New York, NY (04/23/2020) - In its first contract in the government space, Accrete.AI is pleased to announce the award of a multi-million dollar contract from the Defense Innovation Unit (DIU) to build an artificial intelligence solution that boosts the efficiency of supply chain security analysis. Accrete.AI’s winning solution leverages proprietary technologies to power an application that reads, understands, learns and adapts dynamically to changing contexts.
“We are excited to bring Accrete’s commercially proven dynamically learning AI technology to the Defense Innovation Unit to help them accomplish difficult and critical missions,” said Bill Wall, CEO of Accrete AI Government, the government facing subsidiary of New York City based Accrete.AI.
“Having served in the military myself as a Special Forces officer for over twenty years, I truly understand the need for reliable and innovative technology that can self-learn and adapt to dynamically changing environments to enable our service members to be successful. Our first contract with DIU is just the beginning of a brighter future for us bringing the power of Accrete’s AI solutions to government use cases.”
ABOUT DEFENSE INNOVATION UNIT
The Defense Innovation Unit (DIU) is a fast moving Department of Defense organization that contracts with commercial companies to solve national security problems. The DIU awards scalable contracts to companies offering solutions to national security challenges across a variety of technology areas. DIU is the only Department of Defense organization focused exclusively on fielding and scaling commercial technology across the U.S. military to help solve critical problems.
Founded in 2017, Accrete.AI is an artificial intelligence company that designs modular dynamic learning technologies called Knowledge Functions that scale tacit knowledge. Knowledge Functions enable machines to read, understand, learn and adapt in specialized ways with human-level accuracy, boosting analytical productivity across a variety of domains. Accrete’s Knowledge Functions are seeded with mathematical representations of human knowledge and dynamically recalibrate neural architectures in real time with minimal feedback, resolving issues related to catastrophic forgetting. Accrete’s Knowledge Functions are helping leading enterprises in industries ranging from finance to music solve real world problems such as accurately filtering self-promotion and bots to identify authentically engaged users in social chatter; gauging influence to predict the viral potential of user generated content; tracking propagation and source reliability of rumors; and more.
Backed in part by Dr. David Magerman, who helped found the equities trading group at the world-leading quantitative hedge fund Renaissance Technologies, Accrete.AI began by building and licensing smart applications to financial analysts to help them predict market-moving merger and acquisition rumors and transcribe and analyze scores of earnings calls simultaneously in real time with human level granularity and accuracy. Accrete.AI has since expanded its stable of Knowledge Functions to build and license smart analytical tools across a variety of industries beyond financial services such as defense, real estate, music, healthcare and collectibles.
According to Prashant Bhuyan, Founder and CEO of Accrete.AI, “Much of what is marketed as artificial intelligence today is static machine learning which fails to perform in complex, dynamically changing environments like finance, music and defense. The problem with static machine learning is that it requires inordinate amounts of human effort to constantly retrain models every time the general narrative evolves and the context changes. At Accrete, our world class team is building dynamically learning technologies to capture and scale tacit knowledge and solve an entirely new class of information complexity problems. Our mission is to boost analytical productivity and revolutionize the nature of work.”