STOCKHOLM, Aug. 16, 2023 /PRNewswire/ -- EvoluteIQ, a leader in end-to-end intelligent business automation for global enterprises, announced the launch of its latest platform release, EIQ 6.0. With enhanced generative AI capabilities, GenIQ delivers a comprehensive AI framework with GenAI integration, designed to enhance functionality, and achieve more productive automation solutions. EvoluteIQ also unveiled GIQ Copilot, a conversational GenAI module that helps citizen developers build any application, forms, rules, and interactions with simple conversational commands.
This latest release of EIQ 6.0 democratizes access to AI offering customers improved ability to integrate generative AI while accelerating application potential. The new enterprise tools empower customers to experience AI-driven automation, enabling scalability, reduced complexity, seamless operations, and cost savings. The flexibility of the EIQ 6.0 platform empowers customers to foster greater innovation and transform their business processes end-to-end.
"With EIQ 6.0, we are helping enterprises unlock new heights of efficiency and productivity by redefining the possibilities of true end-to-end intelligent business automation. The GenIQ release enables organizations to harness the true potential of their data within their firewalls, thus ensuring they create models that are unique to their business and ensure competitive advantage. Our foundational models and generative experiences will drive our customers to explore new possibilities and accelerate business transformation. We believe that the continuous evolution of AI-powered automation holds the power to support our customers and partners to achieve their short and long-term business goals," expressed Sameet Gupte, Cofounder and CEO, EvoluteIQ.
The GenIQ Framework
GenIQ is an all-encompassing AI framework that offers a wide range of capabilities, including text generation, translation, content rewriting, classification, summarization, and information extraction. It is built upon a powerful foundation of pre-trained large language models (LLMs) and generative pre-training transformer (GPT) models, which provide ready-to-use solutions and enable various tasks in the field of natural language processing.
In addition to text generation, GenIQ includes a beta version of image generation, to expand the framework's potential applications and providing users with a broad-based automation solution.
GenIQ not only offers generative AI capabilities, but also offers non-generative LLMs & transformers apart from extending traditional ML models. For instance, NLP nodes for text identification/labelling, extraction, sentiment analysis, and more, are out-of-the-box activities that can be defined under ML flows and used in process, data, or event flows through simple parameters.
GIQ Copilot is a conversational GenAI that serves as an interactive conversational assistant, facilitating the development of diverse applications, encompassing form creation, rule implementation, and interactive functionalities solely through natural language conversations. The Copilot provides diverse text-based generative applications and conversational AI features such as chatbot and question-answering functionalities on existing documents and data.
For example, GIQ Copilot allows customers to easily build an app to automate their onboarding with a Salesforce account using simple instructions given by the user. It integrates with their Salesforce account to build a simple approval-based process flow automating customer onboarding by creating the necessary forms and Create, Read, Update and Delete (CRUD) operations.
Use Cases of GenAI and GIQ Copilot
EIQ 6.0 uses the power of GenAI through LLM and transformer technologies to offer a range of valuable use cases. These include business rule definition through document analysis, development assistance with suggestions and code quality alerts, automated testing, AI-augmented portfolio analysis, chat interface for analytics queries and report generation, and predictive maintenance of processes. EIQ 6.0 builds upon these capabilities, enhancing the overall functionality and providing organizations with more structured and effective intelligent business automation solutions.
The implementation of EIQ 6.0 is expected to yield remarkable benefits for organizations. With advanced technologies, EIQ 6.0 helps achieve a 90% reduction in error rates, ensuring better outcomes and minimizing costly mistakes. Additionally, it drives a significant 97% improvement in customer journey cycle times, and an average of 40% reduction in operational costs.
EvoluteIQ is on a mission to revolutionize and democratize digital business for enterprises with our EIQ Platform. Our integrated intelligent business automation platform empowers organizations to create exceptional user experiences through process orchestration, RPA, data, and event processing, AI/ML, enterprise connectors, and front-end application development. Our user-centric approach ensures that even non-technical users can drive digital transformation with ease, thanks to our intuitive low-code/no-code interface.
EvoluteIQ is supported by Nordea, Confidus VC & Round2Capital, operating globally with headquarters in Stockholm, Sweden, and a prominent presence in the UK, US, and India.
For more information about EIQ 6.0, visit evoluteiq.com.