**Mountain View, California**: Accenture Ventures has invested in Voltron Data, which has developed a SQL query engine called Theseus. This technology improves data processing, enabling faster analytics for AI applications, especially in financial services, and optimises decision-making across industries.
Accenture has announced a strategic investment in Voltron Data, a technology firm focused on developing software aimed at enhancing computing capabilities for modern artificial intelligence (AI) applications. This investment, part of Accenture Ventures, seeks to bolster Voltron Data’s initiatives in using advanced computing technology to accelerate analytics processes that are critical for resources such as generative AI and machine learning.
Voltron Data, established in 2021 and based in Mountain View, California, has developed a SQL query engine named Theseus. This technology enables businesses to process extensive datasets, up to petabyte scale, more efficiently and cost-effectively compared to conventional CPU-based systems. The firm’s innovative approach addresses a common issue faced by many enterprises: the challenge of quickly drawing insights from large data reserves. Theseus leverages accelerated computing hardware, notably graphics processing units (GPUs), which significantly reduces the time required for complex data queries from hours to mere minutes.
In particular, financial services institutions could benefit substantially from Theseus, as they generate vast quantities of data daily, which are often slow to process using traditional methods. With Theseus, these organisations could bypass lengthy data ingestion phases, thereby optimising their workflow and enhancing decision-making capabilities.
David Wood, Accenture’s Technology Consulting lead, emphasized the growing necessity for companies across various sectors to harness large datasets for complex problem-solving. He noted the partnership with Voltron Data allows organisations to better exploit their data potential, saying, “Combining Accenture’s expertise in accelerated and high-performance computing with Voltron Data’s large-scale data processing platform, companies can better realize the full potential of their data assets and unlock new kinds of business value.”
Michael Abbott, head of Accenture’s Banking & Capital Markets industry group, explained that banks currently possess vast amounts of underutilised data that could drive innovative AI products and services. He illustrated the capability of Voltron Data’s platform by stating, “It’s like transforming a one lane road into a multi-lane highway,” highlighting the increased efficiency and opportunity that the software brings to data management.
Craig Dunham, CEO of Voltron Data, expressed optimism about the collaboration with Accenture and its potential for expanding their market reach, asserting that it would empower clients to take full advantage of the burgeoning opportunities within the AI sector.
Voltron Data is the latest entrant to join Accenture Ventures’ Project Spotlight, which focuses on accelerating the growth of AI and data-centric startups by providing access to Accenture’s industry knowledge and client network. The financial details surrounding this investment have not been disclosed.
Source: Noah Wire Services
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