Our new brand promise underscores our dedication to delivering reliable product performance and simple, easy experiences for our customers
CHICAGO, Sept. 09, 2024 (GLOBE NEWSWIRE) — Dormer Pramet is proud to announce the unveiling of our redefined brand identity at IMTS 2024, marking the beginning of a new era for our company. Visitors to our booth will experience first-hand the fresh visual identity and innovative products that reflect our commitment to simplifying messages and enhancing user experiences.
Certainty at Every Turn: Our new brand promise underscores our dedication to delivering reliable product performance and simple, easy experiences for our customers. This theme resonates through our entire repositioning effort, ensuring that every interaction with Dormer Pramet is dependable and trustworthy.
Key Highlights of the New Brand Identity:
Unified Global Master Brand: Dormer and Pramet brands are now united under the global master brand, Dormer Pramet, to create a clearly defined space in the market, simplifying product groupings and enhancing customer value. Miranda and Precision will remain within the Dormer Pramet’s portfolio as national hero brands.
New Visual Identity: Our updated corporate identity, includes a refreshed visual style that will be rolled out across our website, packaging, and various touchpoints.
New packaging: Starting January 2025, all packaging will transition to grey, with our new brand identity. By making our packaging grey, it means that it can be more easily recycled at the end of life.
Our commitment: Reflecting our core values, we are dedicated to being collaboratively curious, activating ideas, doing the right thing, and going the extra mile for our customers.
At Dormer Pramet, we care deeply about the manufacturing community. This dedication to supporting our growth and resilience is embedded in our brand values and is reflected in our commitments.
Visitors at IMTS 2024 Can Expect:
Innovative Product Displays: Experience our latest cutting tools and solutions designed to improve performance and reduce operational costs.
Interactive Demonstrations: Engage with our experts to understand how our products and solutions can benefit your specific applications.
Storytelling and Engagement: Learn about our brand values and behaviors through powerful storytelling that highlights our dedication to collaboration, innovation, and customer success.
During this new era of Dormer Pramet we are focused on delivering certainty to our customers. We want customers to be certain they will get a quality tool, certain they can get the information they need quickly, and certain that we will be there for them to find a solution to their tooling problem.
About Dormer Pramet:
Dormer Pramet is a global manufacturer and supplier of tools for the metal cutting industry. It is a part of the Sandvik Group, a global, high-tech engineering group providing solutions that enhance productivity, profitability and sustainability for the manufacturing, mining, and infrastructure industries. Dormer Pramet’s comprehensive product program encompasses both rotary and indexable drilling, milling, threading, and turning tools for use in a wide variety of production environments. An extensive sales and technical support service operates from 20 offices, serving more than 100 markets worldwide. These are assisted by dedicated production facilities in Europe, Americas and Asia, along with an advanced distribution and logistics network.
Growing roster of government clients now includes U.S. Special Operations Command, Belgium Federal Public Service Finance, UK Cabinet Office, Public Sector Fraud Authority, Mersey Care NHS Trust, and Service NSW Australia
West Point graduate and tech industry veteran, Frank Ignazzitto, joins Quantexa’s group of regional executives to lead U.S. Public Sector efforts
Company continues to strengthen ecosystem partnerships with Microsoft, Databricks, AWS globally and a growing set of specialized consulting and delivery partners
NEW YORK and LONDON, Sept. 09, 2024 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence solutions, today announced it is forming Quantexa Public Sector, a new global business unit dedicated to empowering public sector agencies around the world to transform government services with AI, automation and trusted data. Quantexa is rapidly building a track record of success in the public sector, helping agencies and departments use their cutting-edge Decision Intelligence Platform to better protect and serve more communities while maximizing operational efficiencies.
Quantexa’s achievements in the public sector are being recognized as the company was named one of the top vendors in the inaugural Chartis RiskTechAI 50 2024 ranking and research report. The Chartis RiskTechAI 50 Report ranks global AI solutions in risk technology and has acknowledged Quantexa’s ability to use AI for specialized applications in tax fraud detection and government use cases. In the report, Quantexa technology has been commended in two categories: “Advanced tax fraud capabilities” and “AI for government applications.”
