Actify Data Labs is a data platform and machine learning company that helps organizations leverage the power of data using its data platform ADAPTify, its product suite, and its dedicated digital lab.
ADAPTify is an end-to-end data platform that helps an organization navigate all the steps needed to leverage data. Viz: Integrating data across sources (both structured and unstructured), creating data lake, data marts, dashboards, and reports, building machine learning models, and exposing data or ML models as APIs so that data can be securely provided to other systems.
Actify Data Labs' machine learning-driven product suite comprises UCID, Customer Identity Management, BMI Meter, Actify Document Manager, Actify Share, Actify Short link and QR code utility, Insight bot, and Disease Code Mapper.
The company's Digital Lab develops and implements machine learning models to leverage the power of image, text, and IoT data. Actify Data Labs focuses on developing ML solutions and implementing the solutions similar to automated pipelines, APIs, Mobile Apps, and Web Apps.
The company helps its clients address all the data strategy elements required to derive value from data.
Data is the heart of machine learning and AI. Integrating data across multiple sources and making it available for insight generation, real-time decisions, and building AI and ML solutions are the most imperative foundations required to develop the future technology stack.
Most data-driven initiatives within organizations tend to take more time to demonstrate tangible outcomes. In addition, these initiatives involve very high costs. As a result, only large organizations could invest in building robust data-driven solutions.
Actify Data Labs was born with the vision to enable organizations of all sizes and budgets to leverage the power of data. The company's all-data platform provides each building block required to leverage data. It also empowers the agile data journey wherein tangible results can be demonstrated within 60-90 days. All these come using open source technologies, providing one of the lowest costs of ownership will be achievable. Actify Data Labs' mission is to democratize data use and make it available to every organization.
Actify Data Labs was founded by Hindol Basu and Bijoy Khandelwal. A few months later, Bilal Arif joined the founding team. Hindol currently serves as the CEO of the company. He is a veteran data science leader and holds about 16 years of machine learning experience spanning across multiple industry verticals and markets. Hindol had led multiple analytics initiatives in the Indian, Asia Pacific, and North American markets across a wide variety of industries, including financial services, manufacturing, and retail. He has also pioneered the development of innovative solution frameworks in IoT, leveraging macro-economic data for risk estimation, and building grey-box ML frameworks. Hindol was nominated as the Top 10 Data Scientists in India in 2015, by the Analytics India Magazine. Being passionate about teaching analytics and data science to young students and professionals, he has also co-authored numerous books.
Bijoy, the COO of Actify Data Labs, is the technical brain behind the company's data platform and product business. He has deep experience in Big Data technologies, system architecting, scalable AI and ML deployment, ML solution development, optimizing system performance, and data engineering. Bijoy is also one of the foremost experts in managing data quality challenges and master data management challenges in the Indian context.
Bilal is the Chief Analytics Officer of Actify Data Labs, who has created the solutions for leveraging text, image, and IoT data. He is a leading expert in developing explainable ML models and deep learning. Bilal is also the insurance industry expert who has helped create many insurance specific ML products as Actify.
Together the founders were able to bring in all the strategic and technology dimensions required to develop the data platform and create winning value propositions to prospects. In the two years post–launch, the platform has been implemented across ten organizations, which testifies to the winning partnership.
In India, most technology, analytics, and data science companies specialize in the services business that hinges on rupee-dollar arbitrage, a proven business model. As opposed to this well-established model, Actify Data Labs has been focusing on a product-first strategy, which aims to empower organizations, irrespective of their size, with the technologies required to leverage data. The company believes that data will be a critical competitive tool in every industry. Its platform will ensure that the power of data is made available to a broader set of organizations. Finally, Actify Data Labs' goal is to build a dedicated "made in India data platform" that will put the country in the technology product map (as opposed to being providers of cheap services only).
"While the sci-fi-sounding AI scenarios highlight the technology's incredible computational power, the practical, effective applications begin with data." – Willem Sundblad (Forbes)
"Machine learning has incredible power, and you need to learn to tap that power. Poor data quality can cause that power to be delayed, denied, or misused." – Thomas C. Redman (Harvard Business Review)
Actify Data Labs observes that the current scenario is encapsulated by the two observations quoted above. The technology providers and consultants have been focusing on the incredible power of ML. But the devil is in the details, and that detail involves getting the data across all systems within an organization integrated into a single place and putting a data quality layer on top. The company believes that it will be able to solve this problem for all organizations irrespective of size.
Actify Data Labs sees a huge gap between expectations and real on-ground benefits that today's technologies are delivering on emerging trends responsible for technology development. Hence, it is very critical for product and service providers to have a sharp focus on the value that is being delivered and the time required to deliver that value. The other trend that is becoming important is the wider adoption of advanced technologies beyond large enterprises; this trend makes the value delivery need even stronger to address.
Moreover, focusing on speed of implementation, ability to adopt an agile approach, keeping attention on quantifiable value delivery (beyond the hype), and helping create new business models through the use of AI/ML and Big Data, that Actify Data Labs perceives are the driving force of the big data analytics market growth.
Traditionally, Indian players focus on a service-led strategy. However, in the initial years, it was difficult for Actify Data Labs to gain the trust of its prospects as a product platform that could deliver value and compete with some of the biggest names in the industry.
Focusing on its platform-centric strategy, which allows the company to build a long-term relationship with clients and demonstrate continued value from their investment in their data strategy, is Actify Data Labs' core business strategy that sets it apart from peers.
For its innovative product and services delivery, Actify Data Labs has been bestowed with numerous accolades and recognitions. This includes ten emerging analytics start-ups in India to watch out for in 2020 and 13 Leading Data Science Products From India That Made It Big In 2019, by Analytics India Magazine. The company was also recognized as the ten most promising start-ups in India 2019 by CIO Review, as well as Silicon India's top 10 featured start-ups.
Actify Data Labs focuses on democratizing the use of technologies to leverage data and make them available to a wider set of organizations. Traditionally, large organizations had been leveraged technology based on their budget and their internal tech teams' size required to harness data. To the contrary, Actify Data Labs aims to change that and democratize all aspects of the technology puzzle required to leverage data.
Actify Data Labs notices that the pressure of delivering demonstrable value will get stronger as COVID plays havoc with investments that are made available for discretionary spending. Organizations will be open to exploring technologies going beyond traditional providers. In this scenario, open–source will become more and more mainstream. Data will continue to play the most crucial role, and organizations with the best–annotated data will create the strongest AI/ML solutions. While most businesses will leverage value from customized AI/ML (models built using the data of the company), only companies like Google will be able to create real generic AI solutions as they will have access to the largest and most reliable sources of annotated data. Further, every leader will be a user of AI, ML, and Big Data solutions in the coming years. Already, functional leaders are becoming key to leveraging these technologies.
Last year, Actify Data Labs had increased its revenue by almost 100%. Despite COVID, the company sees it will be generating its revenue by ~30% this year.
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