In an exclusive conversation with us, Sateesh Seetharamiah, CEO of Edge Products at EdgeVerve Systems Limited, delves into the intricacies of their latest launch, PolarisEdge, an AI-powered platform that promises to revolutionize digital transformation and create a more connected business ecosystem.
Can you provide an overview of the new AI-powered platform that EdgeVerve Systems Limited has launched? What are its core functionalities and objectives?
EdgeVerve’s newly launched PolarisEdge, an AI-powered platform, marks a significant advancement in digital transformation designed to amplify and enhance the value of enterprises’ digital core investments. By strategically bridging gaps between people, processes, data, and technology silos, PolarisEdge serves as a transformative overlay. It integrates seamlessly with existing systems, enabling businesses to adopt advanced capabilities and providing a Digital Edge that enhances their Digital Core. This integration allows for adopting cutting-edge capabilities without disrupting foundational systems, thereby fostering a more efficient, connected, and innovative business environment.
The platform focuses on three core value propositions:
- Enhancing operational efficiency through digitization and automation
- Amplifying human potential for productivity and human-centric engagement
- Harnessing the power of a connected ecosystem for strategic collaboration and integrated journeys
PolarisEdge exemplifies the potential of the AI-first era, transforming business operations and decision-making processes to create a more efficient, connected, and innovative business environment. Our commitment is to deliver transformative success and innovation, continually evolving PolarisEdge to meet the dynamic needs of modern enterprises.
How does this platform aim to enhance digital transformation in enterprises, particularly in terms of integrating and optimizing existing digital core investments?
PolarisEdge is specifically developed to propel digital transformation in enterprises by optimizing and integrating their existing core digital investments. This platform represents a strategic shift from traditional, siloed approaches to a more cohesive, AI-first model, aligning with the evolving dynamics of modern business environments.
Here’s how PolarisEdge enhances digital transformation:
- By Unlocking Efficiencies at Scale: PolarisEdge digitizes and automates complex business processes, enabling enterprises to achieve a high degree of straight-through processing (STP). This capability is crucial for reducing manual intervention and accelerating transaction times. By streamlining these processes, PolarisEdge leads to significant operational efficiencies and cost savings, transforming the way enterprises operate.
- By Amplifying Human Potential: The platform is designed to augment human capabilities within organizations. PolarisEdge enhances overall business performance and decision-making processes by driving significant productivity increases. It fosters a more human-centric approach in engagements with customers, employees, and partners, thereby improving human interactions’ overall experience and effectiveness within the digital ecosystem.
- By Harnessing the Power of a Connected Ecosystem: PolarisEdge empowers enterprises to create a connected ecosystem, maximizing value for end customers through strategic collaboration and integrated journeys. This interconnectedness is vital for maintaining a competitive edge in today’s fast-paced, digital-driven market. The platform’s ability to connect various aspects of an enterprise’s operations ensures agility and responsiveness, which are key to thriving in the modern business landscape.
How will this platform address operational efficiency and the amplification of human potential within organizations? Can you give examples of the expected outcomes?
PolarisEdge addresses two pivotal aspects in modern enterprises: enhancing operational efficiency and amplifying human potential. Here’s how it achieves these objectives:
Operational Efficiency through Digitization and Automation: PolarisEdge transforms operational efficiency by digitizing and automating complex business processes. This leads to a high degree of straight-through processing (STP), which is crucial for reducing manual intervention and accelerating transaction times. For a global shipping company, it achieved a 50% increase in zero-touch bookings across 12 countries, facilitating a 53% faster turnaround. Such outcomes translated into substantial annual savings and set new benchmarks for operational excellence.
Amplification of Human Potential: PolarisEdge is designed to augment human capabilities, significantly increasing productivity while fostering a more human-centric approach in interactions with customers, employees, and partners. Its application in an American telecom leader’s contract management process resulted in a 60% boost in productivity and $21 million in savings. This showcases the platform’s ability to enhance human decision-making and overall efficiency.
In essence, PolarisEdge’s approach to operational efficiency and human potential amplification is not just about automation but about creating a more efficient, responsive, and human-centric business environment. This approach ensures that enterprises streamline their operations and enhance their workforce’s overall experience and capabilities, leading to improved outcomes and competitive advantages.
What role does artificial intelligence play in this new platform, and how does it facilitate the creation of a connected ecosystem for enterprises?
Artificial Intelligence (AI) in PolarisEdge is a transformative force, enhancing and redefining how enterprises operate and interact within a connected ecosystem. The platform leverages AI in several innovative ways:
- Contextual Sensing: AI in PolarisEdge is adept at sensing the context within which enterprises operate. This involves processing diverse data forms, from unstructured to structured, and making new data observable. Such contextual understanding is pivotal for transforming core processes and journeys, ensuring that digital transformation aligns with real-world business needs.
- Inferential Analysis: The platform’s AI capabilities extend to building various AI models that encapsulate cognitive processes and decision-making patterns. This inferential analysis allows PolarisEdge to derive deep insights and strategies from complex data sets, aiding enterprises in making more informed and strategic decisions.
