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CoE will cater to customers across mobility, high-tech, and sustainability segments TROY, Mich., and BANGALORE, India, Aug. 7, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, and L&T Technology Services (BSE: 540115, NSE: LTTS), a global digital engineering and R&D services company, jointly announced the establishment of a digital twin center of excellence (CoE) to accelerate digital transformation. The CoE will deliver cutting-edge digital twin capabilities to joint customers worldwide across mobility, high-tech, and sustainability segments, enabling premier digital twin solutions for enhanced innovation and efficiency. Altair and L&T Technology Services jointly announced the establishment of a digital twin center of excellence (CoE) to accelerate digital transformation, delivering cutting-edge digital twin capabilities to joint customers worldwide across mobility, high-tech, and sustainability segments. The CoE will help organizations learn the latest methodologies and technologies in the areas of: AI-powered engineering to transform products, systems, and processes Innovation labs to simulate new use cases Predictive maintenance Rapid product development to reduce cycle time for physical prototyping Hands-on training "In a world defined by the ever-increasing pace of technology and market pressures, this initiative will help organizations stay ahead of technology trends, maximize their investments, and bring better, more informed products and processes to market faster," said Stephanie Buckner, chief operating officer, Altair. "Our advanced approach combined with LTTS' expertise will help teams better design, build, test, optimize, evaluate what-if scenarios, perform predictive maintenance, and extend the remaining useful life (RUL) of their products without physical prototypes." "The strategic partnership with Altair is poised to revolutionize the digital twin technology landscape. By leveraging LTTS' unparalleled cross-domain engineering expertise and Altair's exceptional simulation and data analysis capabilities, we are set to redefine industry standards across segments such as mobility, sustainability and high-tech," said Abhishek Sinha, executive director and president of Medical, Smart World, and Functions, LTTS. "Together, we are committed to pioneering advancements that will shape the future of technological integration." LTTS has extensive experience in digital twin technology with multiple CoEs across its design centers. Its Digital Twin for Line Operations enhances performance through virtual commissioning, efficiency monitoring, predictive maintenance, and root cause analysis using real-time and historical data. It supports strategic digital transformations and offers modular implementation and role-based access. Additionally, LTTS has engineered a digital twin with over 54 machine learning algorithms to automate oil rig operations. To read more, click here or refer to the e-book to explore the world of digital twin and LTTS' role in the digital twin revolution. LTTS has already utilized Altair's leading total digital twin portfolio – covering solutions from both the Altair® HyperWorks® design and simulation platform and Altair® RapidMiner® data analytics and AI platform – for multiple diverse use cases, including: Motor, battery, and gear box systems Automotive electrical systems Heart attack and stroke risk prediction Data-driven automotive production line performance Data-driven wind power forecasting Altair's one total twin solution combined with the company's domain expertise empowers organizations to become more efficient and deploy digital twin technology when and where they need it – from pre-production conceptual design through in-service performance. To learn more about Altair's digital twin capabilities, visit https://altair.com/digital-twin. About Altair Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com. About L&T Technology Services Ltd L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world's top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 23,550 employees spread across 22 global design centers, 30 global sales offices and 108 innovation labs as of June 30, 2024. For more information, please visit https://www.LTTS.com/ Media Contacts Altair Corporate Altair Investor Relations Bridget Hagan Stephen Palmtag +1.216.769.2658 +1.669.328.9111 corp-newsroom@altair.com ir@altair.com Altair Europe/The Middle East/Africa LTTS Investor Relations Charlotte Hartmann Pinku Pappan +49 7031 3095 6990-0 pinku.pappan@ltts.com emea-newsroom@altair.com LTTS Media Contact Aniruddha Basu Aniruddha.basu@ltts.com
