TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), announces that it will develop AI-based solutions tailored for the Field Service Management (FSM) industry for integration under the Company’s partnership with global enterprise software vendor IFS, as well as other FSM software solutions providers.
AnalytixInsight, through its wholly-owned subsidiary, Euclides Technologies Inc. (“Euclides”), has been working collaboratively with IFS to design and build machine learning and deep learning solutions that are designed to improve Workforce Optimization and Scheduling in the FSM industry. The initial design of these solutions is targeted to meet the needs of customers in the Energy and Utilities industry verticals using cybernetic methods of human-machine intelligent interaction.
The complexity of customer services challenges, particularly in the utility industries, necessitates improvements in automated service operations to keep pace with change and volatility. Unpredicted demand for varying service types, on-site inventory, multiple activities, or skill-matched tasks, are examples of the daily challenges the FSM industry is required to manage. Utilizing machine learning algorithms to learn from past experiences to predict future probabilities is an enabler for more efficient management, less downtime, accelerated order processing, and more. Machine learning algorithms based on cybernetics will facilitate insightful learnings from the data currently generated by the FSM industry.
Euclides first joined the IFS Partner Network in 2018. That collaboration has allowed both companies to gain greater knowledge of how machine intelligence and data analytics solutions can be effectively applied within the FSM industry. Euclides expects to deploy this new platform solution to enterprise clients during 2021 and expects to elevate its IFS Partnership status with this new initiative.
Prakash Hariharan, President & CEO of AnalytixInsight, commented: “We are excited about the opportunity to develop AI-based solutions for the FSM industry as a new industry vertical. We have already proven our AI expertise in the financial services industry, and we have now gained a solid understanding of the FSM industry through our subsidiary, Euclides, which has decades of industry experience. Large utilities are now ready to embrace AI as they seek to enhance the efficiency of their workforce, especially in a post-COVID environment.”
Workforce Optimization is a strategy used in businesses to improve efficiency by providing key data on the performance of a workforce. It is considered the next logical move to analyze and manage operational efficiency to enhance the customer experience. Machine intelligence and data analytics are the cornerstones of Workforce Optimization. Organizations with field service personnel are increasingly seeking innovative technology solutions to optimize workflow and improve efficiency of on-site visits. AnalytixInsight believes the use of advanced analytics based on cybernetic methods of human-machine intelligent interaction in the Field Service Management industry is a growing trend and the Company is pursuing smart work applications to address this industry need.
ABOUT IFS
IFS develops and delivers enterprise software for customers around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. The industry expertise of our people and solutions, together with a commitment to delivering value to every one of our customers, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of 4,000 employees and growing ecosystem of partners support more than 10,000 customers around the world challenge the status quo and realize their competitive advantage. Learn more about how our enterprise software solutions can help your business today at ifs.com.
ABOUT EUCLIDES
Euclides is an AnalytixInsight company, designing and implementing Workforce Optimization solutions for large global enterprises. Euclides has partnered with IFS, a global enterprise software vendor for field service management. Euclides is led by experts with decades of specific industry experience, and worldwide customers representing over 100,000 workforce personnel across multiple industries. Euclides has a deep understanding of the increasing amount of data generated within the workforce management industry, as well as the analytics solutions required to transform that data into knowledge. As an AnalytixInsight company, Euclides is designing and developing machine intelligence solutions for workforce optimization. Euclidestech.com
CONTACT INFORMATION:
Scott Urquhart
AnalytixInsight Inc.
Scott.Urquhart@AnalytixInsight.com
Adi Hod
Euclides Technologies Inc.
Adi@EuclidesTech.com
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc. is an Artificial Intelligence, machine-learning company. AnalytixInsight’s financial analytics platform CapitalCube.com algorithmically analyzes market price data and regulatory filings to create insightful actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight also designs and implements Workforce Optimization solutions for large global enterprises. AnalytixInsight holds a 49% interest in MarketWall, a developer of FinTech solutions for financial institutions. AnalytixInsight.com
Regulatory Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s and Euclides’ business operations; the performance of Euclides and the Company’s ability to develop AI-based or machine intelligence solutions for the Field Service Management industry; the impact on the Company from the partnership agreement with IFS; and the Company’s future performance. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Source:
AnalytixInsight Inc.2020 GlobeNewswire, Inc., source Press Releases
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