Element AI

Element AI — the company founded in 2016 specializing in providing professional services on implementation of artificial intelligence technologies and machine learning. The startup drew considerable attention to itself partly thanks to the high-ranking cofounder — the famous researcher in the field of deep learning Yoshua Benzhio who in 2018 got Turing's award for the deposit to this area.

History

2020: ServiceNow purchased Element AI

At the end of November, 2020 ServiceNow announced Element AI acquisition. The financial component of the agreement of the company did not begin to be opened. According to the edition TechCrunch, the speech can go about the amount of $500 million. It is going to close the transaction at the beginning of 2021.

ServiceNow is going to create based on Element AI the center of innovations in the field of artificial intelligence in Canada. Benzhio's Yoshua will act as the technical adviser of ServiceNow.

ServiceNow purchased the solutions AI developer for the enterprises and Element AI shops

Element AI which initially advised the companies concerning implementation of solutions AI expanded afterwards the activity, having started fund of support of developers of machine learning technologies and having created several AI tools. Among them:

• Knowledge Scout is the search system for the enterprises which accelerates diagnostics and fault recovery on production lines. Service provides to IT specialists up-to-date information about the previous incidents with similar characteristics;

• Task Orchestration is solution AI for optimization of daily transactions in retail stores.

It is supposed that ServiceNow which offers the companies tools for automation of business in a cloud environment thanks to purchase of Element AI will be able to improve the Now platform. Earlier ServiceNow made artificial intelligence a key component of the popular products IT Service Management Pro, Customer Service Management Pro and HR Service Delivery Pro.^[1]

Notes