In the ever-changing business landscape, the only way to sustain is by harnessing the next-gen technologies like Artificial Intelligence and Machine Learning. Many sectors have become dependent on such technologies to unlock new and sustainable business growth. AI and ML technologies are surely going to impact the future across industries. HyperVerge is one of the market players helping large companies by offering seamless and cutting-edge AI / ML solutions. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Kishore Natarajan, COO & Co-Founder, HyperVerge. Mr. Kishore spoke about their journey, offerings and growth plans. Read below the excerpts:
Rajeev: Please tell about the journey of HyperVerge so far. What have been the key growth drivers for you in this journey?
Kishore: HyperVerge was founded by graduates from IIT Madras. They sowed the seed for HyperVerge in 2013. The idea for the company emerged when the founders realized the potential of using AI and automation to solve some of the most critical issues of any service provider.
HyperVerge has grown 10x in revenue in 2019. The company is in a hyper growth stage and is looking at a 4x growth y-o-y. The team is also simultaneously focused on building a long-lasting company and finding meaning to bring positive changes in the lives of people by leveraging the team’s capabilities
Rajeev: What techniques do you follow to ensure the highest accuracy in your AI solutions?
Kishore: HyperVerge is a game-changer for assuring data security by using its AI approach. The company’s AI models for real-time image and video analysis lead the market on accuracy (99.5%) and recall (99.3%) values and are optimized for deployments in low bandwidth environments. HyperVerge is the only Indian company to be recognized for its advanced facial recognition feature by NIST and also, it is one of the three companies to have received ISO certification for ‘Liveness solution’.
Rajeev: How the technologies like AI and ML are transforming the data security scenario?
Kishore: Data security is of the utmost importance when it comes to securing confidential data. Government organizations, as well as private organizations, store tons of data varied kinds of data, which need to be always secured. The company currently offers AI / ML solutions in the financial services and geospatial industries. Both AI/ML is used to create expert system that will exhibit intelligent behaviour. Artificial Intelligence can provide the necessary security and help to create a layered security system which enables a high-security layer within these systems. Through the use of advanced algorithms, Artificial Intelligence helps identify potential threats and data breaches, while also providing the necessary provisions and solutions to avoid such loopholes.
Rajeev: Which all verticals do you serve in Indian market? Which are the top 3 segments where do you see maximum consumption or requirement of your solutions?
Kishore: The expert systems network built by Hyperverge is serving large enterprise clients in Leading Consumer Lenders, Telcos, defense, energy, security, Insurance, Government and Financial Services. The companies use HyperVerge’s Fintech Platform for onboarding customers seamlessly, identity verification, fraud check, eKYC and other services. HyperVerge currently helps clients onboard over 30 million customers every month (~3% of India’s population). The AI engines lead the market in accuracy and on field performance, resulting in lower costs, high revenue generation, better customer experience.
Rajeev: What is your growth roadmap to grow your footprints and the revenue in year 2022?
Kishore: With the advancement of technology and AI/ML impacting the future of virtually every industry and every human being. Companies like us who is providing services in the machine learning and technology space are experiencing exponential growth. AI is considered to be technology of the future, it’s touching almost every field, starting from improving the customer service sector to data security AI/ML is applicable throughout.
