Beyond Limits Becomes Two-time Frost & Sullivan Award Winner
6 MAY 2021
LOS ANGELES, CA
ALYSSA COTRINA, BEYOND LIMITS
This year, Beyond Limits was honored by being presented with yet another esteemed award from Frost & Sullivan. For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Award criteria and selection processes involve industry analysts comparing market participants and measuring performance through in-depth interviews, analyses, and extensive secondary research to identify the industry’s best practices.
It was recently announced that Beyond Limits won Frost & Sullivan’s Best Practices 2021 Global Company of the Year Award in Cognitive AI for Business Process Automation. Previously, Beyond Limits had also received their coveted 2019 North American Technology Innovation Award in Cognitive AI for Business Process Automation. Even being considered for either award is a very prestigious accomplishment for any company.
2019 Frost & Sullivan Technology Innovation Award – North America
Frost & Sullivan presents their Best PracticesTechnology Innovation award to companies that develop products with standout innovative features and functionality which are gaining rapid acceptance in the market. This award recognizes the quality of an organization’s solution and the customer value enhancements it enables. Beyond Limits’ award was representative of a Frost & Sullivan commendation for “sharing accumulated expertise across a variety of industries with its innovative Cognitive AI which combines the expertise of human knowledge with a symbolic AI engine to support human decision-makers.” (Frost & Sullivan)
Frost & Sullivan applauded Beyond Limits’ technology for pushing past conventional artificial intelligence limitations concerning defined data sets and controlled environments – with the ability to draw from small, incomplete, or unstructured data sources and providing auditable solutions for a variety of highly complex use cases of interdependent systems and variables. Frost & Sullivan also made sure to call out the fact that Beyond Limits Cognitive AI advisors have the unparalleled ability to help organizations replicate the capabilities of top-performing individuals to guide decision-making across the board.
One major, differentiating feature of Beyond Limits’ Cognitive AI – pointed out by Frost & Sullivan – includes the explainable nature of the solutions. Award analysts admired the fact that this artificial intelligence could actually operate inside of a transparent, glass box – as opposed to the more commonly found black box AI solutions that do not provide any insight into their results or recommendations. In this way, Beyond Limits artificial intelligence advisors are more likely to solidify essential trust from the human decision-maker they are designed to support.
“The company’s advisors, or cognitive agents, provide tangible results and recommendations that are always explainable. These explainable results, or transparent audit trails, are derived from cognitive patterns of life technologies that automatically capture all of the internal inferences that were used to generate the result. These audit trails are used internally to provide heuristics and hints to other reasoners, and these trails can be reformulated by other symbolic technologies into a variety of formats, such as narratives.” (Frost & Sullivan)
Another distinguishing feature that contributed to Frost & Sullivan’s assessment, included the technology’s flexibility to be generally applied to a variety of production circumstances with optimization and results-oriented solutions that can be tailored for the complex needs of particular customers. In situations where marginally shifting process margins can yield millions of dollars in savings, Beyond Limits was saluted for developing strategic applications for some of the highest value assets across the globe.
The Energy sector is no exception and Beyond Limits’ Refinery Operations Advisor (ROA) is a great example of the impact their artificial intelligence is having on critical industries with such high-value assets. ROA has provided the industry with unparalleled visibility, efficiency, reliability and consistency across the entirety of operations, helping companies realize tight-margin targets unlike ever before. The AI solution has been designed to empower refinery teams to plan, operate, and improve processes, accelerating time to decision and increasing consistencies between shifts through a cognitive trace summary, live view scorecards, centralized planning, and retrospective analysis.
“Beyond Limits’ flagship product, the Refinery Operations Advisor, drives operational efficiency through streamlined decision making. It identifies operational issues in real time and recommends responses. For example, in refineries, numerous sensors generate massive amounts of data, much of which goes unused. Beyond Limits combines this data with human expertise and digitizes operational models to allow operators to plan, scale, and increase profitability,” said Clare Walker, Industry Principal, Frost & Sullivan. “Beyond Limits also enables companies to retain industry knowledge that would otherwise be lost when veteran engineers retire. It embeds their domain expertise into systems to make it available to junior engineers.”
