Carnegie Mellon University, Egen and UltronAI Announce Strategic Partnership to Collaborate on AI-Driven Industry Solutions

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Dec 12, 2024, 09:00 ET

Deep data and engineering expertise resident in advanced AI labs will benefit organizations moving from the possible to the practical in adopting AI-driven solutions

NAPERVILLE, Ill. and PITTSBURGH, Dec. 12, 2024 /PRNewswire/ -- Egen and UltronAI in collaboration with Carnegie Mellon University today announced a strategic partnership to bring new, innovative AI-based industry solutions to retail, health, life sciences, media and entertainment, and public sector clients.

Carnegie Mellon University, Egen and UltronAI Announce Strategic Partnership to Collaborate on AI-Driven Industry Solutions

The partnership will take advantage of the rich talent from Carnegie Mellon University, the top program in the country for AI, to harness research and development that can address complex, real-world challenges and opportunities. CMU is an institutional stakeholder in UltronAI, which piloted and commercialized an AI-based computer vision engine that enables fast, accurate identification of products, objects, people, and actions for retail and other industry segments. Egen brings deep data and engineering talent with a track record of using the latest AI developments to create groundbreaking and impactful industry solutions, moving from pilot to production with agility and speed.

"The collaboration between Egen, CMU and UltronAI will focus on co-creating AI-powered industry solutions for both commercial and public sector clients. These solutions will draw on the intellectual capital and deep expertise of each organization and apply both advanced AI technology and leading research to real world problems," said Saleem Janmohamed, Chairman and CEO of Egen.

"At UltronAI, our passion lies in developing cutting-edge computer vision AI solutions that will contribute to the transformative work that Egen undertakes for organizations to tackle real-world challenges. Egen, UltronAI, and CMU together are a powerhouse of AI excellence—a force multiplier poised to revolutionize industry by delivering groundbreaking, high-impact AI solutions powered by the brightest minds in the field," said Marios Savvides, Founder, Chairman, and CTO of UltronAI and the Bossa Nova Robotics Professor of Artificial Intelligence, Electrical and Computer Engineering at Carnegie Mellon University.

Backed by more than 50 patents, and two decades of research, UltronAI's mature computer vision platform has been used to solve the U.S. government's hardest identification problems. Today, that technology is being used in retail to reduce shrink and optimize operations by delivering a high-performance and cost-effective computer vision solution that can operate accurately in real-world environments. UltronAI's platform overcomes typical challenges related to deploying computer vision at scale in retail, including accuracy in mixed environments, scalability costs and performance, and operational efficiency.

"We believe this partnership will be very valuable for Carnegie Mellon University, UltronAI, and Egen. It will bring Egen clients access to advanced research and development by the leading minds in the AI field at Carnegie Mellon and UltronAI, along with using Egen real-world insights to bring these solutions to more clients across industries," said Frank D'Souza, Co-Founder and Managing Partner of Recognize, a strategic investor in Egen. D'Souza serves on the Carnegie Mellon University board of trustees.

About Carnegie Mellon University
Carnegie Mellon University challenges the curious and passionate to imagine and deliver work that matters. A private, global research university, Carnegie Mellon stands among the world's most renowned educational institutions, and sets its own course. Over the past 10 years, more than 400 startups linked to CMU have raised more than $7 billion in follow-on funding. With cutting-edge brain science, path-breaking performances, innovative startups, driverless cars, big data, big ambitions, Nobel and Turing prizes, hands-on learning, and a whole lot of robots, CMU doesn't imagine the future, we create it. Learn more at cmu.edu.

About Egen
Egen works with organizations across industries, engineering new possibilities with platforms, data, and generative AI to empower people and deliver impact for the better. Our more than 700 technology specialists in Canada, Europe, India, and the United States have extensive knowledge and experience working across all the leading cloud and data platforms, with a strategic focus on Google Cloud and Salesforce, to advance organizations further and faster along their transformation journeys. Learn more at egen.ai.

About UltronAI
UltronAI, a CMU spin-off, helps retailers, retail solution providers, and retail systems integrators build more effective solutions to reduce shrink or optimize operations by delivering a high-performance and cost-effective computer vision solution that can operate accurately in real-world environments.

Capitalizing on more than two decades of research and 50+ patents, UltronAI's mature computer vision platform is AI-powered and purpose-built for unsurpassed accuracy and speed when detecting, identifying, and tracking products, carts, and people under challenging environmental conditions. In addition to working effectively across thousands of stores and supporting hundreds of thousands of products, UltronAI makes accurate computer vision financially viable for retailers by minimizing both initial deployment and ongoing operational costs. Learn more at ultronai.com

SOURCE Egen