REYKJAVIK, Iceland, July 1, 2024 /PRNewswire/ —  Lucinity has received the 2024 ICA Award for Innovation in Financial Crime Prevention, recognizing its exceptional AI innovations, including the Luci copilot. The ICA Compliance Awards celebrate excellence in compliance and financial crime prevention, and Lucinity’s Generative AI copilot, Luci, stood out for its significant impact on operational efficiency.

 
Luci, launched in 2023, transforms complex financial data into actionable insights using generative AI. It reduces case investigation times from an average of three hours to just 30 minutes, resulting in substantial cost savings. A Tier 1 bank can potentially save up to $36 million annually in training and recruitment costs and boost productivity by $100 million yearly.
Luci includes out-of-the-box skills such as case summarization, business validation, adverse media and negative news searches, money flow visualizations, transaction summaries, writing and sending requests for information (RFI), generating Suspicious Activity Reports (SARs), and address checks. These features allow compliance teams to shift their focus from manual tasks to higher-level decision-making.
To further enhance its offerings, Lucinity recently launched the Luci plugin, enabling seamless integration with any web-based application. The plugin is platform agnostic, allowing it to be incorporated into various tech stacks, including case management systems and CRMs. Financial institutions can immediately benefit from AI and automation, leading to a more efficient and consistent workforce and productivity boosts of up to 90%.
Lucinity continues to ensure maximum security and responsible AI development through its integration with Microsoft’s OpenAI on Azure. Lucinity also recently launched the Luci Studio where users can customize their AI copilots in a no-code, drag-and-drop user interface, providing full explainability for the actions that AI takes. 
Founder and CEO of Lucinity, Guðmundur Kristjánsson, expressed his gratitude, stating, “2023 and 2024 have been transformative years for Lucinity. With seven large banks now requesting to trial Luci and widespread interest in our AI copilot, we’ve received numerous accolades and media attention. Luci is proving to be an essential tool in financial crime operations.”
This award follows several other achievements by Lucinity in 2024, such as the inclusion in the Fintech100 list, winning the Microsoft Partner of the Year Awards, and acknowledgment in Chartis Research’s FinCrime and Compliance 50 Ranking for 2024.
The full list of winners for the ICA Compliance Awards 2024 can be found here.
Contact:Celina [email protected] +354 792 4321
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Vivity is expanding globally, landing customers in the United States, Southeast Asia, and the Middle East, as heavy industry customers span geographies yet work similarly around the world.
SAN ANTONIO, July 1, 2024 /PRNewswire/ — Frost & Sullivan assessed Industrial AI for heavy industry, and based on its findings, recognizes Vivity AI Inc. with the 2024 Global Entrepreneurial Company of the Year Award. The company offers industry-specific AI products with its data expertise in the heavy industry. It developed an end-to-end AI platform based on 3 pillars: Vivity Edge to identify and track processes, Vivity Analytics to analyze data and obtain actionable insights, and Vivity Studio to manage and operate AI. It offers incremental steps—from Edge to Analytics to Studio, helping customers set up their own data science or AI team once they are ready to proceed. Vivity Edge is lightweight and focuses on point use cases initially so that customers can quickly deploy it in a few months without having to set up a whole data collection pipeline.

