The industry is innovating with artificial intelligence and machine learning solutions. In this buzzing scene, another trend which underpins the growth of service providers is the marked shift from rule-based systems to data-driven automation. The challenge now is for analytics service providers to develop new products and strategy, lay down the foundation for AI and ML capabilities and reach out to industry stakeholders for new business opportunities. Given the centrality of deep tech to businesses, service providers and enterprises are introducing ML and AI capabilities to their product portfolio.
On the one end of the spectrum are India’s leading telecom service providers like Vodafone and Reliance who have shifted the focus to AI and big data technologies to improve customer experience. And on the other end, are big data and analytics service providers that are beefing up their offerings with AI-focused services.
Analytics India Magazine caught up with Subex CEO and MD Vinod Kumar on the need for diversification into new verticals and on the need to add AI and ML to their portfolio. In a bid to diversify, the Bengaluru-based telecom analytics and critical infrastructure security solutions provider decided to launch CrunchMetrics, a division of Subex Digital. CrunchMetrics provides an advanced anomaly detection system which will help organisations uncover new business opportunities and reduce risks in real-time.
“The decision to mark out a new brand identity stemmed from the fact that there is a huge market size for anomaly detection. As per an estimate, the anomaly market is about $2 billion being and is projected to touch $4.5 billion by 2025,” shared Kumar.
Shankar Roddam, Chief Operating Officer at Subex, added, “CrunchMetrics adopts new-age technologies such as AI, ML to interpret data, thereby making it a flexible channel that organisations can leverage to make business decisions. In addition to this, the platform also integrates with existing systems through API or web service mechanism.”
Here’s Why Subex Decided To Launch A New Brand That Aims To Enter High-growth Areas
- Speaking on the decision to embed AI and ML into the applications portfolio, Kumar revealed that the new brand will help the company enter into new high-growth areas like FinTech and retail segments, who are also major consumers of data.
- Besides being vertical agnostic, CrunchMetrics, that features an advanced anomaly detection system and leverages AI and ML to sift through data and identify anomalies will operate on a SaaS model.
- The new division with a separate identity is significantly different than the core business and will enable the parent company to add a new revenue stream and attract business to this side of division. “That’s why we decided to go with a separate identity, a new brand within our overall portfolio,” shared Kumar.
- Another key reason was while Subex had been active predominantly on the telco side, it offers narrow-purpose analytics for specific areas such as fraud. Also, the telcom analytics provider had been operating in a consulting engagement role. At CrunchMetrics, there is a self-learning AI/ML-based solution which can automatically correlate business anomalies and deliver maximum business impact.
- Also, as the size of datasets increase, companies lack human capital and the only business problems can be addressed is by deploying AI solutions. CrunchMetrics will enable Subex to address the huge market for anomaly detection that is expected to touch $4.5 billion by 2022.
- The company also intends to move into a no-touch, no friction engagement with the customers and subsequently scale it to other verticals.
- Digital Trust is an area where the company expects to see more momentum and going forward, the company plans to cover the whole gamut of services around digital trust (for eg: solutions on confidential data, security and privacy)
Breaking down the company’s core strategy, Kumar shared, “Horizon I focused on existing products which have a mature market, the company is also doubling down on expanding their market share in this area. To that end, the company also moved into big data and embedded AI for specific, narrow-purpose solutions. On Horizon II, they have hit the market with solutions tailored for IoT security and insights, while Horizon III will capture new emerging areas such as digital trust, security and privacy.”
So far, CrunchMetrics has customers on the telco side and also co-created a solution for a client. The company is actively doing PoCs on the retail end. Currently, CrunchMetrics has a headcount of 25 people, all in the AI/ML team and the company also plans to augment this team in the future.