Prestigious International Annual Awards Program Honors Standout AI and Machine Learning Solutions and Companies
NEW YORK, June 23, 2022 /PRNewswire/ -- Devron, the leader in data science for distributed and private data, today announced that it has been selected as the winner of the "Best AI Solution for Big Data" award in the fifth annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global Artificial Intelligence (AI) market today.
Devron's federated machine learning platform enables data science teams to build and train superior AI models and predictive analytics on distributed data without the cost and risk of centralization. Instead of bringing the data to the model, it brings the model to the data—training algorithms where the data resides. It also bypasses certain regulatory, data sovereignty, and privacy limitations by eliminating the need to move data from its source.
Analyst firm Gartner forecasts that by 2025, 80% of the largest global organizations will have participated at least once in federated machine learning to create more accurate, secure, and environmentally sustainable models.
With Devron's solution, data science teams no longer need to waste time, effort, or money centralizing data, significantly reducing ETL efforts, lead times, and infrastructure overhead. They also no longer need to wait to gain access to data or worry about anonymizing or redacting sensitive information.
Devron enables private and public sector organizations to be more effective and competitive, such as through understanding and responding to customer behaviors, identifying and reducing risk, and pinpointing operational inefficiencies. Devron's underpinning technology and capabilities are also seen as key to cross-organizational and jurisdictional solutions such as those highlighted in the initiative recently launched by the US and UK governments to combat money laundering.
"Our mission is to facilitate smarter business decisions. We do this by empowering data science teams to focus on answering important business questions instead of moving mountains of information," said David Murray, Chief Business Officer of Devron. "By unlocking access to more data, data science teams can build better models and realize superior insights faster. We are proud and honored to receive this recognition of the value of our technology."
"Traditional AI development requires data to be duplicated, moved, and centralized before AI models can be trained and value can be derived," said James Johnson, managing director of AI Breakthrough. "Devron has established a new AI and data science paradigm to address this challenge, helping companies realize the full potential of AI while setting a new standard for data privacy. Devron's innovative platform considers the nature of data today, uncovering untapped innovation and business value in distributed data. We congratulate Devron on being our choice for the 'Best AI Solution for Big Data' award."
The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of AI and machine learning-related categories, including AI platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry-specific AI applications, and many more. This year's program attracted more than 2,950 nominations from over 18 countries worldwide.
Devron is an advanced data science and machine learning technology company that unlocks trapped value and exposes hidden business insights without compromising data privacy. Its innovative federated machine learning platform enables data scientists to keep their datasets where they reside without duplicating and centralizing data. Backed by a consortium of institutional investors, led by Tiger Global and including FinTech Collective, Afore Capital, and Essence Venture Capital, the business was founded by a former undercover CIA intelligence officer, Kartik Chopra. Devron is headquartered in New York City. For more information, visit www.devron.ai.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies, and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Vision, Biometrics, and more. For more information, visit AIBreakthroughAwards.com.