In the rapidly evolving landscape of technology, the integration of Artificial Intelligence (AI) in various industries presents both immense potential and significant challenges.
One of the primary challenges lies in the realm of video analytics, where the vast number of cameras installed in industrial and public spaces generate an overwhelming amount of visual data.
The data, while rich in potential insights, often remains underutilised due to the limitations of traditional processing methods.
The sheer volume of footage captured by these cameras surpasses the capacity of human monitoring, leading to inefficiencies and missed opportunities for critical analysis and decision-making.
Furthermore, the existing systems struggle with the accuracy and speed required to effectively interpret and act upon the data captured by these cameras.
Traditional surveillance systems are primarily used for post-event analysis, lacking the capability to provide real-time alerts and proactive responses to incidents such as security breaches, safety violations, or operational inefficiencies.
This gap in real-time monitoring and analysis poses a significant problem for industries and sectors that rely heavily on visual data for security, safety, and operational management.
The challenge is to transform these passive surveillance systems into active, intelligent tools capable of providing immediate insights and responses to dynamic situations.
Job Philp, who was passionate about AI-human association, embarked on his entrepreneurial journey in 2016 when he had to travel extensively to China with one of his portfolio companies. There, he observed that everything revolved around facial recognition, which piqued his interest in artificial intelligence (AI) and its potential to empower businesses.
He realised that most operations of warehousing, agri-storage, logistics & transportation, manufacturing, pharma & healthcare, retail or traffic management, and parking systems; remain manually operated.
He decided to fill this gap and partnered with his IIT-Bombay colleague Nitin Jain to launch Assert AI.
Philip began his professional career in the banking industry by joining Yes Bank as the Vice President of Investment Banking in March 2006.
Five years later, he moved to Kotak Mahindra Bank, and after a year, he transitioned to ICICI Venture as a Principal. There, he concentrated on investments in the pharmaceutical, specialty chemicals, and technology sectors.
Assert AI is not Nitin’s first venture. Before co-founding Assert AI, he co-founded Machadalo and I&A Inflotics. In addition to his entrepreneurial endeavours, he worked as a Senior Consultant at Capgemini, Nestcribes and 2S Consulting. He also served as the Head of West India Operations at OYO Rooms.
The making of Assert AI
The creation of Assert AI is a story of innovation and adaptation in the field of artificial intelligence (AI). Co-founders Philip and Jain set out with a vision to develop a software solution that could work with any camera available in India. Their goal was to make existing cameras smarter by enabling them to analyse video feeds in real-time for various industrial applications.
Assert AI officially launched its solutions in 2020, at a time when the AI industry was experiencing rapid growth. The timing proved beneficial for the startup, as it saw a significant increase in demand for its services.
The co-founders believe that their software has the potential to be used with millions of existing cameras in various industries, tapping into a market they estimate to be worth over $100 billion globally.
Since its inception, The startup has grown to over 65 employees, with offices in major Indian cities like Mumbai, Bengaluru, and Delhi. Among its early clients in India were notable names like ITC Limited, Phoenix Mall, and Arya.
What does Assert AI do?
Assert AI is a Mumbai-based startup that specialises in providing computers with capabilities similar to human vision but without the errors that humans can make. Essentially, they equip computers with “eyes” that are always alert and software that can process visual information.
According to the startup, this technology, known as computer vision, allows computers to recognise and process objects in a way similar to how humans do. The startup uses advanced technology to help businesses and organisations automate their processes, enhance customer experiences, and gain insightful data about their operations.
This could be particularly useful in environments like warehouses, where identifying and tracking items like forklifts, trucks, service carts, cranes, and workers is crucial.
Basically, It offers SaaS solutions that are infused with artificial intelligence for comprehensive video analytics across diverse business sectors, enterprises and corporations.
Some of its key solutions include face recognition, object detection, weapon detection in high-risk areas, docks utilisation, packet counting in warehouses, and safety gear detection, among others.
For instance, Assert AI’s technology helps manage supply chains more efficiently. The startup does this by using advanced tracking methods that can keep a very accurate count of what’s in stock and where it is, which helps organise inventory better.
Additionally, The startup can predict when equipment might need fixing before it actually breaks down. They use regular CCTV cameras and special drones equipped with AI, which they create themselves, to monitor and gather all this information, making the whole process of managing a warehouse or supply chain smoother and more efficient.
Why did the founders choose computer vision solutions?
Job Philip and Nitin Jain of Assert AI chose to focus on computer vision solutions because they recognised the potential to transform standard CCTV cameras into smart, analytical tools.
They saw that by using machine learning algorithms, they could analyse the video feeds from existing CCTV cameras in real-time, enabling them to monitor and improve the efficiency and productivity of various resources like trucks, employees, and docks in a much more effective way.