Serving over 100,000 business customers in 200+ markets, DeepL recognized for industry-leading AI translation and writing software SAN FRANCISCO, Aug. 7, 2024 /PRNewswire/ -- DeepL, a leading global Language AI company, has been named to the Forbes 2024 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. "At DeepL, we're on a mission to break down language barriers so that every company can operate seamlessly on a global scale with AI," said Jarek Kutylowski, CEO and Founder, DeepL. "Being named to the Forbes Cloud 100 list for two years in a row is a testament to DeepL's steadfast commitment to research and innovation in the Language AI space, which has cemented our position as a leader in the industry and ensures our products remain at the forefront of accuracy, security and advancement. It also affirms the significant – and proven – impact that the DeepL platform is having on the way businesses around the world operate and grow." With a rapidly-growing customer network of over 100,000 businesses and governments around the world, including 50% of the Fortune 500 and industry leaders like Zendesk, Nikkei, Coursera, and Deutsche Bahn, DeepL has become the preferred Language AI platform for businesses worldwide. DeepL offers cutting-edge translation and writing solutions through its specialized Language AI platform, which has become a critical investment for international business growth, addressing communication challenges across numerous applications from internal operations to customer support. Unlike general-purpose AI systems, DeepL's software is powered by specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges. This accolade is the latest milestone during a period of significant growth and momentum for DeepL. Just last month, the company unveiled its next-generation large language model (LLM), which outperforms GPT-4, Google, and Microsoft for translation quality, setting a new standard for accuracy and performance. DeepL also recently unveiled DeepL for Enterprise, a solution tailored to address the evolving needs of businesses seeking to integrate AI solutions, and raised $300M of new investment at a $2B valuation in May, led by renowned late-stage investment firm Index Ventures. For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers. "For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security," said Alex Konrad, the Forbes editor of the Cloud 100. "This year's list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs." "Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history," said Mary D'Onofrio, partner at Bessemer Venture Partners. "Unsurprisingly, AI is now the highest valued category. We continue to be excited by how AI companies are scaling rapidly, transforming the cloud, and propelling the next wave of growth, driving a massive year-over-year jump in market cap of over $150 billion. "The past year, our industry has seen a generational step forward in innovation, and with AI leading the charge, we are witnessing one of the most important platform shifts in decades," said Paul Drews, managing partner at Salesforce Ventures. "The Cloud 100 list represents the best of the best, and we've never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished, and look forward to seeing how they continue to transform the industry in the future." The Forbes 2024 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2024 issue of Forbes magazine. This year, the CEOs of The Cloud 100 and the 20 Rising Stars companies will be honored with a digital content launch, as well as at the exclusive Cloud 100 Celebration hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to the event sponsors, including Amazon Web Services (AWS), Bank of America, Cooley, Deloitte, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, and Nasdaq. About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses and governments and millions of individuals in 228 global markets trust DeepL's Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL's AI solutions that are specifically tuned for language to transform business communications, expand markets, and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP, and Index Ventures. About Bessemer Venture PartnersBessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer's global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer's storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). About ForbesForbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 43 licensed local editions in 69 countries. Forbes Media's brand extensions include real estate, education and financial services license agreements. About Salesforce VenturesSalesforce Ventures helps enterprising founders build companies that reinvent the way the world works. For over 15 years, we've invested in and partnered with more than 400 of the world's most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom.We leverage our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an unfair advantage, help them build credibility, and accelerate growth. Salesforce Ventures has a $5BN portfolio of 300+ companies in more than 25 countries, and has offices worldwide, including in San Francisco, Irvine, New York, London, Tokyo, and Sydney.Follow @SalesforceVC and learn more at http://www.salesforceventures.com.
