Based on its recent analysis of the global cognitive artificial intelligence (AI) market for business process automation, Frost & Sullivan recognizes Beyond Limits, Inc. with the 2021 Global Company of the Year Award. Encompassing a unique blend of numeric machine learning techniques and symbolic AI, Beyond Limits’ Cognitive AI technology augments operational efficiency, enhances performance, improves operating conditions, and increases profitability. The technology has found wide application in sectors where sustainability and responses to COVID-19 have created exciting opportunities for AI, such as energy/oil and gas, manufacturing, industrial Internet of Things, healthcare, and finance.
“Beyond Limits’ flagship product, the Refinery Operations Advisor, drives operational efficiency through streamlined decision making. It identifies operational issues in real time and recommends responses. For example, in refineries, numerous sensors generate massive amounts of data, much of which goes unused. Beyond Limits combines this data with human expertise and digitizes operational models to allow operators to plan, scale, and increase profitability,” said Clare Walker, Industry Principal. “Beyond Limits also enables companies to retain industry knowledge that would otherwise be lost when veteran engineers retire. It embeds their domain expertise into systems to make it available to junior engineers.”
While Beyond Limits has primarily worked within industrial settings, it recently entered the financial services sector. In 2020, it extended its presence to Asia-Pacific through three main segments: general administration, compliance and accounting, and transactional and new business issues. By minimizing manual labor, backlogs, false positives, and negative determinations, it enables its customers to drive revenue, comply with regulations, manage accounting operations, and process a continuous stream of financial transactions.
Significantly, Beyond Limits adopts a co-development approach to partnerships, wherein it gains access to partners’ financial subject matter expertise and tools such as smart investment platforms, chatbots, natural language processing, and optical character recognition. It then leverages its Cognitive AI engine to enhance solutions’ features and functionalities. As most of its customers require bespoke solutions, each deployment is unique.
“Beyond Limits is currently building out a full value chain, expanding its product portfolio with additional software-as-a-service products,” noted Jeffrey Castilla, Best Practices Research Team Leader. “Overall, its technology focus and solid expansion strategies are expected to help it continue growing rapidly in the global cognitive AI market.”
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in customer value and market penetration. This is Beyond Limits’ second award from Frost & Sullivan; in 2019 it received the Technology Innovation Award for its Cognitive AI technology.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify the industry’s best practices.
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About Beyond Limits, Inc.
Beyond Limits (beyond.ai) is an industrial and enterprise-grade artificial intelligence company built for the most demanding sectors including energy, utilities, and healthcare. Beyond traditional artificial intelligence, Beyond Limits’ unique Cognitive AI technology combines numeric techniques like machine learning with knowledge-based reasoning to produce actionable intelligence. Customers implement Beyond Limits AI to boost operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.
Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions. The company was recently honored by CB Insights on their 2020 List of Top AI 100 most innovative artificial intelligence startups and by Frost & Sullivan for their North American Technology Innovation Award.