Kazakhstan's Prime Source joins US-based FatBrain AI to build AI-powered cloud solutions together for growing mid-sized companies worldwide
The Prime Source group of companies, one of Kazakhstan's largest software developers, is joining forces with the US company FatBrain AI.
FatBrain AI (LZG International, Inc.; OTC: LZGI) is a leading provider of powerful, easy-to-use AI services for small and medium-sized enterprises on a subscription model
"There are more than 213 million so-called small and medium-sized companies in the world today. Together they generate more than half of gross revenue and account for around 70% of jobs. Combining the efforts of FatBrain and Prime Source will accelerate the creation and development of powerful tools of a kind previously available only to the largest corporations. This combination gives us powerful momentum," says Peter B. Ritz, co-founder and CEO of FatBrain AI.
"FatBrain's mission is to give enterprises a system that enables well-informed decision-making and thereby saves time and money and increases profits. That is how we help the business itself, along with its customers, suppliers and partners," says Dr. Rajarshi Das, co-founder and head of R&D at FatBrain.
“The software we have created is used by a great many Kazakhstani and foreign companies. We have hundreds of projects behind us, and the group now employs more than four hundred people. We are delighted to be joining FatBrain AI to build together the highly promising and exciting services that will let small and medium-sized businesses operate at the same level as the largest players,” says Evgeny Scherbinin, CEO of Prime Source.
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Background:
Prime Source has been in business since 2007. The group specializes in business process optimization, robotic process automation, data management, and risk management and forecasting systems. It is Kazakhstan's largest independent software developer. According to Kursiv Research, the group ranks fifth among Kazakhstani software companies. Its clients include major banks and government and oil and gas enterprises not only from Kazakhstan but also from the United States, the UAE and the CIS countries. Customers range in size from startups to multibillion-dollar enterprises. Prime Source uses machine learning, blockchain and big data analytics in its development work.
The co-founders of FatBrain AI are people with vast IT experience. Dr. Rajarshi Das took part in creating IBM's Watson supercomputer and for 16 years led the project applying artificial intelligence on it. Peter B. Ritz was one of those who originally devised and popularized the QR code. Observable Networks, the company he founded, which specialized in cloud network security services, was acquired by Cisco.