Asa Cox (Arcanum AI)
Credit: Provided
Wellington-based start-up Arcanum AI is developing generative artificial intelligence (AI) solutions for small and medium-sized enterprises (SMEs) in New Zealand and around the world to compete with the ‘big players’ operating in the AI space. I am aiming for Technologies such as ChatGPT.
The technology vendor has developed solutions such as AI assistants integrated with AI and machine learning (ML) technology from enterprise automation vendor Workato, built on Amazon Web Services (AWS).
Arcanum founder and CEO Asa Cox said: reseller news The partnership with Workato was closed about nine months ago, he said, after exploring “a layer of technology within our platform” to incorporate into the business.
Both Workato and Arcanum are AWS Independent Software Vendor (ISV) partners, so “we primarily build on and using AWS,” says John Deeb, Country Manager for Australia and New Zealand at Workato. said. Customers can transact through his AWS Marketplace.
According to Cox, Arcanum is an AWS ISV Global Partner for AI and Machine Learning and is working towards achieving the Machine Learning Competency.
“We have seen the emergence of new technologies and the growth of AI and machine learning in recent times. It’s a combination of automation and AI/ML capabilities,” said Deeb.
Cox founded Arcanum in 2016 as a professional services firm, initially providing R&D projects to large organizations and “some start-ups looking far ahead,” Cox said. rice field.
From the outset, Mr. Cox had a vision to expand into “products and platforms” with global scalability, and it took time for the domestic market to catch up with the company’s products, which had been attracting interest overseas. explained.
In a year when AI has rapidly entered the public consciousness in the wake of ChatGPT’s launch, Arcanum has “packaged” its technology offerings in the form of AI assistants, which, according to Cox, will allow non-technical companies to AI will be more accessible to
“What we can do is continuously build our product proposition in line with market conditions,” he said.
“Until nine months ago, we always felt that we were too far ahead of the market, so we were doing business with more foreign companies. There are many more relevant conversations going on.”
As Cox continues to attract international interest, it aims to grow locally and solidify its position as a homegrown tech company that can rival the “big guys” in the global tech industry, much like David did in the fight against Goliath. I imagine myself to be a being.
“Finding the right strategy to compete with Goliath in the marketplace is critical…We are really seeing New Zealand tech companies being able to push beyond their own weight and produce really great technology. I’m looking at it,” he said.
“We are really happy to be part of that landscape and play against bigger players overseas because we can move faster.”
Cox said he believes this growth will come through meaningful partnerships and is seeking to connect with channel partners targeting mid-sized companies with “somewhat less technical environments.”
“We see what we can offer at Workato as very valuable to mid-sized companies that want to innovate but don’t have the in-house expertise. We don’t want to build a direct sales presence, we truly believe in channels and resellers.
“We are actively looking for companies that have customers who need AI, but they don’t have the people to do it.”
He also stressed that companies looking for new solutions should look to emerging markets rather than global tech companies “who may or may not already be in New Zealand.”
“I would strongly encourage the channel to consider local New Zealand startups as part of the ecosystem,” he said.
The service aims to create value for ‘non-technical’ mid-market companies in New Zealand who are interested in AI but don’t know where to start.
“I’m a founder, I’m not a tech guy…so it’s always been important to me what the business value is in that technology,” Cox said.
“For us, it’s about making AI practically accessible to enterprises, but not necessarily large enterprises. We work with enterprises of all shapes and sizes to extract business value from AI. We make it very easy to get.”
Especially in New Zealand, where the labor market is tight, reducing labor costs and resources is a key challenge for AI assistants.
“Most people will have the budget to expand their workforce. It’s about using an AI assistant that doesn’t work.”
Cox said the current focus is on automating back-office operations, with AI assistants currently being deployed in finance, customer support, and soon HR departments.
One of the customers Cox mentions is Auckland-based Debtworks. The company uses his Workato for automation capabilities and his AI specifically to improve the customer/debtor experience.
Cox said Detworks is keen to “change the landscape” of debt collection and is working with Arcanum to develop “massive, personalized communications.”
“They are very visionary in developing a better experience and understanding how to differentiate themselves in the market when it comes to retaining customers like the NZTA and big telecoms. ”
Another customer is recruitment agency Momentum Consulting, and Arcanum supports their financial operations.
With a customer base of large contractors and all kinds of invoices flowing through the organization, Momentum Consulting was looking for a way to automate its accounts payable operations rather than adding staff.
“They now have our AI system ‘Archie’ running in Outlook and they use the Workato platform to process all their invoices into Xero,” said Cox.
As the rate of AI adoption increases exponentially, the potential for future use cases opens up a world of potential “10x productivity gains,” Cox said.
“What was really exciting was talking to our non-profit healthcare customers about future use cases, where we were able to demonstrate amazing efficiency gains, for example handwriting recognition. It’s easier for people to use,” Deeb said.
Cox added that ChatGPT has democratized AI and that productivity-enhancing potential is still being explored and discovered across all industries and organizational types.
“Using these large-scale language models is amazingly productive,” he said. “We have been talking to a wide range of companies, from concrete slab placement associations to dental associations to law schools. I’m excited to use it. ”
Despite the excitement, Cox emphasized that important discussions are needed around privacy, security, the cost of deploying AI, and integration into existing systems to keep the business running.
“The midsize organizations we are targeting need to start thinking seriously about where the value is coming from, but what jobs, skills and hiring are needed to truly embrace technology. We also need to start thinking about whether,” he said.
“This is not just a little bit faster, it changes the nature of some jobs and some workflows.
“I think people will be challenged in the near future as to how they embrace it in a sustainable way for their businesses and existing staff.”
Tags AWSWorkatoArcanum AI
