How the pandemic has led more organisations to leverage data sciences
India has witnessed a sudden acceleration towards technology-led innovations in the past year. Gaurav Shinh, CEO & Founder of tech startup DASS Labs (Data Science and Analytics Services Labs) shares how many sectors have been investing heavily in big data, data science, artificial intelligence, and machine learning
How has the Covid-19 situation led more organisations to leverage data sciences?
India has witnessed a sudden acceleration towards technology-led innovations in the past year. Recently, many tech companies have been investing heavily in big data, data science, artificial intelligence, and machine learning. Different industries have all now become part of the tech industry such as the financial and insurance sector have also adapted the use of AI and ML. Because of the pandemic, there has been an increase in the level of health awareness among people making Insurtech firms extremely popular. Insurtech companies are also helping those who are stuck abroad by making their services available overseas. Another sector that gained popularity amidst the pandemic is the healthtech sector. Devices such as smartwatches, and smartphones have become even smarter and an integral part of our everyday life. These devices can monitor one’s health in real-time. Last year, a man’s life was saved by his apple watch because it detected an irregularity in his heartbeat and raised an alert.
London-based DeepMind Technologies breakthrough in giving a 3-D shape to a protein using AI-based imagery. A problem that has been bothering scientists for decades was solved using new-age technology.
Though one of the biggest impacts of this can be seen with respect to education. Google classrooms have been there for a while and they have been promoting it as well, but it was only during the pandemic that it got integrated into almost every school in India. Another big shift was technologies that enabled work from home. With virtual conference rooms, data security, AI, cloud computing, every industry found a way to work through the pandemic. Especially the Real estate firms, introduced AR and VR based tours making it easier for the customers to view properties at home. All these advancements and adaptations simply lead to a conclusion that Covid-19 gave technical innovations a push that otherwise would have been moving at their own pace or even delayed.
Who are your target customer segments and the benefits to their businesses through your solutions?
We have been providing data solutions to various industries for over five years now. Our team of data experts and analytics always focus on offering the finest work to the clients, so that they can harness the benefits of new technology and gain a competitive edge in the market.
We partner to study the inherent needs of the organisation and bring in the best long-term solutions for their requirements. After carrying out a thorough assessment of the firm and its requirements the professionals create a business case preparation; define data/information architecture, build implementation, and support services. Furthermore, we embed data-driven decision making into the organizational culture of our clients; set up a performance management framework to measure and track the benefits realization plan.
Until now DAAS Labs has worked across a myriad of industries and segments, such as finance, healthcare, education, BFSI, logistics and e-commerce with many others on their way. We take pride in ourselves for being one of the best and most efficient data analytics firm in the country.
How are your products helping companies make smarter business decisions with their data?
We work to ensure that our clients get the best out of their data. This is why we worked on a new product “SciKiq”, which increases data efficiency.
Scikiq is a business data platform that extracts data complexity from businesses and simplifies it to help transform performance and offers solutions through Actionable Intelligence resulting in business growth with value. Unlike current competition which provides either point solutions or complex platforms that become organisational nightmares, Scikiq is a Unified, Full-Service business data platform that empowers businesses to grow faster with simplified, smarter decision making. Fulfilling all data needs enterprise under one roof, enhances efficiency and ease for users through a reduction in the DATA-TO-ACTION timeframe from years and months to days.
SciKiq helps capture data through prebuilt data connectors, perform exploratory analysis, data profiling, and modeling, generate insights through data storytelling using NLP and NLG, and gives predictive analysis using advanced AI and ML engines.
Thus, SciKiq is a data transformative platform that helps organisations revolutionise the way they are using their data in order to make smarter business decisions and achieve better results. It is a one-stop-shop for all data needs across the enterprise.
Which industry segments do you foresee NLP playing a critical role in the near future?
NLP is a very niche part of Artificial Intelligence. Innovators still exploring its full strength. We have already seen most customer-oriented internet sites and applications using chatbots to improve their Customer Service. Work is being done to improve the efficiency of these Chatbots so that they can work more intuitively and more human-like.
Another big sector that is and will benefit largely from NLP is the healthcare sector. In a populous country like where there is always a lot of data, add to that the pandemic, the surge in clinical data has been enormous. NLP will help increase efficiency in streamlining documentation and make computer-assisted coding easier. It will also help support value-based care and improve improving patient and healthcare provider interactions. Furthermore, it will empower the patients with health literacy and will help grow the need for higher quality healthcare.
Your focus on innovation.
Our key focus of innovation is to converge Computer Vision, Data Analytics, NLP, and Robotics Process Automation technologies to simplify, transform and create data solutions that are boundary-less, innovative, and at the same time meets our end client’s future needs. By putting the right mix of product and services offering, our innovation agenda is constantly enabling our client to focus on business case benefits and outcomes rather than worrying about “how the data can be stitched together across organisational silos”.
Specific example: Our team is working on integrating chatbots with RPA bots which can capture speech, text, and images or videos to build a resilient, contactless, and fully automated supply chain for our manufacturing clients.
Our plan for the future is to strengthen our services offering so as to generate immediate value to our end clients and create a product portfolio around Data, AI, and ML which can create a sustainable competitive advantage for our end customer. The plan for the near-term future is to invest more in capability build-out around NLP, Computer Vision, Data & Analytics, and RPA.
Any key milestones / achievements since inception?
We have already built a strong brand under Daaslabs which is on a mission to simplify, transform and create innovative data platforms where all the complexities related to data ingestion, management, and transformation are abstracted from businesses so that our clients can focus on driving value from data to enable business growth.
The successful rollout of our Holistic Data Platform (Scikiq), which is a Full-Service Business Data Platform that abstracts all the data complexity from the business users via a No Code, Drag and Drops UI so that the business can focus on driving value from data, rather than worrying about how data is generated or curated. This has enabled businesses to grow, make faster, smarter and confident decisions.
Any other significant factor, you wish to highlight regarding data and AI?
Today, the world is changing and is changing very fast, behavioral segments are getting defined and redefined on a daily basis, consumption patterns are changing and industry landscapes are shifting, and at the same time our relationship and our interaction with the things are being renewed constantly – under such circumstances can we even imagine a world where adoption of data and AI is a choice? Data brings transparency across business processes whereas AI models provide early signs and help businesses stay relevant in the changing world.
The new opportunities and the frontiers which data and AI have created in the present times were beyond imagination a decade ago. It has challenged the existing business models and led to the folding up of the businesses which were complacent and failed to align themselves to the newer world of opportunities created by data and analytics.
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