Machine Learning is already changing how the world functions as the leading companies around the globe use its power to make groundbreaking innovations. ML and AI are together transforming the way enterprises spot opportunities and inefficiencies by harnessing the data available. The ML and AI combination is quintessentially giving the businesses an edge over their competitors. One of the companies which are lending its AI-expertise to enterprises is Ayasdi AI.
Founded in 2008, Ayasdi is a Menlo Park-based company that gives enterprises the edge through its deep knowledge in AI. The company deploys the world’s most advanced machine learning to help businesses gain insights so that they can see what others can’t. The insights help enterprises capture growth, swerve around risks and raise the efficiency with great accuracy, speed, and transparency. Ayasdi has in simple terms given enterprises the chance to foresee opportunities and make most out of the data. Ayasdi extends its services for financial services, healthcare, and the public sector.
Tackling Clinical Variation with Flagler
The Institute for Medicine says that clinical variation can account for 30% of all the healthcare costs. Clinical variation though remains a complex problem. Only a few healthcare organizations around the world have been successful at eliminating waste while delivering excellent care for their patients.
Clinical Variation Management (CVM) is one of the areas of expertise for Ayasdi AI. Recognizing the potential in Ayasdi’s CVM, Flagler – one of the best hospitals in the country, chose to license the Ayasdi’s CVM software application in 2018. Flagler became one of the first community hospitals in the country to use AI to improve clinical outcomes for its patients by doing so.
AI seemed like a key to solve such a complex issue for Flagler and it chose Ayasdi to deploy CVM. Considering that the CVM from Ayasdi won the 2018 Fierce Innovation Award, Flagler’s bet wasn’t a bad one. The move by Flagler is bound to be a model for other community hospitals in America to go the AI-way to help patient care and decrease the care costs.
AI Solution for Anti-Money laundering
Fraudulent transactions, missed clues and wasted cycles cost banks around the world billions of dollars every year. Ayasdi in its effort to focus on building its AI-based solution for the financial marketplace launched its anti-money laundering solution in September this year.
The advanced anti-money laundering (AML) solution is aimed at boosting the efforts to fight the fraudulent money laundering schemes. The solution is state-of-the-art machine learning technology that requires zero supervision to look into transaction behavior, risk rank alerts, and to understand customer activity. This enables investigators to focus on suspicious behaviors. The solution is comprehensive and can reduce the investigative volumes by more than 20%.
Meet the leader
Ishan Manaktala, CEO
Mr. Manaktala brings with him an experience of over two decades in capital markets including the buy-side, sell-side, and financial technology. Prior to Ayasdi, he led the product development teams at Deutsche Bank for the High Frequency and Algorithm Trading Platforms. He was the COO at CoreOne Technologies and MD of IHSMarkit.
He holds graduate degrees from Columbia Business School and London Business School.
A SymphonyAI company
2019 has been a happening year for Ayasdi. The company became a part of the globally respected SymphonyAI Group which was founded by Dr. Romesh Wadhwani. SymphonyAI is a billion dollar investment platform that focuses on the next-gen AI and machine learning companies in Retail, Industrial, Media, Healthcare, Financial Services and Enterprise markets.
Accenture HealthTech Innovation Challenge Innovation Champion
The Accenture HealthTech Innovation challenge was held for the third time this year. The challenge invites companies to showcase their innovation and pairs them with prominent health and life sciences organizations to develop innovative technologies for healthcare.
In 2019, the competition saw more than 1,100 companies compete for the title. Among these, Ayasdi was declared the winner of ‘Innovation Champion’ award. The award was presented to Ayasdi on January 7, 2019 at the StartUp Health Festival during the 37th annual J.P. Morgan Healthcare Conference in San Francisco.
The company’s other plaudits include:
- The company received the 2018 Fierce Innovation Award in data analytics/business intelligence category for its Clinical Variation Management (CVM) application
- The company was also a winner of MEDICI Top 21- RegTech Awards in 2018
- In 2017, the company was selected in the Artificial Intelligence 100 list by CB Insights
“Symphony AyasdiAI solutions use groundbreaking machine learning to transform the way you spot opportunities, threats, and inefficiencies, by extracting insights from your existing data, with unprecedented accuracy, speed, and transparency.”
“For the first time, financial institutions can address events as they’re happening—across the business and in every detail.”
“Ayasdi deploys the world’s most advanced machine learning to help you see new and valuable insights in your data.”