![]() The trend has already invaded new features of major software staples like Microsoft 365 and a bevy of cybersecurity offerings. Nevertheless, enterprises are now rushing to figure out how to take advantage of generative AI, a broad category of AI models that includes ChatGPT and renders new content of different forms, including text, images and video, using large data sets. ChatGPT sent shockwaves through the tech industry with its ability to understand complex prompts and respond with an array of detailed answers-from blog posts on a variety of subjects to software code for web browsers and other kinds of applications-all offered with the caveat that it could potentially impart inaccurate or biased information. “We do feel that this is going to accelerate, and it’s going to accelerate in a significant way,” Hasan said.įor Quantiphi, most of its growth came before ChatGPT, a chatbot powered by a large language AI model, entered the picture last fall. The market, which includes hardware, software and services, has the potential to grow, on average, 27 percent for the next three years, according to the research firm. Now they stand to benefit from what IDC estimates could be a $154 billion market for AI-centric systems this year. This group of solution providers, which ranges from newer companies like Quantiphi to storied companies like World Wide Technology, have spent the past several years building AI practices. While AI technologies are fueling new features in myriad software applications and cloud services for the channel to resell, manage and provide services around, solution providers like Quantiphi are seizing on a profit-rich opportunity at the literal ground floor: the fast-growing need for infrastructure and services underpinning AI applications and features. “Eventually the momentum kicked in, and then we were off to the races,” Hasan said. This has helped fuel a compound annual growth rate of 85 percent for the past three years. ![]() Ten years after its founding, Quantiphi boasts a workforce of nearly 4,000 people, and the “AI-first digital engineering company” has racked up 2,500 projects with 350 customers in nine industries, including a handful of large-scale AI engagements each worth around $10 million a year. They believed the time would come when Quantiphi’s AI services would surge in demand, and in due time they were right. But instead of second-guessing themselves, Hasan and his team stayed patient. ![]() “We were obviously, in hindsight, quite early because the first three years for us were very, very difficult,” said Hasan. Business was slower than expected in the first few years, and the Marlborough, Mass.-based company mostly got by on AI proofs of concept while doing larger work around advanced analytics and data science. The problem was the market wasn’t quite ready when Hasan and his three co-founders started Quantiphi. Hasan also knew that there was “space in the market for a new type of solution provider that brings these capabilities to the enterprise” from challenges he experienced trying to find outsourced data science talent when he was director of business analytics at Philips Healthcare. They had seen the promise of AI in research that demonstrated the real-world feasibility of deep learning, a complex but powerful machine learning method that mimics the way the brain absorbs information and now serves as the foundation for many AI applications today. When Asif Hasan and his colleagues ditched well-paying jobs in 2013 to start a new company that builds artificial intelligence solutions for enterprises, they assumed fast growth would quickly follow. ![]()
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