2021 Frost & Sullivan Best Practices Award – Global Company of the Year
Every year, Frost & Sullivan presents their Best PracticesCompany of the Yearaward to organizations that demonstrate excellence in growth strategy and implementation in their respective fields. Each award recognizes a high degree of innovation with products and technologies and the resulting leadership in customer value and market penetration. The awards spotlight companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.
Frost & Sullivan again took the opportunity to commend Beyond Limits for the capabilities of their unique Cognitive AI technology, this time shedding a more pronounced spotlight on their solutions’ impact and growth across the Financial sector. Notable focus was placed on the international growth that has taken place since their initial award with particular attention paid toward Beyond Limits’ expansion into Asia Pacific, with regional headquarters having opened in Singapore.
“While Beyond Limits has primarily worked within industrial settings, it recently entered the financial services sector. In 2020, it extended its presence to Asia-Pacific through three main segments: general administration, compliance and accounting, and transactional and new business issues. By minimizing manual labor, backlogs, false positives, and negative determinations, it enables its customers to drive revenue, comply with regulations, manage accounting operations, and process a continuous stream of financial transactions.” (Frost & Sullivan)
Beyond Limits’ Cognitive AI for Finance incorporates state-of-the-art technology designed to help industry professionals more effectively assess and realize opportunities with improved risk mitigation. This advanced artificial intelligence software employs human-like reasoning to provide financial professionals support through improved quality monitoring and reduced uncertainty in credit portfolios, increased visibility into credit and loan identification, as well as enhanced risk calculation and underwriting.
From One Award to the Next: Beyond Rapid Growth
The rapid rate of growth and progress Beyond Limits has experienced from the first accolade to the second speaks to the apropos disposition of Frost & Sullivan’s awards.
“Beyond Limits is currently building out a full value chain, expanding its product portfolio with additional software-as-a-service products,” noted Jeffrey Castilla, Best Practices Research Team Leader, Frost & Sullivan. “Overall, its technology focus and solid expansion strategies are expected to help it continue growing rapidly in the global Cognitive AI market.”
There’s no denying that Frost & Sullivan believes Beyond Limits’ exponential advancements in the Energy and Financial sectors are impressive and award-worthy, to say the least. However, Beyond Limits’ pioneering artificial intelligence solutions have made significant strides in various other fundamental sectors across the globe as well – including Utilities & Power Generation, Process Manufacturing & Formulation, and other evolving AI markets such as Healthcare.
Beyond Limits Cognitive AI for Formulation and Cognitive Formulation Advisor (CFA) are just a couple more noteworthy solutions that have been perking up expert ears across enterprises. Designed to give companies a competitive advantage by facilitating more efficient formulation development processes and ultimately lowering costs, these solutions leverage both historical data and domain expert knowledge to accelerate time-to-market and deliver hundreds of optimal, viable lead candidates in minutes. CFA identifies best-performing, most economic blend combinations that are optimized with respect to material cost while providing the innate capacity to deep-dive into formulation recommendations with the same evidence-rich audit trail capabilities that were mentioned earlier, increasing confidence in predictions and lowering the risk of failure.
Talk about growth, last summer Beyond Limits also closed their Series C funding round at a stellar US $133 million. The significant capital is already being put to good use, expanding business both in the United States and internationally; this includes the aforementioned launch of Beyond Limits Asia, with regional headquarters in Singapore and operations in Hong Kong, Taipei, and Tokyo. Additional expansion funds were also allotted for extensions into Europe, the Middle East, and Africa. Resources are also apportioned for further development of Beyond Limits’ Cognitive AI applications and SaaS product portfolio, while also continuing to bolster their Beyond Labs R&D program.
At this juncture, it’s safe to assume the organization’s name says it all – Beyond Limits knows no bounds. These prestigious awards and accolades by Frost & Sullivan signify a more-than-promising enterprise-grade AI software company on a powerful path without limits.
Frost & Sullivan’s 2019 North American Technology Innovation Award in Symbolic AI for Business Process Automation
Frost & Sullivan’s Best Practices 2021 Global Company of the Year Award in Cognitive AI for Business Process Automation