Foundry for AI by Rackspace (FAIR) Marks First Anniversary with Human-Centered AI Solutions Deployed Across 40+ Companies

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) celebrates the first anniversary of its Foundry for AI by Rackspace (FAIR) initiative. In its inaugural year, FAIR has successfully implemented AI solutions in over 40 companies across various sectors, including finance, real estate, education, and government. The program has secured multiple certifications on Microsoft Azure, AWS, and Google Cloud.

Key milestones include the FAIR Learn program, which saw over 95% of employees achieve AI-ready certification, and the launch of AI tools like Rackspace ICE and RITA to enhance productivity and compliance. FAIR has also developed an AI-optimized private cloud platform powered by NVIDIA. Notable client deployments include solutions for GLP Capital Partners and Straits Interactive.

Rackspace aims to continue driving AI innovation, focusing on responsible AI practices and expanding partnerships with leading cloud providers.

Positive

• Successful AI implementations in over 40 companies.
• Secured certifications on Microsoft Azure, AWS, and Google Cloud.
• FAIR Learn program certified 95% of employees as AI-ready.
• Launch of AI tools: Rackspace ICE and RITA.
• Development of AI-optimized private cloud platform powered by NVIDIA.
• Notable client deployments for GLP Capital Partners and Straits Interactive.
• Strong partnerships with AWS, Microsoft Azure, and Google Cloud.

Negative

• No specific financial data reported indicating direct revenue growth from FAIR.
• Potential high costs associated with gaining multiple certifications and developing new AI tools.
• information on the scalability and long-term financial impact of the AI solutions deployed.

FAIR celebrates the groundbreaking achievements, innovation in Responsible AI, and exclusive partnerships with AWS, Microsoft Azure, and Google Cloud

SAN ANTONIO, June 18, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology^® (NASDAQ: RXT), a leading hybrid, multicloud, and AI technology services company, today celebrates the first anniversary of the launch of Foundry for AI by Rackspace (FAIR™), marking a year of groundbreaking achievements and innovation in implementing Responsible AI solutions. FAIR has completed over 40 successful global AI implementations across several industries in its first year, including financial services, real estate, education, and government services. In addition, FAIR achieved a high level of technical excellence by securing several AI, Generative AI Applications, Data, and Infrastructure certifications on Microsoft Azure, Amazon Web Services (AWS), and Google Cloud.

"Rackspace is catching the next wave of market growth with AI. Over the past year, we have transformed into an AI-ready organization. AI is rapidly becoming a critical workload, and our unparalleled experience in both private and multicloud environments uniquely position us to help customers on their AI journey," said Amar Maletira, Chief Executive Officer of Rackspace Technology. "We are proud of our achievements through FAIR in our first year, especially the strong reception from customers across various industries seeking a partner with the expertise to develop and deploy responsible AI in their organizations."

FAIR has achieved several key milestones over the last year, including: 

• FAIR Learn: An innovative AI literacy program designed to heighten Rackspace employees' comprehension of the basic principles of AI, its potential use cases, and its limitations to harness AI's power creatively, responsibly, and sustainably. Over 95% of Rackers have achieved the AI-Ready Certification provided by this program.
• FAIR AI Diagnostic: A free AI diagnostic tool that allows organizations to baseline their AI readiness and receive tailored recommendations on the next steps in minutes.
• Rackspace ICE (Intelligent Co-worker for the Enterprise): is a Responsible AI co-worker who is a subject matter expert on corporate policies, procedures, and standards. Augmented by a large language model, ICE provides employees with accurate, context-aware information, enhancing decision-making, compliance, and productivity within specified domains. ICE is rolled out to 150+ Rackers across the globe. 
• RITA (Rackspace Intelligent Technology Agent): is an AI agent designed to boost user productivity by helping with daily tasks. RITA can help answer questions and perform actions related to various IT services, such as setting up RSA tokens, managing timesheets, and checking ticket statuses. Ask her a question and let her help you streamline your workday. RITA is rolled out to 600+ users and will be available to all Rackers by the end of the year. 
• Rackspace Private Cloud AI: is an AI-optimized platform for fine-tuning and inferencing AI workloads. Private Cloud AI, powered by NVIDIA, helps harness the power of AI in a private, secure environment, leveraging a full AI software stack and the latest AI-optimized hardware.
  