This recognition underlines Quantexa’s industry leading expertise in leveraging AI for specialized applications in tax fraud detection and government use cases.
An expanding portfolio of government clients seeing the benefit of Quantexa’s technology
Earlier today, Quantexa announced that it has signed its first contract with the U.S. federal government through a new deal with the U.S. Special Operations Command (USSOCOM). USSOCOM will deploy Quantexa News Intelligence (QNI), an AI-enabled SaaS solution that provides real-time insights from global news data, to identify and monitor emerging risks and aid in making mission-critical decisions.
This contract comes on the heels of QNI achieving “Awardable” status through the Tradewinds Solutions Marketplace, the Department of Defense’s suite of tools and services designed to accelerate the procurement and adoption of AI/machine learning, data, and analytics capabilities.
USSOCOM is the latest addition to a growing roster of government agencies turning to Quantexa’s Decision Intelligence Platform and solutions to help solve data management, governance, and quality challenges. Other clients include UK’s Cabinet Office, Mersey Care NHS Trust, Service NSW Australia, and Belgium Federal Public Service Finance.
Quantexa public sector clients see success and cost savings achieved across a range of use case scenarios including stopping fraud occurring in tax, grants, and benefits programs, driving more efficient and effective financial crime and criminal investigations, facilitating the safe and secure movement of people and goods across borders, enriching intelligence operations, and proactive patient care efforts within national health programs.
Craig Martin, Fraud Analytics Lead & Head of Programme, U.K. Cabinet Office, said: “Quantexa has helped us narrow in on the right type of fraud – and the right type of fraud technologies – to surface networks of interest that we deem to be very high risk. With the network analytics and entity resolution capabilities that Quantexa provides, we’re not only seeing evidence of opportunistic fraud, but also organized fraud.”1
Meeting public sector demand for data and AI initiatives
Quantexa’s increasing commitment to the public sector comes on the heels of the rapid adoption of AI across government agencies. According to Gartner®, “Global AI software spending in the government market is set to increase 18.0% in 2024 to $41.6 billion and reach $70.6 billion by 2027, with a five-year CAGR of 18.7%. Technology and service providers can use this presentation to support government planning activities for 2024 and beyond.”2 Gartner also predicts that, “By 2025, 95% of decisions that currently use data will be at least partially automated.”2
Empowering investigative teams and healthcare professionals with critical capabilities such as entity resolution and knowledge graph technologies enables them to cleanse, enrich, match, and understand data by connecting siloed sources and visualizing complex relationships in real-world context. The result is the ability to support multiple use cases from one platform that provides exceptional data accuracy, far better-performing AI models, and effective Gen AI, with intuitive user experiences that improves the ability to collaborate and drives greater effectiveness and efficiency of agency resources.
Quantexa Public Sector is led by current senior executives, with recent of appointment of West Point graduate and tech industry veteran Frank Ignazzitto to run the U.S. Public Sector team.
Vishal Marria, Quantexa Founder and CEO, said: “Today, agencies are increasingly turning to AI to break down data silos and drive better quality insights through augmented and automated decision-making. In turn, nations, especially the U.S., are increasing federal spending on AI across professional, scientific, and technical services and defense projects.3 Since our inception, our teams have demonstrated proficiency in helping public sector clients in enhancing productivity, modernizing outdated systems and services, and ensuring the safety and security of citizens. With the formation of our dedicated business unit, we are putting an increased focus on building strong client relations by providing specialized expertise in each region, dedicated customer support, and tailored product innovation that address the specific challenges of government agencies.”
Building a high-impact partner ecosystem
Quantexa is committed to building a high-impact partner ecosystem to support the unique challenges public sector agencies face, including the need for scalable solutions that work with existing IT infrastructure. Composed of partners who bring specialized expertise across secure compute, cloud computing adoption, cybersecurity, and managed offerings, Quantexa works with its trusted industry partners to provide unmatched consulting and technology delivery that enhances operational efficiency, champions innovation, and enables agencies to provide better services to the public they serve.
