Mphasis Inducts Quantel AI into Sparkle Innovation Ecosystem to Deliver AI-based Risk Management Solutions
Mphasis(BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its partnership with Quantel AI, Inc, a tech startup focused on building niche products for risk management across various industry verticals. Under the agreement, Mphasis will induct Quantel AI into Sparkle Innovation Ecosystem – a global innovation program that’s designed to help deliver ‘Innovation-as-a-Service’ to its clients. Mphasis will collaborate with Quantel AI to build contextual solutions for their clients across multiple industries.
Quantel AI’s flagship product, EagleAI™, is a fully autonomous anomaly detection engine that can be added to enterprises’ current environments without disrupting existing business workflows. EagleAI™ watches data flows in real-time, learns patterns and builds AI models to detect any anomalies against expected behavior. EagleAI™ adapts itself to changing patterns in business activity due to changes in trends, market conditions, etc. and ensures risk managers are instantaneously alerted on critical issues. EagleAI™ can augment existing risk mitigation tools while providing broader coverage and autonomous detection capabilities that need virtually no human intervention.
“Mphasis is pleased to induct Quantel AI into our Sparkle Innovation Ecosystem to offer Innovation-as-a-Service to our clients by leveraging Quantel AI’s unique IP. The distinctive anomaly detection engine capabilities have relevancy and immediacy,” said Dinesh Venugopal, President, Mphasis Direct and Digital. “With increasing volumes of micro-transactions from digital channels, streams of data from IoT devices and increasing volumes of algorithmic trading, there is a dire need for the control and monitoring overlay that EagleAI™ can bring to these ecosystems. Our experienced integration team is working closely with Quantel AI to leverage our data and NextGen application development accelerators to reduce the effort to quickly integrate EagleAI into enterprises and building confidence in the compliance controls that the platform provides.”
“We are delighted to partner and co-innovate with Mphasis to build focused solutions for their clients. We look forward to leveraging their deep industry and domain expertise, extensive enterprise experience, innovation best practices and centers of excellence to deploy EagleAI™ as an integral part of their solutions across various market verticals,” said Shyam Sreenivasan, Founder, and CEO of Quantel AI. “Traditional approaches using rules-based engines cannot intercept issues that have not been codified. EagleAI™, on the contrary, keeps an eagle’s eye on a multitude of patterns that exist in an environment and looks for the proverbial ‘needle in a haystack’ using advanced AI techniques. Besides, EagleAI™ provides powerful triangulation capabilities that make identifying root causes easy in addition to providing a larger, broader net to catch anomalies.”