NEW DELHI: UST, a leading digital transformation solutions company, has opened a new office and state-of-the-art Generative AI Experience Center in Cyberjaya, Selangor, Malaysia. This facility will act as a hub for innovation and collaboration, bringing together leaders and thinkers at the forefront of the Generative AI space to drive digital transformation in Southeast Asia and beyond.

The new Cyberjaya facility is UST’s third delivery center in Malaysia and will develop cutting-edge AI solutions for use in a diverse range of market sectors, including banking, manufacturing, retail, O&G, telecom, and education. The GenAI Center of Excellence in Malaysia will elevate customer experiences across Southeast Asia to improve both the engineering services and the digital portfolio of UST. A key focus area will be developing custom Large Language Models (LLMs) tailored to specific business needs. Additionally, work conducted at the Center of Excellence will empower cloud, infrastructure, and cybersecurity applications, automating backend tasks and digitizing front-end user experiences, benefiting both engineering and GBS teams.

The facility was formally opened on November 11, as part of a ceremony featuring notable tech industry leaders and government officials including: Y.A.B. Dato’ Seri Amirudin Bin Shari, Menteri Besar (Chief Minister) of Selangor state; Wan Murdani Wan Mohamad, Senior Vice President of Malaysia Digital Economy Corporation (MDEC); Puan Nor Suhaila Binti Saat, Director, Sepang Municipal Council; Kamarul Ariffin Abdul Samad, Chief Executive Officer, Cyberview Sdn Bhd; TS Koay, Managing Director Dell Technologies Malaysia, Chai Ping Chua, Country Site Leader Experian Malaysia, Sunil Balakrishnan, CVO & Global Head of Center Operations, UST; Gilroy Mathew, Sr Vice president, UST; and Amar Chhajer, Vice President & Country Head Malaysia, UST.

“The opening of this advanced new delivery center will enhance our ability to support the growing Malaysian and Southeast Asian markets and position us for further growth in this dynamic region. UST’s focus on Generative AI aligns with the current digital landscape and will empower businesses to harness the potential of AI and automation to drive digital transformation. We’re grateful for the support of our partners and stakeholders, who have been instrumental in fostering a strong tech community here in Malaysia. UST’s focus on Generative AI aligns with the current digital landscape and will empower businesses to harness the potential of AI and automation to drive digital transformation,” said Amar Chhajer, Vice President & Country Head – Malaysia, UST.

“UST is a key partner in our mission to develop digital infrastructure and nurture local tech talent. The UST Gen AI Center of Excellence is exactly the type of forward-thinking initiative that will help propel Malaysia into the next phase of digital evolution. It will be a catalyst for research and development in AI, helping to unlock new opportunities and insights across a wide range of sectors. UST’s commitment to Malaysia’s thriving tech ecosystem has been instrumental in helping transform this sector of our economy. Over the past decade, UST has invested in developing over 10,000 engineering professionals in Malaysia, contributing to the creation of a dynamic and resilient digital ecosystem,” said Y.A.B. Dato’ Seri Amirudin Bin Shari, Menteri Besar (Chief Minister) of Selangor state.

UST began operating in Malaysia in 2006, opening its first center in Penang in 2011. This location also became home to UST’s first Infinity Lab in 2020, supporting innovation that has helped UST expand operations throughout Southeast Asia. UST Malaysia has grown to become one of the company’s biggest delivery center locations in the world and there are currently over 1,500 USsociates in Malaysia. UST Malaysia has two delivery centers in Penang. UST is certified as a ‘Great Place to Work’ in Malaysia.

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EtonGPT is embedded within the AtlasFive® ERP platform

BENGALURU: Eton Solutions, a leader in comprehensive wealth management ERP systems for family offices has announced the launch of EtonGPT the world’s first GenAI module for family offices globally. EtonGPT integrates the powerful transactional capabilities of Eton Solution’s ERP platform, with sophisticated conversational AI functionalities.

Eton Solutions will enable the majority of the 750 families on AtlasFive® to benefit from EtonGPT. It will be available exclusively to AtlasFive® users to enhance the productivity of their family offices.

