The evolution of computing involved numerous changes and groundbreaking upgrades to optimize the computing experience to what it is today. It all started with hardware that had giant machines consuming lots of resources and offering only basic calculations. These machines were then backed up by software programs and the internet, and the era of modern computing took off thereafter. We are in the midst of a digital revolution. Data is the new natural resource of the world
A cognitive organization is one that connects diverse types of data, changes the way people and stakeholders interact with the data and allows each member of the organization to access information that is relevant to their work, in order to answer the most complex business questions, uncover patterns or emerging trends and seek breakthrough ideas that will change their business for the better. The modern generation of computing has inculcated Artificial Intelligence. Demand for AI is growing and many companies are looking for providers to meet their needs.
One such company that entwines artificial intelligence with its enterprise clients’ IT infrastructure is BlackSwan Technologies. It is a Big Data, cognitive computing and artificial intelligence Product Company, which provides large enterprises with a powerful AI Operating System. This enables enterprises to independently develop any solution to from mitigating risk to generate new business while digitalizing legacy practices, enhance efficiencies and create new opportunities
BlackSwan Technologies is revolutionizing the data acquisition and monetization market with its breakthrough product, ELEMENT. The software enables enterprises to acquire, own, control, manage and personalize their data assets, thereby drastically changing the way enterprises monetize data assets either internally, externally and combined. ELEMENT proactively collects, extract infers, connects unrelated entities and events, resolves entities while building unprecedented knowledge graphs, recommendations and actionable insights.
With ELEMENT, enterprises can independently build all types of applications, combining internal and external information to reduce risks and errors, eliminate waste, increase downstream/upstream operations visibility, improve accountability and compliance.
Vision of the Torchbearer
Michael Ouliel, the CEO of BlackSwan Technologies, had a vision to enable the “Intelligence of everything” through the company. His idea was to introduce the power of intelligence to data-intensive enterprises. His continuous interactions with cutting-edge technologies and methodologies helped him realize that a technological evolution was shaping up in the world of cognitive computing.
Michael is an expert in intelligence, and technology sectors for more than 20 years. Prior to BlackSwan, he was the founder and CEO of Ripples HLS Group, and a Senior Strategic Advisor to Oracle Corp in the areas of Intelligence, National/Homeland and Cyber Security
One Company One Solution
BlackSwan technologies believe that it is better to analyze the root of all challenges than focus on one specific challenge. And the root here was the underutilization of data. The company discovered that it becomes complicated for enterprises to assign multiple vendors for multiple solutions. This leads to multiple software licenses, multiple proprietary data models, high operational costs and miscommunication. BlackSwan Technologies’ ELEMENT offers a paradigm shift, by addressing the entire data lifecycle, and can either complement existing assets, augment available infrastructure or replace them altogether.
Element of Customer Satisfaction
BlackSwan delivers solutions in various areas from reduction of risk and costs to better customer experience and new business opportunity identification. One of its customers, a top class global bank boasts a compliance cost of 7% of total expenditure which is not unusual in the current environment. ELEMENT managed the entire compliance process and delivered 50% reduction in operational costs with doubled analyst’s productivity.
ELEMENT has also helped a Top 5 global insurer by manifesting itself as an end to end Cyber underwriting platform for acquisition of customers, risk analysis, personalization and ongoing risk modeling based on the collection of unbiased data residing outside of the organization. The customer now controls 35% of the cyber insurance global market.
Challenges from Technology
One of the challenges in technology is to effectively implement it and derive value from the same. There are other challenges as well, such as business data still residing within a hodgepodge of internal and external sources that rely on a mix of cloud and on-premise systems, in multiple formats, languages, and values. BlackSwan Technologies solution effectively addresses the above. Key underlying technologies are integrated in one single schemaless platform, that takes care of everything from data acquisition to the creation of relevant insights, but also the must have enterprise operational capacities such as case management, BPM, BRA, Score engine, etc. allowing for the rapid creation of applications that encapsulates full scope of business needs across the customer lifecycle, specifically tailored for one’s business.
Stand Out and Deliver
There are numerous benefits that differentiate BlackSwan Technology from the competition. First and foremost, ELEMENT is a readymade ‘of the shelve’ product combines technologies, best practices and knowledge, to cover the entire data life cycle, from acquisition, through interpretation and prediction, to deliver immediate operational benefits. Ease of use is at the core of company’s solution with strong focus on ensuring intuitive navigation and ability to quickly get the desired results, problem-free. ELEMENT is a complete White Box allowing its customers access and ownership on every step, process, technology and algorithm inside the system.
In addition, while the massive excitement about AI and data science in the market ELEMENT is also offers strong wide and deep enterprise capabilities. Tools such as Case Management, BPM, Score Engine and Questioner builder are well embedded thus giving the enterprise the experience he is so familiar with empowered by 22nd century technology.
But the most impressive fact is that any enterprise can self-build a PoV within 12 weeks and having any production ready enterprise level application in 5 months. Blackswan Technologies is really offering the ‘Intelligence of Everything’
Future of AI-based Computing
The company is set to deliver the following:
- Extended production agreements with landmark names in the Financial Services Industry.
- release the product for wide and global usage via its community license scheme
- Working round the clock on completely disrupting the way data is acquired and consumed.
- Democratization of Data acquisition and Artificial Intelligence