Japan’s SBI Holdings Bets Big On Singapore-based AI Startup AntWorks

Investors are ready to bet big on artificial intelligence startups because the technology brings a great future. AI has already been implemented in a number of repetitive tasks and mundane functions in a company which surely means that startups looking to try their hands on this technology surely hold a promising future.

Singapore-based AI startup AntWorks was, recently,  in news for announcing Series A funding from SBI Investment Co., Ltd., a subsidiary of SBI Holdings. The Japanese investment firm invested  $15 million in AntWorks, a global company that is creating new possibilities with data. In addition to funding, a joint venture between SBI and AntWorks was also announced to tap the opportunities in the emerging AI space in South East Asia.

The company which was co-founded by Asheesh Mehra and Govind Sandhu in 2015, provides the only integrated intelligent automation enterprise-level product, powered by Fractal Science.

Commenting on the development, Yoshitaka Kitao, Representative Director, President, and CEO of SBI Holdings, Inc. said “The joint venture will focus on countries in Asia, such as Japan, China, South Korea, and Indonesia.  “AntWorks’ has risen through the ranks of global RPA, Automation, and Artificial Intelligence companies with a ferocity that’s unprecedented in the industry. We are excited about the possibilities of ANTstein and look forward to their growth in the Asian region through our joint venture, as well as globally.”

AntWorks’ primary product is ANTstein. It is an AI-based RPA software product designed to understand structured as well as semi-unstructured data types such as handwriting and forms, as well as broader cognitive capabilities that include pattern recognition, photos, and images. It consists of integrated technical and operational capabilities in a BOT which can be configured and trained. These bots can be created in a code-free environment and allow automation of complex processes. ANTstein integrates cognitive Machine Learning and autonomous automation into a single technology stack.  The platform also has a Machine Learning and Natural Language Modeling capability which makes it one of the most comprehensive end to end automation platforms available. Specifically, the platform can handle unlimited types of non-standard format document that do not have a specific format, such as various financial statements, agreements, and invoices. To date, AntWorks has been providing its customers with its platform ANTsteinTM in a variety of industries from leading consulting service companies to financial services firms, such as major regional banks and insurers in India

Kitao added that SBI Group is actively involved in introducing RPA (Robotic Process Automation) solutions to financial institutions in Japan and strongly believes in the future of this field.

SBI A&B Fund of SBI Investment has been actively investing in promising startup companies inside and outside Japan in sectors such as AI and blockchain, including the FinTech sector, which is being carefully watched globally, as well as the IoT, robotics, and the sharing economy, which have close links to these technologies.

Article originally posted by entrepreneur.

This entry was posted in Business, Technology. Bookmark the permalink.
5 Work Laptops With 10+ Hours of Battery Life
Uncategorized

5 Work Laptops With 10+ Hours of Battery Life

For some small business owners, long battery life is the single most important feature a work laptop can have. If you're one of the many entrepreneurs who work long days, often away from a power source, and want a laptop that works as long and hard as you do, this…

Read

How to Make Amazon Prime Work for Your Business
Uncategorized

How to Make Amazon Prime Work for Your Business

Amazon Prime is a membership program designed to offer customers perks for loyalty to the retail giant. Consumers who sign up for a $99 annual fee (or opt for a $12.99 monthly fee) enjoy free two-day shipping, free streaming of video and music, and access to e-books. But businesses also…

Read

She Proved That Nothing Can Get In The Way of Determination
Business

She Proved That Nothing Can Get In The Way of Determination

Shariah Edwards simply graduated from Power Center Academy High School, a contract school in Memphis, Tennessee. Presently, she's looked with an assignment numerous current secondary school graduates must do - - pick which school of those she was acknowledged to she needs to go to. Be that as it may, Shariah's circumstance…

Read

Best Travel Sites for Businesses
Uncategorized

Best Travel Sites for Businesses

Falling victim to an eleventh-hour business trip is unavoidable. You're working on a project, firing on all cylinders with your employees and clients, and then a massive hurdle comes your way: You need to touch base with clients in Seattle, and you need to be there in two and a…

Read

Management Theories Every Small Business Owner Should Know
Uncategorized

Management Theories Every Small Business Owner Should Know

Small business owners and managers can benefit from learning about the theorists whose work has given rise to many of the leadership approaches as well as the best (and worst) practices used to guide and grow organizations of all sizes. By putting these approaches within a larger historical context, business…

Read

9 Best Apps for Jira
Uncategorized

9 Best Apps for Jira

You may know Atlassian's Jira as a bug-tracking and software development package. But it's so much more than that now. For small businesses, Jira can help teams organize and manage a diverse array of projects, processes, and tasks for a spectrum of non-technical business specialties like law, HR, marketing, finance,…

Read

Don’t Wait for the Government: Entrepreneurs Are Keeping America Great
Business

Don’t Wait for the Government: Entrepreneurs Are Keeping America Great

Entrepreneurs are helping their local communities by introducing products and technologies for new markets across the country. Opinions expressed by Entrepreneur contributors are their own. Although popularized by Donald Trump, the “Make America Great Again” slogan goes back to Ronald Reagan’s 1980 presidential campaign. It's associated with politics, but the idea isn’t about…

Read

10 Essential Tips for Effective Inventory Management
Uncategorized

10 Essential Tips for Effective Inventory Management

Inventory management is a crucial piece of a business's profitability, but a lot of SMBs don't practice good management practices when it comes to the items they sell. It makes sense that having too little inventory is a detriment to a business. Customers become frustrated when the items they're looking…

Read

People Who Are Struggling To Pay The Bills are Turning to THIS
Uncategorized

People Who Are Struggling To Pay The Bills are Turning to THIS

Shariah Edwards simply graduated from Power Center Academy High School, a sanction school in Memphis, Tennessee. Presently, she's looked with an undertaking numerous ongoing secondary school graduates must do - - pick which school of those she was acknowledged to she needs to go to. In any case, Shariah's circumstance is remarkable,…

Read

How to Improve Your Attitude in a Matter of Minutes
Business

How to Improve Your Attitude in a Matter of Minutes

Jack Canfield recommends a few tips for giving your mood an instant facelift. Opinions expressed by Entrepreneur contributors are their own. The power of changing your attitude can have a great impact on your life overall. Staying aware of your attitude on a daily basis can dramatically improve how your life will pan…

Read