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Ment.io Award Write-Up

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Ment.io receives Frost & Sullivan's 2019 European AI-based Decision-making Solution Visionary Innovation Leadership Award.

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Ment.io Award Write-Up

  1. 1. FROST & SULLIVAN BEST PRACTICES AWARD Visionary Innovation Leadership 2019 AI-BASED DECISION-MAKING SOLUTION - EUROPE
  2. 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Focus on the Future and Best Practices Implementation on ment.io............................3 Conclusion...........................................................................................................5 Significance of Visionary Innovation Leadership .............................................................6 Understanding Visionary Innovation Leadership .............................................................6 Key Benchmarking Criteria ....................................................................................7 The Intersection between 360-Degree Research and Best Practices Awards.......................9 Research Methodology ..........................................................................................9 About Frost & Sullivan ................................................................................................9
  3. 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 3 “We Accelerate Growth” Background and Company Performance Industry Challenges The success of a business ultimately depends on the actions taken by management, “should we enter a new market, develop a new product line, or merge with a competitor?” All of these are judgments that have profound impact, hence ensuring the "right" decision is critical, which leads to several follow-up questions pertaining to who should be involved in the decision-making process—senior management or the software development team that will ultimately develop the new product. Perhaps, the business development and client success teams should lead the way because they are in close and continuous contact with the client. Additional questions include: whether more research would add value, how to proceed after the correct identification, and what is the most effective way to ensure everyone’s input is heard and taken into consideration. All-hands-on-desk meetings or online collaboration tools might appear to be attractive solutions; however, they often lack the structure that enables each participant to get their options noted—not everyone is comfortable with public speaking or messages might get lost in the flood of online meetings. Additional challenges include but are not limited to including outside material, written or verbal. Frost & Sullivan believes that businesses, from multinational corporations to innovative startups, will benefit from embracing technical solutions which empower them to make the right decision promptly, because at the end of the day their success will depend on it. By utilizing artificial intelligence (AI)—especially machine learning technologies as applied to advanced analytics—a solution provider can open up new ways to transcend the limitations of human analysis. AI provides the capabilities to deliver an unbiased accurate intelligence technology.1 Ment (www.ment.io) is based on the belief that Humans will never be out of the loop. The future belongs to 'Augmented Intelligence', i.e. the usage of AI to accelerate inclusive and transparent human conversations and decision making. It does not replace human expertise. Focus on the Future and Best Practices Implementation on Ment Utilizing decades of experience from the Israeli intelligence branches, Tel Aviv-based Ment.io helps businesses make better decisions, faster. To declutter and streamline the decision-making process, Ment.io has developed its cloud solution to transfer the discussion from email and cooperation tools to a single centralized platform where everyone has a voice, and all the information is available to participants. Ment is based on philosophical and mathematical principles from the field of Bayesian Epistemology, which deals with the theory of knowledge and the systematic mathematical approach on how to arrive at logical decisions. Hence, Ment is dedicated to understanding the mechanism of the decision-making process and implement “knowledge analytics” to support the decision making process with proprietary scoring mechanism. 1 Artificial Intelligence and Machine Learning: Transcending Data to Achieve Intelligence Technology (Frost & Sullivan. Nov. 2017).
  4. 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 4 “We Accelerate Growth” The Right Decision Made for the Right Reasons One of the central themes guiding the development of Ment was to find software, especially machine learning and AI, with the concept of fighting the "post-truth" era. Ment.io believes that "post-truth", which the company outlines as the process in which collaboration is based on “freedom of speech”, should be replaced by a process based on accountability and meritocracy. The omnipresence of the Internet and the multitude of communication tools it has, enabled the entrance of a "post-truth" mindset in the corporate world. In this era of cacophony, for the decision-maker, more opinions are not always a good thing, because without the ability to determine which beliefs to listen to and why, the value of said opinions gets lost in the chaos. Hence the development of Ment, which works in the following way: when a new decision needs to be taken, or if a participant is interested in the expertise of other users, a user invites new members (internal or external) to a new forum to provide their insight. The question that starts the process can address a specific business issue or a general problem that has sparked the interest of the user who posted the question. A notification alerts the members of the forum that their input is requested. Once the answers start pouring in, Ment structures all the relevant voices and data, and scores their believability by leveraging machine learning and AI, so that all the members of the forum have an accessible overview of the results collected. Furthermore, Ment advances a structured discussion and highlights areas of controversy and consensus, thereby providing the asker with a refined summary of the most credible opinions, allowing for a better yet faster decision. By combining Bayesian epistemology techniques