10 AI News Making Waves Today

7. Elastic N.V. (NYSE:ESTC)

Market Capitalization: $8.85 billion

Elastic N.V. (NYSE:ESTC) is a search artificial intelligence (AI) company that enables everyone to securely harness search-powered AI to find the answers they need in real time using all their data, at scale. Its solutions are built on the Elastic Search AI Platform.

On November 14, Elastic N.V. (NYSE:ESTC) announced an AI ecosystem that will help enterprise developers build and develop advanced AI applications called RAG (Retrieval Augmented Generation) faster. Their Elastic AI Ecosystem will provide a comprehensive set of AI tools and technologies that work with their Elasticsearch vector database, empowering developers to use the “best-in-class” resources that accelerate the deployment of their RAG applications.

“Elasticsearch is the most widely downloaded vector database in the market, and customers and developers want to use it with the ecosystem’s best models, platforms, and frameworks to build compelling RAG applications. With our handpicked ecosystem of technology providers, we’re making it easier for developers to leverage Elastic’s vector database and choose the best combination of leading-edge technologies for their RAG applications. These integrations will help developers test, iterate, and deliver their RAG applications to production faster and improve the accuracy of their Gen AI applications.”

-Steve Kearns, general manager of Search at Elastic.