Their interest in computer vision was further fueled by their observations and research. The founders noticed that while some advanced cameras came with built-in capabilities like facial recognition and number plate recognition, these cameras were quite expensive, costing up to Rs 50,000, and were limited to only the functions they were specifically designed for.
This limitation sparked the idea to develop versatile software instead, which could work with any camera – be it CCTV cameras, drones, or mobile devices. They aimed to create software that acts as a ‘cognitive center’, capable of interpreting and understanding the visual data captured by these cameras.
The approach would not only make the use of cameras more intelligent and efficient but also provide a cost-effective solution compared to specialised high-cost cameras.
Philip and Jain envisioned a system where the software could provide real-time insights and analysis, making it a powerful tool for various applications. They have been harnessing the power of computer vision and machine learning to enhance the capabilities of ordinary cameras since Assert AI’s inception.
How does it work?
Assert AI has a special system that can quickly spot problems and send alerts right away, including detecting if someone enters a place they shouldn’t, noticing fire or smoke, seeing if people aren’t wearing safety gear like helmets or gloves, catching thefts, and identifying when things aren’t being handled properly.
Notably, the technology isn’t just for factories and warehouses; it can also be used in stores and hospitals and for managing traffic. The software works like a human eye, watching through cameras and giving instant updates about safety and how well things are running.
Usually, cameras are only checked after something has happened, but Assert AI’s system monitors things as they happen. Philip explains that their software is designed to observe and analyse in real-time, much like how a human would, but it’s used on camera footage.
What kind of services does Assert AI offer?
Assert AI offers a range of advanced computer vision services, including a Facial Recognition Toolkit, Object detection and tracking toolkit, Health & safety compliance toolkit, security toolkit, footfall monitoring toolkit, bay analytics toolkit, productivity toolkit, drone-based AI, and gesture emotion analytics.
Facial Recognition Toolkit is used for real-time identification and authentication, such as employee attendance, productivity monitoring, and detecting blacklisted individuals. The startup claims that it enhances security and access control through AI-based video analytics.
Object Detection and Tracking Toolkit detects and tracks various objects and situations, like intrusions, loitering, weapons, fires, road blockages, and vehicle identification. It uses AI to provide real-time responses, improving workflow and efficiency.
Health & Safety Compliance Toolkit ensures workplace safety by detecting safety gear, PPE usage, and health hazards. It uses AI analytics to maintain a safe working environment and assist in predictive maintenance.
Security Toolkit focused on preventing security breaches by using AI surveillance to detect unauthorised entry, crowd formation, restricted area movements, and more, ensuring high-level security with existing CCTV setups.
Footfall Monitoring Toolkit analyses video data to measure foot traffic, density, and hotspot areas in retail environments. It helps businesses adapt to consumer behaviour and optimise operations.
Bay Analytics Toolkit monitors productivity metrics like truckload optimisation, dock utilisation, and load planning. It identifies inefficiencies, reduces costs, and notifies of any violations or deviations.
Productivity Toolkit aims to boost workplace productivity by providing insights on space and machinery utilisation man hours and creating an automated inspection system to monitor for damage and pilferage.
Drone-based AI combines AI with drone technology to offer perimeter security, inspection, surveillance, spillage detection, inventory analytics, and intra-logistics solutions.
Gesture / Emotion Analytics analyses gestures and emotions for applications like performance enhancement, personalised coaching, injury prevention, and marketing insights. It provides fast and accurate detection and analysis.
Assert AI’s international presence
Assert AI has also begun expanding its reach internationally, particularly in the US and UAE, aiming to triple its operations and achieve significant revenue growth. The startup’s business model revolves around providing AI-as-a-service. This means they deploy their AI software at customer locations and charge a monthly fee for the service.
Its solutions cover various applications, including quality control, inventory management, and health, safety, and environment (HSE) monitoring. They also offer customisation to meet specific client needs, especially in terms of quality assurance and standard operating procedures.
How does it earn money?
The startup operates on a dual revenue model where it generates revenue through both initial setup fees and ongoing subscription plans, allowing it to cover the costs of customising its solutions for each client while also providing a steady income stream through monthly or annual subscriptions.
Assert AI faces competition from other companies in the AI space, such as Integration Wizards, Staqu, Tango Eye, Wobot, EverSeen, Leela.ai, and DeepNorth.
However, Philip emphasises that their solutions are designed to augment human capabilities, not replace them. He believes in the synergy of human intelligence and AI, where technology enhances human skills and ingenuity.
Assert AI funding and investors
In November 2022, Assert AI raised $2 million in funding from Prashant Purker, the former Managing Director and Chief Executive of ICICI Venture, and the agritech startup Arya.ag.
The funding was intended to expand the business in the US and to develop specific capabilities in the agribusiness domain.
“Assert AI is uniquely placed to solve customer needs around video analytics. In fragmented agri value chains, assurance is essential to bridge the trust gap,” Prasanna Rao, Co-Founder & Managing Director, Arya.ag earlier said.
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