EtonGPT will improve family office operations by seamlessly integrating data stored in documents with transaction data on AtlasFive®, thereby helping streamline processes and leading to a boost in productivity. Several of Eton Solutions’ clients, including Shade Tree Advisors (US), Todd Family Office (New Zealand), and Aglaia Family Office (Singapore) have been using this new AI-enabled platform. It will allow them to access information and conduct in-depth analyses of their investment and asset portfolios.  EtonGPT doubles up as both an internal search and data extraction tool within the secure centralized database of the cloud-native AtlasFive® ERP platform.

Backed by pending patents, this hybrid AI platform marries the best features of various AI technologies. It incorporates machine learning, expert systems-based business rule engines, and large language models to deliver unparalleled accuracy and insights. It leverages AI-driven data extraction, summarization, generation, inferencing, and transformation to help family offices operate more efficiently and securely.

Satyen Patel, Eton Solutions’ executive chairman said, “Our AtlasFive® solution was the first to offer a centralized data platform that had integrated structured data processing across accounting, investment, and tax functions.  With the launch of EtonGPT, the world’s first family office LLM, we are embracing cutting-edge technology and reshaping the future of family office management across the globe. AI is increasingly being deployed across businesses. While family offices have largely remained rooted in manual processes, with the integration of AI, they will undergo an unparalleled change, making them resilient and future-ready.

With EtonGPT, AtlasFive® can now parse and integrate data buried in more than 250 document types such as trust plans, estate plans, and partnership agreements. This combination of structured and unstructured data processing offers wealth managers the ability to gain a 2 to 4X increase in operational efficiency.

EtonGPT will offer a foundational shift platform enabling family offices to elevate their legacy, strengthen corporate governance, and provide high value to the HNWIs and UHNWIs they serve.”

Timothy C. Macherone, Chief Operating Officer of Shade Tree Advisors LLC, said, “I do not doubt that EtonGPT can be a potential game-changer.  In deploying the AI-based technology, which involved leveraging EtonGPT to automate our document organization and retention processes, we reduced human involvement by 50% and met our accuracy goals. Similarly, we see countless opportunities to unlock efficiencies in our legacy processes through the use of EtonGPT in many verticals, including calculating and posting mark-to-markets on private investments, logging invoice information, and summarizing estate planning documents.”

Andrew Hull, Chief Executive of Todd Family Office, said, “AI is reshaping how we do everything at the Todd Family Office, and our partnership with Eton Solutions has been beneficial. We have faced challenges in fixing AI hallucinations and are worried about the potential misuse of these tech marvels. We’re working with Eton Solutions to pioneer a Responsible AI framework that harnesses the full power of AI with transparency, ethics, and trust at its core.  Together, we’re setting the standard for the future of AI for family offices.”

Stephen Hunt, Chief Executive Officer of Aglaia Family Office Pte. Ltd., said, “Aglaia Family Office is proud to be pioneering the setup of automated and AI-powered consolidated portfolio reporting and analytics solutions in Asia. Our commitment goes beyond just automation—we’re focused on the responsible use of AI, ensuring that its integration into our operations enhances not only efficiency but also strengthens timeliness and accuracy. EtonGPT’s early success reassures us that, with Eton Solutions, we’re on the right path.”

As AI’s power is increasingly integrated into modern organizations, Eton Solutions recognizes cybersecurity challenges from traditional threats such as phishing, malware, and data breaches are expanding to include AI-based risks such as deepfakes, misuse, and algorithmic bias. To lessen or mitigate these risks, Eton Solutions is working with its Customer Advisory Board to introduce frameworks that encompass ethics, safety, transparency, trust, and security.

EtonGPT is designed to ensure a robust, secure, and ethical environment for family office operations.

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The conference witnessed participation from over 500 attendees, featuring keynote addresses and panel discussions by a power-packed line-up of speakers. TiE Bangalore also announced the winners of the prestigious Matrix 2024 Startup Awards. The Matrix Global Summit 2024 featured an extensive program with over 30 keynotes, panels, and workshops led by 80+ speakers. The rich discussions covered various deep tech areas, including Generative AI, new-age manufacturing, blockchain, industrial sustainability, agritech, and robotics. 

