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iLearningEngines and GenLab Venture Studio Announce Strategic Alliance to fast-track Enterprise AI Applications Using Generative AI within Global Enterprises
Globe Newswire 18-Sep-2024 5:00 PM
BETHESDA, Md., Sept. 18, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, Inc. (NASDAQ:AILE) ("iLearningEngines," "ILE," or "the Company"), a leader in AI-powered learning and work automation for enterprises, today announced a strategic alliance with GenLab Venture Studio (GenLab Ventures), a leader in building and partnering with valuable companies delivering a trusted AI ecosystem.
iLearningEngines and GenLab Ventures' alliance will initially focus on accelerating digital transformation for global multinationals in Japan, India, the Middle East, and the Americas by applying Generative AI to assist Chief Digital Officers and Chief Learning Officers. In this partnership, the GenLab Venture team provides decades of systems integration, open source, and cybersecurity experience to drive down risk and focus on value.
The two companies will distribute ILE's low-code AI platform and Knowledge Cloud to Hyperscaler, Telecom Innovation Hubs, Centers of Excellence, and GenLab's Venture Studio Model further fast-tracking enterprise AI application development and deployment.
"Over the last decade, I have worked to support best practices and DevSecOps principles in highly regulated enterprise. It is why GenLab is a founding member of CoSAI, which has been launched by industry leaders including Google, Nvidia, Microsoft, openAI, AWS and others," said Daniel Riedel, GenLab Studios Founder and Partner.
The iLearningEngines Applied AI platform for learning and work automation is known for delivering trusted and secure AI applications and use cases at scale within regulated enterprises such as insurance, healthcare, and education. The platform is powered by vertical-specific AI models, no-code AI canvas, and Knowledge Cloud that provide the technology capabilities and the unit economics that make ILE ideal for organizations that require secure and private clouds. The platform integrates advanced components such as API gateways, AI workflow orchestration, pipelines for large and small language models (LLM, SLM), and multi-modal models for intelligent document extraction and predictive analytics. These features enable faster, more secure deployments and deliver AI fine-tuned specifically for enterprise learning and work automation at scale.
"Global enterprises continue to face challenges in applying generative AI to increase revenue and workforce productivity and do so in a highly secure and trusted fashion. ILE and GenLab believed it was the right time to partner to bring ILE to enterprises looking to scale and automate their AI application development while increasing security, governance, risk management, and compliance," said Harish Chidambaran, CEO of iLearningEngines.
Daniel continues, "Integrating the best practices guided by CoSAI combined with grounding principles for accurate, dependable AI across Japan, India, and the Americas will empower our strategic alliance partner ILE's Platform and Knowledge Cloud. With GenLab's experience in cloud, on-prem, and highly sensitive data environments it's a perfect match to apply our Venture Studio Model. Together we will dramatically accelerate global enterprises' ability to upskill Generative AI knowledge workers and drive model development at their Centers of Excellence where the best practices and processes are evolving to safeguard enterprise data as prompt engineering and grounding takes off worldwide," said Daniel Riedel.
"Having worked with OASIS standards for nearly a decade, I want to ensure GenLab Venture Studio is committed to value creation for our portfolio companies. Building AI responsibly means safety and security are paramount to reduce risk to customers and investors."
About iLearningEngines:
iLearningEngines (NASDAQ:AILE) is a leading Applied AI platform for learning and work automation. iLearningEngines enables Enterprises to rapidly productize and deploy a wide range of AI applications and use cases (AI Engines) at scale.
iLearningEngines is powered by proprietary vertical specific AI models and data with a flexible No Code AI canvas to drive rapid out-of-the-box deployment while offering low latency and high levels of data security and compliance. Serving over 1,000 enterprise end customers, iLearningEngines is deployed globally into some of the most demanding vertical markets including Healthcare, Education, Insurance, Retail, Energy, Manufacturing and Public Sector to achieve mission critical outcomes.
About GenLab Studio GenLab Studio is a venture studio focused on business models that leverage the impact, application, and growth of generative AI. By focusing on solid design principles and engaging a diverse community, GenLab Studio aims to create groundbreaking products that help build a more robust AI ecosystem. GenLab is also a founding sponsor of CoSAI.
The Coalition for Secure AI (CoSAI) is an open ecosystem of AI and security experts from industry leading organizations dedicated to sharing best practices for secure AI deployment and collaborating on AI security research and product development. CoSAI's founding Premier Sponsors are Google, IBM, Intel, Microsoft, NVIDIA, and PayPal. Additional founding Sponsors include Amazon, Anthropic, Cisco, Chainguard, Cohere, GenLab, OpenAI, and Wiz.
Forward-Looking Statements Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995 with respect to the Business Combination. Forward looking statements generally are accompanied by words such as "believe," "may," "will, "estimate," "continue," "anticipate," "intend", "expect", "should", "would", "plan", "predict", "potential", "seem", "seek", "future", "outlook", the negative forms of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the adoption of iLearningEngines' Applied AI Platform; the anticipated benefits of the implementation of iLearningEngines' Applied AI platform on GenLab Venture Studio and CoSAI Framework; iLearningEngines' ability to deliver cross-industry and cross-functional AI applications; and iLearningEngines' ability to address market opportunities across artificial intelligence. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the iLearningEngines' management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions this press release relies on. Many actual events and circumstances are beyond the control of iLearningEngines. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the outcome and findings of the ongoing special committee investigation of allegations raised by a recent short-seller report; iLearningEngines' failure to realize the anticipated benefits of its recently completed business combination with Arrowroot Acquisition Corp.; risks related to the rollout of iLearningEngines' business and the timing of expected business milestones; iLearningEngines' dependence on a limited number of customers and partners; iLearningEngines' ability to obtain sufficient financing to pay its expenses incurred in connection with the closing of the business combination; the ability of iLearningEngines to issue equity or equity-linked securities or obtain debt financing in the future; risks related to iLearningEngines' need for substantial additional financing to implement its operating plans, which financing it may be unable to obtain, or unable to obtain on acceptable terms; iLearningEngines' ability to maintain the listing of its securities on Nasdaq or another national securities exchange; the risk that the business combination disrupts current plans and operations of iLearningEngines; the effects of competition on iLearningEngines' future business and the ability of iLearningEngines to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; risks related to political and macroeconomic uncertainty; the outcome of any legal proceedings that may be instituted against iLearningEngines or any of their respective directors or officers, including litigation related to the business combination; the impact of the global COVID-19 pandemic on any of the foregoing risks; and those factors discussed in iLearningEngines' registration statement on Form S-4, as amended or supplemented, under the heading "Risk Factors," and other documents iLearningEngines has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that iLearningEngines does not presently know, or that iLearningEngines does not currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect iLearningEngines' expectations, plans, or forecasts of future events and views as of the date of this communication. iLearningEngines anticipates that subsequent events and developments will cause iLearningEngines' assessments to change. However, while iLearningEngines may elect to update these forward-looking statements at some point in the future, iLearningEngines specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing iLearningEngines' assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