AI-driven Attack Signal Intelligence provides SOC teams a holistic view of their active posture and any active attacks across networks, identities, clouds and GenAI tools SINGAPORE, Aug. 7, 2024 /PRNewswire/ -- Vectra AI, Inc., the leader in AI-driven XDR (extended detection and response), today announced the expansion of its Vectra AI Platform, which now equips security operations center (SOC) teams with active posture to proactively discover and pinpoint where their hybrid environment is exposed to attackers. With this expansion, Vectra AI Platform's patented Attack Signal Intelligence™ now provides a holistic view with analytics to discover, deter, detect, and disrupt hybrid attackers. To keep pace with attackers, it is critical for SOC teams to know where the organization is exposed to hybrid attacker infiltration, progression, and lateral movement across the entire hybrid environment. Failure to stay on top of a dynamic, ever-changing hybrid attack surface enables attackers to progress their campaigns to remain unseen and unstopped. "At Vectra AI we are constantly innovating to keep up with the evolving attack landscape and stay one step ahead of attackers," said Hitesh Sheth, founder and CEO of Vectra AI. "As the leader in AI-driven XDR, we believe that SOC teams must have a view of their active posture to understand their exposure to attackers. With that foundation, they must be armed with the right information to actively seek out and identify active attacks across their networks, identities, clouds and GenAI tools. The Vectra AI Platform is rooted in a methodology that integrates security research, data science/machine learning engineering and user experience focused on one mission: use AI to deliver accurate attack signal at speed and scale." With the proactive defense of Vectra AI Attack Signal Intelligence, SOC teams receive a comprehensive view of their network, identity, cloud, and GenAI active posture. Active posture across the hybrid environment provides SOC teams a real-time view of how the attack surface they are tasked to defend is changing, that other tools relying on static information cannot. Armed with the active posture component of Attack Signal Intelligence, SOC teams proactively discover security gaps related to what users and machines are actually doing. This is accomplished by monitoring 20+ different AI-enhanced data streams and hundreds of different attributes that enable teams to stop a future threat. It finds gaps that other tools miss like: Identity hygiene issues such as account logins without two-factor authentication, use of legacy sign-in protocols, weak location-based access controls and overly permissive access to tools like the backend Microsoft Graph API or PowerShell. In a given week, 99% of organizations have more than one user accessing Azure AD through Powershell or some scripting engine, any of which can be hijacked by an attacker and abused. Network posture with visibility into network risks like external RDP access, IPMI usage, weak or non-encrypted data transfers, and SMB1 usage. More than one-third of organizations still have SMBv1 enabled, opening them to ransomware and other attacker vulnerabilities. Clarity on Copilot for M365 usage across the organization allows teams to understand adoption and use, enabling improved governance around data access controls and permissions, including potential attacker abuse. Vectra AI sees that over 40% of organizations have started adopting Copilot for M365 in their environment. "Vectra AI's XDR platform with Attack Signal Intelligence equips the SOC with a complete view of their hybrid environment - not just to determine if their network, identity, or cloud has already been compromised - but if something is operating in a way that may lead to a future compromise," said Jeff Reed, chief product officer of Vectra AI. "Customers who are already using the Vectra AI Platform can now effectively discover, deter, detect, and disrupt hybrid attackers, proactively addressing the full cycle of a potential breach, and utilize these capabilities free of charge." Sharat Nautiyal, Director of Security Engineering, Vectra AI, APJ, adds, "AI in cybersecurity is the future and businesses that don't look at AI as a critically important component of their defence against automated attacks will be vulnerable. Particularly, as adoption rates of Gen AI productivity tools like Copilot for M365 continue to accelerate. Advanced AI delivered in an integrated attack signal could stop today's most challenging hybrid cyberattacks. It also helps take the ambiguity out of security analysts' day and enable them to focus on what matters." This latest expansion of the Vectra AI platform follows Vectra AI's May 2024 announcement, introducing capabilities to detect attacker abuse of GenAI tools like Microsoft Copilot for M365. Learn more about how Vectra AI is setting the new standard for extended detection and response (XDR) by visiting our blog and following along on LinkedIn and X.
