Kx wins utilities contract in partnership with App Orchid
(31 January 2019) Kx announces that, in partnership with App Orchid (AO), it has been selected by a major, US-based Fortune 500 utilities company to deliver a next-generation real-time data platform. The contract win follows the recent signing of a partnership agreement between Kx and AO, a leading AI-based platform provider, to deliver solutions incorporating Kx technology.
In partnership with Kx, the AO platform will be able to analyze data extracted from IoT devices, business, and operational technology systems to create business applications using artificial intelligence and natural language processing. In addition to operational analytics, it can be used for analyzing the utility’s infrastructure risks in near real-time. As a result, the customer expects to achieve cost savings while lowering operational risk.
Kx technology is powered by the world’s fastest time-series database, kdb+, which is used for large-scale streaming, real-time and historical data analytics. Utilities today are increasingly turning to time-series data platforms to analyze these types of data, in addition to batch data. With Kx, they gain the advantage of speed when performing complex analytics.
Gartner research has found that organizations today are only using a small portion of the analytics data they already possess. Using Kx technology, AO’s platform enables clients to access and utilize the full scope of their data and utilize sophisticated AI and IoT applications, unlocking key solutions to solve enterprise problems.
Krishna Kumar, CEO and Founder of App Orchid, stated “Intelligent enterprises of tomorrow will need to operate at the speed of thought, supporting infinite query flexibility and comprehension of natural language. Our partnership with Kx provides AO with deep learning engines while ensuring low latency and high throughput. Our initial estimate shows that this unique technology has improved our speed of training neural nets by four times.”
Brian Conlon, CEO of Kx, commented: “The pace of AI adoption is increasing rapidly and Kx’s real-time, low latency capabilities are key to unlocking the benefits. Powered by Kx, App Orchid’s innovative software creates a path for enterprises to realize the productivity gains promised by AI. Our partnership with App Orchid, coupled with our first joint contract win, provides a glimpse of the potential.”
Kx is a division of First Derivatives (FDP.L), a global technology provider with 20 years of experience working with some of the world’s largest finance, technology, retail, pharma, manufacturing and energy institutions. Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 14 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,600 people worldwide.
About App Orchid
App Orchid helps enterprises build AI fueled apps for the Energy, Utilities, Insurance and Healthcare industries. The App Orchid platform uses deep learning and Natural Language processing with industry specific content delivered through knowledge graphs, to create powerful predictive apps. App Orchid blends historical and real time, structured, unstructured and employee “tribal” knowledge data to deliver a breadth of enterprise apps including pre-built solutions such as Safety360, Customer360 and Claims360. The Big Data based in-memory technology helps to identify patterns, risks and opportunities previously impossible with traditional analytical tools. A natural language powered User Experience interface makes information retrieval as simple as using Google. App Orchid helps enterprises achieve their digital transformation objectives easily through rapid deployment, low cost implementation and minimum disruption across their organization.
For more information, please visit www.apporchid.com.