures and changing contractor access rights.

For more information about Element AI Access Governor product, or to request a sales demo, contact: elementai.com/contact.