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Data Science solutions company Tredence announced the launch of Atom.AI, an intelligently engineered platform that uses AI to accelerate data and analytics modernization for retailers and consumer goods companies at the retail industry show by the National Retail Federation (NRF).
Atom.AI claims to transform data by reducing the time to value by 50%. The platform achieves this through its AI, ML capabilities, pre-built feature store, technical notebooks, deep data sets and third-party integrations.
Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey with the aim of bridging the gap between insight delivery and value realisation by providing clients with a differentiated approach to data and analytics through specialised solutions, Tredence announced last month that Advent International had invested $175 million in a Series B financing round.
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Atom.AI includes pre-built AI solutions in revenue growth management, route-to-market, supply chain, shopper analytics, and sustainability, which are intended to help retailers achieve results faster.
According to Morgan Seybert, the chief business officer of Retail at Tredence, the company powers $1 trillion in revenue by guiding data strategies and AI-based decisions for six of the top 10 largest retailers in the world. Atom.AI, which is backed by the Databricks Lakehouse platform and claims to speed up the development and implementation of AI applications focused on retail and CPG, will be officially unveiled by Tredence at NRF.
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Atom.AI is based on five modules that streamline each process of developing and deploying an AI solution.
- Data Works– To synchronise internal and external data and create a comprehensive feature repository.
- Algo Works – To expedite ML models’ creation and enhance algorithm performance.
- UI/UX Works- For rapid application design using pre-built UI/UX templates.
- Solution Works- To create pre-built AI, and ML solutions for various sectors.
- Automation works– To integrate, orchestrate, provision, deploy, and scale AI
Companies in many sectors are looking into how to integrate AI into their essential operational procedures. However, according to Soumendra Mohanty, chief strategy officer at Tredence, just 53% of AI ideas make it from the prototype to production.
Tredence revealed its new brand identity and marketing strategy, Beyond Possible, last year. The change reflects the company’s new go-to-market approach and a renewed commitment to offering data science solutions and technologies tailored to certain vertical markets. The organization is dedicated to assisting large-scale transformation while also providing “speed to action,” “speed to scale,” and “speed to value” for its clients around the world. Tredence informed AIM that it opened offices in Chennai and Delhi in addition to moving to a larger facility in Bengaluru. The company said that it has seen a 100% increase in revenue. In an exclusive interview with AIM, Dubey claimed that his company would have 2000 staff within the next six months, if not earlier.