Technology Partners: AWS, Databricks, Google, Microsoft
Delivery and Consulting Partners: Accenture, Akira Technologies, Brillient Corporation, Capgemini, Deloitte, DXC Technology, IBM, KPMG, PWC, ST Engineering
Quantexa’s Decision Intelligence Platform and solutions are available to government agencies directly through Quantexa or through an expanding set of global contract vehicles and technology marketplaces.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa’s Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.
Akur8 expands core capabilities with strategic acquisition of Arius Reserving Solution.
Bringing the Best Reserving Solution In-House for Unmatched Innovation
PARIS, NEW YORK and ATLANTA, Sept. 09, 2024 (GLOBE NEWSWIRE) — Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its acquisition of Arius®, an award-winning P&C reserving software for insurers and reinsurers, known for its innovative tools and methodologies that help insurers manage risk and improve financial performance. Boasting a robust U.S. presence and a reputation for excellence, Arius’s portfolio includes 150 insurance and consulting clients and over 1,500 users. More than one third of these clients are top-tier carriers in the U.S. and Canada, reflecting its strong foothold in the Tier 1 and Tier 2 market segments. As a trusted partner for insurers, Arius® offers comprehensive reserving capabilities that set industry standards.
The Senior team from Akur8 and Arius
CEO Samuel Falmagne and CCO Brune de Linares from Akur8, with senior leaders Ken Scalf, Principal, P&C Insurance Software Solution and Charles Hoffman, Principal & Director of Software Development from Arius.
Acquired from Milliman, Inc., a premier global provider of actuarial, risk management, and technology solutions, the addition of Arius® expands Akur8’s product portfolio and introduces an innovative actuarial platform that significantly amplifies the value delivered to insurance carriers worldwide. With the combined strength of Akur8 Pricing and Akur8 Reserving, non-life insurance companies can drastically improve the speed, accuracy, and reliability of their core actuarial processes, through a comprehensive suite of tools designed to fully support actuaries and underwriters.
Management Comments
Samuel Falmagne, CEO at Akur8
“The insurance industry faces increasingly complex challenges, necessitating advanced solutions. Actuaries and insurance professionals must navigate changing regulatory environments and ensure accurate reserving while managing risk and maintaining profitability. The Arius acquisition effectively addresses these concerns and is a significant milestone for Akur8. It strengthens our market standing, expands our product portfolio and customer base, and reinforces our strong relationship with Milliman. Our ultimate vision is a fully integrated, next generation pricing and reserving platform that redefines actuarial best practices and combines the strengths of both Akur8 pricing and Arius, providing a best-in-class, comprehensive platform that elevates business performance and competitiveness. We are delighted to welcome the Arius team to the Akur8 family and know that together we will deliver even greater value to our clients.”
Ken Scalf, Principal, P&C Insurance Software Solution at Arius®
“This acquisition combines Arius’s strength in reserving with Akur8’s cutting-edge approach to pricing, empowering us to deliver more comprehensive and forward-thinking solutions to our clients. Together, we can drive significant advancements in the actuarial field and better meet the evolving needs of insurers worldwide.”
Charles Hoffman, Principal & Director of Software Development at Arius®
“Joining forces with Akur8 enables Arius to benefit from their SaaS and AI expertise, accelerating our product development and driving greater innovation for our clients. We’re excited to embark on this new chapter together.”
Dermot Corry, CEO at Milliman
“We have been working with Akur8 for five years as they have developed their pricing tool, and over the course of that collaboration we recognized a significant opportunity for Arius to be paired with Akur8’s pricing software,” said Milliman CEO Dermot Corry. “This is a natural extension of Milliman’s existing relationship with Akur8 and should result in benefits for our shared clients. We are particularly grateful for the contributions of our Arius colleagues and wish them the best of luck as part of Akur8’s impressive team. Milliman increased its equity interest in Akur8 as part of the transaction.”
About Akur8
With this new acquisition, Akur8 serves 250+ customers across 40+ countries, including P&C global carriers AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine and MS&AD; commercial and specialty P&C insurers TMNAS, FCCI, NEXT, Canopius and Canal; and personal and commercial P&C insurers Sura, Mutua Madrilena, Phoenix, GNP Matmut and Western Reserve Group. Over 3000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.
