Exponential AI offers a decision intelligence platform, Enso to help companies accelerate the adoption of AI within their enterprises
Healthcare organizations dealing with unprecedented levels of complexity and uncertainty must strengthen their ability to drive highly accurate, contextualized and quick decisions.
A recent Gartner Research Circle Survey, highlighted just how big the problem is, most executives and leaders opined “65 percent of decisions made are more complex than they were two years ago.” As a result, many healthcare companies are keen on embracing AI-driven workflows and decision making to streamline and supercharge their processes for better cost, quality and efficiency. But several of them are still struggling to fully and optimally leverage the potential power that AI offers to achieve transformative business outcomes.
Exponential AI, an Enterprise AI platform provider, addresses this challenge by simplifying the processes for building, deploying and managing AI solutions at scale, enabling clients to own their AI Journey. The company delivers AI driven Decision Intelligence to the healthcare and financial services sectors and transforms machine and data driven decision-making to unlock digital scale. Organizations can now execute evidence-based decision-making, accelerate the automation of complex enterprise processes, and continuously gather feedback to nurture and curate the strategic and operational knowledge of the models they operate across the enterprise.
Exponential AI offers Prebuilt Decision Agents- AI enabled Digital Workers that can efficiently be trained to make human-like decisions and continuously learn from their feedback. In addition, these agents can be custom built, trained and orchestrated into solutions that automate complex decision-making across enterprise processes.
Exponential AI’s solutions have been used by leading healthcare and financial services clients to drive transformational outcomes for revenue, cost, quality, and efficiency. In a conversation with CIO Applications, Nikhil Mendhi, Steve Lund, and Ratnakar Mallavarapu, leaders of Exponential AI, we will discuss its solutions and efficacy at length.
As a company that offers its prebuilt decision agents to build unique AI solutions, please elaborate on how Exponential AI has established itself in the Healthcare space?
Our pre-trained decision agents underpin our ability to deliver autonomous healthcare processes at scale. Through our decision intelligence platform Enso we offer these prebuilt agents that are easily assembled or orchestrated together with custom-built agents and solution components into Decision Intelligence solutions that drive targeted business outcomes and continuously improve with data and decisions.
With our Healthcare Clients, we have been able to adopt a land and expand strategy. We start our customers off with solutions featuring prebuilt decision agents, which enable them to realize COOimmediate value. This is possible because the prebuilt decision agents that come with the platform are trained on healthcare specific functional domain knowledge. After landing the client, we expand and advance AI using Enso, by training clients’ teams to leverage our low code no code user interface to build end-to-end solutions using agents. This gives them confidence and control with their AI journey.
To ensure easy adoption and no disruption to clients existing processes Enso allows for seamless and easy integration of AI solutions into the customer’s existing environment and processes. The AI solution seeks to enhance the existing process and systems rather than replacing them. For instance, many of our clients run the platform in-parallel to provide decisions and recommendations within the existing systems like Claims Adjudication Systems, CRM etc. The solutions also easily integrate with other systems like RPA etc to enhance existing processes. This helps our clients add more intelligence and value to the static data they generate. In addition, our platform provides the fastest response rate in the industry and helps companies scale their operations quickly. For example, one of our clients processes four and half million claims in a day using our platform, leveraging AI to identify errors and fraud, waste, and abuse in real-time.
Could you walk me through some of the areas within the healthcare industry where your solutions are being leveraged?
We have delivered solutions for payers, providers and life sciences companies to enable better cost, quality, efficiency and control. For the healthcare industry, our focus has been on transforming Claims Operations, Compliance and Payment integrity. So we have AI solutions for Claims Adjudication Processing, Coordination of Benefits, Claims Audit, Payment Integrity, Contract Management, Utilization Management etc.
Similarly, in the life sciences industry, we are focused on research and development, pharmacovigilance and commercial processes. Life sciences companies utilize our solutions to churn through large amounts of patient data to identify best fit candidates for clinical trials, predict the outcome of a clinical trial based on the member and the demographics, identify adverse events from literature documents etc. Provider companies also leverage Exponential AI’s capabilities in patient scheduling, auditing the transactions, and more.
What are the market pain points of your customers that have manifested as opportunities for your solution and approach?
Healthcare organisations are constantly looking to apply new technologies such as AI to digitally scale their processes to succeed in this new customer centric ecosystem. Limiting AI to predictions restricts its potential to drive digital scale and the cost, quality and efficiency outcomes it enables. To realize its full value, AI needs to be used for decision making and for creating autonomous processes that are scaled and efficient.
But for AI to be used for decision making, it needs to be used in collaboration with rules, optimization and other decision making techniques, and embedded into processes as Decision Intelligence. Building, training and managing decision pipelines is complex and operationalizing it even harder. This stems from the limited capabilities in orchestrating complex systems, lack of the necessary decision infrastructure and complexities in monitoring and maintaining these systems. To solve these challenges we offer Enso, a healthcare AI platform that delivers pre-trained decision agents that enable autonomous processes at scale.
Could you share a use case to highlight the benefits brought to one of your clients after they started using Exponential AI’s platform?
In one instance, a Fortune 50 company approached us to assist them in their AI journey. Upon onboarding the client, we helped them build one solution, and later, they went on to run more than 30 solutions. Moreover, more than 80 percent of those solutions were built by the client’s team. The client was able to scale their operations in 18 months with Exponential AI. In fact, our platform enabled them to build AI solutions three times faster. By doing so, they could launch more solutions than they have planned and generate more ROI from AI solutions.
What are some of the organizational milestones you have achieved recently, and could you brief us on what lies ahead for your firm?
Currently, Exponential AI is in the process of raising Series A funding from potential investors. In addition, we have been able to hire top talents in the industry and collaborate with fortune 500 clients. We have made strategic partnerships with a number of global systems integrators and consulting groups specialized in niche areas of healthcare. Moving ahead, we have many robust features in the pipeline, and we plan to augment the platform with the same in the next two years. In the days to come, Exponential AI will continue to explore the challenges encountered by data scientists and solutions engineers while they try to adapt AI to their business environment