New advancements built on watsonx empower IBM Consulting security analysts to help clients accelerate alert investigation ARMONK, N.Y., Aug. 5, 2024 /PRNewswire/ -- IBM (NYSE: IBM) announced today the introduction of generative AI capabilities to its managed Threat Detection and Response Services utilized by IBM Consulting analysts to advance and streamline security operations for clients. Built on IBM's watsonx data and AI platform, the new IBM Consulting Cybersecurity Assistant is designed to accelerate and improve the identification, investigation and response to critical security threats. IBM Corporation logo. In addition to being included in IBM Consulting's threat detection and response practice, the Cybersecurity Assistant will be part of IBM Consulting Advantage,the AI services platform with purpose-built AI assets designed to empower IBM consultants to deliver value for clients with consistency, repeatability, quality and speed. "As cyber incidents evolve from immediate crises to multi-dimensional and months-long events, security teams are facing the enduring challenge of too many attacks and not enough time or people to defend against them," said Mark Hughes, Global Managing Partner of Cybersecurity Services, IBM Consulting. "By enhancing our Threat Detection and Response services with generative AI, we can reduce manual investigations and operational tasks for security analysts, empowering them to respond more proactively and precisely to critical threats, and helping to improve overall security posture for clients." IBM's Threat Detection and Response (TDR) Services can automatically escalate or close up to 85% of alerts1; and now, by bringing together existing AI and automation capabilities with the new generative AI technologies, IBM's global security analysts can speed the investigation of the remaining alerts requiring action. Specifically, the new capabilities helped reduce alert investigation times by 48% for one client. The new Cybersecurity Assistant delivers the following: Accelerate threat investigations and remediation with historical correlation analysisThe Cybersecurity Assistant is designed to help speed up complex threat investigations via historical correlation analysis of similar threats. Built into IBM's TDR Services, the new capability cross-correlates alerts and enhances insights from SIEM, network, EDR, vulnerability and telemetry to provide a holistic and integrative threat management approach. By analyzing patterns of historical, client-specific threat activity, security analysts will be equipped to be more proactive and precise. To help them better comprehend critical threats, analysts will have access to a timeline view of attack sequences, helping them to better comprehend the issue and provide more context to investigations. The assistant will also auto-recommend actions based on the historical patterns of analyzed activity and pre-set confidence levels, speeding response times for clients and helping to reduce attackers' dwell time. With the ability to continuously learn from investigations, the Cybersecurity Assistant's speed and accuracy is expected to improve over time. Streamlined operational tasks with an advanced conversational engineThe Cybersecurity Assistant includes a generative AI conversational engine that provides real-time insights and support on operational tasks to both clients and IBM security analysts. In addition to responding to requests such as opening or summarizing tickets, the conversational feature can automatically trigger relevant actions, including running queries, pulling logs, command explanations or enriching threat intelligence. By explaining complex security events and commands, the TDR Service can help reduce noise and boost overall SOC efficiency for clients. "With IBM's advancements to its managed security services, businesses can gain a new level of insight into critical threats and benefit from technology that continuously learns from actions taken within their specific environment. This helps drive a cycle of increasingly accurate and rapid threat investigations, which is especially crucial today as businesses face a shortage of security resources and surplus in security risks and vulnerabilities," said Craig Robinson, a Research Vice President for IDC's Security Services Research Practice. Built in collaboration with IBM Research, the new IBM Consulting Cybersecurity Assistant takes advantage of IBM's broader generative AI capabilities – built on the company's Granite foundation models, refined for production within IBM watsonx.ai, and tapping into IBM watsonx Assistant for the conversational chat interface. Additional Sources Visit here for more information on IBM TDR Services Inquire about a no-cost threat management workshop Join our webinar, "Leveraging Security AI and Automation to mitigate the impact of data breaches," on Tuesday, September 17 at 11:00 a.m. ET About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs, and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. 1 Based on IBM's internal analysis of aggregated performance data observed from engagements with 340+ clients in July 2023. Up to 85% of alerts were handled through automation rather than human intervention, using AI capabilities that are part of IBM's Threat Detection and Response service. Actual results will vary based on client configurations and conditions and, therefore, generally expected results cannot be provided. Media Contact:Joel RushingJoel.Rushing@ibm.com