About Milliman
Milliman is among the world’s largest providers of actuarial, risk management, and technology solutions. Their consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at milliman.com.
Akur8 expands core capabilities with strategic acquisition of Arius Reserving Solution.
Bringing the Best Reserving Solution In-House for Unmatched Innovation
PARIS, NEW YORK and ATLANTA, Sept. 09, 2024 (GLOBE NEWSWIRE) — Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its acquisition of Arius®, an award-winning P&C reserving software for insurers and reinsurers, known for its innovative tools and methodologies that help insurers manage risk and improve financial performance. Boasting a robust U.S. presence and a reputation for excellence, Arius’s portfolio includes 150 insurance and consulting clients and over 1,500 users. More than one third of these clients are top-tier carriers in the U.S. and Canada, reflecting its strong foothold in the Tier 1 and Tier 2 market segments. As a trusted partner for insurers, Arius® offers comprehensive reserving capabilities that set industry standards.
The Senior team from Akur8 and Arius
CEO Samuel Falmagne and CCO Brune de Linares from Akur8, with senior leaders Ken Scalf, Principal, P&C Insurance Software Solution and Charles Hoffman, Principal & Director of Software Development from Arius.
Acquired from Milliman, Inc., a premier global provider of actuarial, risk management, and technology solutions, the addition of Arius® expands Akur8’s product portfolio and introduces an innovative actuarial platform that significantly amplifies the value delivered to insurance carriers worldwide. With the combined strength of Akur8 Pricing and Akur8 Reserving, non-life insurance companies can drastically improve the speed, accuracy, and reliability of their core actuarial processes, through a comprehensive suite of tools designed to fully support actuaries and underwriters.
Management Comments
Samuel Falmagne, CEO at Akur8
“The insurance industry faces increasingly complex challenges, necessitating advanced solutions. Actuaries and insurance professionals must navigate changing regulatory environments and ensure accurate reserving while managing risk and maintaining profitability. The Arius acquisition effectively addresses these concerns and is a significant milestone for Akur8. It strengthens our market standing, expands our product portfolio and customer base, and reinforces our strong relationship with Milliman. Our ultimate vision is a fully integrated, next generation pricing and reserving platform that redefines actuarial best practices and combines the strengths of both Akur8 pricing and Arius, providing a best-in-class, comprehensive platform that elevates business performance and competitiveness. We are delighted to welcome the Arius team to the Akur8 family and know that together we will deliver even greater value to our clients.”
Ken Scalf, Principal, P&C Insurance Software Solution at Arius®
“This acquisition combines Arius’s strength in reserving with Akur8’s cutting-edge approach to pricing, empowering us to deliver more comprehensive and forward-thinking solutions to our clients. Together, we can drive significant advancements in the actuarial field and better meet the evolving needs of insurers worldwide.”
Charles Hoffman, Principal & Director of Software Development at Arius®
“Joining forces with Akur8 enables Arius to benefit from their SaaS and AI expertise, accelerating our product development and driving greater innovation for our clients. We’re excited to embark on this new chapter together.”
Dermot Corry, CEO at Milliman
“We have been working with Akur8 for five years as they have developed their pricing tool, and over the course of that collaboration we recognized a significant opportunity for Arius to be paired with Akur8’s pricing software,” said Milliman CEO Dermot Corry. “This is a natural extension of Milliman’s existing relationship with Akur8 and should result in benefits for our shared clients. We are particularly grateful for the contributions of our Arius colleagues and wish them the best of luck as part of Akur8’s impressive team. Milliman increased its equity interest in Akur8 as part of the transaction.”
About Akur8
With this new acquisition, Akur8 serves 250+ customers across 40+ countries, including P&C global carriers AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine and MS&AD; commercial and specialty P&C insurers TMNAS, FCCI, NEXT, Canopius and Canal; and personal and commercial P&C insurers Sura, Mutua Madrilena, Phoenix, GNP Matmut and Western Reserve Group. Over 3000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.
About Milliman
Milliman is among the world’s largest providers of actuarial, risk management, and technology solutions. Their consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at milliman.com.
