Accern Recognized in Gartner(R) 2023 Hype Cycle™ for ML

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Today, Accern, a leading provider of no-code Generative AI for Financial Services, announced that it has been recognized as a Sample Vendor in not one, but two of Gartner's prestigious 2023 Hype Cycles: Hype Cycle for Data Science and Machine Learning, 2023 (1); Hype Cycle for Emerging Technologies in Banking, 2023 (2). Accern has been specifically acknowledged for its capabilities in Adaptive Machine Learning (ML).

"We are honored and thrilled to be recognized by Gartner in these two critical areas," said Kumesh Aroomoogan, Co-founder and CEO of Accern. "Our focus has always been on pushing the boundaries of what's possible in data science and these recognitions validate the transformative impact that Adaptive ML, as utilized by Accern, can have on industries that are data-rich and insight-hungry, such as banking. Being recognized in the Hype Cycles is a testament to our team's hard work and our continued commitment to innovation."

Adaptive Machine Learning (ML) stands as a pivotal innovation in today's data analytics landscape, enabling businesses to swiftly adapt to evolving data without the intensive overhaul of their established models. With Accern's solutions driven by Adaptive ML, financial and banking institutions are equipped to make sharper decisions, optimize their operations, and enhance customer engagement. Beyond its foundational capabilities, Adaptive ML's self-evolving nature tailors AI functionalities at both business and user scales, proving indispensable in diverse domains such as customer retention, gaming, counter-terrorism, fraud detection, cybersecurity, conversational bots, advanced robotics, and more."

In the Hype Cycle for Data Science and Machine Learning 2023 report, Gartner identified specific benefits that can be realized from Adaptive Machine Learning (ML).

• Evolving AI Capabilities: Adaptive ML brings AI closer to self-learning, allowing faster responses to changes, outpacing traditional static models. This evolution ensures systems remain resilient even amidst significant disruptions.
• Business Relevance & Applications: Most valuable in dynamic settings, Adaptive ML fine-tunes models post-deployment, impacting sectors like cybersecurity, fraud detection, and smart robotics.
• Driving Forces & Benefits: In our fast-paced societal and business landscape, Adaptive ML provides real-time data processing and decision-making, extends model accuracy, and curbs frequent model retraining needs.

Accern's inclusion in the Gartner Hype Cycles is based on an evaluation of its technology capabilities, market presence, and the value it provides to its customers. Companies recognized in the Gartner Hype Cycle represent those that are leading the way in emerging technologies and have the potential to transform their respective industries in the years to come.

1. Gartner, Hype Cycle for Data Science and Machine Learning, 2023, Peter Krensky, 27 July 2023
2. Gartner, Hype Cycle for Emerging Technologies in Banking, 2023, Alistair Newton, Christophe Uzureau, 20 July 2023