11 AI News You Should Not Miss

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

Number of Hedge Fund Holders: 47

Elastic N.V. (NYSE:ESTC) is an AI-focused search company offering cloud-based solutions, including data search, analysis, and visualization tools. Its products integrate AI with search engines, log analysis, application monitoring, and security to help businesses manage structured and unstructured data across hybrid and multi-cloud environments.

Elastic (NYSE:ESTC) introduced Elastic Rerank on December 10, a cross-encoder reranking model powered by AI, improving text search with semantic capabilities without requiring reindexing. The model integrates into the Elasticsearch Open Inference API, enabling developers to boost keyword search accuracy by adjusting query parameters. Built on the DeBERTa v3 architecture, Elastic Rerank delivers high performance and efficiency, achieving up to 90% improvement in question-answering tasks and a 40% uplift across various retrieval tasks.

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