In the rapidly evolving landscape of Artificial Intelligence (AI), Mumbai-based Assert AI has emerged as a frontrunner, transforming video analytics across diverse sectors.
Founded in 2019 by Job Philip and Nitin Jain, the startup specializes in Software as a Service (SaaS) solutions infused with AI, making significant strides in the realm of comprehensive video analytics.
Assert AI Pioneers AI-Infused Video Analytics Across Sectors, Gains Momentum in Global Markets
A Fusion of Finance and AI Passion: After a successful decade in investment banking, Job Philip decided to channel his passion for AI-human collaboration. His entrepreneurial journey began in 2016 during extensive travels to China, where the intrigue of facial recognition and advanced AI applications ignited the spark for Assert AI.
In 2019, he co-founded Assert AI with Nitin Jain, a seasoned professional with over 15 years of diverse experience, including entrepreneurship in the hyperlocal advertising platform Machadalo.
Revolutionizing On-Premise AI with Chanderi Fabric: Assert AI focuses on bringing on-premise AI, particularly in the form of Computer Vision, to businesses on a scalable level.
Their flagship offering, the Pure White Chanderi Plain Fabric (RFD), stands as a testament to this commitment. This fabric serves as the backbone for making millions of cameras inside industrial setups intelligent, providing a transformative impact on sectors such as manufacturing, supply chain management, and more.
Real-Time Insights and Alerts: The innovative technology from Assert AI goes beyond traditional video analytics. By mimicking human eye behavior, their Computer Vision operates in real-time, generating immediate alerts for various deviations. This includes intrusion detection, fire or smoke detection, adherence to personal protective equipment (PPE), theft incidents, and irregularities in material handling. The applications extend to manufacturing, supply chain, retail, healthcare, and traffic management.
Recognition and Funding Success: Assert AI’s groundbreaking work has not gone unnoticed. The startup secured the second position in YourStory’s prestigious Tech30 list for 2023. In a funding round last November, Assert AI raised $2 million from notable investors, including Prashant Purker, former MD and CEO of ICICI Venture, and Arya.ag, an agritech startup.
Powering Global Expansion: Leveraging the power of computer vision, Assert AI is making waves in international markets. The startup’s solutions have garnered success in the US and UAE, paving the way for further expansion. Assert AI’s ambitious plans include tripling current operations, reaching a monthly run rate of approximately 90 lakhs to a crore by March 2024, and aiming for an Annual Recurring Revenue (ARR) of about a million dollars by the end of the fiscal year.
AI as a Service: Assert AI provides AI-as-a-Service, deploying AI software on customer premises with a flexible monthly payment structure. The solutions cover a spectrum of use cases, including quality control, inventory optimization, and Health, Safety, and Environment (HSE) monitoring. Customization options cater to client-specific needs, ensuring adaptability to various industries.
Human-AI Collaboration for Enhanced Efficiency: While Assert AI’s solutions are designed to eliminate human errors from critical processes, the founders emphasize that AI is not a replacement for humans. The startup envisions a harmonious fusion of human intelligence and AI innovation, where technology augments human capabilities rather than substituting them.
As Assert AI continues to redefine the landscape of video analytics with AI integration, its journey reflects a commitment to innovation, scalability, and the seamless collaboration of technology and human expertise.
FAQ
1. What is the core technology behind Assert AI’s video analytics solutions?
Assert AI’s video analytics solutions leverage advanced Artificial Intelligence, particularly Computer Vision technology. This innovative approach allows the software to interpret visual data captured through cameras, drones, and mobile devices. By mimicking human eye behavior, the system operates in real-time, offering immediate insights and alerts for various deviations.
2. How does Assert AI differentiate itself in the market of video analytics?
Assert AI stands out by providing Software-as-a-Service (SaaS) solutions infused with AI, specifically tailored for comprehensive video analytics. The focus on bringing on-premise AI, especially Computer Vision, to businesses on a scalable level distinguishes Assert AI. The use of the Pure White Chanderi Plain Fabric (RFD) as a foundation for making cameras intelligent is a unique and transformative approach.
3. Can Assert AI’s solutions run on existing cameras within industries?
Yes, Assert AI’s solutions are designed to run on millions of existing cameras inside industrial setups. This capability allows for a seamless integration of AI-driven video analytics into established infrastructures without the need for extensive hardware upgrades.
4. In which sectors and industries can Assert AI’s video analytics be applied?
Assert AI’s video analytics solutions find applications across diverse sectors, including manufacturing, supply chain management, retail, healthcare, and traffic management. The technology provides real-time insights and enhances safety and productivity in industrial and business settings.
5. How does the Pure White Chanderi Plain Fabric contribute to Assert AI’s solutions?
The Pure White Chanderi Plain Fabric (RFD) serves as the backbone for making cameras smart within industrial setups. This fabric, developed by Madhav Fashion, enables the infusion of AI into existing camera systems, allowing for comprehensive video analytics with a transformative impact.
6. What geographical markets is Assert AI focusing on for its expansion?
Assert AI is strategically expanding its footprint in the US and UAE, leveraging its success in these markets to further penetrate international territories. The startup aims to position itself as a global leader in AI-infused video analytics solutions.
7. How is Assert AI addressing the growing demand for video analytics in the market?
Over the past year, Assert AI has experienced significant growth in demand for its solutions. The startup is poised to meet and exceed this demand by aiming for a substantial expansion, targeting a tripling of its current operations and achieving a robust Annual Recurring Revenue (ARR) by the end of the fiscal year.
8. What is the revenue model adopted by Assert AI for its video analytics solutions?
Assert AI operates on a revenue model that includes both initial setup and ongoing value. Clients incur a one-time setup and customization cost, and subscription plans are offered on a monthly or annual basis. This flexible model ensures accessibility for businesses of varying scales and structures.
9. How does Assert AI envision the collaboration between human intelligence and AI innovation?
Assert AI firmly believes in the fusion of human intelligence and AI, where technology serves to augment human capabilities rather than replace them. The partnership between human ingenuity and AI innovation is evolving in parallel, with Assert AI striving to make industries embrace the best of both worlds for enhanced efficiency and effectiveness.
