1. History

2. Major Products

3. See also

4. References

5. External links

AntWorks Solutions India Pvt. Ltd, India

AntWorks Solutions Limited, UK

AntWorks Inc., USA

AntWorks Inc., Philippines

AntWorks is an artificial intelligence (AI) and intelligent automation company.

With one of the world’s only platform that understands every data type, AntWorks digitizes every bit of information for a diverse range of industries. By creating human-like RPA bots in a low-code, no-code environment, AntWorks innovates new ways to automate complex processes. AntWorks' product ANTstein powers up enterprises with accurate insights through an integrated, intelligent, technology stack that automates and learns independently. In short, AntWorks accelerates the new, constantly.

History

The company was co-founded by Asheesh Mehra and Govind Sandhu^[1] in 2015. Asheesh Mehra was formerly the Head of information of Infosys Technologies’ BPO operations in the Asia Pacific, Japan and Middle East regions.^[1][2] Mehra had been involved with Infosys for seven years.^[3] They founded the new company to cater to the financial services and healthcare industries.^[3] It was initially headquartered in Singapore, with three delivery centers in India^[3] including an office in Mumbai.^[4] It initially had seed capital of $8 million.^[3]

In June 2015, it was announced that the company was planning on acquiring two American firms.^[5] In October 2015, the company purchased Benchmark Systems, a company based in the United States.^[10][6] At the time, AntWorks primary delivery system was in Pune, India.^[6] Its first year, the company had $11 million in revenue.^[10] In March 2016, the company hired Greg Hackney to lead healthcare.^[7] In June 2016, the company announced it had upped its three-year revenue goal to $50 million and was scouting for acquisitions.^[8] The CEO attributed the increased goal as a result of the company's "transparent" pricing system.^[8]

The 2018 research paper "Banking Automation & Roboadvisors: Cost Analyses, Impacts & Opportunities 2018 -2022" by Juniper Research identified Antworks as one of 5 robotic process automation vendors that are current market leaders in delivering advanced cognitive, or intelligent RPA solutions.^[9] As per the report, the other vendors include IP Soft, Pegasystems, Wipro and Workfusion. The study highlights IP Soft and Antworks as one of two vendors that provide AI-integrated RPA solutions that use both knowledge-based and pattern-recognition based AI to generate dynamic process execution.^[10]

In July 2018, Japanese financial services giant SBI Holdings invested US $15 million (approx. INR 103 crore) in AntWorks. The investment in AntWorks was made through SBI Investment Co, a subsidiary of SBI Holdings.^[11]

As part of the strategic partnership, SBI Holdings and Singapore-headquartered AntWorks have also formed a joint venture to tap opportunities in the AI space across Southeast Asia, according to a statement issued by [https://www.bloomberg.com/research/stocks/people/person.asp?personId=240694&privcapId=7713659 Yoshitaka Kitao], president of SBI Holdings.

In August 2018, HFS Research placed AntWorks' platform ANTstein in the Top Ten RPA Product 2018. ^[12]

Major Products

AntWorks’ primary product is ANTstein. It is an AI-based RPA software product designed to understand structured as well as semi-unstructured data types such as handwriting and forms, as well as broader cognitive capabilities that include pattern recognition, photos and images. It consists of Integrated technical and operational capabilities in a BOT which can be configured and trained. These bots can be created in a code-free environment, and allows automation of complex processes. ANTstein integrates cognitive Machine Learning and autonomous automation into a single technology stack.^[13]

ANTstein is a content based, object retrieval framework with the capability to acquire and adapt to new information as part of its learning mechanism. It is designed to be able to handle business processes that require reasoning. With a cognitive machine reading based engine, ANTstein is designed to independently re-engineer itself while evaluating new data, and a dynamic learning engine allows it to analyse and resolve problems simultaneously. This product enables completion of laborious jobs of large teams, faster and with better accuracy. For instance, a request for change-of-address can be processed by ANTstein in only a minute, while a manned process for this task would take hours (or could also extend to days).^[13][14]

Key applications of ANTstein can include Risk & Resilience Management, Counter Fraud & Savings Optimization, Industry Analysis Analytics & Insights, Organization Design & Process, Human Resources and Talent Acquisition, and Business Transformation.

AntWorks has Enterprise Search and Machine Learning functions to support extraction of data, (for example) from legal documents. The combination of Computer Vision and pattern recognition allows AntWorks to provide one single solution whereas many other service providers have "painstakingly integrated different tool sets".^[15]

ANTstein has been categorized by Informationweek.com as a tool that's being adopted to tackle cognitive heavy processes, such as those that require Unstructured Data Processing - described as a leading challenge faced by industries today. ANTstein is listed as being in the same peer group category as products such as IBM’s Watson, Genpact’s RAGE, and IpSoft’s Amelia. ^[16]

AntWorks has two business models - Business Process as a Service (BPAAS) and Technology as a Service (TAAS).^[4] Its products cater to medium and small financial institutions, major hospital chains, clinics, and insurance providers.^[3] Concerning health care, predictive analytics are used to deal with billing, patient management, and disease management.^[3] It provides healthcare services in limited countries: the United States, Singapore, India, Qatar, the United Kingdom, and the Philippines. One of its products is the AntWorks Solutions Suite for healthcare.^[17]

The company develops software that can decipher unstructured data, as well as image-based data. According to the company, the "AntWorks solution" can be trained with machine learning to extract and process data automatically.^[18] ANTstein is an "intelligence suite", a "softbot" for businesses to analyze situations.^[19]

See also

• Blue Prism
• NICE
• Automation Anywhere

References

External links

• ant.works

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