Firms in the financial services space are already formulating strategies for digital transformation endeavours in finance and augmenting business value for the year 2023. Amongst the technology disruptions, chatbots and automation have proven to be popular choices as they cut labour hours, enhance client connections, and boost profitability. While chatbots may be the face, artificial intelligence (AI) is a game changer in back-office operations, product delivery, risk management, marketing, and security.

While many solution providers continue to push the boundaries of innovation, Almawave from Rome, Italy, has been in the limelight for their best-of-breed technologies and complete Big Data-oriented services to support the digital enhancement of enterprises and public administrations.

The leading Italian player in Artificial Intelligence and Natural Language Processing, Almawave has designed platforms like Audioma® and Iride®. The latest Almawave’s innovation is its AI Platform – the AIWave. Audioma® is an integrated solution offering services like automatic transcription, translation, and subtitling of audio and video content. Iride® is a suite of interconnected products for information management and enabling natural interaction in complex environments, including: text analytics, speech analytics, virtual assistants, smart IVR, enterprise insight engine, social and digital media monitoring to accurately understand customer needs. These features help clients interact with customers effectively, achieving better customer satisfaction and optimising customer experiences.

AIWave is made up of AI Bricks– technology, tools, models and capabilities packaged in purpose-based AI Boxes, which can be used to construct tailored solutions for businesses. With the all-inclusive AI Boxes a developer can build anything ranging from accessing, organizing and analyzing data (including written and spoken data), to automating the interaction between people: customers, employees, citizens and systems or data.

AIWave has Composite AI at its core, combining different symbolic and statistical AI techniques like machine learning, deep learning, reasoning, and knowledge graphs in order to guarantee best user experience as well as transparency and explainability. Such approach allows to shorten the time-to-value for consumers and AI adopters.

While AI Bricks and AI Boxes are solutions for developers who can assemble applications using the micro-services, AI Easy are ready-to-use AI-infused applications to automate specific business processes and to amplify businesses through natural language. The end user needs to select a solution that solves his business problems, configure and customize AI Easy, and start using it.

The AIWave Platform and especially the AI Easy is a way towards democratization of AI, making it accessible not only to large enterprises and governments but also to SMEs.

With its top-notch platforms and solutions, Almawave has assisted numerous clients across the globe. For Instance, one of Almawave’s customers includes the Judiciary of the Republic of Tanzania, who entrusted Almawave with the transcription and translation in court proceedings. PerVoice, an Almawave Group company, translates and transcribes from Swahili to English and vice versa, with spoken language identification feature to enable a seamless process. The collaboration was supported by Confindustria Assafrica & Mediterraneo, the industrial Association representing Italian companies operating in Africa and the Middle East, the Embassy of Tanzania in Italy and the Embassy of Italy in Tanzania.

Besides its technology and products, Almawave provides data services consisting in application of strategies and methodologies in big data, and designs of architecture for digital transformations to support its B2B customers. “We have a basic technical framework on top of which we build the solutions according to the client's specific necessities,” says Mirko Lalli, Chief Group Digital Strategy Officer of Almawave.

Almawave's information governance service uses data-driven approaches to support organisations in becoming knowledge-driven. Its strength lies in providing long-term value to the environment, ethics, social, and financial, ensuring top-notch products and services. Almawave is consistently improving its products, services, and platforms with its in-house R&D laboratories and is working with numerous institutions to develop new global approaches.