SquareFactory launches “iSquare for Pharma”
A version of its AI hosting platform optimized for companies in the pharmaceutical industry
- iSquare is a fully automated AI hosting platform allowing companies to deploy AI models in hours, not months
- Clients do not need any specialist AI or DevOps skills, opening up AI technologies to companies of any size
- “iSquare for Pharma”, the first production version of the platform, tailored specifically to the needs of pharmaceutical companies, has been successfully trialed by beta customers, who report strong productivity growth
Lausanne, Switzerland, November 18, 2021: AI-as-a-Service company SquareFactory today launches “iSquare for Pharma”, the first release of its flagship platform for completely automated AI hosting, tailored to the needs of companies in the pharmaceutical sector.
According to industry research*, one in two organizations have adopted or plans to adopt AI in at least one business function, resulting in global enterprise spending on AI-related solutions breaking the $500 billion mark by 2024. However, it remains difficult for most companies to utilize the technology.
One of the biggest pain points is deployment, with the majority of companies spending up to 12 months to deploy AI models into production, which comes with increased overhead and computing costs.
To address this pain point, SquareFactory has launched iSquare, an automated hosting platform, to allow firms to easily and cost-effectively deploy AI models, opening up the technology without the need for AI specialists or DevOps skills.
The first release of the iSquare platform, “iSquare for Pharma”, launched today, is tailored to the pharmaceutical industry. It helps pharmaceutical companies to implement a data-driven strategy by automating the analysis, which is the key stepping stone to leveraging the power of artificial intelligence. In effect, pharmaceutical companies do not need a pre-existing AI strategy, just data that can be put to work on the platform. Once the platform is in production, the companies can then process and analyze much larger data sets with lower costs and better traceability. This will help them discover breakthrough drug treatments and identify new synthetic molecules for clinical development.
“Deploying AI technology is fundamental for any firm to build and sustain competitive advantage in our digital age. With iSquare, we are not only levelling the playing field by allowing any company to deploy AI but also bringing advanced features to market, such as real-time inference which allows predictions to be made at any time with an immediate response, as needed for example with streaming data. We are very excited to be putting this technology into the hands of so many businesses, starting in the pharmaceutical sector.”
Over the last few months, SquareFactory has been testing the “iSquare for Pharma” platform with a group of early adopters, who have served to validate the scalability of the platform and the strength of the value proposition.
“iSquare has allowed us to automate otherwise time consuming data analysis processes, as well as improve and facilitate the standardization of our data analysis procedures. Moreover, it has enabled us to work with large data sets and successfully extract valuable information from it, shining new light on our research.”
Customers can choose how to deploy iSquare, although the best results are obtained by running on the iSquare cloud. iSquare can be deployed by customers in an on-premise environment, on standard cloud infrastructure, or on the iSquare cloud. The advantage of the iSquare cloud is that, like any cloud deployment, it is fully elastic and scalable, but in addition, it is fully pay-as-you-consume and optimized for AI.
*Sources: McKinsey, IDC, SquareFactory