AI is key for business growth as it enables data-driven decisions: Findability Sciences CEO, Anand Mahurkar

This is mainly due to the awareness about AI technologies and the resources required within organisations,” said Anand Mahurkar, founder and CEO of Findability Sciences. The company recently launched its Business Process Co-Pilots (BPCs) to augment business processes with the help of AI tools.

AI has been dominating conversations all over the world. While we have been seeing its various capabilities to enhance productivity, from research to image editing, discussions on AI applications and their impact on business is largely reserved to corporate cliques. Businesses too are seemingly going through transformation with AI, and Findability Sciences is a company that is streamlining AI for business processes and unlocking new levels of efficiency for growth.

| What is Ola’s Krutrim AI, dubbed as India’s indigenous AI?

Indianexpress.com sat down with Mahurkar who is leading the change in the AI revolution. During the interaction, the CEO shed light on the company’s cutting-edge solutions such as the BPC and Enterprise Forecasting, and how they are redefining the business landscape.

What are Business Process Co-Pilots?

Mahurkar explained that BPC solution is changing how businesses approach their day-to-day operations. He said that BPC uses natural language processing, optical character recognition (OCR) and large language models like IBM Watson to automate and optimise content-centric business processes. “It is not an autopilot, but a co-pilot. You need a co-pilot because most of the business processes, which are content-centric, involve massive amounts of documents which can be overwhelming,” he said.

By automating the gathering, assembly, and comprehension of information, BPC alleviates the burden on human resources, enabling them to focus on more important tasks. Mahurkar highlighted the impact of this solution, stating, “Instead of three years for a process, it has now come down to one year. Because of this, the product launch happens much faster than expected, increasing their revenue.”

Riding on predictive power

The company’s AI-powered solution, Enterprise Forecasting, uses supervised machine learning algorithms and proprietary algorithms to offer predictive insights to companies.. “Our technology is a self-learning technology, it learns from the historical data.” The key strength of this technology lies in its ability to build multiple self-learning models, taking into account numerous variables to predict outcomes with improved accuracy.

“We have a self-learning monotype modelling that is our proprietary, which helps companies to take as many variables and build as many models fully automatic without human interference,” Mahurkar added.

| Apple’s generative AI ambitions lead to talks with Chinese search giant Baidu: Report

According to the CEO, by harnessing the power of Enterprise Forecasting, organisations can gain valuable insights into future trends, enabling them to make data-driven decisions across various business verticals, including supply chain management, sales planning, pricing, human resources, and customer management. Mahurkar emphasised, “This system will be able to tell you the answers to the question ‘what will happen’ and ‘what to do.’ So, these Enterprise Forecasting Machine Learning Modules will learn from the wide data and tell organisations what will happen and what should be done.”

AI in India

While AI is making strides in the global landscape, it is also making significant waves across India. Mahurkar believes that Indian companies are at the forefront of AI adoption. ” Indian companies have the resources and the ecosystem here has more awareness about AI technologies than many other nations,” he said. Mahurkar’s company is tapping into this trend by founding its development centre in Maharashtra to make the most of India’s technological talent.

Since businesses are increasingly relying on AI solutions, data security and governance have become paramount concerns. When asked about his company’s approach to this, Mahurkar said that Findability Sciences understands this critical aspect and has implemented robust frameworks to ensure data privacy and integrity. “We have a very robust governance framework for each operation in terms of what data goes into the training,” Mahurkar affirmed.

Besides, the company also provides isolated implementations for each customer, ensuring that their data remains secure and confidential. “Our solution is not a multi-tenant SaaS platform, our solution is individual implementation for customers,” he said.

When asked about the concerns surrounding AI adoption leading to fear of job loss. Mahurkar said that he advocates the ‘ECM strategy’ which stands for education, communication, and motivation. “We need to educate and communicate that AI is not here to take jobs. We need generative AI so communication and then motivating all to use AI is the need of the hour to improve productivity.”