PR93337

JERSEY CITY, N.J., Nov. 30, 2021 /PRNewswire=KYODO JBN/ --

-- Delivering fast and reliable machine learning business solutions.

ElectrifAi, one of the world's leading companies in practical artificial

intelligence (AI) and pre-built machine learning (ML) models, today announced

availability of both Machine Learning as a Service (MLaaS) and SpendAi on

Amazon Web Services (AWS). ElectrifAi made the announcement at AWS re:Invent

2021 in Las Vegas.

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With MLaaS, now all companies in many verticals can quickly harness the power

of machine learning and turn their data into a strategic advantage to drive

revenue as well as to reduce cost and risk. Clients can easily get started with

machine learning and pre-built models without the expense and time-consuming

efforts of installing and purchasing platforms, assembling teams, or providing

their own servers. With MLaaS available through AWS, the client's data operates

directly on AWS cloud servers and MLaaS increases the efficiency and

convenience of machine learning on the cloud.

By using MLaaS, clients can quickly achieve many benefits to improve their

operations and capabilities. Some of those benefits include:

    -- lower costs, as provisioning one pre-structured model can be cheaper

       than the annual cost of a single data scientist;

    -- faster time-to-deployment and lower project risk, as the average

       deployment of a pre-built model is between 8-12 weeks for MLaaS versus

       8-12 months to build new machine learning models; and

    -- faster time-to-value with a high return on investment (ROI).

One of ElectrifAi's highly successful MLaaS offerings is SpendAi, a deep spend

analytics product. Now available on AWS, SpendAi can help procurement

professionals quickly solve business problems with more accurate data to help

eliminate cost and risk. Some of the benefits of SpendAi include:

    -- superior visibility across multiple sources of data,

    -- higher quality sources of spend data,

    -- better degrees of classification, categorization and grouping,

    -- greater flexibility, and

    -- elimination of maverick spend.

SpendAi has been proven to reduce indirect spend by 2-4% in 6-8 weeks

generating substantial savings and ROI for clients.

Other pre-built models offered by ElectrifAi as MLaaS include customer

segmentation, product cross sell and up sell, demand forecasting, dynamic

pricing, credit decisioning, computer vision and many others.

"We're pleased to introduce our MLaaS and SpendAi offerings on AWS. Today, more

than ever, executives are seeking to use data to optimize their businesses.

Data is the last untapped asset and companies are demanding time-to-value and

high ROI to drive revenue and cost reduction. With MLaaS and SpendAi, all

companies (large and small) can now easily and quickly achieve the benefits of

machine learning and pre-built models. ElectrifAi is helping companies across

the globe grow and become more competitive through data-driven business

decisions and we are taking the friction and complexity out of machine learning

and computer vision." – Edward Scott, CEO, ElectrifAi

About ElectrifAi

ElectrifAi is a global leader in business-ready machine learning and computer

vision models. ElectrifAi's mission is to help organizations change the way

they work through machine learning and computer vision: quickly driving revenue

and performance uplift, as well as cost and risk reduction. Founded in 2004,

ElectrifAi boasts seasoned industry leadership, a global team of domain

experts, and a proven record of transforming structured and unstructured data

at scale. ElectrifAi's large library of Ai-based products reaches across

business functions, data systems, and teams to drive superior results in record

time. ElectrifAi has approximately 200 data scientists, software engineers and

employees with a proven record of dealing with over 2,000 customer

implementations, mostly for Fortune 500 companies. At the heart of ElectrifAi's

mission is a commitment to making Ai, machine learning and computer vision more

understandable, practical and profitable for businesses and industries across

the globe. ElectrifAi is a global company with offices in Miami, Jersey City,

Shanghai and New Delhi.

SOURCE ElectrifAi

CONTACT: Matthew Brakora, +12487652634, mbrakora@electrifai.net