Inc.’s 4th annual list recognizes Iterate.ai for its open source AI threat detection model and its role in accelerating organizations’ goals with AI
SAN JOSE, Calif., Dec. 05, 2023 (GLOBE NEWSWIRE) — Iterate.ai, whose AI innovation ecosystem enables enterprises to build production-ready applications, today announced that the company has been named to the Inc. 2023 Best in Business list in the AI & Data category. Inc.’s Best in Business Awards honor companies that have made an extraordinary impact in their fields and on society.
The list, which can be found in the Winter issue of Inc. magazine (on newsstands December 12), recognizes the most dynamic companies of all sizes and industries that have had an outstanding influence on their communities, their industries, the environment, or society as a whole.
Iterate.ai has demonstrated a commitment to society by utilizing its deep AI capabilities to make the world safer. For schools and non-profits, Iterate.ai built and trained an AI model and application for weapons detection and threat awareness. Rather than selling the software and the design, Iterate.ai open-sourced its work, giving the technology away for free to non-profit groups and schools. “We believe that school tax dollars should go to buying computers and supplies (items needed every day) rather than paying for threat detection software which is unlikely to be needed—but potentially lifesaving in the event of an armed intruder situation,” said Jon Nordmark, CEO, Iterate.ai.
The system was built by Iterate.ai’s AI team, half of whom were part of Apple’s Secret Products Group that invented the first iPhone. The team trained the model on more than 20,000 intrusion and armed robbery videos, and brought in a former DEA agent to assist with live tests. The software runs on NVIDIA GPUs and instantly detects dozens of gun types, Kevlar vests, balaclavas, and knives. The system’s automatic detection capabilities prompt an instant reaction, even before a human sees a threat indicator.
“The power and potential for AI to improve our world—especially when it comes to lifesaving protections that make schools and other locations safe from physical threats—is too important to restrict within expensive or proprietary confines,” said Brian Sathianathan, CTO of Iterate.ai. “We’re immensely proud of the weapons detection and threat awareness technology we’ve created, and to share it as a free and open source technology for schools and nonprofits to achieve greater security and safety.”
Iterate.ai is also recognized for the positive impact it has made across its industry throughout 2023. Iterate.ai recently launched Interplay-AppCoder, a fine-tuned large language model (LLM) able to instantly generate working and updated code for production-ready AI applications using natural language prompts. This generative AI code-generation LLM significantly accelerates the development cycle for organizations across industries, and is outperforming other AI-driven coding solutions.
Iterate.ai’s patented enterprise AI capabilities have impacted enterprise customers in several industries over the past year. These include Ulta Beauty and Circle K, which have used Iterate.ai’s solutions to bring innovative new applications to market significantly faster than through traditional coding. This speed helped each company deploy its cutting-edge applications at a fraction of the cost. For example, Ulta has debuted new guest services chatbots. Iterate.ai is now building private LLMs that deliver cutting-edge generative AI capabilities in close collaboration with several other customers, including beauty, luxury, banking, insurance, and wholesale brands.
“Being named to the Best in Business list is a rare and special honor,” said Eric Hagerman, Special Projects Editor at Inc. “These honorees demonstrate the foresight, caring, and dedication to prioritize positive impact—impact on their community, on their industry and the environment, and even on society as a whole.”
Rather than relying on quantitative criteria tied to sales or funding, Inc.’s editors reviewed the companies’ achievements over the past year and noted how they made a positive difference in the world. They then selected honorees in 70 different categories – from advertising to sustainability to retail, and more – and in age-based, revenue-based, size-based, and impact-based categories.
Iterate.ai is at the forefront of empowering businesses with state-of-the-art AI tools and technologies. Its platform, Interplay, is cloud-agnostic and can run AI on the edge and in secure private environments. With five patents granted (including “drag-n-drop AI”) and nearly a dozen more pending, Iterate.ai’s platform offers corporate innovators a low-risk, systematic way to scale in-house, near-term digital innovation initiatives. With its largest office in San Jose, CA and Denver, CO, Iterate.ai has a global presence with other offices in North America (Texas, Washington, Arizona), Europe (Stockholm), and Asia (India, Sri Lanka, Singapore).
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
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