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Intellect launches AI platform with ₹2,000-crore revenue potential

Intellect launches AI platform with ₹2,000-crore revenue potential
Intellect sees upto ₹2000 crore revenue potential for new AI ‘enterprise context’ platform · thehindubusinessline.com

Intellect Design Arena is launching a new platform called MSOCK.

It is designed to help artificial intelligence understand how a company’s systems and rules work.

The platform connects old databases, documents, software systems and business practices.

Intellect says this could help banks and other companies use AI more successfully.

The company has tested MSOCK in 141 projects.

It says the platform reduced the time needed to deploy new AI projects by as much as half.

Intellect estimates the product could eventually produce ₹500 crore to ₹2,000 crore in revenue.

It plans to first offer MSOCK to customers in North America, Europe and the Middle East.

Key facts

Platform
MSOCK, short for Multidimensional Multilayer System of Connected Knowledge
Estimated revenue potential
₹500 crore to ₹2,000 crore
Internal use
Used in 141 projects
Reported deployment benefit
Up to 50% reduction in the deployment cycle for new AI projects
System model
A 21-dimensional spatial graph of enterprise technology systems
Potential customers
Banks, global capability centres, wealth management companies and insurers
Research and development
About 12-15% of Intellect’s revenue; roughly 20% of its workforce is engaged in R&D
Reported first-quarter revenue
₹3,299 crore, described as 23% higher year-on-year

Quotes

Arun Jain

Chairman of Intellect Design Arena

“AI knows the world, but it does not know your bank. It may know how to generate code, but cannot inherently know why a transaction rule was created, a legacy service was used or a downstream system that was affected by a change.”
thehindubusinessline.com
“We need to focus more on R&D, even if it hurts margins by 1 or 2 per cent. Indian companies sit on enormous amounts of cash and look at dividends or buybacks instead of investing them into building cutting edge solutions.”
thehindubusinessline.com

Sources

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