During a speech at the 9th TiE Bangalore Matrix Forum, Dr. Ajai Chowdhry Co-Founder of HCL and founder, of EPIC Foundation India highlighted that India stands at a pivotal moment in its technological journey, transforming from a service-based economy to a formidable product nation. Leveraging the power of Artificial Intelligence, we can drive innovation and create and manufacture world-class products for global markets. Our government’s progressive policies are laying the foundation for this transformation. We must foster a robust ecosystem that encourages startups, supports research and development, and bridges the gap between academia and industry. As we harness AI’s potential, we are not just participants but leaders in the global tech arena. Let’s embrace this opportunity to position India as a beacon of innovation, shaping a future where our products define the world stage.

At the 9th Matrix Global Summit, Arvind Tiwary, Futurist and Co-Founder and Chairman Emeritus of Matrix Forum took us on a journey on what the future holds. He stated, “Generating profit from GenAI applications may take a considerable amount of time. Large language models (LLMs) will exhibit imaginative tendencies, hallucinations, and stereotype biases akin to human behavior. Effective AI regulation demands a diverse range of specialties, contrasting with the flawed US model that relies solely on AI suppliers for safety oversight—comparable to asking cigarette manufacturers to regulate smoking. The future might lean towards analog technologies and synthetic biology, with innovations like Xenobots offering a glimpse into this potential direction”.

Winners of the Matrix Startup Awards:

The summit celebrated the achievements of emerging startups through the prestigious Matrix Startup Awards. The 2024 Winners are

Matrix Startup Awards Scale-up category:

• Winner – Suzhiyam Industrial Machines (Municipal solid waste to Industrial Process heat for hard-to-abate sectors like Cement and Steel)
• 1st runner up – Whrrl (Decentralized blockchain-based warehouse receipt financing for Agri produce)
• 2nd Runner up – Ayati Devices (Diabetic Neuropathy detection and monitoring device)

Matrix Startup Awards Innovation  category:

• Winner – Chara Technologies (Pioneer in rare-earth free motor and drive systems)
• 1st runner up – Next Big Innovation Labs (Customizable 3D Bio-Printing technology) 
• 2nd Runner up – Meukron Technologies (microfabrication of MEMS packaging and microfluidic devices in  semiconductor and biomedical industries)

Jury Special Impact Award: 

• Padcare Labs (Pioneering technology  in recycling of used sanitary pads)

Major Announcement at Global Matrix Summit:

• Clodura.AI Secures $2 Million Investment from Bharat Innovation Fund: Clodura.AI, the GenAI-powered “sales companion,” platform raises $2 million to transform sales prospecting to closure with its ability to find decision-makers, gather intelligence, automate outreach, and create a 10X sales pipeline.
• IIIT Bangalore partners with Matrix Forum to strengthen its Deeptech Startup Incubation Program ORBIT: This partnership will provide startups with tech expertise, GTM mentors, test beds, customer and partner connections, and investor connects, incubating 10-12 early-stage deeptech startups annually.
• Algorand Foundation announces the Faculty Development Programme on Next Gen Educators: The program aims to equip educators with blockchain fundamentals, decentralized application development, curriculum integration, and cutting-edge research, leading to a proficiency certificate.
• Next, Big Innovation Labs launches TRIVIMA PRO, Customizable 3D Bioprinting Technology: TRIVIMA PRO, a Made in India technology, enables the on-demand creation of human/living tissues, paving the way for innovative pharmaceutical testing and potential organ printing.

These significant announcements at the Matrix Global Summit underscore the transformative advancements in technology and education, driving innovation and growth in the industry.

Speaking at the event, TR Anand, Chair, Matrix Forum and Board Member of TiE Bangalore said “The 9th Matrix Global Summit has once again demonstrated the incredible potential of Deeptech and Generative AI to transform industries and improve lives. India is poised to become a global leader in these fields, and the announcements made today underscore our commitment to fostering innovation and collaboration. We are excited about the future and look forward to seeing the revolutionary advancements that will emerge from this summit.”

