Quantia will bring total global investment in AI R&D to over $250 million by 2027



AI in context: How Quantexa augments and automates decision intelligence with AI

AI in context: How Quantexa augments and automates decision intelligence with AI

AI in context: How Quantexa augments and automates decision intelligence with AI

Quantexa CEO outlines vision for investment in support of UK Government’s plan to make the UK an AI hub, which includes:

  • Over $155 Million in New Global Investments to Accelerate Ability of Enterprises and Government Agencies to Use Trusted AI-Enabled Decision Intelligence Solutions

  • Over $105 million of dedicated investment in the UK will do this create over 170 new jobs within the London AI Innovation Center team

  • Generative AI assistant preview shows how world’s leading institutions will unlock the full potential of data to investigate risks and identify opportunities

LONDON & NEW YORK, July 10, 2023 (GLOBE NEWSWIRE) — Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sector, today announced it will invest more than $155 million in global artificial intelligence (AI ) over the next three years to help clients advance the use of AI to protect, optimize and grow their organizations. By 2027, Quantexa’s total global investment in AI will reach more than $250 million.

The investment marks Quantexas’ continued advances in AI with the preview of its generative AI technology, Q Assist. Quantexa also strengthened its commitment to advance the company’s existing AI stack to enable its growing global ecosystem of customers and partners to unlock new industry-specific use cases for financial services, insurance, telecommunications, healthcare and in the public sector. The Quantexas Decision Intelligence platform and suite of solutions for data management, customer intelligence, KYC, risk, fraud and financial crime have been deployed in over 70 countries.

Analysis from the University of Washington suggests this investment will grow the global AI industry by $760 million as the multiplier effect unfolds.

AI in context: How Quantexa augments and automates decision intelligence with AI

AI in context: How Quantexa augments and automates decision intelligence with AI

AI in context: How Quantexa augments and automates decision intelligence with AI

The generative AI assistant breaks new ground
Powered by the Quantexas Decision Intelligence Platform, the technology preview of Q Assist, a generative AI assistant, demonstrates the potential of using LLM to create an intuitive, conversational interface that delivers new efficiencies for analysts working with data to identify risks as part of investigations. For organizations, the potential benefit is significant as the AI ‚Äč‚Äčassistant enables all analyst staff to become as effective as the most experienced investigators.

Q Assist is independent of the LLM and will allow clients to use their own proprietary, open source or commercially available templates including ChatGPTTM extension, a leading OpenAI LLM. Quantexas market leader in entity resolution, chart analysis and scoring capabilities go turbocharged when they can be queried with natural language questions and suggestions in the Quantexas decision intelligence platform.

In a video showcase today, Quantexa demonstrated one of what could become many potential use cases for Q Assist. The financial crime investigation scenario was chosen to show the potential of using natural language to query large amounts of structured and unstructured data at scale, allowing even novice analysts to understand the complex data behind the analysis graphics and alerts. The preview also showed the ability to automate the generation of Suspicious Activity Reports (SARs) and investigative summaries, possible in nearly 100 languages, driving further efficiency in what is typically a manually intensive process and allowing you to spend more time for strategic activities.

Artificial intelligence throughout the Quantexas decision intelligence platform delivers value to the business
Enterprises and government agencies are using Quantexas Decision Intelligence to become more effective and efficient at organizing siled and cluttered data to obtain 360-degree views of customers and suppliers to identify fraud, qualify for service, block dangerous goods at borders or optimize supply chains.

Quantexa is using three core principles to responsibly develop its AI stack:

  • Context Based Learning: Just as humans require full context to make informed decisions, so does AI. Without context, even the smartest machine learning or deep learning algorithms lack the accuracy to be implemented reliably. For example, it is impossible for a person or an AI model to know whether a single, isolated bank transaction is money laundering. Quantexa builds true context by using data to create single views of people, organizations, places and other entities and visually assembles them to show complex entity interactions. This context is what allows a person or AI to make an accurate decision.

  • Composite AI: Quantexas Composite AI Stack aggregates the output of many different techniques, including machine learning, natural language processing, and deep learning. By combining these with input from subject matter experts, organizations can continuously use analytics to improve decision-making to protect, optimize and grow. Quantexa uses unique access to massive volumes of structured and unstructured industry data to train its AI and provides open, out-of-the-box models, giving customers the ability to edit or create their own.

  • Explainability and trust: In the highly regulated environments in which organizations work, it is crucial that decisions are transparent and explainable without suggesting bias. Quantexas technology and governance uses context-driven techniques and composite AI to drive adoption of explainable outcomes without privacy concerns. Quantexa publicly maintains its AI ethics and safety guidelines here.

Vishal Marria, CEO and Founder, Quantexa said:
While many companies talk about artificial intelligence and machine learning, we’ve invested in it from the beginning. We are investing time, money and resources in the biggest technological breakthrough in generations, as it will transform the way organizations make decisions. We are proud to invest in London-based innovation, but the impact will be felt by the global economy and start a ripple effect that will unlock decision intelligence capabilities for our clients and their respective industries.

Dr. Oren EtzioniProfessor at the University of Washington Computer Science and founding CEO of the Allen Institute for AI She said: An investment of 100 jobs in AI will drive economic growth not just in London but around the world. The places most likely to benefit are AI innovation hubs like New York City, Seattle, and San Francisco. Based on my research on the impact of AI on jobs and economic growth, the long-term monetary benefits of this announcement will increase significantly due to the multiplier effect of job creation and innovation. An initial investment From $250 million AND probably benefit the broader AI sector of roughly $750M globally within three years.

To learn more about how your organization can benefit from Quantexas AI investments, innovation and ethical practices, visit here.

About Quantixa
Quantexa is a global data and analytics software company that pioneered decision intelligence that enables organizations to make reliable operational decisions by making data meaningful. Using the latest advances in big data and artificial intelligence, the Quantexas Decision Intelligence platform uncovers hidden risks and new opportunities by providing a connected, contextual view of internal and external data in one place. It solves the main challenges related to data management, KYC, customer intelligence, financial crime, risk, fraud and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform improves operational performance with over 90% greater accuracy and 60x faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 650 employees and thousands of users working with billions of transactions and data points worldwide. The company has offices in London, New York, Boston, Toronto, Malaga, Brussels, Amsterdam, Ireland, Luxembourg, Singapore, Melbourne, Sydney and the United Arab Emirates. For more information, visit www.quantexa.com or follow us on LinkedIn.

Media Inquiries
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AND: Quantexa@fightflight.co.uk

C: Adam Jaffe, senior vice president of corporate marketing
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AND: adamjaffe@quantexa.com
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