Technology is constantly moving forward. It is proving that it is like a boon for mankind. Technology can simplify any task, and also help to solve a complex problem humanly.
Artificial intelligence began in the 1950s, but its importance was recognized in the 1970s. Since then constant efforts are being made in the advancement of artificial intelligence. Many machines with artificial intelligence are available to date, which makes our work easier. People get a lot of help due to the development of all the tools equipped with artificial intelligence which results in a boosted productivity. Overall, it can be said that artificial intelligence is beneficial for businesses in all sectors, if it is used appropriately. The businesses are in continuous search of an AI solution provider that takes their business to another level. And so, here is the end for this massive search…
SeaportAI is a leading artificial intelligence company that is accelerating the technological revolution around the globe.
In a talk with Mr. Govind Kumar, Founder, and CEO at SeaportAI, we discussed the current industry scenario and how SeaportAI is transforming its client’s businesses with top-notch offerings.
- Brief us about the company.
SeaportAI is a cutting edge AI company focusing on analytics and automation. Our offerings cover predictive and prescriptive solutions in the areas of customer experience, fraud risk, and industrial analytics. Our customers come from varied industries like retail, manufacturing, insurance, and tech sectors.
I’m convinced that about half of what separates successful entrepreneurs from the not so successful ones is pure perseverance.Steve Jobs
- What were the initial challenges you faced?
Like every business, we also faced many challenges during inception. But those challenges helped us to be ready to overcome any challenge in the future. Hiring the right resources and getting the first client were the key initial challenges.
- Which was that point that triggered the growth of the company?
When we shifted the focus from technology to the customer! We realized that tech is just an enabler and that enabler must fit into the customer’s ecosystem. Many times, the customer is not ready for an AI solution and it’s important to recognize that very early in the engagement. This realization helped us to sharpen focus and use our resources smartly. We now live by this motto: “Don’t find customers for your products. Find products for your customers”
- What is the reason behind your company’s long-standing success?
Customer focus. As Steve Jobs famously said, “Get Closer than ever to your customers. So close, that you tell them what they need well before they realize it themselves.”
- What are the products/services the company focuses on? How are your services different from those in the market?
Though our offerings cover a broad spectrum, we have now come to focus on fraud risk analytics. This is a niche offering and since we have deep domain knowledge in that space, we are uniquely positioned to take leadership in this space. We offer a consulting framework where we study the opportunities and provide an AI-based solution.
- How do you decide to take the company a step further in terms of your products/services?
We are now executing on our plans to expand on the fraud risk opportunity and a key focus area is to offer this as a service in future.
Perseverance is important, especially in today’s times.
- Is there any new addition to the list of products/services? Anything exciting you would like to share?
Normally when we think of analytics, people tend to think of analyzing data. But images, videos, and audio can also be analyzed equally effectively using deep learning technology. This emerging area is opening up a plethora of opportunities for organizations in revenue generation, customer experience, and process optimization.
- Can you please brief us about your professional experience?
I am an innovator, technocrat, and author with over 2 decades of experience. I have worked in MNCs and start-ups prior to starting this venture. I have been fortunate to work with amazing individuals across the world who have helped me to grow. I have led product development efforts for emerging market requirements and conceptualized & started centers for excellence in fraud analytics. I have managed multinational and multi-cultural teams & customers
- What are the key achievements of your entrepreneurial journey?
Identifying new business opportunities and managing the downturn due to Covid-19
- How do you look after your employees?
I believe in outcome-based management. In this, mutual respect and trust are important. I am a big believer in empowering employees. Empowered employees are not only happy but also proactive in their work.
- One person who you admire the most?
I admire Bill Gates a lot. He has added immense value to individuals, clients & society at large and now he is into philanthropy. And he has worked long & hard to achieve this.
- Whose business story do you find the most inspiring?
I find the business story of Bill Gates most inspiring because he has transitioned from the business world to philanthropy seamlessly.
- Constant vigilance- a need or a strategy?
In my opinion, this is more of a need than a strategy.
- According to you, how has AI become part of our day to day life?
AI is now part of everyday life in more ways than one from Google assistant/Siri/Alexa to face recognition apps. Recommendation systems are already suggesting what news or song we like based on our search and view history. AI is going to be pervasive in the coming days.
- Where do you think the AI industry is headed
I think AI is at an inflection point as far as adoption is concerned. In the last few years, there was lot of hype around AI and many of those misconceptions have now been addressed to a large extent. I see very good adoption of chatbot and robotic process automation among companies. Machine learning & deep learning solutions are moving out of proof of concept stage to full scale deployments.
- As an expert in AI, what will be your advice for a young professional wanting to build a career in AI
Focus on fundamentals! Though AI involves programming, at its core, its more about math & statistics. So one should master the basics and especially the application of math & statistics. Also, its important to learn problem solving. Last but not the least, I see many AI professionals not having a good understanding of databases. That’s also an important focus area.