AI Programme Start-up E42 Secures $5.4 Million from Pavestone Venture
Light Information Systems, a Natural Language Processing AI workforce incubator, has secured $5.4 million in a Series An investment headed by Pavestone Ventures. E42, the start-up's no-code AI platform, enables firms to automate normally time-consuming and resource-intensive activities.
Enterprise clients of Light Information Systems may construct and customise "AI Co-workers" to undertake a wide range of tasks, from customer care and human resources to corporate analytics and intelligence collection.
Clients of the start-up range in industries and sizes, from SMEs to Fortune 500 corporations.
Animesh Samuel and Sanjeev Menon founded the Pune-based firm in 2012 to assist clients automate people-centric processes by utilising E42's human-like cognition and natural language processing, which took over 150 person-years to create.
The firm presently employs roughly 40 people, 35 of them are engineers. E42 intends to double that number to 80 by the end of the year, using the funds generated to accelerate expansion and adoption.
CEO Animesh Samuel spoke on the platform's adaptability and use cases, “We are a horizontal no-code platform. Our partners and end customers can customise our product using their subject matter expertise”.
Samuel further said, “For example, our clients in the pharmaceutical industry keep track of any kinds of negative reports on any of their molecules, for pharmacovigilance using our platform”.
During the first four years of the company, it released "Pooch," an SMS-based answering service that processed and answered inquiries automatically. This wasn't simply a test of the system; it was also a low-cost way to crowdfund user-generated content that could be used to train the platform's algorithm.
Google's Dialogflow — a natural language 'understanding' platform that can be implemented into a variety of user interfaces — and IBM's Watson – a natural language question-answering system — are E42's main competitors. The Indian Artificial Intelligence market is estimated to develop at a CAGR of 20.2% to $7.8 billion by 2025.
Artificial intelligence, according to the World Economic Forum, will create more employment than it will eliminate. Nearly 97 million jobs, such as Data Analysts, AI and ML professionals, will be created to replace the 85 million positions that would be lost, such as data entry clerks, administrative and executive security and others.
Enterprise clients of Light Information Systems may construct and customise "AI Co-workers" to undertake a wide range of tasks, from customer care and human resources to corporate analytics and intelligence collection.
Clients of the start-up range in industries and sizes, from SMEs to Fortune 500 corporations.
Animesh Samuel and Sanjeev Menon founded the Pune-based firm in 2012 to assist clients automate people-centric processes by utilising E42's human-like cognition and natural language processing, which took over 150 person-years to create.
The firm presently employs roughly 40 people, 35 of them are engineers. E42 intends to double that number to 80 by the end of the year, using the funds generated to accelerate expansion and adoption.
CEO Animesh Samuel spoke on the platform's adaptability and use cases, “We are a horizontal no-code platform. Our partners and end customers can customise our product using their subject matter expertise”.
Samuel further said, “For example, our clients in the pharmaceutical industry keep track of any kinds of negative reports on any of their molecules, for pharmacovigilance using our platform”.
During the first four years of the company, it released "Pooch," an SMS-based answering service that processed and answered inquiries automatically. This wasn't simply a test of the system; it was also a low-cost way to crowdfund user-generated content that could be used to train the platform's algorithm.
Google's Dialogflow — a natural language 'understanding' platform that can be implemented into a variety of user interfaces — and IBM's Watson – a natural language question-answering system — are E42's main competitors. The Indian Artificial Intelligence market is estimated to develop at a CAGR of 20.2% to $7.8 billion by 2025.
Artificial intelligence, according to the World Economic Forum, will create more employment than it will eliminate. Nearly 97 million jobs, such as Data Analysts, AI and ML professionals, will be created to replace the 85 million positions that would be lost, such as data entry clerks, administrative and executive security and others.
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