By ET Bureau - May 30, 2023 6 Mins Read
Zvolv, a leading global enterprise hyperautomation company today announced new generative AI capabilities along with the launch of the 3.0 version of its micro-services Low-Code No-Code (LCNC) platform. The new middleware – Z-wall – expands Zvolv’s already extensive enterprise automation and app-building functionality with built‑in capabilities that enable leveraging the power of generative AI in next generation enterprise AI apps.
The unveiling of these new Zvolv capabilities was done at Zvolv’s annual CXO meet held this month at the glitzy JIO world convention centre in Mumbai, attended by 50+ CIOs and CEOs from leading enterprises across industry verticals like retail, aviation and logistics, and several of the Zvolv ecosystem partners.
Enterprises today are rushing to adopt generative AI in every possible area, whether to increase productivity, enhance decision-making powered by data-driven insights, or to improve customer and employee experience. However, privacy and scalability concerns hinder organizations from fully embracing AI into their applications. The risk of sensitive data leak is high, the time and cost it takes for deploying private GPT models with adequate controls on usage, reliability and compliance is significant. With rapid evolution of generative AI technology coupled with a scarcity of developer resources, platform approaches to developing new AI applications give fast Time to Market (TTM), low Total Cost of Ownership (TCO) and eliminate risk.
Zvolv’s hyperautomation microservices platform combined with the Z-wall AI orchestration engine will empower businesses to rapidly deploy the world’s best AI and automation capabilities in their products and services, enabling its customers to realize the promise of generative AI in a secure, trusted way.
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“The age of web/mobile apps is now evolving into an age of AI apps, which will dominate the vast majority of the 500M+ enterprise applications to be developed in the next 3-4 years. From a point and click based DIY (Do it Yourself) capabilities of today’s apps, we will see a lot more conversation based GID (Get it Done) capabilities in future AI apps. Today’s new workforce is already getting accustomed to leveraging generative AI in many aspects of their life outside work, and the same level of intelligence and experience will be expected from workplace applications. By leveraging a combination of generic and fine-tuned intelligence in LLM (Large Language Model) models, AI apps will be inherently smarter, more efficient with advanced automation and above all offer a human-like conversational user experience.” said Hardik Gandhi, Chief Executive Officer, Zvolv.
The integration of generative AI in the Zvolv microservices platform will enable enterprises to build AI apps in hours with little to no developer dependence, driving an overall enterprise AI strategy with privacy, security and ethics at the core of the transformation.
“We are averaging 100 hours to build a traditional enterprise app today, with business technologists driving 60-80% of the build process with basic training from the Zvolv Academy. The integration of generative AI into our LCNC builders drives an assisted build journey, which will now enable citizen developers to build end to end, and integrate more advanced AI driven automation into their applications, in under 10-20 hours,” said Sujoy Chakravarty, Chief Operations Officer, Zvolv.
The newly announced Z-wall AI orchestration engine is an integral component to enable the Enterprise AI future, not only isolating the enterprise’s private data from public LLM models, but also governing the usage of generative AI in the variety of new enterprise AI apps.
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Sri Srinivasan, Chief Revenue Officer, Zvolv, said, “This new world of Generative AI apps will enable organizations to become leaner and more efficient, while adapting to changes much faster. Re-training an AI app to adapt to a newer process will be much faster and less error prone compared to re-training or re-skilling human resources. While employees focus on more strategic activities, they can get a lot of their more tactical work done with the help of AI. The rate at which technology is changing has changed significantly, and depending on us humans to do it all ourselves is no longer viable.”
Leaders across industry verticals who were given early access to Zvolv’s new capabilities were unanimous in espousing the benefits they see with new generative AI integrations, while drawing comfort that Z-wall enables them to drive responsible AI innovation in their enterprises. “The future of Generative AI would drive business transformation across every function, from retail expansion to provide better insights and planning, to procurement for better managing on-boarding, evaluation and contract automation, to HR and finance to improve employee and partner engagement experience, to logistics for automating tracking and proactively identifying and reacting to bottlenecks,” said Varun Juneja, Assistant Vice President at Lenskart, a multinational optical eyewear retail chain with more than 2,000 stores, who is driving initiatives with early access to this new Zvolv functionality.
The explosive popularity of generative AI has created a watershed moment for Industry leaders who are rapidly looking to leverage hyperautomation and AI to drive productivity across every business function. The market for hyperautomation as an enabler for the enterprise AI vision is expected to reach $50 billion by 2025 and Zvolv is a key industry leader with many Fortune-10 and several Fortune-500 companies already driving transformative change using its platform. Generative AI will usher in a new era of innovation and agility, enabling customers to accelerate growth, improve satisfaction, and drive innovation using Zvolv’s unified hyperautomation microservices and AI orchestration platform.
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