Vivity Edge provides highly reliable failure detection with a low false alarm rate and cost-effective deployment, whereas Vivity Analytics comes with state-of-the-art generative AI and LLM. The built-in data quality analyzer of Vivity Analytics relies on understanding the heavy industry’s metal working processes. Focused on heavy industry customers, Vivity has found a blue space opportunity where it leverages AI to help transform this sector. Vivity’s multiple algorithms work in extreme video stabilization under different conditions, such as sunlight, shade, and extreme vibration because the environment is often harsh. The company leverages its connections and expertise to create good reference cases and develop its AI technology for heavy industry.
Sankara Narayanan, Industry Director, Frost & Sullivan, observed “General-purpose MLOps or out-of-the-box AI platforms designed for the manufacturing sector cannot solve the kind of problems that heavy industries face. Here is where Vivity excels. The company built its AI platform from the ground up for particular verticals of heavy industry, making many of the technologies’ core features competitive differentiators, including extreme video stabilization, multi-modal response, smart and dynamic ROI computation, operation condition identification, and hyper-feature detection.”
Vivity has a fairly large computer vision team with staff from leading companies such as Cognex and Samsung, and technologies horizontally applicable in construction and logistics. Its data science team focuses on predictive analytics and uses data for tracking and optimization of product quality and workflow. From cloud and micro-servers to on-premises deployment, Vivity offers a wide range of customizable options to meet its customers’ various infrastructure needs. Its drone-based image analysis and sensor technology enable real-time awareness and advanced ML-driven scheduling optimization while a highly scalable industry approach supports the company’s coherent vision.
“Vivity’s customizable deployment options; seamless AI adoption journey; task-oriented, domain-specific AI modules and user-driven use cases such as workplace safety and critical equipment monitoring, enhance customers’ operational efficiency and value proposition. The company has grown significantly in the last 18 months and continues to expand globally on its way to become the AI platform of choice for heavy industry customers worldwide,” added Sankara Narayanan. Vivity earns Frost & Sullivan’s 2024 Global Entrepreneurial Company of the Year Award for its strong overall performance in the industrial AI for heavy industry space.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & SullivanFor 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. Contact us: Start the discussion.
Contact:Lindsey WhitakerP: 1.210.477.8457E:[email protected]
About Vivity AI Inc.
Founded in 2022 by experienced industry professionals, Vivity AI Inc. is at the forefront of AI applications within heavy industry. Providing solutions to world-leading enterprises in shipbuilding, energy, heavy manufacturing, construction and beyond, Vivity AI is advancing a more efficient and sustainable future for all. Contact us: Revolutionize Heavy Industry.
Contact:Divya J. SinghP: 1.925.523.0007E: [email protected]
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ATLANTA, July 1, 2024 /PRNewswire/ — AMI®, the global leader in Dynamic Firmware for worldwide computing, today is pleased to announce the complete validation and compliance of its MegaRAC® SP-X manageability solution with the NVIDIA Validation Suite (NVVS) and on NVIDIA MGX modular platforms, powered by the NVIDIA GH200 Grace Hopper Superchip.

AMI’s industry-leading MegaRAC SP-X Server Management Solution offers unparalleled remote management capabilities for server platforms. Its seamless performance and reliability consistently ensure the stability, safety, and security of managed servers.
NVVS serves as a purpose-built, system-level tool intended for use in production environments to evaluate cluster-readiness levels prior to workload deployment. The validation procedure aims to address hardware defects, software and system configuration issues, diagnostic and logging deficiencies, performance degradation, and much more. Its meticulous execution helps resolve these issues, facilitating the seamless deployment of cloud-ready AI platforms.
AMI continues to deploy its global resources to support CSPs/OEMs/ODMs worldwide, powering its NVIDIA GH200 Grace Hopper Superchip-based server platforms designed for high-performance computing (HPC) and AI applications.
AMI is a member of the NVIDIA Partner Network.
“By adding compliance for the NVIDIA Validation Suite to our MegaRAC SP-X Server Management Solution, we are delivering high levels of confidence and compatibility to CSPs, OEMs, and ODMs as they roll out their latest NVIDIA MGX server platforms with NVIDIA Grace CPU and NVIDIA Grace Hopper Superchips,” says Anurag Bhatia, SVP – Global Manageability Solutions Group at AMI.
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AMI® and MegaRAC® are registered trademarks of AMI in the US and/or elsewhere. All other trademarks and registered trademarks are the property of their respective owners.
About AMI
AMI is Firmware Reimagined for modern computing. As a global leader in Dynamic Firmware for security, orchestration, and manageability solutions, AMI enables the world’s compute platforms from on-premises to the cloud to the edge. AMI’s industry-leading foundational technology and unwavering customer support have generated lasting partnerships and spurred innovation for some of the most prominent brands in the high-tech industry.
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