CTE announces new client in AI as a Service
Cambridge Technology Enterprise (CTE), announced the acquisition of a new client in AI as a Service (AIaaS). The client has a strong focus on the BFSI vertical, based in North America.
- (1888PressRelease) August 23, 2017 - Hyderabad : Cambridge Technology Enterprises Limited (NSE: CTE; BSE: 532801), today announced the acquisition of a new client in AI as a Service (AIaaS). Based in North America, the client has a strong focus on the BFSI vertical. Under the AIaaS model, CTE benefits from receiving a share in the incremental revenues of it client’s business by deploying its proprietary algorithms, differentiating CTE from industry peers.
Hyderabad headquartered company, CTE will also own additional IP along with the rights to resell and adapt the IP in Australia, Europe, and Asia-Pacific Regions. Along with a management fee, CTE will be eligible to receive a substantial share of the incremental growth in the net revenues of the client derived from CTE’s algorithm.
CTE’s broader engagement will help the client in solving a variety of business problems and optimizing their existing processes, a few of which are listed below:
• Deploy cutting-edge approaches in Artifical Intelligence/Machine Learning in the area of contextual multi-armed bandits enabling the system to adapt to changing the environment.
• Efficiently ask what-if questions using methods of counterfactual machine learning.
• Leverage AIaaS model for continuous improvements and refinement to the optimization algorithms by deploying the latest research and improvements in the field of Artificial Intelligence/Machine Learning.
• Access to data scientists, researchers, and statisticians with a focus on helping customers address their Data Science problems
• The application of such a framework can be adapted to other parts of client’s businesses helping to drive a unified scientific framework across the whole business.
In acknowledgment of the achievement, Aashish Kalra, Chairman of CTE, said, “AI can make immediate contributions towards critical business decisions leading to increased profitability for the organizations. Through the AIaaS model, we enable businesses to unlock the value of their data by bringing together unparalleled access to cutting-edge technology and expertise in building solutions for some of the world’s largest and most innovative enterprises. We are excited to partner with enterprises on cutting-edge technologies, provide superior value and more effective service on revenue-generating IPs.”
The solution is aimed at optimizing the client conversion ratio in one of the key lines of businesses of the client by employing a systematic, automated and statistically sound methodology to optimally formulate offers. The solution employs a number of state of the art algorithmic techniques such as contextual multi-armed bandits and using techniques in the emerging subfield of counterfactual machine learning.
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