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With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market

YourStoryYourStory ยท 1y ago
With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market
Medial

Ema, an enterprise AI solutions provider, has raised $25 million in funding from investors including Accel, Section 32, and Prosus Ventures. The startup offers solutions for automating tasks such as chatbots, code generation, and design processes, aiming to streamline operations, reduce costs, and accelerate development. Ema recently launched its Universal AI Employee, which the company says will transform how enterprises work. The co-founders' impressive backgrounds and the projected market growth for generative AI in enterprises make Ema an attractive investment opportunity. However, the market is competitive, with numerous Gen AI startups vying for attention.

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Generative AI startup Ema raises $25 Mn from Accel, Prosus, others

EntrackrEntrackr ยท 1y ago
Generative AI startup Ema raises $25 Mn from Accel, Prosus, others
Medial

Generative AI startup Ema has raised $25 million in its first funding round led by Accel, Section 32, and Prosus Ventures. Other investors who participated in the round are Wipro Ventures, Venture Highway, AME Cloud Ventures, Frontier Ventures, Maum Group, and Firebolt Ventures. High profile angels who joined the round include Meta COO Sheryl Sandberg, Yahoo co-founder Jerry Yang and Snowflake chief executive Sridhar Ramaswamy. Ema will use the funds for research and development, and enhance its existing product suits, the company said in a press release. Founded in 2023 by Surojit Chatterjee, Souvik Sen, and Swati Trehan, Emaโ€™s AI solutions aim to automate processes and workflows within an enterprise. The solutions work with Zendesk, OneDrive, Google Drive, Teams, Slack, and other popular productivity tools. Ema is said to be capable of engaging in conversations, comprehending context, taking continuous human feedback, reasoning, and making informed decisions. It leverages about 30 large public language models, including GPT 4, GPT-3.5-turbo, Claude 2.1, Gemini, Mistral-S and Llama2, and small in-house language models to maintain accuracy. Emaโ€™s adaptable AI capabilities cater to a wide array of industries, including healthcare, retail, travel, hospitality, finance, manufacturing, e-commerce, technology, and more. At present, Ema has a total workforce of 30 across India and the US. Ema has scooped up the second largest funding for an early-stage startup operating in this space and has a base in India. In December 2023, generative AI startup Sarvam AI raised $41 million in a Series A round led by Lightspeed along with participation of Peak XV Partners and Khosla Ventures.

Cognizant, Nvidia tap generative AI to boost drug discoveries

Economic TimesEconomic Times ยท 1y ago
Cognizant, Nvidia tap generative AI to boost drug discoveries
Medial

Cognizant, a global IT services and consulting company, is utilizing generative AI (gen AI) technology in collaboration with Nvidia's BioNeMo platform to enhance drug discovery productivity and accelerate market reach in the health sciences sector. By leveraging gen AI, clinical researchers can analyze large datasets, predict drug compound interactions, and create new paths for drug development. This breakthrough technology has the potential to revolutionize the drug discovery process, making it faster and more accessible. Cognizant aims to provide clients with model-making services and pretrained models, simplifying the training and customization of enterprise models. They will establish an Nvidia AI Center of Excellence to further innovate with Nvidia technologies.

Generative AI making customer support conversations more human, leading to wider adoption

Economic TimesEconomic Times ยท 1y ago
Generative AI making customer support conversations more human, leading to wider adoption
Medial

Artificial intelligence-powered customer care is gaining popularity, with platforms like Exotel, Freshworks, Gupshup, Corover.ai, and Yellow.ai offering conversational AI solutions. Adopted primarily on Meta's WhatsApp, this technology makes customer support conversations more human and dynamic, replacing standard bot responses. Yellow.ai reported a 10% adoption rate for their GenAI-powered customer support, resulting in a response time of 0.6 seconds. Freshworks' Gen-AI platform, Freddy Copilot, produced significant savings and return on investment for a B2C enterprise retail customer. The conversational AI market is expected to grow at an annual rate of 23.6% from 2023 to 2030, with hopes of automating various customer touchpoints.

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