BIG LEAP OF COGNITENSOR
It is a Noida based artificial intelligence (AI) start-up, founded by Ashish Arion who is Oxford graduate in computer science.
CogniTensor was started in 2018 when Ashish joined hands with industry veterans Pankaj Mathur and Arun Aggarwal.
About the product
The customers are generally large retailers, manufacturers and energy companies involved in large scale of raw material handling. The aim of the product is to provide them insights to make the right decisions at the right time, to make the effective use of their inventory and stocks.
- Deep Optics is a service that provides the organizations a platform to take predictive decisions and evaluate the business solutions with the help of big data and machine learning for better business outcomes.
- CogniViz is a mobile application that allows users to transform data insights in a data dashboard that helps in keeping track of business activity from anywhere.
The business has taken a big leap to help energies and aluminium companies manage their inventory and procure their raw materials with the help of Artificial Intelligence and it is not only about giving the product but also coming up with results that customers want. All to be achieved with data science.
Now is the time of AI and data science, having the relevant data is not sufficient, it is the effective utilization of the data that businesses are now looking at. How one can make crucial business decisions depends up on the insights of the driven data.
Before getting into this business, Arion started operations in the UK and Middle East but elbow room in India was different from all other countries. In one of the reports of NITI Aayog it said that research in India is limited in both quantity and quality.
NASSCOM estimated that by 2022, half of the jobs that are prevalent today will become obsolete and India will face the demand and supply gap of 200K data analytics professionals.
Here, CogniTensor sees the opportunity, as it collects the data from various sources then processes it to get insights of the data, that help companies to save their cost and turnaround time.
Arion believed that the strength of their companies lies in the research and the external data which they possess. The system works in three segments;
- First, the product handles the procurement of the data from various sources.
- Second, is the CPU of the system i.e. the system which generates the insights of the procured data with help of scientific tools.
- Third, is the place where all the solutions are displayed to the users on the dashboard of their application.
The CogniTensor aims to spread the market share in the Middle East where the large companies used to avail their services for 15 days to one month in advance. The founder said, it is important to render the services where there are lots of opportunities in order to avail the awaited benefits.
The company has allied with its domain partner with an aim to focus on telematics for commercial vehicles to detect the bugs to activate the predictive support to the system.
However, as it is involved in procuring massive data from users the privacy of the user becomes questionable. Though, the company claims to not store any sensitive information but it has the right to measure it for making decisions.
Arion himself said that security has two sides, first is data security and second is security of algorithms which are capable of doing the reserve engineering to procure the data.
There is a huge gap in the industry of Artificial Intelligence that can be filled with companies like CogniTensor that can help create a balance of future demand and supply.
Now is the scope of exceptionally new roles and responsibility and there is a deep blue ocean if one wants to dive in such as language processing specialists and 3 D modelling engineers.
In the IT-BPM sector, the conventional roles of software developers are replaced by data scientists and robotic process automation (RPA) engineers, cloud analysts and architects and many others.
With such a transition in Artificial Intelligence the whole sector along with IT is expected to grow such as in education, health and lifestyles, agriculture, finance, research, weather forecasts etc. that can help to get the accurate insights of the data for scientific decision making.
It will be helpful to the sectors as it is backed with science and will produce solutions that would help not only to reduce the wastage but to eradicate it completely.