TAIPEI, Aug. 1, 2024 /PRNewswire/ -- Following its major victory last year, TPIsoftware has once again shone at the 2024 Taiwan Young Award in the Smart Application category with its SysTalk.ai AI insurance claims processing solution. Organized by the Information Service Industry Association, the award is one of the most prestigious awards that encourage technological innovation in the nation. Earning an honorable mention at this year's event, the AI solution specializes in process automation addressing pain points in the insurance industry with an adaptive AI model. Its capability to dynamically adjust to various formats throughout the insurance claims process liberates human workers from repetitive tasks, elevating the workforce to new heights of success. Adaptive AI-Led Transformation of Insurance Claims Process TPIsoftware has pioneered Intelligent Character Recognition (ICR) with the AI textual analysis and Natural Language Processing in combination with AI algorithms as the core technologies for semantic analysis and text recognition while meeting industrial compliance. With ensemble learning and an AI retraining mechanism, the tool ensures accurate and efficient data entry, significantly reducing human errors. Robotic Process Automation is incorporated into the model to facilitate cross-platform integration by auto-connecting the claim engine, optimizing the process of claims review and adjudication. An adaptive AI platform SysTalk.PUZZLE is introduced to enable autonomous maintenance and small data training to keep up with the operational needs without additional costs. Streamlined Insurance Claims Processing Application Entering its tenth year, the Taiwan Young Award has been a technology benchmark that inspires innovation and transformation. TPIsoftware has seen consecutive achievements following its big win last year with its AI chatbot SysTalk.Chat and enterprise middle platform DigiFusion. This year, SysTalk.ai has garnered recognition for its capability to provide efficiency and accuracy in streamlining the insurance claims process. "Just like a human, SysTalk.ai is capable of processing data and has proven to be exceptional. After adopting the solution, the AI retraining enables autonomous maintenance and continuous optimization of the system with minimal human effort, which is a crucial aspect when navigating digital transformation," commented Jeff Lin, Executive Vice President at TPIsoftware.
TAIPEI, July 31, 2024 /PRNewswire/ -- Following its major victory last year, TPIsoftware has once again shone at the 2024 Taiwan Young Award in the Smart Application category with SysTalk.ai, the company's proprietary AI insurance claims processing solution. Organized by the Information Service Industry Association (CISA), the Taiwan Young Award is one of the most prestigious national awards that encourage technological innovation in the nation. Earning an honorable mention at this year's event, the AI solution specializes in process automation addressing deep-rooted pain points in the insurance industry with an adaptive AI model. SysTalk.ai's capability to dynamically adjust to various formats throughout the insurance claim process liberates human workers from repetitive tasks, elevating the workforce to new heights of success. Adaptive AI-Led Transformation of Insurance Claims Process TPIsoftware has pioneered Intelligent Character Recognition (ICR)—a refinement of conventional Optical Character Recognition (OCR)—with the AI textual analysis and Natural Language Processing (NLP) in combination with AI algorithms as the core technologies for semantic analysis and text recognition while in compliance with ICD-9/10 and Taiwan's Surgical Procedure of Primary Code System. With ensemble learning and an AI retraining mechanism, the exclusively-developed tool ensures accurate and efficient data entry, significantly reducing human errors. In addition, Robotic Process Automation (RPA) is incorporated into the model to facilitate seamless cross-platform integration by automatically connecting the claim engine, optimizing the process of claims review and adjudication. An adaptive AI platform SysTalk.PUZZLE is introduced to enable autonomous maintenance and model training with small datasets to keep up with the growing operational needs without additional costs. Streamlined Insurance Claims Processing Application Entering its tenth year, the Taiwan Young Award has been a technology benchmark in the country that inspires outstanding industrial innovation and transformation. TPIsoftware has seen consecutive achievements following its big win last year with its AI chatbot SysTalk.Chat and enterprise middle platform DigiFusion. This year, SysTalk.ai has garnered recognition for its capability to provide greater efficiency and accuracy in terms of a streamlined insurance claims process. "Just like a human, SysTalk.ai is capable of processing data and has proven to be exceptional in what it does. Workflow has been streamlined through the automation of insurance claims processes. After adopting the solution, the exclusive AI retraining mechanism enables customers to autonomously maintain and continuously optimize the system with minimal human effort, which is a crucial aspect many financial and insurance companies take into account when navigating digital transformation," commented Jeff Lin, Executive Vice President of TPIsoftware's Innovation and AI Product Division.
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