With its announcement last week that it will purchase enterprise artificial intelligence (AI) and automation vendor Rage Frameworks, Genpact became the first IT and business process service provider to acquire an AI platform. The addition of Rage Frameworks, which has been applying machine learning and language processing to build intelligent automation platforms for financial services, capital markets and supply chains, "will take Genpact deeper into integrating semi and unstructured data and AI, where we see the true marriage of business processes with clever technology and self-developing algorithms," says Phil Fersht, CEO of outsourcing analyst and consulting firm HfS Research. On the surface, another acquisition of a niche automation vendor by an IT service provider might seem unremarkable. But industry watchers say this may be the tipping point where focus will shift from back-office automation to integrating and intelligently automating front- and middle-office functions. "It represents an evolution of the back-office oriented automation acquisitions that many outsourcing providers have made over the past several years," says David Borowski, director with outsourcing consultancy Pace Harmon.

NEW YORK, March 14, 2017 – Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation for clients, has signed a definitive agreement to acquire Rage Frameworks, a leader in knowledge-based automation technology and services providing Artificial Intelligence (AI) for the Enterprise. Terms of the deal are not disclosed. As part of its strategy to drive both digital-led innovation and digital-enabled intelligent operations for its clients, Genpact is investing in leading technologies, such as AI, that are transforming the way companies in many industries compete. Genpact will embed Rage's AI in business operations and apply it to complex enterprise issues to allow clients to generate insights and drive decisions and action, at a scale and speed that humans alone could not achieve. "As advanced technologies such as AI fundamentally change the definition of work, the ability for CXOs to find and leverage new solutions that combine the best elements of human expertise and machine intelligence, will be critical to their ability to gain and sustain competitive advantage," said NV'Tiger' Tyagarajan, president and CEO, Genpact.

Information contained on this page is provided by an independent third-party content provider. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com Addition of enterprise-level AI capabilities furthers Genpact's ability to drive digital transformation at speed and scale for clients Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation for clients, has signed a definitive agreement to acquire Rage Frameworks, a leader in knowledge-based automation technology and services providing Artificial Intelligence (AI) for the Enterprise. Terms of the deal are not disclosed. As part of its strategy to drive both digital-led innovation and digital-enabled intelligent operations for its clients, Genpact is investing in leading technologies, such as AI, that are transforming the way companies in many industries compete. Genpact will embed Rage's AI in business operations and apply it to complex enterprise issues to allow clients to generate insights and drive decisions and action, at a scale and speed that humans alone could not achieve.

Genpact (NYSE:G), a global professional services firm focused on delivering digital transformation for clients, has signed a definitive agreement to acquire Rage Frameworks, a leader in knowledge-based automation technology and services providing Artificial Intelligence (AI) for the Enterprise. Terms of the deal are not disclosed. As part of its strategy to drive both digital-led innovation and digital-enabled intelligent operations for its clients, Genpact is investing in leading technologies, such as AI, that are transforming the way companies in many industries compete. Genpact will embed Rage's AI in business operations and apply it to complex enterprise issues to allow clients to generate insights and drive decisions and action, at a scale and speed that humans alone could not achieve. "As advanced technologies such as AI fundamentally change the definition of work, the ability for CXOs to find and leverage new solutions that combine the best elements of human expertise and machine intelligence, will be critical to their ability to gain and sustain competitive advantage," said NV'Tiger' Tyagarajan, president and CEO, Genpact.

According to Tech Spot, the concept of having a machine capable of reacting in an intelligent way has been until very recently a matter of science fiction. However, this concept is certainly very compelling and scientists were working on transform this into reality. We are now on the verge of creating this new reality. The general public, however, is not yet informed of what concepts such as neural networks, artificial intelligence and deep learning represent. Much of the current efforts in the field of deep learning technology are related from the simplest level to the very rapid recognition and classification of objects.

DEDHAM, MA--(Marketwired - Dec 7, 2016) - RAGE Frameworks, a provider of artificial intelligence (AI) for the Enterprise, today announced that a leading diversified investment and financial services company has deployed RAGE LiveSpread to automate the extraction, interpretation and processing of financial statements and other documents needed for credit analysis. RAGE LiveSpread is a contextual, traceable machine learning solution built on the RAGE-AI platform. Dealing with variations in form (electronic files, pdfs, and paper statements), format, language, accounting standards across countries, and data delivery methods makes financial statement automation a major challenge. Currently, this is a manual, error-prone, and non-scalable process at every major bank around the world. At this leading investment and financial services company, RAGE's solution completely automates the ingestion, extraction, interpretation of investment reports, bank statements and Income Tax returns.

Today, artificial intelligence (AI) is rapidly emerging out of R&D labs and into the mainstream. Smart technologies are changing every aspect of our lives, from the way we work, to health care, education, travel, and transportation. One example: the self-driving cars produced by Google and Tesla. There are also many successful applications in the computer vision space. But what about the non-vision applications of AI: that is, areas including non-spatial data--most importantly, text and numbers?

DEDHAM, MA--(Marketwired - Sep 7, 2016) - Rage Frameworks, a provider of knowledge-based automation technology and services, today announced that a leading multinational financial services firm has selected its Artificial Intelligence platform (RAGE AI) to drive improved results for its investment customers by using artificial intelligence to discover signals captured in a wide variety of data sources with Rage's innovative deep learning capabilities. RAGE AI significantly extends the frontier of deep learning and machine intelligence technology as it incorporates proprietary linguistics-based machine learning innovations to understand market developments in the context of individual companies and interpret those signals as a human would. After demonstrating via historical back-testing that the Rage AI platform repeatedly delivered returns in excess of what the firm's quantitative team was able to produce, Rage's solution was integrated in order to drive significant lift in the returns generated for the firm's clients. In fact, Rage has repeatedly shown that its deep background in computational linguistics and Natural Language Understanding can systematically discover Alpha by forming assessments of a company's financial projections that effectively predict future performance for businesses such as Wal-Mart (attached), where Rage AI predicted an upward trend in stock price months in advance. The RAGE AI platform does this by continuously interpreting unstructured content from over 100,000 sources and translating it into valuable intelligence.

DEDHAM, MA–(Marketwired – Sep 7, 2016) – Rage Frameworks, a provider of knowledge-based automation technology and services, today announced that a leading multinational financial services firm has selected its Artificial Intelligence platform (RAGE AI) to drive improved results for its investment customers by using artificial intelligence to discover signals captured in a wide variety of data sources with Rage's innovative deep learning capabilities. RAGE AI significantly extends the frontier of deep learning and machine intelligence technology as it incorporates proprietary linguistics-based machine learning innovations to understand market developments in the context of individual companies and interpret those signals as a human would. After demonstrating via historical back-testing that the Rage AI platform repeatedly delivered returns in excess of what the firm's quantitative team was able to produce, Rage's solution was integrated in order to drive significant lift in the returns generated for the firm's clients. In fact, Rage has repeatedly shown that its deep background in computational linguistics and Natural Language Understanding can systematically discover Alpha by forming assessments of a company's financial projections that effectively predict future performance for businesses such as Wal-Mart (attached), where Rage AI predicted an upward trend in stock price months in advance. The RAGE AI platform does this by continuously interpreting unstructured content from over 100,000 sources and translating it into valuable intelligence.

Vikram heads up the Semantic Intelligence business at RAGE Frameworks. He is responsible for establishing go-to-market strategy, building strategic relationships, shaping products, and managing P&L for the business. He is passionate about solving big business transformation problems using semantic intelligence, big data, machine learning, analytics, and automation. Prior to RAGE Vikram was a Director at Deloitte.