Madan Padaki, President, of TiE Bangaluru stated, “The energy and innovation showcased at the 9th Matrix Global Summit have been truly inspiring. The collaborations and breakthroughs presented here highlight India’s growing influence in the fields of Deeptech and Generative AI. We are eagerly anticipating the next chapter at the TiE Global Summit in December, where we will continue to drive forward with even more groundbreaking ideas and partnerships.”

At TiE Matrix Forum, we are thrilled to witness the impactful outcomes of the 9th Matrix Global Summit, which underscore India’s prowess in Deeptech and Generative AI. The collaborations and advancements showcased during the event highlight the spirit of innovation driving our tech community. We eagerly anticipate further exploration of transformative ideas and the cultivation of new partnerships globally that will continue to propel our ecosystem forward, said Rahul Mathur, Conference Chair, TiE Matrix Global Summit 2024.

Attendees had the opportunity to connect with industry leaders, visionaries, and professionals worldwide, creating valuable connections and opening doors to global business opportunities. The sessions provided deep insights into emerging areas such as AI, IoT, quantum computing, and other disruptive technologies reshaping industries. Led by renowned experts, these sessions offered practical and actionable knowledge to help organizations navigate the evolving tech landscape.

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Under the partnership, Danfoss, the Danish multinational engineering group, will use Google Cloud’s generative AI capabilities to optimize the customer experience, streamline internal work processes, and improve productivity across the organization. This can be done, for example, by using gen AI to collect and surface information, automate knowledge, generate product descriptions, and create solutions with chatbots in e-commerce.

As a global leader in energy-efficient solutions, Danfoss is working with Google to implement sustainable cooling systems for data centers and to design systems that reuse the excess heat produced by data centers. Danfoss Turbocor® compressors provide highly reliable, highly efficient solutions when expertly applied by OEM partners and are being installed by Google to improve energy efficiency and decarbonize heating and cooling systems in data centers.

Ravichandran Purushothaman, President- of Danfoss India Region said, “Danfoss and Google’s strategic partnership will accelerate the digital transformation of customer experience. Leveraging the latest technological advancements in AI and energy efficiency in Data center operations will help Danfoss’ customers to achieve common objectives of sustainability, operational excellence, and business performance.”

Meanwhile, Danfoss’ heat reuse modules will make it possible for Google to capture and reuse heat produced by data centers, providing a renewable energy source to supply heating on-site and to neighboring commercial and residential buildings, communities, and industries that need heat for their processes. Going forward, Danfoss’ expertise in decarbonization solutions will be used to an even greater extent to advance data center sustainability in Europe, North America, and beyond.

Anju Mary Kuruvilla, Director of industry affairs, Communications, Sustainability& CSR said, “The solution will have the capability to help customers achieve their sustainability and energy transition objectives by providing advanced monitoring and optimization insights into the carbon emissions and energy usage.”

The new agreement, announced during the AHR Expo in Chicago, USA, builds on an existing collaboration between the two companies, which were among the founders of the Net Zero Innovation Hub in Fredericia, Denmark, announced in September 2023, where several major players joined forces to accelerate the green transformation of data centers. Danfoss and Google are now taking a step further by entering into a broader partnership.

Jürgen Fischer, President, of Danfoss Climate Solutions, said: “At Danfoss, we want to revolutionize how we build and decarbonize data centers together with our customers. When we partner up across industries, as we have done with Google, we accelerate this development towards building better and more sustainable data centers – using technologies available today.”

Google Vice President of Data Center Innovation, J.P. Clausen, is excited about the collaboration. “This is a great example of a partnership utilizing each other’s strengths and using technology to optimize the customer experience, increase productivity, and reach sustainability goals. Danfoss is a leader in energy efficiency, and these solutions help support Google’s 2030 goal of running our data centers on carbon-free energy 24/7. We’re happy to deliver AI innovation through Google Cloud, enabling businesses like Danfoss to operate in new and smarter ways,” says J.P. Clausen.

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