Quadratyx: Dedicated to Deep-tech AI Deploy- ments for over a Decade

Almost every software or services company is claiming AI, GenAI expertise. AI buzzwords are thrown around in every corporate conversation. Some applicants for positions like Data Scientist and ML Engineer are citing short online courses as their primary AI qualifications. Trivial ChatGPT pilot projects are being passed off, even in RFPs, as cutting-edge corporate GenAI deployments. On the other hand, worldwide spend on artificial intelligence (AI) will more than double by 2028 to reach $632 billion, growing at a CAGR of 29.0 percent . The financial services industry will have 20 percent of all AI spending, with banking leading the way. In such a market situation, how does one reliably identify a genuine, deep-tech AI, GenAI, Machine Learning, Big Data company? How does one clear the AI-vendor clutter, and pick reliable AI expert vendors?

Company of the Year - 2024

By 2024, companies underwent one year of immense change through innovation driven by technology, changed consumer preference, and high concern for sustainability. From companies that were struggling hard at the disruption of COVID-19, many actually ended up stronger through digital innovation and new ways of work. Perhaps the most stunning was the continued rise in AI and automation. Companies integrated AI into their operations, from customer service chatbots to AI-driven supply chain management. These technologies not only improved efficiency but also allowed businesses to deliver more personalized customer experiences, a key competitive edge in an increasingly crowded market.

"By 2024, companies underwent one year of immense change through innovation driven by technology, changed consumer preference, and high concern for sustainability"

The year also witnessed sustainability becoming a core business strategy for many organizations. Companies across sectors made more concrete commitments to reducing environmental impact, driven by the demand of consumers and increasing regulatory pressures. Renewable energy adoption increased, especially within industries such as automotive and manufacturing, where companies grew increasingly committed to carbonneutrality goals. Principles of circular economy gained prominence, where the businesses started to reduce the waste generation, recycling the materials, and designing products with sustainable life cycles. This transition was not merely an environmental foot- print improvement but also aligning with values of the increasing number of ethically conscious consumers.

Workplace dynamics were transformed in the process as well. Hybrid and remote work patterns became common among companies by 2024. Organizations did not hesitate to spend more on digital tools that promote teamwork while staying productive despite having people dispersed geographically. It also highlighted the need to improve the well-being of employees. Businesses focused on mental health initiatives and work life balance programs to ensure that their workforce was happy and healthy, because a happy, healthy team is the key to long-term success. DEI efforts also experienced significant progress as companies realized that diverse perspectives and inclusive cultures have business value.

Even though these developments took place, the economic environment remained unstable. Global supply chains were still being affected by the pandemic and geopolitical issues, and companies had to diversify suppliers and invest in more robust operational models. Concurrently, digital currencies and decentralized finance (DeFi) started to disrupt traditional financial systems, and companies began questioning their financial strategies and even explored adopting cryptocurrencies.

In summary, 2024 was an adaptation and strategic rethinking year. The companies that embraced digital transformation, sustainability, and a response to shifting consumer and employee needs came out well placed for the future. The year highlighted agility, innovation, and social responsibility as keys in navigating the rapidly changing global landscape.

CIO Insider magazine in this issue spotlights 'Company of the Year - 2024' featuring companies who have leveraged their extensive industry expertise and experience in bringing innovative solutions to business. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board.