Tredence’s gen AI platform attracts top clients, fuels enterprise AI adoption

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Tredence, a company that provides AI and data analytics, is rapidly gaining traction with its GenAI-as-a-Service platform, signaling a shift in how enterprises are approaching generative AI adoption. The platform, which has already secured a top-five global consumer packaged goods (CPG) company as a client, aims to democratize access to generative AI technologies and help businesses overcome the challenges associated with developing and deploying gen AI solutions at scale.

The platform shows up at a pivotal moment for the enterprise AI market, as organizations are expected to increase their gen AI budgets by 3.4 times, according to a recent report by IBM. However, many businesses struggle with the complexity, costs, and ethical considerations surrounding the adoption of generative AI. Tredence’s generative-AI-as-a-Service platform seeks to address these pain points by providing a comprehensive suite of tools and services designed to streamline the end-to-end gen AI development and deployment process.

“Our gen AI-as-a-Service platform empowers enterprises to accelerate their AI transformation journey and achieve transformational results,” said Shub Bhowmick, CEO and co-founder of Tredence, in an exclusive interview with VentureBeat. “By leveraging our platform, the CPG company has reduced solution development costs by 40% and operational costs by 25%, demonstrating the significant value our platform delivers.”

A comprehensive approach to enterprise AI adoption

The gen AI-as-a-Service platform offers a range of features, including end-to-end gen AI solution deployment, large language model (LLM) infrastructure optimization, accelerators for building LLM models, and responsible AI governance. These capabilities are designed to help enterprises navigate the complexities of gen AI adoption, from data integration and model development to ethical considerations and cost optimization.

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“Our platform includes tools and features to implement and measure responsible AI principles, ensuring the fairness, transparency, and accountability of gen AI solutions,” Bhowmick explained. “We recognize that the rapid advancement of generative AI has raised concerns about potential misuse and unintended consequences, and we are committed to helping our clients deploy these technologies in an ethical and responsible manner.”

Tredence’s approach to enterprise AI adoption extends beyond its gen AI-as-a-Service platform. The company has a proven track record of helping clients across various industries, including retail, CPG, banking and financial services, and healthcare, to modernize their data infrastructure and deploy AI-driven solutions. By combining its deep industry expertise with cutting-edge AI technologies, Tredence has delivered significant business value to its clients.

“We work with clients across industries to help them migrate and modernize their data and deploy prescriptive and generative AI solutions across their businesses,” said Bhowmick. “Examples of our impact include reducing shrinkage by $15 million for a major convenience store chain, improving forecasting accuracy by 10% for a Fortune 100 CPG company, and generating $13 million in new revenue for the world’s largest hotel chain by understanding post-pandemic travel needs.”

Driving innovation through strategic partnerships

Tredence’s success can be attributed, in part, to its strategic partnerships with leading technology companies such as Databricks, Azure and Google Cloud Platform. These collaborations have enabled Tredence to co-innovate more than 20 industry solutions that have been widely adopted by clients, spanning demand forecasting, personalization, supply chain modernization, revenue growth management, on-shelf availability, and value-based care.

The company has also secured significant funding, raising $205 million across two rounds, with investments from Chicago Pacific Founders and Advent International. This funding has allowed Tredence to expand its global presence, acquire new expertise, and invest heavily in research and development.

Looking ahead: Growth, acquisitions, and an IPO

Looking ahead, Tredence plans to maintain its strong growth trajectory by pursuing a targeted acquisition strategy and exploring the potential for an initial public offering. The company also aims to drive the adoption of its ATOM.AI platform and accelerators, which have been instrumental in helping clients solve complex business problems by integrating data, cloud, and AI solutions.

To support its commitment to ethical AI practices, Tredence has established a gen AI Center that provides guidance, use cases, and skill development. This initiative underscores the company’s dedication to driving positive change in the industry and ensuring that the benefits of generative AI are realized responsibly.

As the demand for generative AI solutions continues to grow, Tredence is well-positioned to capitalize on this trend. With its innovative gen AI-as-a-Service platform, strategic partnerships, and commitment to ethical AI practices, Tredence is poised to become a major player in the enterprise AI market, helping businesses unlock the full potential of generative AI while navigating the complexities and challenges associated with its adoption.