Pecan AI, the leader in AI-based predictive analytics for data analysts and business teams, announced Predictive GenAI, a unique combination of predictive analytics and generative AI that kickstarts fast, easy predictive modeling. Predictive GenAI marks a new step in the evolution of enterprise AI adoption, where generative AI and predictive AI work together to unlock the value of businesses’ data.

Amidst the growing hype of GenAI in the enterprise, actual adoption is still lagging. Many businesses have yet to unlock a true use case that will drive better customer, employee, and product innovation outcomes. Today, Pecan’s Predictive GenAI creates a significant opportunity for scalable AI-powered business value. Pecan’s Predictive GenAI empowers users to translate business concerns into a new predictive model that can solve the issue faster than ever.

“When used alone, ChatGPT and other similar tools based on large language models can’t solve predictive business needs,” said Zohar Bronfman, CEO and co-founder, Pecan AI. “Our mission has always been to democratize data science, and today, we’ve identified a simple way to marry the power of predictive analytics and GenAI. Pecan’s Predictive GenAI is an industry-first solution that rapidly advances AI adoption, solves real business challenges, and improves outcomes.”

Also Read: Varonis Named a Leader in GigaOm’s 2023 Radar Report for Data Security Platforms.

Predictive Chat and Predictive Notebook

Pecan’s Predictive GenAI combines the strengths of large language models with traditional machine learning techniques to make predictive modeling more accessible for business users. With two new power features, Predictive Chat and Predictive Notebook, users can tackle a wide range of predictive modeling questions.

The new Predictive Chat lets users simply say what business challenge they want to solve and collaboratively defines the predictive model to build. Then, Pecan generates a SQL-based Predictive Notebook with all necessary queries and even sample data for creating the business-relevant predictions. The user can then refine the modeling approach before handing the reins to the platform’s automated data prep and model-building capabilities.

At the end of the process, Pecan generates accurate predictions that can help the user take action on their business challenge and improve outcomes. Whatever their specific industry or organizational department, the Predictive Chat can translate users’ business needs into accurate predictive models that provide granular, actionable predictions. For example, they can predict customers’ risk of churning, or the chance a critical piece of manufacturing machinery will malfunction.

“It’s not always easy for businesses to solve challenges with predictive modeling – until now,” said Limor Segev, Senior Vice President of Product, Pecan AI. “We have eliminated the need to learn complex code, invest in expensive hires, or enlist the help of a third party. Predictive GenAI unlocks transformative business capabilities through an entirely new path to building data science models.”

The Predictive GenAI features draw on Pecan’s extensive experience and success with predictive modeling, including teams at Johnson & Johnson, CAA, Ideal Image, and SciPlay.

SOURCE: BusinessWire