Ed Ratner, Co-Founder & CEO
The dynamic pharmaceutical industry in today’s changing times requires an accurate forecasting system to reap the benefits of strong decision-making and business intelligence. With millions of dollars at stake in the realms of drug pricing analysis, marketing, sales, and customer retention, the off-the-shelf AI models in the market no longer suffice. The popular deep learning paradigms, in a nutshell, are trained on specific data to make predictions. However, the training is slow and the systems trained on days or months old data cannot provide accurate predictions in a scenario where the data qualitatively differs from what it was trained on.
Taking the road less traveled, serial entrepreneurs Ed Ratner and Amaury Lendasse designed a system that learns in real time to make accurate predictions. The duo went on to establish Edammo that offers dynamic predictive analytics software for pharmaceuticals and e-commerce firms. Although every modeling framework predicts in real time, “Edammo’s breakthrough technology learns in real time for dynamic applications,” says Ratner, Co-Founder and CEO of Edammo.
The highlight of the Edammo model is that, even as it learns from data that is brand new or minutes old, it continuously updates itself and is able to predict very accurately even when the conditions change. “A typical case with many business situations,” remarks Lendasse, Co-Founder and CTO of Edammo. The company’s unique predictive analysis architecture backed by intensive R&D is offered as an AI-as-a-Service that runs on the AWS framework. Clients can communicate through an API to connect and train their models to predict in real time. In instances where large organizations with sensitive information are skeptical of their data leaving their infrastructure, Edammo exudes unparalleled flexibility by deploying their solution on the client’s private VPN cloud.
Amaury Lendasse, Co-Founder & CTO
To elaborate on the proficiency of Edammo, Lendasse cites an anecdote of Verseon Corporation, a pharmaceutical company that recognized the necessity of an AI solution to ascertain the real-time responses from their employees on many business analytics applications. On engaging with Edammo, the client was able to implement an AI-based business analytics model that learns from the real-time feedback of the employees. “Our model ensures that the feedback is taken into account right away in order to retrain the model for the AI to re-learn in real time,” says Lendasse.
In yet another instance, Edammo worked with XTest, which works closely with a pharma company that has projects involving expensive data that takes days or even years to collect. “We are helping them build the first model even if the data is incomplete. As and when new data comes in, we improve the model in real time. The XTest team can leverage the model right from the beginning and gauge its improvement over time,” explains Lendasse.
The core strength of the company lies in its intensive and market-focused R&D. According to Ratner, the current market is exploding with AI companies that take off-the-shelf AI technology and wrap it up with UI for end users. In contrast, Edammo’s robust R&D background underpins its core AI technology innovation. With an army of experts from diverse backgrounds such as data scientists, statisticians, engineers, mathematicians, hardware, AI, and machine learning, Edammo is swiftly responding to changing business needs.
At the moment, Edammo is busy scaling its compelling and flexible AI product. In the coming months, the company will be closing its next round of funding and is looking forward to expanding the team to support their customer engagements across geographies.