Intellect aims to secure over 50 customers targeting $ 100 million business in next 3-5 years, tailored specifically for Financial Institutions (FIs).
Bengaluru, India – August 13, 2024 – IntellectAI, a business unit of Intellect Design Arena Ltd focussing on cutting edge Artificial Intelligence technologies, announces the launch of Purple Fabric, a pioneering platform that accelerates enterprise AI adoption for financial institutions (FIs). Leveraging the potential of the First Principles Thinking based Composable and Intelligent Open Finance Platform eMACH.ai, Purple Fabric represents the next step in the evolution of AI, advancing from basic automation to Enterprise Connected Intelligence, enabling FIs to achieve substantial business impact.
“Purple Fabric is more than just a platform; it’s a productivity powerhouse that empowers financial institutions to harness AI for real business impact,” said Banesh Prabhu, CEO of IntellectAI. “Our vision is to enable Financial Institutions to seamlessly integrate AI into their operations, achieving new levels of accuracy, speed, and efficiency. With its modular design and advanced AI capabilities, Purple Fabric equips FIs to navigate the complexities of the financial landscape with confidence, paving the way for the future of work through Ethical AI.”
The true power of AI lies in enterprise-connected intelligence. Recognizing this, Intellect leveraged its three decades of domain expertise to develop Purple Fabric—a decision-grade AI platform designed to overcome data fragmentation and silos. The platform emphasizes Ethical AI, addressing data biases and ensuring traceability with a comprehensive audit trail.
Purple Fabric is a groundbreaking enterprise AI platform that transforms enterprise data into actionable AI insights and solutions. By making data RAG-ready (Retrieval-Augmented Generation) and enabling subject matter experts to quickly build and deploy AI-driven solutions, it creates a knowledge bank from six key sources: structured and unstructured enterprise data, policies, market data, and regulatory information, and tacit knowledge. This foundation allows the AI Expert Agent System to achieve precise, goal-driven outcomes with exceptional accuracy and speed. Additionally, Purple Fabric introduces SWARM (Situational Workflow Automation and Rapid Micromodeling) capabilities, enhancing human efficiency through adaptive and responsive automation workflows.
Purple Fabric offers FIs the opportunity to align their AI ambitions with an honest appraisal of enterprise readiness and adopt a modular transformation design journey. There are six powerful Purple Fabric products. PF Imagine, an ultimate AI solution builder for Product Managers to independently design and implement AI use cases without the need for Data Scientists. The PF Govern empowers organisations to maximize Generative AI’s potential while upholding strict governance standards. It addresses 14 key governance issues and provides detailed references for auditing data sources, verifies data integrity, and enforces user management policies. PF DIMS (Document Intelligent Management System) enables enterprises to create AI-based document intelligence and consume it as an API in various applications. This is achieved through a combination of four high-performance technologies – Document Ingestion, Classification, Extraction, and Trusted Data. PF Expert Agent utilises knowledge from various sources to drive actionable intelligence. It is also for the creation of autonomous user journeys with AI nudges and alerts. At a recent AI Bootcamp, five teams built their own expert agents in just three days. PF Triad embodies seven key regulations established by the European Union by ensuring unbiased decisions and recommendations for key enterprise roles. It has been successfully implemented in wealth advisory, complex investigations, and loss runs, setting a new standard for unbiased decision-making in financial services and PF LLM Benchmark assesses coding tasks, reasoning, and language understanding. It includes anonymous battles between LLMs, multi-turn questioning, common-sense reasoning questions, prompt effectiveness evaluation, leaderboards, and more.
![New Delhi [India], January 9: Visually impaired cricketer and captain of Indian Men’s Cricket Team for the Blind Illuri Ajay Kumar Reddy on Tuesday was conferred with Prestigious Arjuna Award from the President of India at a specially organized function at Rashtrapati Bhavan. National Sports Awards are given every year to recognize and reward excellence in sports. Arjuna Award for outstanding performance in Sports and Games is given for good performance over a period of the previous three years and for showing qualities of leadership, sportsmanship and a sense of discipline. Illuri Ajay Kumar Reddy (Blind Cricket) is among the 26 sportspersons who were honoured with Arjuna Award for outstanding performance in Sports and Games 2023. The Ministry of Youth Affairs & Sports last month had announced the National Sports Awards 2023. The nominated stars received their awards from the President of India. “I am overwhelmed with this recognition. I dedicate this award to my Parents and Family members for their support. I also would like to thank Cricket Association for the Blind in India (CABI) and all the players with whom I have played,” Ajay Reddy said in a statement. Congratulating Arjuna awardee Dr Mahantesh G Kivadasannavar, Chairman- Cricket Association for the Blind in India (CABI) said “It is an honour and proud moment for all the blind cricketers across the world. It is the good recognition for the hard work and dedication in taking Cricket for the Blind to the next level through various achievements by the Indian Men’s Cricket Team for the blind under the leadership of Ajay Reddy. CABI is happy that cricket for the blind is getting the recognition with other major sports.” Following the Award ceremony, Illuri Ajay Reddy, the chairman of the Cricket Association for the Blind in India (CABI) Dr Mahantesh G Kivadasannavar and CABI secretary Shailender Yadav also met Indian pacer Mohammad Shami. Shami is also among the 26 sportspersons who were honoured with Arjuna Award on Tuesday. Illuri Ajay Reddy is currently working in SBI regional office in Bangalore. He is a B2 category player, who is representing India since 2010. He has been part of winning two ODI World Cups, 3 T20 world cups, 1 Asia Cup. Ajay is the captain of the Indian cricket team for the blind since 2016. Under his captaincy Team India has won 1 ODI world cup, 2 T20 world cups, 1 Asia Cup and the Silver Medal in IBSA World Games and many bilateral and triangular Series. Cricket Association for the Blind in India (CABI) acknowledges the great support received from the Ministry of Youth Affairs & Sports through this award. The continuous support and patronage received from the esteemed ministry has helped CABI to achieve this milestone.](https://thisweekindia.news/wp-content/uploads/2024/01/Arjuna-Award-to-Ajay-Kumar-Reddy-Captain-of-Indian-Blind-Cricket-Team-thisweekindia.png)
