According to Allied Market Research, the cognitive computing market size was valued at US$8.87 billion in 2018 and is projected to reach US$87.39 billion by 2026, growing at a CAGR of 31.6% from 2019 to 2026. Cognitive computing is a next-generation system that interacts with human language and helps experts to make better decisions by understanding the complexity of unstructured data. Analytics Insight has engaged in an exclusive interview with Anand Mahurkar, Founder and CEO, Findability Sciences

1. Kindly brief us about the company, its specialization, and the services that your company offers.

Findability Sciences is an Enterprise AI company harnessing the power of data, cognitive computing, and AI to empower businesses around the world as we solve their most complex and critical business challenges. In simple terms, we drive digital transformation in traditional enterprises by making them data superpowers.

Findability Sciences provides a wide range of services including domain-specific Predictions & Forecasting, Conversational Computing, Intelligent Document Processing, and Computer Vision Solutions for leading global brands across six industry verticals. Our 4 key offerings namely Findability.AI, Findability.DSL, Findability.INSIDE & Findability.LABS helps create Strategic, Capability, and Financial Returns on Investments and drives Digital Transformation for all our enterprise customers.

2. Please brief us about any new product/solution you provide to your customers and how they get value out of it.

We have recently launched ERP-Max, a cost-effective add-on AI micro-product for ERP systems. ERP-Max is a configurable and customizable AI toolkit that gives enterprises access to actionable leading indicators such as forecasting, prediction, and propensity modeling that unlocks the data in their respective ERP systems and deliver faster RoI. ERP-Max has an accuracy rate of over 95% of forecasted predictions and is a cost-effective game-changer for the global ERP market.

3. How are disruptive technologies like AI impacting today's innovation?

According to a recent *report by Bain & Company, the AI market in the country is witnessing broad-based awareness and adoption among both enterprises and providers. This elucidates that the possibilities with AI are infinite. Enterprise AI is the implementation of AI, which is seen as a strategic initiative aligned with the business strategy and goals, implemented across the enterprise, and is the integrated and holistic business initiative to acquire a leadership position in the market and gain a competitive advantage by becoming a data superpower. It helps organizations to make data-driven decisions, improve business processes, transform the products, and transform the business model resulting in growth in revenue, improvement in profitability, increased efficiency, reduced waste, increased resilience, reduced risks, and increased customer engagement.

*Bain and Company Report

4. The advancement of AI technology has influenced customers on their current and future needs. Explain the challenges customers face to have the AI in place and how are Findability Sciences helping businesses.

In the current business landscape, traditional enterprises are aiming for agile technology to digitally transform their business and accelerate their growth.  While ERP systems are great for entering, storing, and tracking data related to various business transactions, CIOs, COOs, and Business Analysis teams have struggled over decades to extract, transform and load data from ERPs and then use it in AI/ML applications after combing outside the ERP data, which is time-consuming, expensive and often not real-time analytics.

ERP-Max by Findability Sciences connects to ERP systems through a middleware connector and extracts historic data to be used for Machine Learning to create models. This middleware also can connect to data either within the organizations (such as CRM or HR systems) or external data (such as news or social media). The middleware then feeds into the leading proprietary Enterprise AI flagship offering, Findability.AI, which seamlessly develops, selects and deploys models to provide highly accurate predictions and forecasting. Findability Sciences has developed ERP- Max to provide actionable data related to supply chain, inventory, finance, and human resources. ERP-Max is offered in the US, Japan, and India markets.

5. How can businesses efficiently extract the value from data, without increasing cost and complexity?

Findability Science's ERP-Max helped one of the largest used car retailers in estimating residual prices of automobiles with greater accuracy. We have also deployed ERP-Max for one of the largest electronic component manufacturers to generate real-time quotes with forecasted prices. By connecting to ERP data, Findability Sciences has provided 95%+ accuracies on sales forecasting for thousands of products to the largest air conditioner manufacturer.