Akur8 expands core capabilities with strategic acquisition of Arius Reserving Solution.
Bringing the Best Reserving Solution In-House for Unmatched Innovation
PARIS, NEW YORK and ATLANTA, Sept. 09, 2024 (GLOBE NEWSWIRE) — Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its acquisition of Arius®, an award-winning P&C reserving software for insurers and reinsurers, known for its innovative tools and methodologies that help insurers manage risk and improve financial performance. Boasting a robust U.S. presence and a reputation for excellence, Arius’s portfolio includes 150 insurance and consulting clients and over 1,500 users. More than one third of these clients are top-tier carriers in the U.S. and Canada, reflecting its strong foothold in the Tier 1 and Tier 2 market segments. As a trusted partner for insurers, Arius® offers comprehensive reserving capabilities that set industry standards.
The Senior team from Akur8 and Arius
CEO Samuel Falmagne and CCO Brune de Linares from Akur8, with senior leaders Ken Scalf, Principal, P&C Insurance Software Solution and Charles Hoffman, Principal & Director of Software Development from Arius.
Acquired from Milliman, Inc., a premier global provider of actuarial, risk management, and technology solutions, the addition of Arius® expands Akur8’s product portfolio and introduces an innovative actuarial platform that significantly amplifies the value delivered to insurance carriers worldwide. With the combined strength of Akur8 Pricing and Akur8 Reserving, non-life insurance companies can drastically improve the speed, accuracy, and reliability of their core actuarial processes, through a comprehensive suite of tools designed to fully support actuaries and underwriters.
Management Comments
Samuel Falmagne, CEO at Akur8
“The insurance industry faces increasingly complex challenges, necessitating advanced solutions. Actuaries and insurance professionals must navigate changing regulatory environments and ensure accurate reserving while managing risk and maintaining profitability. The Arius acquisition effectively addresses these concerns and is a significant milestone for Akur8. It strengthens our market standing, expands our product portfolio and customer base, and reinforces our strong relationship with Milliman. Our ultimate vision is a fully integrated, next generation pricing and reserving platform that redefines actuarial best practices and combines the strengths of both Akur8 pricing and Arius, providing a best-in-class, comprehensive platform that elevates business performance and competitiveness. We are delighted to welcome the Arius team to the Akur8 family and know that together we will deliver even greater value to our clients.”
Ken Scalf, Principal, P&C Insurance Software Solution at Arius®
“This acquisition combines Arius’s strength in reserving with Akur8’s cutting-edge approach to pricing, empowering us to deliver more comprehensive and forward-thinking solutions to our clients. Together, we can drive significant advancements in the actuarial field and better meet the evolving needs of insurers worldwide.”
Charles Hoffman, Principal & Director of Software Development at Arius®
“Joining forces with Akur8 enables Arius to benefit from their SaaS and AI expertise, accelerating our product development and driving greater innovation for our clients. We’re excited to embark on this new chapter together.”
Dermot Corry, CEO at Milliman
“We have been working with Akur8 for five years as they have developed their pricing tool, and over the course of that collaboration we recognized a significant opportunity for Arius to be paired with Akur8’s pricing software,” said Milliman CEO Dermot Corry. “This is a natural extension of Milliman’s existing relationship with Akur8 and should result in benefits for our shared clients. We are particularly grateful for the contributions of our Arius colleagues and wish them the best of luck as part of Akur8’s impressive team. Milliman increased its equity interest in Akur8 as part of the transaction.”
About Akur8
With this new acquisition, Akur8 serves 250+ customers across 40+ countries, including P&C global carriers AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine and MS&AD; commercial and specialty P&C insurers TMNAS, FCCI, NEXT, Canopius and Canal; and personal and commercial P&C insurers Sura, Mutua Madrilena, Phoenix, GNP Matmut and Western Reserve Group. Over 3000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.
About Milliman
Milliman is among the world’s largest providers of actuarial, risk management, and technology solutions. Their consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at milliman.com.
NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence solutions for the public and private sectors, today announced that it has signed its first contract with the U.S. federal government through a new deal with the U.S. Special Operations Command (USSOCOM). USSOCOM will deploy Quantexa News Intelligence (QNI), an AI-enabled SaaS solution that provides real-time insights from global news data, to identify and monitor emerging risks and aid in making mission-critical decisions.
This contract comes on the heels of QNI achieving “Awardable” status through the Tradewinds Solutions Marketplace, the Department of Defense’s suite of tools and services designed to accelerate the procurement and adoption of AI/machine learning, data, and analytics capabilities.
QNI leverages advanced AI, machine learning, and natural language processing (NLP) to process millions of news articles daily, transforming them into enriched, actionable intelligence. The scale, accessibility, reliability, flexibility, and richness of the news data that QNI provides will strengthen USSOCOM’s data intelligence operations to enable faster and more informed decisions. With QNI, Quantexa will provide USSOCOM with one of its biggest datasets for building intelligence.
QNI provides instant access to news articles from over 90,000 global news publishers that are auto translated into English. QNI ingests, reads, tags, and makes available fourteen articles per second, every second. For USSOCOM and other U.S. Department of Defense agencies, defense-specific category filtering and entity-specific search capabilities will make pinpointing relevant and accurate news exponentially faster and easier than ever before, on a global scale.
“We have proven success in partnering with government agencies around the world to optimize and protect their critical intelligence processes. We are proud to extend this to the U.S. federal government and work in collaboration with USSOCOM to supercharge their advanced analytics,” said Dan Higgins, Chief Product Officer, Quantexa. “With Quantexa News Intelligence, USSOCOM will benefit from AI-enabled decision intelligence technology designed to help identify and monitor risk signals and events from news content. Our platform will minimize repetitive and manual tasks, create automated workflows, and provide ready-to-operationalize data across teams and departments, significantly streamlining operations.”
Quantexa is a trusted partner for government agencies around the world, including the U.K. Cabinet Office, Australia’s Executive Government and one of Europe’s largest tax authorities.
For more information about QNI, please visit here.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa’s Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.
NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence solutions for the public and private sectors, today announced that it has signed its first contract with the U.S. federal government through a new deal with the U.S. Special Operations Command (USSOCOM). USSOCOM will deploy Quantexa News Intelligence (QNI), an AI-enabled SaaS solution that provides real-time insights from global news data, to identify and monitor emerging risks and aid in making mission-critical decisions.
This contract comes on the heels of QNI achieving “Awardable” status through the Tradewinds Solutions Marketplace, the Department of Defense’s suite of tools and services designed to accelerate the procurement and adoption of AI/machine learning, data, and analytics capabilities.
QNI leverages advanced AI, machine learning, and natural language processing (NLP) to process millions of news articles daily, transforming them into enriched, actionable intelligence. The scale, accessibility, reliability, flexibility, and richness of the news data that QNI provides will strengthen USSOCOM’s data intelligence operations to enable faster and more informed decisions. With QNI, Quantexa will provide USSOCOM with one of its biggest datasets for building intelligence.
QNI provides instant access to news articles from over 90,000 global news publishers that are auto translated into English. QNI ingests, reads, tags, and makes available fourteen articles per second, every second. For USSOCOM and other U.S. Department of Defense agencies, defense-specific category filtering and entity-specific search capabilities will make pinpointing relevant and accurate news exponentially faster and easier than ever before, on a global scale.
“We have proven success in partnering with government agencies around the world to optimize and protect their critical intelligence processes. We are proud to extend this to the U.S. federal government and work in collaboration with USSOCOM to supercharge their advanced analytics,” said Dan Higgins, Chief Product Officer, Quantexa. “With Quantexa News Intelligence, USSOCOM will benefit from AI-enabled decision intelligence technology designed to help identify and monitor risk signals and events from news content. Our platform will minimize repetitive and manual tasks, create automated workflows, and provide ready-to-operationalize data across teams and departments, significantly streamlining operations.”
Quantexa is a trusted partner for government agencies around the world, including the U.K. Cabinet Office, Australia’s Executive Government and one of Europe’s largest tax authorities.
For more information about QNI, please visit here.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa’s Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.
