'nRoad,' a Boston-based startup, has launched 'Convus,' a large-scale data solution for consolidating unstructured data. nRoad has noted that over the years, many businesses have taken a "save everything" approach to data without having the foresight to structure this data for ease of recollection. Convus is meant to be inputted with a large amount of data while structuring and organizing this data.
Convus utilizes a set of AI-powered learning algorithms combined with a modular layout to structure data. The Convus platform is format-agnostic, customizable, and non-intrusive to the systems it interfaces with. On top of this, Convus performs its tasks more quickly than competitors on top of being able to handle a larger volume of data and a wider variety of data types because of its deep learning algorithm.
AI-Powered Data Solutions
nRoad's 'Convus' Uses AI to Structure and Store Large Amounts of Data
Trend Themes
1. AI-powered Data Structuring - Businesses are seeking out AI-powered data solutions to structure and organize large amounts of unstructured data with ease.
2. Customizable and Non-intrusive AI Data Management - Data management solutions that are format-agnostic, customizable and non-intrusive to business systems are in demand and being developed with the use of AI.
3. Deep Learning Algorithms in Data Management - Deep learning algorithms used in data management are allowing for faster processing of data that can handle a larger volume of data and diverse data types with ease.
Industry Implications
1. Information Technology - IT companies are utilizing AI-powered data solutions in their software to provide customers with a better and more efficient data management experience.
2. Financial Services - The financial services industry is using AI-powered data solutions to handle vast amounts of financial data and track financial trends across markets with ease.
3. Healthcare - The healthcare industry is turning to AI-powered data solutions to manage patient data, electronic medical records and to process medical data to aid in research and development of new treatments and medications.