This event – ai.lcy will feature keynote from New York Times best-selling author Kenneth Cukier to explore how AI has revolutionised business strategy

LONDON, Feb. 13, 2019 /PRNewswire/ – – Fractal Analytics, (www.fractalanalytics.com), a global leader in AI solutions that power human decision-making in Fortune 500 companies, today announced ai.lcy, its first AI event to be held in London.

The event, which is the third of a series, includes a number of informative sessions and roundtable discussions, and will be hosted at The Langham Hotel on February 20th. The agenda is packed with thought-provoking discussions from industry experts and guest speakers as to how FTSE 250 companies can address problem-solving at scale through a combination of AI, engineering and design.

The event’s keynote speech, on how AI has revolutionised business strategy, will be delivered by Kenneth Cukier, Economist Senior Editor and co-author of New York Timesbest-seller ‘Big Data: A Revolution That Transforms How We Live, Work and Think’. Other sessions will provide hands-on advice on topics such as: where and why to use AI to solve organisational problems created by lack of resources; and how to build data pipelines to enable AI and scale algorithms to power decisioning in the enterprise. Find more information on the agenda and speakers here.

“AI is here. It is real and is evidently transformative, but AI alone is ‘Arguably Insufficient‘ to tackle enterprise problems at scale,” explains Sankar Narayanan (SN), Chief Practice Officer, Fractal Analytics.

“We’re excited to bring our Artificial Intelligence conference (ai.lcy) to the city of London. At this event, participants will be able to share experiences and learn from peers on how enterprises can harness the boundless capabilities of AI to address the complex challenges they face. We’ll be showcasing how leaders can drive better decisions when operating at scale by bringing together AI, engineering and design.”

Since 2000, Fractal Analytics has been a leading provider of AI and analytics solutions for the world’s largest companies, powering human decision-making across the globe. Fractal has more than 1,200 consultants in 15 global offices in the United States, Europe and Asia.

To review the full agenda and complete list of speakers for ai.lcy, or to register for the event, visit: https://fractalanalytics.com/ai-london/

About Fractal Analytics:

Founded in 2000, Fractal Analytics is a strategic analytics partner to the most admired Fortune 500 companies globally and helps them power every human decision in the enterprise by bringing analytics and AI to the decision-making process.

Fractal has built several cutting-edge AI product startups within its ecosystem across industries, including:

  • Qure.ai to transform how radiologists make diagnostics’ decisions. Qure’s qXR solution is the first AI-based Chest X-Ray interpretation tool to receive CE certification. Qure’s recently-launched qER solution for interpreting head CT scans has been proven to have more than 95% accuracy in identifying abnormalities.
  • Cuddle.ai to transform how executives make tactical and operational decisions. Cuddle automatically alerts users on what they need to know about their business and allows them to ask questions about their business in natural language.
  • Trial Run to improve strategic and operational decisions. Trial Run is a cloud-based experimentation platform that enables companies across verticals to test, measure and refine strategies before rollout.

Fractal has more than 1,200 consultants spread across 15 global locations including the United States, UK and India. Fractal has been featured as a leader in the Customer Analytics Service Providers Wave™ 2017 by Forrester Research, a Great Place to Work by The Economic Times in partnership with the Great Place to Work® Institute and recognized as a ‘Cool Vendor’ and a ‘Vendor to Watch’ by Gartner.

For more information: https://fractalanalytics.com/

By Ryan Browne

  • Fractal is now valued at $500 million following the investment, according to a source familiar with the deal.
  • Apax bought existing shares owned by investors including Malaysia’s sovereign wealth fund and TA Associates.
  • The firm will use Apax’s investment to fund increased international expansion and mergers and acquisitions.

Indian artificial intelligence (AI) firm Fractal Analytics said Wednesday it raised $200 million from private equity giant Apax Partners.

The capital was raised through the sale of newly issued shares and existing shares owned by investors including Malaysia’s sovereign wealth fund Khazanah Nasional and U.S. private equity firm TA Associates.

Fractal Analytics, which has offices in New York, London and Mumbai, is now valued at $500 million following the investment, according to a source familiar with the deal who preferred to remain anonymous because the valuation has not been publicly announced.

The transaction sees Apax acquiring a “significant minority stake” in Fractal, the company said. The deal is expected to close by February.

The company is making “about $100 million” in annual revenue, Chief Executive Srikanth Velamakanni told CNBC in an phone interview, and hopes to eventually cross the $1 billion annual revenue mark.

“We wanted to get a partner who could really be more than an investor and that is why we chose Apax,” Velamakanni said of Fractal’s new investor. “They have a good track record and know the space well.”

Fractal, which was founded in 2000, is an enterprise-focused business that helps clients make decisions by using machine-learning algorithms. The company says it’s partnered with multiple Fortune 500 firms.

The firm will use Apax’s investment to fund increased international expansion and mergers and acquisitions, Fractal’s chief said. It wants to build a presence in China, he said, a country that has become a powerhouse in the AI industry.

“We certainly want to expand into larger parts of Europe, Australia and very selective parts of Asia,” Velamakanni said.

Velamakanni said China was a “fascinating destination” and “formidable force” when it comes to AI, pointing to the ease of companies like SenseTime to gain access to government data. Data are a crucial component of machine learning and analytics.

Alibaba-backed SenseTime, with a valuation of $4.5 billion, is believed to be the world’s largest AI start-up. On the heels of raising more than $1 billion in total during 2018, the company is reportedly planning on raising a further $2 billion in funding.

IPO ‘in the near future’

Fractal’s boss added that the firm could see itself being a publicly-listed firm “in the near future.”

“We certainly want to build that kind of company that has scale and the size of a public company,” he said.

But Velamakanni added Fractal is not yet in a solid enough position when it comes to its financials for it to debut its shares in an initial public offering.

“As far as the position of earnings is concerned, we think we’re still not there,” he said. “Markets are pretty brutal and precise in terms of earnings.”

Fractal’s fundraise comes at a key moment for the AI industry. The machine learning and data analytics space has been growing rapidly, with tech giants from Silicon Valley’s Google to China’s Baidu vying for dominance. Research firm Gartner forecasts the sector will be worth more than $3.9 trillion in business value by 2022.