Newgen Acquires Number Theory
deliver cloud-native data science capabilities to every enterprise
Why has Newgen Acquired Number Theory?
With this acquisition, Newgen will further enhance its low code digital transformation platform, NewgenONE, making it well-positioned to deliver cloud-native AI/ML capabilities to every enterprise. Number Theory’s intuitive AI Studio will equip Newgen’s products and industry-specific solutions with AI/ML-based capabilities.
Our customers are increasingly looking to leverage data for deeper insights and accelerated growth. Number Theory will bring domain expertise along with a powerful engine to extract actionable insights in real time. AI/ML projects often get complex, expensive, and not rewarding. What we like about Number Theory’s platform is that it is for every enterprise. It lets fusion teams build, deploy, and collaborate on the entire modeling lifecycle in low code and on the cloud. We look forward to welcoming Number Theory team to the Newgen family.
Virender Jeet – CEO, Newgen
Newgen has developed mission-critical and complex business applications for its customers across the globe, including for enterprises in the banking and insurance space. We felt that Newgen, with its strong customer portfolio and partner ecosystem, is the perfect growth partner. We are looking forward to helping our joint customers utilize their data in the enterprise with full potential using AI/ML technologies.
Rajan Nagina, Tarun Gulyani – Co-founders, Number Theory
Who is Number Theory?
Number Theory is a company based in India that has developed a powerful and intuitive AI/ML data science platform for business analysts, data engineers, citizen data, and expert data scientists. This cloud-native modern platform offers an AI/ML modeling studio for enterprises looking to accelerate or scale their AI/ML deployments rapidly.
How Will this Acquisition Further Enhance Newgen’s Platform and Make It Unique?
Newgen will be able to further enhance its low code digital transformation platform with intuitive AI/ML capabilities unifying the entire data lifecycle, from data preparation to model deployment and monitoring. It empowers both citizen and expert data scientists as well as data engineers to work on AI/ML projects faster and with more efficiency. The platform relies on intelligent automation to accomplish key machine learning tasks in just minutes or hours, not months.
How Can I Utilize the Newgen AI/ML Data Science Platform in my Enterprise?
Business scenarios and use cases for this platform are countless in enterprises across industries. AI/ML technologies are witnessing increased traction in industries, including BFSI, healthcare, industrial automation, retail, and eCommerce. Here are some of the use cases for your reference,
| Building customer-level insights to drive campaign effectiveness |
| Increasing capacity utilization by predicting prices, improving your decision to store or sell |
| Computing customer lifetime value and reducing churn |
| Determining customer-level next-best-action for deeper engagements |
| Classifying a claim as fraudulent in real-time to reduce revenue leakage |
Applying AI/ML Data Science to BFSI
Banking, Financial Services, and Insurance (BFSI) companies have typically been pioneers in adopting AI/ML technologies. From credit risk scoring, fraud detection, and signaling, from optimizing collections, validating credit card transactions, to policy risk modeling, and to health insurance coverage checks and analysis of vehicle photographs for fraud claims, etc., BFSI has been at the forefront of AI/ML adoption.
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