MADRID, July 4, 2023 /PRNewswire/ — Launched today by leading Generative AI Data Fabric specialist Stratio BD, Stratio Gen-AI is a world-first generative AI engine designed to solve one of the biggest data management issues facing businesses – giving any worker easy, quick, and secure access to any information they require regardless of technical know-how.
The technology utilises a Large Language Model (LLM) with a user experience similar – but unrelated – to that of globally successful ChatGPT, enabling it to deliver information and data insights in easy-to-understand, human language, as well as understanding varying user language. This includes anything from various native tongues to different technical and literacy abilities, in order to provide the most relevant and accurate response.
This also ensures any user in all departments can effectively ask any question and Stratio Gen-AI will provide the answer instantly, rapidly improving productivity while enhancing each department’s ability to make informed decisions based on insightful data. For example, it eradicates the need for teams to download multiple reports from different applications and amalgamate them into a single spreadsheet, as well as avoiding the often lengthy waiting time it takes for data analysts to compile reports.
The new conversational tool is the final piece in the puzzle for Stratio BD’s vision to democratise data with its Generative AI Data Fabric offering: an AI-driven, end-to-end data management product designed to break down traditional barriers to data access, enabling businesses to simplify data analysis, automate tasks, and ultimately make better, more informed decisions that benefit the bottom line.
Oscar Mendez-Soto, CEO and Founder of Stratio BD said: “No matter what department you work in, whether it’s sales, HR, legal, marketing, or operations, your work will always be governed in some way by the most up-to-date and accurate data available to you. The Stratio Gen-AI engine is revolutionary for businesses as it empowers teams to use insights that would otherwise be either inaccessible, incomplete, or only possible for a data scientist to retrieve and understand. The use cases for how businesses can utilise this tool to improve and streamline operations are immeasurable.”
From day-to-day questions a manager would otherwise ask their team, to the more complex that would require a full data report from the technical teams, Stratio Gen-AI cuts out any obstacles for users to maximise their performance while reducing the need for administrative reporting. For example: sourcing a sales forecast; identifying the company’s most popular products that month; or forecasting which customers are a flight risk, are now all possible by asking a simple question to Stratio Gen-AI.
Often, businesses struggle to obtain true meaning from data as it is stored in siloed locations or across multiple applications. But because Stratio Gen-AI sits above a unified business data layer created by Stratio BD’s Generative AI Data Fabric product, the engine is able to access all of a company’s data in one view and simultaneously get an answer which is understandable in context to the business.
Stratio Gen-AI is a closed-source interface that businesses can safely use without any risk to data security as the data does not leave the company’s systems. Equally, thanks to the governance and role-based access to data already enabled by Stratio BD’s data governance module, users of the Stratio Gen-AI can only access data that is relevant and unrestricted to their position in the business.
The tool uses deep learning techniques to understand, summarise, generate, and make forecasts from large data sets. In particular, enterprises that stand to benefit the most are those that normally handle large volumes of data at scale, such as the financial, manufacturing, retail, telco, the public sector, and health and life sciences.
The engine is now available and in high demand, with a number of Stratio BD’s clients within the financial industry already starting to use the tool, including household name, high-street banks.
The news comes as the Spain-headquartered company launched regional offices in both the UK and France earlier in 2023 as part of ambitious worldwide expansion plans, now with more than 500 employees in seven countries.
Founded by entrepreneurs Óscar Méndez Soto and Ernesto Funes in 2014, Stratio BD’s clients include major corporate enterprises such as Santander, HSBC, BBVA, and Carrefour. The company is recognised by analysts such as Gartner and Forrester as international leaders in the data fabric space, and last year completed its Series C funding worth EUR 65 million while also achieving 40 per cent growth.
Oscar concluded: “Crucially, this technological leap is only possible because of the incredible capabilities of our market-leading data fabric product. Generative AI cannot understand or manage technical data unless it is available in a unified business layer and given business meaning through ontologies. Our Stratio Gen-AI product does this best, which is why we are in prime position to pioneer this technology for our clients.”
For more information visit http://stratio.com/gen-ai
About Stratio BD:
Generative data fabric specialist Stratio BD was founded in 2014 by fellow entrepreneurs Óscar Méndez Soto and Ernesto Funes. The Madrid, Spain-headquartered company was created to help businesses fully harness the power of data fabric and AI. Stratio BD’s Generative Data Fabric product provides businesses with composable data management solutions, enabling governance, virtualisation, advanced analytics, and AI to multiply the productivity of companies that use it, reducing costs and time to a fraction of what they need. The product provides a range of functions, including simplifying data understanding for business users, providing knowledge graph representations, applying AI algorithms to augment data management tasks, and automating manual AI development.
Last year, Stratio BD completed its Series C funding worth EUR 65 million, led by InfraVia with participation from Adara (A and B-Series investor) and the founders. The company had reached critical mass in its historic markets of Spain and Latin America and is now leveraging the round proceeds to fund commercial expansion across Europe. Stratio BD was named Gartner’s Cool Vendor in Data Management in 2021 for its innovative generative data fabric platform.
Stratio BD’s Generative AI tool, Stratio Gen-AI, is designed to assist businesses in generating answers and insights based on their available data. Stratio Gen-AI is provided by Stratio BD solely as a technology solution. The use and utilization of the tool, as well as any decisions made based on its outputs, are the sole responsibility of the customers. Stratio BD does not guarantee in any way that the tool will operate without errors or problems. It is important to note that Stratio BD cannot guarantee the accuracy, completeness, or reliability of the results and answers generated by Stratio Gen-AI. The interpretation and use of these results are solely the responsibility of the customers. Stratio BD shall not be held liable for any loss of business, damages, or consequences arising from the use of our solution. Customers are responsible for ensuring the quality and suitability of their data and for making informed decisions based on the outputs provided by our tool.
SOURCE Stratio BD