and crowd-mining elements, the solution generates results to rate each participant according to their contribution, resulting in a dynamic level of confidence allocated to each of the hypotheses on each topic, based on a smart peer-review combined with data analytics. Thus the result will consist of the answers or explanations assigned with the highest level of confidence. A New Path to Success Ment offers seamless integration with the collaboration tools already used by most businesses and organizations today, such as Slack — an investor in Ment.io. By combining the user-friendliness of Slack and the machine learning and AI power of Ment the discussion transforms from merely being another stream of platitudes such as "in my experience, this approach will not be successful” or “just to reiterate” to a discussion encouraging and enabling the user to add new information to support an argument and to vote on other participant’s answers. The act of voting offers Ment an analyzable dataset to track the opinions of participants, and thus removes the need to rely on free-text analysis which even today, despite substantial progress in natural language processing, is unable to extract and score opinions expressed by the participants of a forum.
  5. 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 5 “We Accelerate Growth” The reasoning dataset can also be used to track and analyze group think within the organization. For instance, do users who belong to the same team or sit in the same room tend to vote the same way, if so, what does this mean for the undertaken decision. By timestamping the voting, Ment tracks the decision-making process over time and the answers or votes that resulted in a significant shift of the opinions expressed can be mapped to understand the internal dynamic of a business or organization better. The end goal of the analysis is to establish a process driven by meritocracy and not a democracy; therefore, to understand why individual team members reason in a certain way is crucial to enable future success. Conclusion Ment.io solution enables an organization to make decisions in an entirely new way, without the “loudest is most correct” default, giving the decision-maker a clear overview of who supports which decisions and what arguments and data they bring to back their claims. Ment harnesses the insights of an organization without the need for an all-hands- on-deck meeting to get everyone's ideas—enabling companies to think and act fast while harnessing the benefits of thinking slow and moving fast. With its innovative new decision-making engine, Ment earns Frost & Sullivan’s 2019 Europe Visionary Innovation Leadership Award in the AI-based decision-making solution market.
  6. 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 6 “We Accelerate Growth” Significance of Visionary Innovation Leadership A Visionary Innovation Leadership position enables a market participant to deliver highly competitive products and solutions that transform the way individuals and businesses perform their daily activities. Such products and solutions set new, long-lasting trends in how technologies are deployed and consumed by businesses and end users. Most important, they deliver unique and differentiated benefits that can greatly improve business performance as well as individuals’ work and personal lives. These improvements are measured by customer demand, brand strength, and competitive positioning. Understanding Visionary Innovation Leadership Visionary Innovation is the ability to innovate today in the light of perceived changes and opportunities that will arise from Mega Trends in the future. It is the ability to scout and detect unmet (and as yet undefined) needs and proactively address them with disruptive solutions that cater to new and unique customers, lifestyles, technologies, and markets. At the heart of visionary innovation is a deep understanding of the implications and global
  7. 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 7 “We Accelerate Growth” ramifications of Mega Trends, leading to correct identification and ultimate capture of niche and white-space market opportunities in the future. Key Benchmarking Criteria For the Visionary Innovation Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Focus on the Future and Best Practices Implementation— according to the criteria identified below. Focus on the Future Criterion 1: Focus on Unmet Needs Criterion 2: Visionary Scenarios through Mega Trends Criterion 3: Growth Pipeline Criterion 4: Blue Ocean Strategy Criterion 5: Growth Performance Best Practices Implementation Criterion 1: Vision Alignment Criterion 2: Process Design Criterion 3: Operational Efficiency Criterion 4: Technological Sophistication Criterion 5: Company Culture
  8. 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 8 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan Awards follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe • Conduct in-depth industry research • Identify emerging sectors • Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline • Interview thought leaders and industry practitioners • Assess candidates’ fit with best-practice criteria • Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates • Confirm best-practice criteria • Examine eligibility of all candidates • Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles • Brainstorm ranking options • Invite multiple perspectives on candidates’ performance • Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders • Share findings • Strengthen cases for candidate eligibility • Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility • Hold global team meeting to review all candidates • Pressure-test fit with criteria • Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials • Perform final performance benchmarking activities • Write nominations • Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient • Review analysis with panel • Build consensus • Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition • Present Award to the CEO • Inspire the organization for continued success • Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers • Coordinate media outreach • Design a marketing plan • Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
  9. 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 9 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry players and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

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