Marking progress: SymphonyAI solutions are boosting productivity and helping leaders reimagine their businesses

Midway through the year is an ideal time to assess momentum, and SymphonyAI’s 2023 trajectory has been remarkable. By tapping into the power of AI to fight financial crime, manage industrial plants, enhance retail and CPG workflows, streamline IT operations, and optimize media operations, the company has experienced substantial growth and expansion. Through innovative products and successful acquisitions, SymphonyAI delivers cutting-edge AI solutions to empower businesses to navigate a changing landscape, stay ahead of competitors, and make the most of AI's impact in the market.

Top of mind for many leaders in the financial sector, for instance, is the surge in financial crime, including fraud and an estimated annual money laundering value of $4 trillion. Around 60 percent of major financial instructions reported an increase in financial crime in 2022, Mike Foster, CEO of SymphonyAI Sensa-NetReveal, said during an interview with PYMNTS last month for a story about generative AI assistants.

SymphonyAI’s first generative AI application

Addressing risk at this scale can’t be fought with human ingenuity – or at a human scale – alone. The best tactics for preventing and identifying financial crime draw on a combination of human expertise and predictive and generative AI. SymphonyAI Sensa-NetReveal’s groundbreaking generative AI assistant, the Sensa Copilot, empowers regulated institutions to build suspicious activity reports (SARs) in record time, streamline operations, and improve investigator workflows for efficient financial crime investigation and reporting.

The Sensa Copilot is a strategic application that revolutionizes the investigation of incoming alerts by collecting and summarizing information across all relevant sources into a simple natural language narrative. The innovative AI assistant empowers investigators to access quickly the nature and severity of the risk – based on a holistic view of relevant criteria. Its information processing capabilities help financial crime management departments quickly progress investigations into genuine alerts and build reports for investigators and regulators, accelerating investigations by up to 70 percent.

The Sensa Copilot highlights SymphonyAI’s collaboration with Microsoft Azure, integrating Microsoft Azure’s OpenAI Service and Azure Cognitive Search into SymphonyAI’s generative AI applications. The result brings customers a new level of performance and reliability, dramatically reducing repetitive, high-effort tasks while meeting security and privacy requirements. 

This progress doesn’t unnoticed. Chartis Research named SymphonyAI Sensa-NetReveal a category leader in all four RiskTech Quadrants in the Chartis Payment Risk Solutions, 2023 Market and Vendor Landscape.

Advancements across sectors

Other SymphonyAI divisions have also advanced exciting new products that help businesses compete in turbulent spaces at scale. SymphonyAI Retail CPG division is rapidly implementing the vision of connected retail. Mike Troy wrote in March how the Retech Store Intelligence tool combines AI and computer vision, transforming stores into smart environments where employees are more productive, and shoppers are more satisfied. This tool provides actionable data to improve store planograms and control pricing compliance, shelf availability, and inventory. In terms of scale, it’s a game-changer, able to tackle as many as 100,000 SKUs at a time in traditional big-box stores.

Currently deployed in 10,000 stores, the Store Intelligence tool is projected to be operational in many times that number of stores by the end of the year. As Barbra Chase, vice president of global sales at SymphonyAI Retail CPG, told Street Fight, Store Intelligence increases on-shelf availability by 11 percent, improves planogram compliance by up to 23 percent, boosts sales by up to 5 percent, and increases labor optimization by as much as 60 percent.

In the last month, Prateek Kathpal joined SymphonyAI as president and CEO of SymphonyAI Industrial and executive chairman of SymphonyAI Summit – bringing a wealth of tech and innovation expertise to both divisions. Additionally, Plant Engineering Magazine announced that SymphonyAI Industrial’s KPI 360 received the Gold Award in the software category of the 2023 Product of the Year program. KPI 360 tracks KPIs for plant and enterprise leaders in real-time, giving operators insights into plant and equipment performance.

These successes motivate businesses to explore enterprise AI SaaS solutions as they see the positive impact. Moreover, with each iteration, predictive and generative AI are transforming businesses. For example, McKinsey & Company noted in a recent report that the rise of AI-driven digital copilots and assistive technology is “bringing powerful capabilities to nontechnical users.”

Business leaders look for more than just incremental improvements through individual tools. SymphonyAI’s solutions not only learn and support but also scale, as highlighted in a blog post by SymphonyAI Sensa-NetReveal AML Product Manager Meghan Palanza. This scalable process might occur through AI-powered video editing and content creation, as explained by SymphonyAI Media Vice President of Business Development Matt Smith in a blog post, or through AI-driven IT service and asset management that leverages virtual assistants, as Tim Lawes, SymphonyAI Summit’s senior director for the Americas, wrote about recently in Spiceworks.

With SymphonyAI’s tools breaking new ground, businesses don’t need to settle for the status quo. SymphonyAI’s significant growth is based on using the power of enterprise AI to reimagine how businesses overcome challenges, outpace competitors, and fuel their growth. We are only halfway through the year, and SymphonyAI is poised to deliver even more.

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