“Compared to the US and Japan, Indian companies are increasingly adopting AI. This is primarily due to awareness of AI technology and the resources required within their organizations,” Foundability Sciences Founder said Anand Mahulkar, CEO and CEO. The company recently launched Business Process Copilot (BPC), which leverages AI tools to enhance business processes.
AI is dominating conversations around the world. While we have seen a variety of productivity-enhancing features ranging from research to image editing, the discussion around AI applications and their business impact is largely confined to corporate groups. Businesses also appear to be undergoing transformation through AI. Findability Sciences is a company that streamlines AI in business processes to unlock new levels of efficiency for growth.
Indianexpress.com spoke to Mahurkar who is leading the change in the AI revolution. During the conversation, the CEO discussed the company's cutting-edge solutions such as BPC and Enterprise Forecasting and how they are redefining the business environment.
What is Business Process Co-Pilot?
Mahurkar explained that BPC solutions are changing the way companies approach their daily operations. He said BPC leverages natural language processing, optical character recognition (OCR) and large-scale language models like IBM Watson to automate and optimize content-centric business processes. “It's not an autopilot, it's a co-pilot. Most content-centric business processes involve a huge amount of documentation, which can be overwhelming, so you need a co-pilot.” he said.
BPC automates the collection, assembly, and understanding of information, reducing the burden on human resources and allowing them to focus on more important tasks. Emphasizing the effectiveness of this solution, Mahurkar said: “The process took him three years, but now he has shortened it to one year. Therefore, the product launch will happen much faster than expected, which will increase revenue.”
Harness predictive power
The company's AI-powered solution, Enterprise Forecasting, uses supervised machine learning and proprietary algorithms to provide predictive insights to businesses. “Our technology is a self-learning technology, which means it learns from past data.” The main strength of this technology is that it builds multiple self-learning models, taking into account a large number of variables, increasing accuracy and delivering results. It's about being predictable.
“We have unique self-learning monotype modeling that allows companies to capture as many variables as possible and build as many models as possible fully automatically without human intervention,” Mahulkar added. Ta.
According to the CEO, by harnessing the power of Enterprise Forecasting, organizations can gain valuable insights into future trends and integrate data across various business areas, including supply chain management, sales planning, pricing, human resources, and customers. be able to make decisions based on management. Mahulkar emphasized that “this system will give us answers to the questions 'what happens' and 'what to do'.” Therefore, these enterprise predictive machine learning modules learn from a wide range of data and tell organizations what will happen and what to do. ”
AI in India
While AI is making strides globally, it is also making waves across India. Mahulkar believes Indian companies are at the forefront of his AI adoption. “Indian companies have the resources and the ecosystem here is more aware of AI technology than in many other countries,” he said. Mahulkar's company is capitalizing on this trend by setting up a development center in Maharashtra to make the most of India's technological talent.
As businesses increasingly rely on AI solutions, data security and governance have become top concerns. When asked about his company's approach to this, Mahurkar said that Findability Sciences understands this important aspect and has implemented a robust framework to ensure data privacy and integrity. said. “We have a very robust governance framework for each operation in terms of what data is included in the training,” Mahulkar asserted.
In addition, the company also provides isolated implementations for each customer, ensuring data safety and confidentiality. “Our solution is not a multi-tenant SaaS platform. Our solution is a separate implementation for our customers,” he said.
In response to a question, concerns over the introduction of AI lead to concerns about job losses. Mahulkar said he advocates an “ECM strategy,” which stands for education, communication and motivation. “We need to educate and communicate that AI is not here to take away jobs. We need generative AI, so we need to communicate and encourage everyone to use AI. Motivating them to do so is the need of the hour to improve productivity.”
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Date first uploaded: March 24, 2024 15:07 IST