PLATFORM

The power of AI and why it’ll always be here to stay

by Marc Almagro
20 May 2020

Pattern-recognition and fractal science principles support AntWorks’ powerful platform for processing business information, as told by Founder and Group CEO Mr. Asheesh Mehra.

As a global artificial intelligence (AI) and intelligent automation (IA) company, AntWorks creates new possibilities with data through digitization, automation, and enterprise intelligence.

“In short, we offer solutions that are powered by fractal science principles and pattern recognition to process all types of data to improve the efficiency of business processes end-to-end,” explains Founder and Group CEO Mr. Asheesh Mehra. 

By business processes, he refers to a range of transactions, from processing a claim, an invoice, a mortgage or a title search — vital tasks that ensure the success of any business that also exert huge pressure on its resources.

“We revolutionized the industry,” Mr. Mehra claims, “by being the first to offer a multitenancy solution powered by fractal science that allows for maximum bot utilization, understands all types of data, and provides customers with a one-stop solution for data curation and building, and deploying and managing an AI-enabled smart digital workforce.” 

  • ADDRESSING EVERY DATA
  • GLOBAL IMPACT
  • GROWTH PATTERN

Addressing every data

At the core of AntWorks’ business is the platform called ANTstein SQUARE. According to Mr. Mehra, “it is the first and only Integrated Automation Platform (IAP) powered by fractal science principles and pattern recognition.”

This means that the platform understands every data type that businesses work with, whether structured or unstructured. It addresses every data type by curating, transporting, and using Machine Learning (ML) simultaneously to provide enterprises with a seamless automation journey.

Global market intelligence provider IDC says that 80 percent of the world’s data will be unstructured by 2025, Mr. Mehra points out. “Hence, the platform helps businesses make the best use of the various forms of unstructured data, which accounts for the majority of data available today.”

AntWorks does business across the full spectrum of vertical sectors. “Our technology toolset is industry agnostic,” Mr. Mehra emphasizes. “Our clientele consists of enterprises from the banking, financial services, insurance, mortgage, telecom, retail, legal, education, transport, and logistics, as well as the government sector.”

It is common for government organizations, he cites, to be mandated towards much older and more established vendors. “Despite being a relatively young company, we’ve secured the trust with these government organizations and are working closely with them; we anticipate this sector to grow with us as the brand matures.”

Mr. Mehra cites the way that AntWorks worked with one of their customers, Scoot, which was facing the challenge of improving its invoicing process. Scoot typically receives over 2,000 invoices a month, each comprising 100 to 200 pages, he says.

“They were in search of a method to boost the efficiency of their invoicing process, while reducing the risk of human error. We tackled their problem statement by introducing to them our ANTstein platform.”

Powered by Cognitive Machine Reading (CMR), AI, ML, and pattern recognition, ANTstein was able to achieve approximately 85 percent accuracy in conversation rate when integrated with Scoot’s existing Business Process Management (BCM).

“Additionally, Scoot has since realized a 33 percent reduction in invoice processing time, with the total effort to create a bill on their finance system reduced by half.”

  • ADDRESSING EVERY DATA
  • GLOBAL IMPACT
  • GROWTH PATTERN

Global impact

Since AntWorks was founded in 2015, it has expanded its global headcount exponentially, from 58 to over 577 employees. This is testament to the company’s ambitions to fast forward its plans to revolutionize the Robotic Processing Automation (RPA) and the automations industry, says Mr. Mehra.

“In a short space of time, we have already made a global impact in the AI and RPA space, often being benchmarked against competitors who have been in the space far longer than we have.” 

Its global client footprint is based in three broad areas: North and South America, Europe and the Middle East, and Asia Pacific. North and South America makes about 45 percent of the business, followed by Asia Pacific, with EMEA being ramped up currently.

“This reflects our hunger for growth as we have managed to expand globally and have already opened new offices in Bangalore, Mumbai, London, and Singapore. What’s more, there are already on-going plans to open new offices in Germany, France, Sweden, Dubai, Japan, the Philippines and Australia.” 

  • ADDRESSING EVERY DATA
  • GLOBAL IMPACT
  • GROWTH PATTERN

Growth pattern

AntWorks has achieved a number of milestones in a span of five years. “We launched ANTstein SQUARE solution, our newest version of AntWorks’ original IAP.” The version has a user-friendly interface, a code-free RPA environment, intuitive ML, and Natural Language Modelling (NLM) capabilities.

“This platform is the first of its kind and will transform companies across the globe that deal with vast amounts of unstructured data,” Mr. Mehra claims. “In August 2018, we announced our Series A funding round in which we secured a $15-million investment from SBI Investment Co.”

This has provided AntWorks with the impetus for further growth in its business operations including Artificial Intelligence & Enterprise RPA, Research & Development, and Marketing and Sales. It also energizes AntWorks’ foray into newer markets.

AntWorks plans to stay two, if not three steps ahead of the competition and the rest of the automation landscape, Mr. Mehra shares.

“We had a great head-start by recognizing early in the game that Integrated Automation was always going to be an essential piece of the puzzle. Skipping the stage of building only traditional standalone RPA gave us a distinct advantage over our competitors. Now it’s our job to stay on top by constantly upgrading the platform and its capabilities.”