ElectrifAi Announces MLaaS and SpendAi at AWS re:Invent 2021
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
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