- Actionable Transformation: AI’s role in PolarisEdge is about driving actionable transformation. This includes facilitating touchless operations through high degrees of straight-through processing, amplifying human potential with actionable insights, and reimagining customer experiences. Such capabilities ensure operational efficiency and innovation at scale.
- Connecting the Ecosystem: AI is instrumental in connecting various endpoints in processes and journeys, encompassing systems, people, and partners. This capability is vital for creating a truly connected ecosystem where seamless collaboration and data exchange are possible, leading to a more integrated and cohesive enterprise environment.
Each core capability of PolarisEdge, powered by AI, manifests functionalities that are crucial for modern enterprises. These functionalities are not just about automation or data processing; they are about creating a synergistic environment where technology and human intelligence coalesce to drive innovation, efficiency, and growth. This AI-driven approach positions PolarisEdge as a pivotal tool in the journey towards becoming an AI-first connected enterprise capable of navigating the complexities and opportunities of the digital era.
Looking ahead, what are the strategic goals for this platform in terms of development, market expansion, and its role in EdgeVerve’s broader portfolio?
As we look to the future with PolarisEdge, our strategic focus is on continuous innovation and enhancing its role within EdgeVerve’s portfolio. We aim to solidify PolarisEdge as a transformative tool in the digital landscape, driving operational excellence and amplifying human capabilities. We’re committed to evolving the platform, ensuring it remains at the forefront of AI-driven solutions, and addressing the complex needs of modern enterprises. Our vision is to create a more efficient, connected, and innovative business environment where PolarisEdge is a key catalyst in realizing the full potential of digital transformation. This approach aligns with our broader mission at EdgeVerve, where we continuously strive to deliver cutting-edge solutions that drive transformative success and innovation for our clients.
How does AI enhance the functionalities of PolarisEdge and enable the platform to deliver superior outcomes?
In PolarisEdge, AI plays a crucial role in enhancing the platform’s capabilities and enabling it to deliver superior outcomes. Here’s how AI contributes to PolarisEdge:
- Contextual Sensing: AI enables the platform to sense the context within which enterprises operate. This involves processing a wide range of unstructured and structured data, making new contextual data observable. Such deep understanding is vital for transforming core processes and journeys in alignment with real-world business needs.
- Inferential Analysis: PolarisEdge uses AI to build various AI models that encapsulate cognitive processes and decision-making patterns across different enterprise tasks. This inferential analysis allows the platform to derive deep insights and strategies from complex data sets, aiding in more informed and strategic decision-making.
- Actionable Transformation: AI in PolarisEdge is about driving actionable transformation. This includes facilitating touchless operations through high degrees of straight-through processing, amplifying human potential with actionable insights and decision support, and driving reimagined experiences. These capabilities ensure operational efficiency and innovation at scale.
- Connecting the Ecosystem: AI is instrumental in connecting various endpoints in processes and journeys, encompassing systems, people, and partners. This capability is crucial for creating a truly connected ecosystem where seamless collaboration and data exchange are possible, leading to a more integrated and cohesive enterprise environment.
In essence, AI in PolarisEdge is about creating a synergistic environment where technology and human intelligence coalesce to drive innovation, efficiency, and growth. This AI-driven approach positions PolarisEdge as a pivotal tool in the journey towards becoming an AI-first connected enterprise.
Considering automation is a key IT theme for 2024, where do you identify persistent gaps in automation within organizations, despite various levels of implementation?
In 2024, automation is expected to be a key IT theme, with many organizations having automated to varying degrees. However, a persistent gap in automation exists due to various silos within organizations. These silos, encompassing data, process, people, and technology, hinder the scaling of automation beyond task-level automation to an enterprise-wide level.
PolarisEdge, as an AI-powered platform, addresses these challenges by breaking down silos. We are breaking silos to achieve significant scaling in straight-through processing. This is possible as we are adding intelligence, extreme digitization, process workflows, and data synchronization to existing task automation. By augmenting existing automation with these technologies, we are truly breaking silos of unstructured data, logged-in documents, human decision-making, human-to-human interactions, and lack of connections in internal and external systems.
This approach enhances operational efficiency and amplifies human potential by enabling more strategic and human-centric engagements. By leveraging PolarisEdge, organizations can move beyond mere task automation to achieve more holistic enterprise-wide automation. This shift is crucial for businesses to adapt to the rapidly evolving digital landscape, enabling them to become more agile, efficient, and competitive in a connected world.
Given the emphasis on connected ecosystems as a key value proposition for PolarisEdge, do you foresee a growing demand for integration and automation within supply chains and broader business ecosystems in 2024?
The world is indeed becoming increasingly interconnected, and ecosystems play a significant role in this evolution. While supply chain integration remains important, the concept of a connected ecosystem in the context of PolarisEdge and broader digital transformation initiatives is about creating synergies across various business functions and external partners. This approach ensures that enterprises are efficient in their internal operations and how they interact and collaborate with external entities, suppliers, customers, or other stakeholders.
I’m Therefore, while there is an anticipated increase in demand for supply chain integration/automation, the focus of a connected ecosystem is much more comprehensive. It aims to facilitate seamless interactions and data flows across all areas of business, driving efficiency, responsiveness, and innovation in a rapidly evolving digital landscape.
