Avasant Empowering Beyond Summit 2021: Transcending Digital Avasant is Proud to be a Global Partner at IAOP’s OWS2.0 2020
“Rapidly growing player leveraging recent investments for R&D in end-end domain focused process automation capabilities for specific industries.”
- With the USD 250M funding received from Temasek last year, UST invested in its automation product capabilities and commercialized its cognitive platform, UST SmartOps™, that has been in the development phase for the past 4 years.
- High sales and marketing investments involved in the launch of UST SmartOps™ helped it achieve around 300% YoY growth in the automation client base. The new customers are primarily using this platform at the CXO level.
- Its key industry focus is primarily on retail, healthcare and financial services with business focus on customer service, IT and HR operations. It views an initial wave of opportunity in the US and European markets, while it plans to expand in APAC by augmenting its sales team and leveraging use cases of its existing customer base in India and Singapore.
- In terms of technology, its key priorities include reinforcement learning, ethical ML and interpretability, AutoML, ModelOps and model management, transfer learning and pre-built models, machine comprehension, and generative adversarial network and differential privacy.
Investments & Innovation
- UST Global is developing both industry-specific capabilities (claims automation in healthcare, financial audit automation in financial institutions etc.) and enterprise-level automation (ethical AI in HR) by collaborating with companies with these domain capabilities.
- It has allocated significant budget for enhancing its automation capabilities, including user behavior tracking, autonomous process monitoring, support activity monitoring, business transaction monitoring, business performance monitoring, and fault prediction.
- Additionally, it collaborates with Stanford AI lab to build capabilities in NLP, computer vision, anomaly detection, digital assistants, and reinforcement learning.
- UST Global actively participates in conferences and partner events annually. This includes National Retail Federation Conference 2019 along with Microsoft to showcase UST SmartOps™ use cases targeted towards solving automation challenges for retail customers. It also participated in The World AI & RPA Show and ISG Automation Summit recently and plans to attend partner events, including AWS Reinvent and MongoDB World 2020.
- It offers joint workshops and sessions on solving business challenges with AI, in collaboration with MIT’s Computer Science & AI Labs (CSAIL), to over 1,200 CSAIL research students and 100 faculty members. It also conducts research in computer science and related fields, while educating the students and addressing significant societal problems such as interpretability and explainability of algorithms in key domains.
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