SYDNEY, NSW – Elula, up and coming leader in Artificial Intelligence and Machine Learning were today announced as a winner in the Westpac 200 Businesses of Tomorrow. Elula’s enterprise AI products drive the commercial application of AI and help future proof Australian businesses.
Much of the AI hype is focused on emerging capabilities and research but Elula believes it’s not good enough just to do cool stuff, it is imperative that AI and machine learning are applied to deliver meaningful business outcomes. To drive true innovation and break through conventional methods and barriers requires a fundamental challenge to the status quo and at the same time delivering an enterprise-grade solution.
“Being a winner in Westpac’s Businesses of Tomorrow is great recognition that AI can really help transform Australian businesses and Elula want to firmly establish ourselves as the number one leader in AI” Co-CEO Josh Shipman said. “We’ve been excited by the extremely positive response received from the big name customers – the visionary leaders are certainly hungry to embrace AI, differentiate themselves, deliver exceptional customer experiences and we’re proud that our product helps achieve this.”
“Around 20% of customers switch their home loan, phone plan or electricity provider every year. This is a big problem for businesses and getting it right can result in significant improvements in profit and customer experience. Elula’s Artificial Intelligence product combined with AWS cloud computing enables more precise ways of solving this problem and Elula quickly identifies all the micro triggers that signal a customer is going to leave.” Co-CEO Sarah Russell said. Elula predicts which customers will leave and provide businesses with a targeted list of customers to retain and the best action, for example, the right price discount or package to offer to increase customer loyalty.
The Westpac Business of Tomorrow program is designed to reward and recognise businesses with the drive to shape Australia’s future. The winners demonstrate a clear purpose and vision, deeply understand their customers needs and have the capability to meet tomorrow’s challenges.
Elula’s enterprise AI products use cutting edge machine learning algorithms combined with mathematical optimisation to help businesses realise the commercial benefits of AI in dynamic pricing and customer retention.