June 26, 2018
After spending 25 years in various leadership roles to manage business process automation (BPO) operations—20 days per month on a plane and 18-hour days—came a point when Asheesh Mehra said to himself, “Its time to build my own dream.” He wanted to expand his reach beyond the BPO industry and explore new opportunities in process automation. He had a plan and he put it into action—he co-founded AntWorks! AntWorks: A start-up on the fast-track of automation. Within a few years of existence, AntWorks is transforming the business process landscape with its solutions across cognitive machine reading (CMR), robotic process automation (RPA), and cognitive process automation solutions. It offers the ‘only integrated, enterprise-level, intelligent automation platform— ANTsteinTM—that is powered by fractal science. Asheesh Mehra says, “We apply machine learning (ML) and natural language processing (NLP) to the front-end of a business process to ensure we obtain clean data to enable a seamless, automated process.” Tom Reuner, Senior Vice President, HfS Research says, “Antworks’ holistic approach to automation and the compelling vision makes them one of the most innovative providers in the market. The value proposition of linking the RPA capabilities with machine learning and that is including semi-structured content such as handwriting and forms as well as broader cognitive capabilities, including pattern recognition, even images, are going beyond what you see most in the market.” ANTsteinTM: From input to insight Built using fractal science that integrates ML, pattern recognition, adaptive learning, and deep learning, ANTsteinTM—the AntWorks platform—provides advanced operational and business analytics, cognitive decision-making capabilities, and advanced operational diagnostics. It is platform-agnostic and can be integrated to any enterprises’ core system. Today, ANTsteinTM caters to numerous industry segments. Several banks have successfully leveraged the platform to automate many processes including the Know Your Customer (KYC) process. A case in point showcases AntWorks’ capabilities AntWorks was engaged by a large Indian bank to automate its Know Your Customer (KYC) process that was data-intensive and comprised of a mix of data inputs. The solution had to read and extract multiple data formats like signatures, photographs, hand-written forms, and printed text from new account opening forms. It also had to transform the data using business rules and transport it into a government system for customers’ KYC approval request. AntWorks provided a comprehensive solution by using its multi-format, data ingestion platform for cognitive machine reading and its RPA module for querying and procuring approvals from the government site. Once the inputs were scanned and photographs were cropped to the government stipulated sizes, the data was uploaded to the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) portal by a single touch of a button. “We finished the process in less than an hour, resulting in an overall cost saving of 90 percent, 85-90 percent increase in productivity, and a shorter time-to-market with improved customer satisfaction,” says Mehra. In its short sprint in the automation space, AntWorks has also seen a lot of traction in the healthcare space including its usage by oncologists in cancer research. With sales presence in the US and the UK, the company plans to expand its footprint across North America and Europe. In the next year, AntWorks plans to introduce point solutions in accounting, airlines, education, telecom, and utility sectors. We apply machine learning (ML) and natural language processing (NLP) to the front-end of a business process to ensure we obtain clean data to enable a seamless, automated process In recent years, machine learning (ML) has become a key focus for all enterprises, right from mainstream platform providers to startups in their early days. With most mainstream providers competing amongst each other to make ML accessible to developers, the number of tools available to work with ML have effectively doubled. The momentum of ML will undoubtedly continue going forward into the coming years, as most industries working with large amounts of data have recognized the value of machine learning technology. ML-powered artificial intelligence (AI) systems in IT operations and DevOps will deliver more intelligence to organizations—enabling teams to perform root cause analysis accurately and precisely. Moreover, ML can also augment intrusion detection to enhance security around IT infrastructure—the potential uses of ML are virtually endless. With the ability to transform business processes and workflows, the heavy investment being made in this sector will guarantee ROI in the foreseeable future. With so much emphasis being put on machine learning, it is now the need of the hour for guidance for the successful implementation of ML solutions and services. This edition of CIO Applications brings you the "Top 25 Machine Learning Companies - 2018.” This list features some of the most prominent organizations in the industry that have excelled in their services and product portfolio in the machine learning space. This list is aimed at bridging the gap between businesses and solution providers that are transforming business processes.