"At Rackspace, we're not just excited about being at the vanguard of the AI revolution; we're driven by a deep sense of purpose to empower organizations to unlock the full potential of AI and reshape the future of their industries," said Srini Koushik, President of AI, Technology, and Sustainability Rackspace Technology. "Our relentless focus on customer success, combined with our cutting-edge technological expertise, has positioned us as a trusted partner for businesses across sectors, helping them ideate, incubate, and industrialize their AI initiatives to achieve transformative business outcomes. As we build upon the knowledge, accelerators, and assets we've developed over the past year, we're poised to continue pushing the boundaries of AI innovation, delivering groundbreaking solutions that redefine the landscape of AI-driven business transformation for years to come." 

Notable FAIR Client AI Deployments 

• GLP Capital Partners: An interactive conversational AI solution that helps fund managers answer business questions based on information from an Enterprise Data Lake (EDL), allowing them to analyze and develop various performance metrics and expected outcomes quickly. 
• Straits Interactive: An AI Data Protection Officer Co-Pilot that established guardrails for conversations with users, providing optimal, high-quality responses designed to guide organizations in global data governance and compliance.

"As we embark on the next chapter of AI adoption, FAIR is poised to lead the charge in helping organizations seamlessly integrate AI as a trusted employee and co-worker," added Koushik. "Our focus on establishing robust AI governance and operating models will empower businesses to achieve unprecedented agility while mitigating risks and ensuring the sustainability of their AI solutions. With an unwavering commitment to innovation, we will continue to accelerate and expand our AI portfolio, strengthen hyperscaler partnerships, drive the adoption of FAIR Private AI, and champion responsible AI practices. The future is bright, and FAIR is dedicated to shaping a more sustainable and transformative AI-powered world." 

To learn more about the Foundry for AI by Rackspace, visit FAIR's website for customer testimonials, services, and more. 

About Foundry for AI by Rackspace (FAIR)
FAIR is a groundbreaking global practice dedicated to advancing business transformation, improving customer experience, increasing the quality of service, and accelerating value creation through the secure and responsible use of AI technologies. FAIR has identified over 500 use cases across multiple industries and is working on several industry-leading implementations for our customers across the globe.

About Rackspace Technology
Rackspace Technology is a leading end-to-end hybrid, multicloud, and AI technology services company. We design, build, and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.

Media Contact: Natalie Silva, publicrelations@rackspace.com

FAQ

What is the Foundry for AI by Rackspace (FAIR)?

FAIR is an initiative by Rackspace Technology focused on implementing responsible AI solutions across various industries.

How many companies has FAIR implemented AI solutions for?

FAIR has successfully implemented AI solutions in over 40 companies.

When did Rackspace Technology launch FAIR?

Rackspace Technology launched FAIR in June 2023.

What certifications has FAIR secured?

FAIR has secured AI, Generative AI Applications, Data, and Infrastructure certifications on Microsoft Azure, AWS, and Google Cloud.

What are some tools developed by FAIR?

FAIR developed tools such as Rackspace ICE and RITA to enhance employee productivity and compliance.

What is Rackspace Private Cloud AI?

Rackspace Private Cloud AI is an AI-optimized platform powered by NVIDIA, designed for fine-tuning and inferencing AI workloads in a private, secure environment.

Who are some notable clients of FAIR?

Notable clients of FAIR include GLP Capital Partners and Straits Interactive.

What is the focus of Rackspace Technology's AI initiatives?

Rackspace Technology focuses on responsible AI practices, customer success, and expanding partnerships with cloud providers to drive AI innovation.