MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Granica, the world’s first AI efficiency platform, today announced it has been named a 2023 Gartner Cool Vendor based on the 11 August 2023 report titled, “Cool Vendors in Cloud That Drive Business Disruption,” by Sid Nag, Arun Chandrasekaran, Craig Lowery et al., at Gartner. According to Gartner, “Organizations continue to move from using cloud as a technology disruptor to a business disruptor. In doing so, they struggle to adopt a business-driven strategy coupled with a pragmatic adoption/migration plan.” As a result, business and technology leaders are seeking to “drive IT modernization by adopting capabilities and technologies such as generative AI, mobile cloud architectures and platform engineering while staying hyperfocused on cost and productivity.”
“Founded on fundamental data-centric AI research, we engineered Granica to empower enterprise AI teams to make AI affordable, accessible and safe to use. Merely eight weeks out of stealth, we’re honored and thrilled to be named a Gartner Cool Vendor. It is a testament to our commitment towards customer-value obsession and the incredible efforts from our research and engineering teams,” said Rahul Ponnala, CEO and co-founder of Granica. “Our customers are already seeing dramatic ROI on their AI initiatives — allowing them to improve AI models and keep their AI investments lean and efficient. Finding ways to optimize costs and protect data privacy, while improving business outcomes is imperative as businesses embrace the AI era.”
Pete Sonsini, Venture Advisor, NEA and Granica Board Member, observed, "Nearly every organization is racing to define and implement an AI strategy that drives business disruption and increases competitiveness. I believe Granica's early recognition as a Cool Vendor demonstrates the progress they are making towards helping organizations achieve success with AI."
Gartner research shows that the role of cloud is shifting rapidly and “most organizations will be in the category of using cloud as an innovation facilitator or a business disruptor by 2027.” As part of the shift, modern enterprises must store massive volumes of data in the cloud to power AI models, but the cost to store hot data at scale leads companies to archive or delete important data, therefore constraining AI model performance and outcomes. Granica’s AI Efficiency platform provides a data reduction service to eliminate redundant and low-value data, therefore cutting costs and speeding up downstream processes for hot AI data. Granica’s data privacy service enables organizations to safely leverage sensitive data for AI and other business use cases while improving data security posture and reducing breach risk. These services — combined with the company’s revolutionary outcome-based pricing model that only charges users a percentage of the savings generated per month — empower organizations to drive rapid innovation and become business disruptors in their respective industries.
Click here to download a complimentary copy of the 2023 Gartner “Cool Vendors in Cloud That Drive Business Disruption” report.
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Granica is the world’s first AI efficiency platform. It boosts ROI on AI by increasing the information efficiency of AI training data, freeing up resources that C-level executives and enterprise AI teams can use to reduce costs and improve AI performance and outcomes. Powered by novel compression and deduplication algorithms, its byte-granular inline data reduction of petabyte-scale sensor, image and text AI training data runs transparently in the background, losslessly reducing AI data costs by up to 80%. Granica also provides privacy preservation for PII and other sensitive information, unlocking valuable data for safe use in downstream AI workflows. Granica’s AI efficiency services are easily consumed as an API by developers building applications that access AI data in public cloud object storage platforms such as Amazon S3 and Google Cloud Storage. It’s the simplest and most secure way for businesses to cut the costs of AI training data without the severe trade-offs associated with archival or deletion. Improving the efficiency of AI data and pipelines puts the focus back on model performance. Outcome-based pricing whereby organizations only pay Granica a small percentage of their realized savings eliminates the need for upfront budgeting and investment and ensures enterprises only receive upside. Granica is optimized for data and AI-intensive industries such as financial services, geo-spatial intelligence, autonomous vehicles, and retail and ecommerce. Category-defining companies including HERE Technologies, Quantum Metric and Nylas use Granica to cost-effectively keep, grow and use their AI data to maximize innovation and business results from their AI initiatives.