London, UK & Beijing, China. 4 August 2022 – Laiye, a global provider of Intelligent Automation, is to acquire Intelligence Qubic, which is described as an “evolutionary automatic machine learning (AutoML) company”. Terms of the deal have not been disclosed.
Wang Guanchun, chairman and CEO of Laiye Technology, says, “The acquisition of Intelligent Qubic is another key milestone for Laiye as we continue to build an integrated Intelligent Automation platform. Deploying end-to-end intelligent automation solutions means our customers can see significant improvements in efficiency, productivity, cost-savings, and ultimately more successes along their digital transformation journey.”
Manual document processing is commonly time-consuming, menial, and lacking creativity or strategic impact, which means employees tasked with carrying out this workload end up feeling demotivated and often burned out. This leads to low job satisfaction and high turnover. To tackle this situation, Laiye designs its intelligent automation (IA) to take away the pain of manual processing with the help of AI. Laiye’s IDP technology delivers numerous benefits such as automating heavily time-consuming tasks and saving resources to protect tightening budgets and time-wasting workloads. In turn, these benefits translate into bolstering the well-being of workforces globally, and therefore the productivity of their companies.
As workforces continue to change, and businesses search for the tools to navigate uncertainty, Laiye is here to hold the hand of enterprises of all sizes. As the economic downturn continues, eliminating time-consuming tasks is crucial to uplifting workforce productivity, allowing employees to develop an array of skills and expand their capabilities.
Intelligence Qubic’s AutoML offering supplements Laiye’s IA software to improve the accuracy of AI models, further developing the business value transformation brought by the Intelligent Automation platform to customers.
Laiye welcomes Intelligence Qubic’s team, who reportedly have extensive experience in the industry and deep AI knowledge. They include:
- Qian Guangrui, the former CTO of Intelligence Qubic, takes on the role of innovative products and solutions at Laiye.
- Xu Ning, the former COO of Intelligence Qubic, will now serve as head of product solutions and delivery
- Shi Dongfeng and Song Yu, respectively the former VP of sales and director of platform products of Intelligence Qubic, will now act as technology consultants for Laiye.
This is the second in a string of acquisitions for Laiye, as it expands its global reach and technology leadership, following its acquisition of Mindsay in April, an European enterprise chatbot and voice bot platform. With Intelligence Qubic, Laiye continues its journey to deepen Natural Language Processing (NLP) technology and enhance IDP product capabilities, with the end goal of further enriching the integrated Intelligent Automation platform for its customers across the globe.
“The business needs of enterprises paired with the capabilities of AI highlight the commercial value of AutoML. This encourages our eager exploration, now with the excellent technology created by Laiye- enabling us to see the infinite possibilities of the future. We are very happy to join Laiye Technology at this time, integrate their strengths in solutions, product capabilities, and technical reserves, and jointly serve Intelligent Automation for customers in China and around the world,” says Qian Guangrui, the former CTO of Intelligent Qubic.
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