CTE announces new client in AI as a Service

 In 2017, Press Releases

Bengaluru, August 22, 2017 : Cambridge Technology Enterprises Limited (CTE) (NSE: CTE; BSE: 532801), today announced the acquisition of a new client in AI as a Service (AIaaS). Based in North America, the client has a strong focus on the BFSI vertical. Under the AIaaS model, CTE benefits from receiving a share in the incremental revenues of its client’s business by deploying its proprietary algorithms, differentiating CTE from industry peers.

The solution is aimed at optimizing the client conversion ratio in one of the key lines of businesses of the client by employing a systematic, automated and statistically sound methodology to optimally formulate offers. The solution employs a number of state of the art algorithmic techniques such as contextual multi-armed bandits, and using techniques in the emerging subfield of counterfactual machine learning.

CTE will also own additional IP along with the rights to resell and adapt the IP in Australia, Europe and Asia-Pacific Regions. Along with a management fee, CTE will be eligible to receive substantial share in the incremental growth in the net revenues of the client derived from CTE’s algorithm.

CTE’s broader engagement will help the client in solving a variety of business problems and optimizing their existing processes, a few of which are listed below:
• Deploy cutting edge approaches in AI/ML in the area of contextual multi-armed bandits enabling the system to adapt to changing environment.
• Efficiently ask what-if questions using methods of counterfactual machine learning.
• Leverage AIaaS model for continuous improvements and refinement to the optimization algorithms by deploying the latest research and improvements in the field of AI/ML.
• Access to data scientists, researchers and statisticians with a focus on helping customers address their Data Science problems.
• The application of such a framework can be adapted to other parts of client’s businesses helping to drive a unified scientific framework across the whole business.

In acknowledgement of the achievement, Aashish Kalra, Chairman of CTE, said, “AI can make immediate contributions towards critical business decisions leading to increased profitability for the organizations. Through the AIaaS model, we enable businesses unlock the value of their data by bringing together unparalleled access to cutting-edge technology and expertise in building solutions for some of the world’s largest and most innovative enterprises. We are excited to partner with enterprises on cutting edge technologies, provide superior value and more effective service on revenue generating IPs.”

About Cambridge Technology Enterprises
Cambridge Technology Enterprises (CTE) is a leading global technology company transforming organizations into “AI-first” leaders. CTE is enabling its customers to create AI solutions that transform their businesses; by helping solve the world’s complex and most interesting business challenges with AI. CTE gives organizations unparalleled access to cutting-edge technology by bringing together the best-in-industry using its years of expertise in building solutions for some of the world’s largest and most innovative enterprises; leveraging Big Data, Cloud & Machine Learning experience. CTE’s products and services address all the transformational AI needs of an organization — from strategic workshops to implementation of transformative business solutions through its AI as a Service (AIaaS). CTE’s expertise across multiple domains makes it the preferred choice for organizations seeking an AI Partner to innovate and leapfrog the market. CTE is assessed at Maturity Level 5 for CMMI v1.3 with ISO 9001:2008, ISO 27001:2005 certifications. For more information, visit www.ctepl.com or follow cam_technology on twitter.

Forward-looking and Cautionary Statements:
Certain statements in this press release may contain statements concerning our future growth prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this press release. The Company assumes no obligation to update any forward-looking information contained in this press release. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Company and the Company is not responsible for such third party statements and projections.

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