Listen to this articleBelow is our recent interview with Rick Parimi, CEO of Alexis Networks:
Q: Could you provide our readers with a brief introduction to Alexis Networks?
A: Alexis Networks, we call it Alexis, is an innovator. Innovation is at the core of our culture along with customer commitment, adaptability and kaizen make up our core values. We know that every industry is different and every market segment is unique. Companies, big and small are looking at Artificial Intelligence and Blockchain to create disruptions. To quote Clay Christensen of Harvard University, Alexis is packaging technology innovation to empower companies to embrace and mechanize disruptive innovation that is creating a new markets and value networks – some large and others micro. The team at Alexis Networks, has a sense of pride that we get from making our clients satisfied, which is a result of constantly thinking out of the box, designing, and engineering extremely high value solutions. With Alexis, companies are finding that is it lot more economical and significantly less risky than to invest in finding and retaining top talent with skills in AI or ML or Blockchain.
Q: Rick, let’s start with your background. What were you doing before Alexis Networks?
A: After enabling Revenue growth via Big Data, Artificial Intelligence, Data Science and Blockchain for many Fortune 500 companies, I decided to work with like-minded people who are passionate about solving tomorrow’s problems today. I was blessed to have received my leadership training at IBM, where I authored seven software patents for IBM. Prior to IBM, I worked at a B2B start-up and GE’s Center for Research and Development. I was always surrounded by brilliant people who were highly accomplished in their fields of work. After being in management consulting and then a series of corporate leadership positions, I always felt a void within myself – that I am not quite doing what I really want to do. Along the way I went and got my MBA from NYU Stern School of Business and a Fellowship from the Harvard University’s T. H. Chan School of Public Health. So, after talking with my wife, I decided to take Alexis as the opportunity that I want to own and ride for the future.
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Q: Can you give us insights into your solutions?
A: There is no doubt that technologies such as Tensorflow, Karas and OpenCV re prevalent today in the realm of AI and ML. A quick search on Indeed.com will show you that it is fairly easy to find talent that can develop using these technologies. Maybe not a lot of open talent out there – but one can find some, with a fair degree of recruitment due diligence. But that’s not it with hiring top talent. One then needs a Data Scientist, which is a different skills set than that of an engineer. Further, the developed solution needs to be packaged into digital goods so that it has the ease of use. Companies today have good mobile integration capabilities within their four walls or they have a reliable mobile integration partner. But what is missing is a team than can package AI into a digital good. Alexis lets you Build Your Own AI solution using our AI As A Service. One core piece of innovation that Alexis AI As A Service offers is an Anomaly Engine that will go through vast amounts of all kinds of data and tell the business user about the Red Flags in real-time with playback ability.
Q: What are the main benefits of your Single Stack solution?
A: There are two main advantages that we offer today.
(1)Anomaly Engine that is tailored for every industry – we currently serve Transportation, Healthcare and Financial / Banking. The anomaly engine is core to our solution and depending on your industry we offer the right fit anomaly engine. We also enhance and custom fit the anomaly engine for your business problems.
(2)Plug N’ Play with Bring Your Own Data – this is a web-based solution where you use Alexis with bringing your own data in a super easy to use manner, without any engineering effort from your side. We have built this in a fashion that lets you embed this into your technology stack, thereby eliminating the threats of leakage of PHI or PII data.
Companies are looking at Alexis to provide the proven tailored solutions using our proprietary AI As A Service solution that is specifically designed for business analysts – from marketing, sales and operations groups. The other advantage of using Alexis is that a company with zero development expertise on AI and ML will have a beta launch purely using their business skilled people resources.
Q: Which types of businesses can use your solutions? Which industries?
A: Alexis is working with a dozen companies across financial and banking, healthcare, and transportation. We have designed Alexis Networks’ solution for the business user. Business users are savvy to find what work, what does not work, and want to do rapid fire data investigations to prove or disprove a hypothesis. With the increasing trend where the Data Scientist role is beginning to reside within the business groups, we are seeing that Alexis is acting as a trusted digital partner. Our Anomaly Engine, which is proprietary by the industry, is configurable by the business users. Businesses are using and get to use our intellectual property that is licensed as part of the subscription fee that we charge for the use of Alexis Networks. We have started subscription plans for everyone. For smaller businesses we offer month to month or pay-as-you-go subscription model, for mid-size companies we offer semi-annual subscription plans payable monthly and for larger businesses we offer annual subscription plans.
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Q: What can we expect from Alexis Networks in 2020?
A: 2019 was the first year for Alexis and we have made very good strides. We will continue to remain privately owned and not yet seeking external investment. 2020 will be the year when Alexis will be not only revenue generating but also profitable for our employees. Alexis does not outsource its development and everything we do is in-house – here in the USA – including support of our AI As A Service solution for our customers. We have strategically advanced on AI and ML in Phase One and our Phase Two will be Blockchain. We are well positioned to expand providing solutions for other markets such as life sciences. But our primary focus is to strengthen our position. By that I mean our internal staffing and continued development of our proprietary solutions.
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