For the longest time now, organizations have been inclined towards automation across processes to ensure higher productivity, reliability, and efficiency. This fueled an uptick in demand for human-to-machine communication bringing into the picture, what we today know as, Natural Language Processing or NLP. Researches indicate that the global NLP market is expected to grow from USD 11.6 billion in 2020 to USD 35.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.3%.
As the demand for NLP grows, organizations seek much more innovative and efficient solutions across functions like marketing and sales, human resource, IT operations, finance, and legal amongst many others. To cater to these demands E42, a pioneer in AI NLP offers unique solutions to its customers globally with more than 150-man years of RnD experience. A no-code cognitive process automation (CPA) platform, E42 is helping enterprises create multifunctional cognitive agents, causing significant waves across the industry. A journey that began in 2012 with 15 handpicked engineers has today achieved multiple milestones. To manage the rise in demand and growth, E42 to partner with Oracle for its second-generation cloud infrastructure services. Sanjeev Menon, Co-Founder and Head of Product, E42, in a discussion with CXO today shared more insights on the same.
Top trends in the NLP space in India – where is the demand coming from, what are its use cases, share some examples of your work/customers
We started seeing companies moving with a strategic focus on the NLP and AI solutions/ deployments. Deployments and solutions of yesteryear were predominantly tactical for a quick benefit, but were plagued with the enterprise data silo problem. E42 focuses on the importance of understanding unstructured data in enterprise automation. We are seeing high demand in Multilingual NLP, automating customer onboarding and care, candidate engagement, employee wellness, engagement, and retention etc.
An automobile major in India is deploying the platform for automating various functions across departments. One of the largest telecom companies is using E42 to automatically generate reports and insights from unstructured and structured data for data-enriched marketing and sales in addition to running their end-to-end customer support as well on the platform. One of the largest cement manufacturers has deployed our AI worker for employee engagement, wellness, and retention.
How is E42 is revolutionizing the enterprise automation market
E42.ai is a no-code platform for creating/hiring AI workers. The platform being no-code, instead of low-code, means it doesn’t require any coding to build a wide range of AI workers. The concept is similar to hiring an employee for a particular role and training him/her. With E42, enterprises can easily create AI workers to automate various processes and functions or hire one of the AI workers readily available and get them trained on the enterprise data by someone who is a functional expert (rather than a developer or IT person). Each of these AI workers aggregates the data on the same platform and the enterprise is able to leverage the learning and insights across various functional areas – as a result, becoming more intelligent than a traditional enterprise.
How do you view the cloud’s role in building your solution and also helping you scale?
Cloud is paramount for our success, especially when it comes to scaling our operations or auto-scaling, based on the utilization of the AI workers. It helps us work with enterprises with globally distributed offices and workforce and geo local data restrictions. We are able to offer the platform as a service, thanks to the automation and management possible on the cloud.
How has been the journey with Oracle cloud? Brief history and success?
We started our Oracle cloud journey before the world changed with the pandemic. Over the last two-year period, quite a lot of our cloud assets and AI workloads have moved to Oracle.
This has been extremely successful- The migration to Oracle Infrastructure Cloud has allowed us to get better performance with almost 50% reduction in the infra cost. Better output and reduced costs have enabled us to offer free trials to our customers which has significantly improved the traction and adoption of the E42.ai platform and our AI workers.
Any quantitative benefits that can be shared after migrating to Oracle Cloud Infrastructure?
- Almost 50% reduction in infrastructure cost and approximately 20% higher throughput on Oracle Bare Metal servers for the AI worker deployments
- Significant performance improvements for the E42 platform configuration and training with the new E4-Flex AMD processor based Virtual Machines on Oracle
How does E42 aim to grow in the coming years, your future plans?
There are some key developments and initiatives in stealth mode which will be released later this year. Apart from that, we’re looking at enhancing the platform’s cognitive ability. Currently, the platform can read documents, identify faces, understand structured and unstructured data, and can carry out machine comprehension at human parity levels.
With the next version (coming out later part of this year), it is sure to become even more seamless and easier for our partners to solve a specific problem and create AI workers for process automation across verticals and functions.
In the near future, we’re working on advancements in the base cognition layer itself that will extend the capability of AI workers built on E42 and open up new vistas for creating newer AI workers. We will also be launching AI as a service, offering some of the platform capabilities.
The AI workers built on E42.ai may not replace humans but humans/companies using our AI workers will definitely replace the humans/companies that are not using AI workers!