NEW YORK, May 24, 2023 (GLOBE NEWSWIRE) -- Elemental Cognition (EC), the Bridgewater-backed generative AI company founded by the creator of IBM Watson, Dr. David Ferrucci, and Runyon, a human-centered product design and venture studio, announced today a services alliance that formalizes the two companies’ years-long working relationship.
The partnership builds on the growth strategy and design work that EC began with Runyon in 2016 as a means of identifying use cases for generative AI across industries. Today, Runyon and EC continue to work with companies to design AI-powered applications that lead the market.
According to EC founder and CEO Dr. Ferrucci, “We value Runyon’s ability to identify user needs that can benefit from EC’s technology. Our partnership increases our distribution into businesses that need to improve speed, cost, and effectiveness at scale. EC’s AI has the advantage of precise reasoning and accurate, explainable results, making it a perfect fit for companies that require the highest compliance and regulatory standards.”
“At Runyon, we use a research-led approach to design digital products and ventures, giving us a keen sense of the needs and behaviors of real people. By bringing that human context and business foresight to the partnership, we’re able to pinpoint very real, practical applications for EC’s technology while helping our client partners to deliver value-accretive digital experiences,” said Runyon founder and partner Anthony D’Avella.
Most recently, EC collaborated on the digitally native claims processing system for Reserv, a venture-backed third-party administrator (TPA) for property and casualty insurance incubated by Runyon and its VC partners. The tech-enabled TPA uses EC’s platform to optimize claims processing via complex data ingestion and automated coverage decisioning, empowering a new generation of adjusters and claims leaders through EC’s generative AI capabilities.
About Elemental Cognition
Elemental Cognition (EC)’s Generative AI reliably delivers correct solutions to your hardest problems. Our mission at EC is to accelerate and improve critical decision making for complex, high-value problems where trust, accuracy, and transparency matter. EC applies Large Language Models (LLMs) in combination with a variety of other AI techniques to ensure accurate solutions to complex, dynamic problems.
EC was founded in 2015 by Dr. David Ferrucci, the renowned AI researcher and inventor of IBM’s breakthrough Watson technology, to create the next wave of AI that accelerates and improves critical decision making across industries and use cases. Visit us at https://www.ec.ai.
About Runyon
Runyon (https://www.runyon.io) is a NY-based product design and venture studio that helps companies grow. We use a human-centered approach rooted in qualitative research, design, and growth strategy to solve for real needs and differentiated opportunities. Runyon works with a broad range of client partners, from established Fortune 100 companies to venture capital firms, and specializes across the industries of Financial Services, Insurance, Media & Entertainment, Technology, and E-commerce.
Media Contacts
For more information, contact Anthony D’Avella at anthony@runyon.io or Carly Bourne at The Bulleit Group, carly@bulleitgroup.com.
