Bengaluru, 1st August, 2017: Flatworld Solutions Inc, a US based company that has laid the foundation of being a provider of back office services for the last 15 years has signed a 'strategic partnership' with Quadratyx, a rapidly growing Data Science and Artificial Intelligence company with specific products and teams built to automate key back office functions that would not replace human capital but enhance the efficiency of people interacting with machines.
Flatworld Solutions Inc. along with its associate India company Flatworld Solutions Pvt Ltd has gained inroads into the global market with the experience of servicing customers including banks, universities, corporations etc, in over 100 countries. Till date, 14 unique services and over 9000 customers are leveraging the Flatworld advantage. Quadratyx on the other hand was founded by one of the pioneers of 'Artificial Intelligence and Machine Learning applications'. The power to complement, utilize and unionize strengths in the international market with vibrant ML (machine learning) and AI (artificial intelligence) leadership available right here in India, is what drew these two companies into a strategic partnership.
Jacob William, President and Group CEO, Flatworld Solutions said, "As a company practice, we begin by identifying customer problems that need resolving and then customize our platform and products for them accordingly; thus taking them on a transformational journey of becoming a data driven decision making organization. We identify where data resides, bring silos of data together, put them all together in lakes and then the magic happens of enabling our customers to see what they have never seen!"
"Some of the real life applications that this "strategic partnership" offers include providing intelligent solutions in crime prevention for cities, fraud detection for banks, bringing efficiency to the Insurance industry, reducing loan processing times for mortgage companies, image recognition for advertising companies, solving supply chain problems by using predictive models etc." he further added.
Dr. Sreerama Murthy - CEO & Chief Data Scientist, Quadratyx said "With this partnership, robotic process automation will no longer be a futuristic fantasy, but a present day reality. Moreover, re-tooling and re-skilling through Big Data and Data Science training will also become a reality to companies worldwide. This venture will also make applying 'artificial intelligence and machine learning applications' in the context of back office processing, possible."
About Flatworld Solutions Group
Flatworld Solutions (FWS) is a global corporation offering solutions in IT, Business Consulting and Outsourcing Services. Founded in 2002 and incorporated in 2006 with the single-minded purpose of using technology to equip and enable businesses build efficiency, negate global distances, save time and increase bottom lines worldwide, Flatworld has earned it stripes with a decade of satisfying experiences. Over 9000 customers and millions of dollars in increased client revenue, over 2000 efficient and enabled employees with a solution centric leadership all tell the story - A story of expanding possibilities.
Flatworld operates across geographies, with Associate company offices for sales across India, US and UK; coupled with delivery centers in India, Philippines, US, and UK. These offices provide strategic support and placement of personnel for customer enhancing solutions. Flatworld India is an ISO 9001-2008 accredited delivery provider that meets stringent global quality standards in all its service offerings.
About Quadratyx
Quadratyx can boast of more extensive experience in data sciences and analytics than most other companies in India. Their journey in Machine Learning started in 1991, and has been going on uninterrupted since, in a multitude of vertical domains.
They are a team of creative technologists that are passionate about data-centric intelligent solutions to problems that are all around us. They believe that the world has just started scratching the surface of artificial intelligence and data sciences, and that enormous unexplored potential exists for these technologies. They aspire to be at the forefront of such innovations and implementations of data-centric intelligence.
Quadratyx can help you make smarter and wiser decisions in important aspects of your business, by innovatively leveraging a variety of data assets.
Questions & Answers
1-What is the company’s plan in the big world of machine learning and artificial intelligence?
The software and IT enabled services industry is going to be transformed by Artificial Intelligence and Machine Learning, because many of the low cognitive tasks that are currently performed by human teams can be executed equally well, and sometimes better, by AI and ML algorithms. Such a transformation will be revolutionary not only for the industry and for its global clientele, but also for its work force. This is because more customers can be served by the existing employee base with better turnaround times and less errors. Existing employees will move up the value chain in terms of amount of revenue they contribute to the organization, their skills in handling high complexity cases, and also in the breadth of tasks they can handle. Flatworld Solutions and Quadratyx aim to be global leaders in this space of cognitive automation in the software and IT enabled services industry.
