"It's our philosophy that people should be able to spend more time focused on things like creativity and judgment in their day-to-day workflows and leave the monotony of information mining and paper pushing to the machines. Coseer makes that possible," said CEO Praful Krishna, a Harvard Business School and McKinsey & Company alumni.
The startup is banking on the accessibility of their technology to gain a stronger foothold in the nascent cognitive computing industry expected to grow at a 55% CAGR and reach $31 billion by 2019. Companies like IBM, who have injected $1 billion into creating a business unit for their supercomputer, Watson, require massive investments from an enterprise's higher-ranking executives or Board to adopt. Coseer, on the other hand, makes its technology available to VPs and Directors and at much lower costs.
The company's cognitive engine automatically aggregates millions of data sources in real time, including numbers and text, which it reads and summarizes like a human, but for a fraction of the time and resources, and with 95-98% accuracy. The technology is highly customizable and boasts accelerated training that allows enterprises to deploy the system within 4-12 weeks. The software runs over conventional hardware in the cloud or on premise and is accessible for both large and small problems.
Such technology is applicable across a wide range of industries. For example, a healthcare organization that deals with 10 million different SKUs can leverage Coseer's technology to simplify routine purchase operations. Coseer's products ingest informational elements like brochures, white papers and surgical protocols to make this possible.
"None of that information is structured. And sometimes it's not even all in English. We help them say things like, 'Hey, SKU 256 is the same as SKU 375 but it's 20% cheaper.' Having that type of information radically transforms how you do business in that niche," Krishna elaborated.
Financial institutions also greatly benefit from the machine learning at the heart of Coseer's software. By synthesizing and continuously monitoring thousands of technical forms and data points commonly used by investment banks, wealth managers, insurance companies, and others offering financial products or services, Coseer is able to provide significantly improved decision-making and customer experiences.
In order to showcase their technology's functionality, Coseer recently released several product demos and relevant case studies across industries like consulting & legal, finance, manufacturing, and life sciences, among others. The team is inviting those interested in trying out the company's products first hand to visit their website here.
For more information about this story, contact:
Praful Krishna, CEO
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