Artificial Intelligence Company Symphony AI It is reportedly set to go public next year.
The company offers predictive and generative AI tools that help financial services companies spot fraud and retailers gain supply chain insights and is in talks with banks. Initial public offering (IPO), CEO Sanjay Dhawan He told Reuters on Tuesday (July 16).
Symphony is reportedly aiming for an IPO later this year and wants to secure liquidity to fund mergers and acquisitions (M&A), although the timeline is subject to change depending on market conditions.
“Going public is one milestone on the journey,” Dhawan said in the report. “Once we identify use cases that can be disrupted with AI, we will leverage M&A. As a mechanism Our goal is to transform more customers with AI.”
The IPO plans come as SymphonyAI achieves profitability with a revenue run rate of $500 million in 2023. Percentage of About 25 percent, according to the report.
SymphonyAI serves more than 2,000 clients, including Pepsi and Citadel, the report said. Predictive AI is at the core of the company’s services, but Generative AI Features.
“we Very specific “We are leading the industry and developing turnkey solutions, AI-based applications for our enterprise customers,” Dhawan said.
PYMNTS Predictive AI In an interview earlier this year Pecan CEO and Co-Founder Zohar Bronfman.
“Large-scale language models are generally very good at human interaction, data collection, and accessing knowledge and data,” he said in a conversation with PYMNTS in March. AI Effects Series. “These are the greatest technologies in the history of mankind that make knowledge more accessible.”
But Bronfman added that these models were not built specifically to make predictions, which has traditionally been a key aspect of AI.
But by combining the forecasting and data processing capabilities of predictive AI with intuitive, human-centric generative AI interfaces, we can make predictions and accessibility a reality.
“Predictive AI helps us forecast the likelihood of certain future events,” Bronfman says. “LLM makes semantic, or language-related, information available in a very user-friendly way.”
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