TredenceAn organization that gives AI and data evaluation is quickly becoming more necessary GenAI-as-a-Service platformThis signals a shift in the best way corporations approach the adoption of generative AI. The platform goals to democratize access to generative AI technologies and help corporations overcome the challenges related to developing and deploying generative AI solutions at scale.
The platform emerges at an important time for the enterprise AI market, as corporations are expected to extend their Gen AI budgets by 3.4x, in keeping with a current report from IBMHowever, many organizations struggle with the complexity, cost, and ethical considerations related to adopting generative AI. Tredence's generative AI-as-a-service platform seeks to deal with these pain points by providing a comprehensive suite of tools and services designed to streamline the end-to-end Gen AI development and deployment process.
“Our Gen AI-as-a-Service platform enables corporations to speed up their AI transformation journey and achieve transformative results,” said Shub Bhowmick, CEO and co-founder of Tredence, in an exclusive interview with VentureBeat. “By leveraging our platform, the CPG company has reduced solution development costs by 40% and operational costs by 25%, demonstrating the numerous added value of our platform.”
A comprehensive approach to introducing AI into enterprises
The Gen-AI-as-a-Service platform offers a variety of features including the supply of end-to-end Gen AI solutions, optimization of LLM (Large Language Model) infrastructure, accelerator for the creation of LLM models and responsible AI governance. These features are designed to assist corporations navigate the complexities of adopting genetic AI, from data integration and model development to moral considerations and price optimization.
“Our platform includes tools and features to implement and measure responsible AI principles, ensuring the fairness, transparency and accountability of Gen AI solutions,” explained Bhowmick. “We recognize that the rapid advancement of generative AI has raised concerns about potential misuse and unintended consequences, and we’re committed to helping our customers use these technologies in an ethical and responsible manner.”
Tredence's approach to introducing AI into enterprises goes beyond the Gen-AI-as-a-Service platform. The company has a proven track record of helping customers across multiple industries, including retail, CPG, banking and financial services, and healthcare, modernize their data infrastructure and deliver AI-driven solutions. By combining its deep industry expertise with cutting-edge AI technologies, Tredence has delivered significant business value to its customers.
“We work with customers across industries to assist them migrate and modernize their data and deploy prescriptive and generative AI solutions of their businesses,” said Bhowmick. “Examples of our impact include reducing shrink by $15 million at a big convenience store chain, improving forecast accuracy by 10% at a Fortune 100 consumer goods company, and generating $13 million in recent revenue “Dollars for the world’s largest hotel chain by understanding post-pandemic travel.”
Driving innovation through strategic partnerships
Tredence's success is due partially to its strategic partnerships with leading technology corporations equivalent to Databricks, Azure and Google Cloud Platform. These collaborations have enabled Tredence to jointly develop greater than 20 industry solutions which were widely adopted by customers, spanning demand forecasting, personalization, supply chain modernization, sales growth management, shelf availability and value-based care.
The company has also secured significant funding, raising $205 million in two rounds, with investments from Chicago Pacific Founders and Advent International. This funding has enabled Tredence to expand its global presence, acquire recent expertise and invest heavily in research and development.
Outlook: Growth, acquisitions and an IPO
Looking forward, Tredence plans to proceed its strong growth trajectory by pursuing a targeted acquisition strategy and exploring the potential for an IPO. The company also goals to advance the adoption of its ATOM.AI platform and accelerators, which have been instrumental in helping customers solve complex business problems by integrating data, cloud and AI solutions.
To support its commitment to moral AI practices, Tredence has established a Genetic AI Center to offer guidance, use cases and skills development. This initiative underscores the corporate's commitment to driving positive change within the industry and ensuring the advantages of generative AI are used responsibly.
As demand for generative AI solutions continues to grow, Tredence is well positioned to capitalize on this trend. With its modern Gen-AI-as-a-Service platform, strategic partnerships and commitment to moral AI practices, Tredence is poised to develop into a serious player within the enterprise AI market and help corporations realize their full potential of generative AI while navigating the complexities and challenges related to its adoption.
