AI Index / Elastic N.V.
Elastic N.V. (ESTC)
Elastic incorporates AI in its search and security analytics platforms, particularly through generative AI applications within Elastic Cloud. The company’s Elasticsearch AI platform and proprietary machine-learning models contribute to semantic search advancements. Over 1,300 customers utilize Elastic’s AI-driven cloud solutions.
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Generative AI is enabling organizations to extract value from unstructured data, documents and logs. Search is core to value extraction, and we saw outperformance from search in Q3 with our search business once again accelerating year-over-year.
- Ashutosh Kulkarni
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Quotes from elastic Executives About Artificial Intelligence and Generative AI
Customers are choosing the Elastic search AI platform as an essential layer on which to build all of these flavors of new search-powered applications and we expect this momentum will continue to form a tailwind for our business for many years to come.
- Ashutosh Kulkarni
Our vector database resonates with customers. In addition to our best-in-class vector database, we are taking a distinct approach, offering customers an efficient way to create, store and search vector embeddings beyond those provided by point solution vector databases.
- Ashutosh Kulkarni
...we signed five deals of greater than $1 million in annual contract value where customers are building Gen AI applications using Elastic...
- Ashutosh Kulkarni
...over 1,750 Elastic Cloud customers are using us for Gen AI use cases with over 270 of these customers spending $100,000 or more with us annually.
- Ashutosh Kulkarni
...our attack discovery solution, leveraging large language models to automate threat discovery. I'm pleased to report that we are seeing strong interest from customers looking to enhance their SOC operations...
- Ashutosh Kulkarni
Elastic has the power to bring all these pieces together to be the runtime platform for Gen AI applications that simplifies developer experiences and drives greater efficiency and accuracy.
- Ashutosh Kulkarni
Our Rerank model boosts search results with more relevance. For RAC (retrieval-augmented generation), providing precise context from the user's data...
- Ashutosh Kulkarni