2-What is the company’s niche area of focus to address problems?
Flatworld Solutions offers a one-stop shop for technology services to global clients in chosen verticals. Quadratyx is an IP-centric services company in the space of AI, ML, big data & analytics. Our strategic collaboration will offer IP-centric, data science-enriched technology services to our global clients. We are uniquely positioned to add immediate new value through data science to clients whom we have been serving for years. Through cognitive process automation, unstructured data analytics, and deep machine learning, our partnership will create faster, better, cheaper, adaptive business processes in multiple verticals.
3-What is the scene in machine learning and artificial intelligence in India?
Like any other promising technology trend, Analytics, Big Data, AI and ML are being lapped up quickly by Indian software fraternity and fresh students alike. Tens of thousands of individuals are actively building and pursuing careers in these areas. Some industries in India are data-savvy and data-ready whereas others are far from it, so there is variable adoption, as expected. But the future promise is believed by one and all. In terms of innovation and new products / services in data science, other than a few IP-centric entities like Quadratyx, Indian organizations are generally lagging behind some entities in USA, Western Europe and Israel. However, the fraternity of scholars and data scientists leading this revolution worldwide has an enviable proportion of people of Indian origin.
4-How are MSME, SME faring in skill shortage scenario?
AI and ML is certainly demand-driven today rather than supply-driven. There is great competition for hiring good data scientists and big data professionals. In such a situation, it is hard for MSME and SME to compete for the best talent with the much more established entities. However, Quadratyx does not suffer from this difficulty at all fortunately, because from day one, we made training an important and integral part of our offerings. Not only do we actively contribute to the World’s 3rd-ranked big data and data science certification at INSOFE, but we have the internal skillsets to turn math-savvy fresh graduates into excellent data scientists. Quadratyx also has a wealth of proprietary digital courseware to train AI/ML professionals.
5-What has been company’s expansion plans?
Flat World and Quadratyx strategically partnered to grow our combined topline and bottom-line multi-fold, by expanding business with our current customers, with new customers in our current global geographies, and also in new geographies.
Strategic business relationships held by Jacob William- President and David Antony Global Sales – USA ensures a dovetail into existing Flatworld solutions customers worldwide. A key focus is on reducing cost arbitrage via Data science and building efficiency for Back office solutions that will also solve the Business acquisition puzzle.
Data Science/Automation Solutions in Mortgage, Insurance, Engineering, E-commerce industries etc are some of the key areas of focus the next FY.
6-How much has the company invested and which are the target sectors in India?
We are not restricted to specific sectors in India, even though we have built enviable client relationships in Banking and Financial Services, in Retail and E-Commerce, and in the Pharmaceutical industry. By designing a strategic partnership that involves not only substantial financial investment, but also a tactical sales commitment plus strategic creation and co-ownership of new entities, Flatworld Solutions and Quadratyx plan to have broad and deep wins in the global AI/ML-based services market. Investment details are unavailable, as both companies are privately owned, hence not obligated to disclose this information.
7-What is the future possibilities of establishing joint ventures in India?
AI & ML applications usually tend to be sector-specific, as they are knowledge and data centric. As the Flat World – Quadratyx partnership is producing, and will continue to produce, multiple novel AI & ML applications, we certainly envisage the possibility of spawning new product-specific / sector-specific AI/ML entities not just in India but globally.
8-Could you share about the company’s clients or acquisitions plan in India?
The company has served prestigious organizations in India, such as the State Bank of India, Bank of Baroda, HDFC Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, Cibil, NPCI, Mahindra Finance, Edelweiss, Micromax, Shop Clues, Murugappa Group, Team HGS, Dr. Reddy’s Labs, Novartis, Insofe, Winit and AT&T. Most of our client relations are ongoing and expanding.
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