50 Most Influential Companies of the Year 2021
Today, data drives most business decisions. With access to more data and more information than ever before, it is essential to analyze and interpret it correctly. When it comes to security, finding the outliers is only the first step. Network admins must be able to identify and react to changing operational conditions. Nuances in the operational conditions of data centers or cloud applications can signal unacceptable levels of business risk. Determining if the outlier is a security threat and understanding the root cause of the anomaly is the key to a real solution. Anomaly detection is central to extracting essential business insights and maintaining core operations. In order to address these kinds of operational constraints, newer systems use more intelligent algorithms, Artificial Intelligence (AI) and Machine Learning (ML), to identify outliers in temporal time series data to accurately forecast periodic data patterns.
Effective and accurate anomaly detection techniques rely on Machine Learning algorithms to learn from the data and make predictions based on the data. There are many providers of anomaly detection solutions for businesses across the world, but Alexis Networks, Inc. stands out from the rest. Alexis Networks, Inc. is a B2B subscription-based software product company. The company is the maker of the world’s first One-Click Anomaly Detection Solution that uses proprietary Artificial Intelligence and Machine Learning technologies. The One-Click Anomaly Detection Solution is 100% unsupervised Machine Learning algorithms on 100% unlabeled data requiring zero human intervention in the stage of the Anomaly Detection process. Alexis Networks, Inc. is a pioneer in Anomaly Detection by finding frauds, omissions, and errors in streaming data from operational data sources for companies at every scale.
ALEXIS is a single stack software offering including – Data Lake Processor, ML Data Pre-Processor, Data Anomaly Detection, AI Anomaly Detection (preventing model poisoning), App Exchange and Business Solutions. We recognize that customers today are having to cherry pick different vendors for these different technology needs, we are delighting our customers by taking ownership of their anomaly detection problem from start to finish.
The following questions were answered in conversation with Rick Parimi, CEO and Founder of Alexis Networks, Inc.
Q. What motivated you to reinvent anomaly detection technology?
Alexis Networks, we call it ALEXIS, was founded in February 2019 after nearly five years of intensive R&D and multiple proof points across Healthcare, Cyber Security, and Operations. It is an eight-step process to implement anomaly detection solutions. Through our extensive R&D, we discovered the correct innovation that enables ALEXIS to show customer success within a week. I just wanted to give customers something they have been cherishing for.
Q. Perception and reality must coincide in this digital era. How do you know if there is a probability of anomaly?
Where there is smoke, indeed, there is fire. ALEXIS takes a pragmatic approach in showing you the anomalies and the data features with their respective probabilities in causing anomalies. Therefore, ALEXIS is also a business agility tool.
Q. Where do you think the modern enterprise fraud/security system is lacking behind, and how is your company filling the void?
While it is true that there are more than three dozen solution providers within the domain, none of them have more than 1% market share despite quite a few companies being around for a decade and having raised billions in funding. This tells me that the customer business operators have not found the optimal solution. Existing solutions take multiple man-months and cost millions to be implemented. I reinvented anomaly detection technology because I genuinely believe in democratizing Artificial Intelligence (AI) and Machine Learning (ML). ALEXIS is vastly superior in comparison to all other Anomaly Detection Solutions. We are enabling customer success within one man-month and at a fraction of the cost. Moreover, ALEXIS is for companies of all sizes.
Q. Modern cyber-attacks are equally automated. How do you help organizations to fight fire with fire?
Cyber-attacks are automated and getting more intelligent, but so is ALEXIS. We have incorporated six sigma techniques that make ALEXIS smarter than the best hacker, and ALEXIS does all of this without any human intervention.
Q. Internal inefficiencies in an organization undermine security analytics and operations. Do you help your clients patch their internal operations?
Customers are struggling because of noise and ambiguity from solution vendors. ALEXIS aims to be the constant. With ALEXIS’ innovative approach of the ensemble of AI / ML pipelines and ALEXIS Data Streaming pipelines, ALEXIS’ solution significantly lowers the customer barriers for implementing anomaly detection solutions.
Q. Bigger the network. Bigger the issue. Do you think your services are ready to cater to the needs of never-ending digital transformation?
Since forever, the data network has been growing at a constant 25% year-over-year pre-pandemic and is now growing at over 50%. Some customers know this, while others are yet to feel this pain. ALEXIS brings in simplicity and convenience, and with the ALEXIS App Marketplace, ALEXIS will always be in the best position to power up customers’ digital transformation.
Q. How efficient is your expertise, and how do you keep your service standards up and running?
We at ALEXIS know that this is a journey for customer excellence. We are transparent and honest with our customers. We have partnered with NYU, Rutgers and hiring the best talent from Princeton University and the New Jersey Institute of Technology (NJIT). To deliver the best customer experience, we constantly look to improve our own operations. With the spirit of innovative development and our use of Kanban, we are continuing to grow our expertise.
Q. Will Alexis Networks, Inc. be expanding, bringing on any new services that we should be aware of?
Our mission at Alexis Networks is to serve customers through One Click Anomaly Detection and Predictive Intelligence solutions, Platform Services, and Marketplace Services focusing on selection, price, and convenience. We currently offer ALEXIS 1.0, 2.0, and are soon to be offering 3.0. Each is for a different class of data anomaly problems. We are also launching the ALEXIS App Marketplace, starting with plug-n-play anomaly detection for customers using Snowflake very soon.
Meet the leader driving the innovation within Alexis Network, Inc.
Rick Parimi is the Founder and CEO of Alexis Networks. Rick is also the President at Arushi Ventures, a privately held Private Equity firm in New Jersey guiding Private Equity Management, Management Consulting, and Technology Advisory Services. He is the Seed Investor for ALEXIS and R&D investor for the ALEXIS-NYU program. He has been funding scholarship programs at NYU. Mr. Parimi is an Advisory Board member of UAlbany’s CEHC (https://www.albany.edu/cehc). He has authored seven software patents for IBM and has also worked at GE. Rick has a Fellowship from Harvard T H School of Public Health for leadership in Healthcare IT. He holds an MBA from NYU and an MS in Computer Science from UAlbany, among other educational qualifications. Rick lives in NJ with his family, and amongst other things, his passion is also to nurture tomorrow’s talent.