MENLO PARK, Calif., Nov. 17, 2016 /PRNewswire/ -- Ayasdi, a leading developer of machine intelligence applications, today was recognized as the winner of the new Artificial Intelligence category of the prestigious 2017 Chartis RiskTech100® report. The report by Chartis, the leading provider of research and analysis on the global market for risk technology, is recognized as the most comprehensive study of the world's most significant risk and compliance technology companies.
The category win verifies Ayasdi's progress toward becoming the world's leading AI platform for the financial services industry. Developed by Stanford computational mathematicians, funded by top-tier Silicon Valley venture firms, and already in use by the world's biggest banks, Ayasdi is uniquely designed to facilitate the deployment of intelligent, AI-based applications across the enterprise.
"In 2015 Chartis's continuous market scan of end-user organizations identified Ayasdi as one of the most innovative AI players in the risk and compliance space," said Peyman Mestchian, Managing Partner at Chartis. "We have been particularly impressed by the practical use-cases and proof points provided by Ayasdi and how its large-scale machine intelligence-based applications and overall platform strategy help some of the world's largest financial services firms to reduce the cost and risk of compliance."
Ayasdi is well positioned globally to help financial services firms leverage AI to address pressing challenging including CCAR/stress testing, risk management, internal surveillance, client intelligence, market intelligence, fraud detection and anti-money laundering. Ayasdi's enterprise machine intelligence platform ingests and processes large volumes of internal data, market data, and/or third party data and then applies multiple machine learning, statistical and geometric algorithms to gain insight and predict the future.
For some applications, such as anti-money laundering, Ayasdi operates autonomously behind the scenes to help reduce false positives in existing rule-base AML systems. For others, such as risk mitigation, Ayasdi provides intelligent applications that business people and quants can use together. For example, banks can reduce the time required to develop a new credit risk model from thousands of hours with today's manual processes to an afternoon using the power of AI.
"We are extremely grateful to be selected by Chartis as the inaugural winner of the RiskTech100's category for Artificial Intelligence, an honor that we attribute to our customers' success in using our platform to drive transformational results," said Ayasdi CEO and Co-founder Gurjeet Singh. "Financial institutions and their executives are under increased pressure on many different fronts, from more stringent regulatory requirements to decreased return on capital to the increasing frequency, complexity, and scope of financial crime and fraud. We feel fortunate to be in partnership with some of the biggest financial services firms in the world in applying artificial intelligence and big data to solve these problems."
In addition to winning the Artificial Intelligence category, Ayasdi also ranked No. 27 overall in its first appearance on the RiskTech100. The annual report, now in its 11th year, is conducted by a leading team of analysts and advisors from the risk management and financial services industry who surveyed a record number of vendor respondents globally. The RiskTech100 companies are drawn from a range of risk technology specialties, meeting the needs of both financial and non-financial organizations.
Ayasdi helps companies around the world to use artificial intelligence and Big Data to make employees hundreds of times more productive and to drive fundamental breakthroughs that are beyond the capabilities of humans. Our revolutionary machine intelligence platform leverages automation, machine learning and topological data analysis to simplify the extraction of knowledge from even the largest and most complex data sets and to facilitate the deployment of intelligent, AI-based applications across the enterprise. Developed by Stanford computational mathematicians, Ayasdi's unique approach to machine intelligence leverages breakthrough mathematics, highly automated software and inexpensive, scalable computers to revolutionize the process of converting big data into business impact. We are excited to count many of the Global 500, plus leading governments and research institutions as our clients and partners. To learn more, visit www.ayasdi.com or follow us @ayasdi.
Ayasdi helps the world's biggest and most sophisticated organizations change how we all live and work. People who share this passion can view Ayasdi career opportunities here.
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Chartis Research (http://www.chartis-research.com).