Unlike Indian IT companies, LatentView Analytics’ approach with generative AI has been notably transparent. During the third quarter, the Chennai-based data analytics firm secured two significant new clients. One of these clients is exclusively leveraging the generative AI solutions offered by LatentView.
“We had two big wins this year. One of them is really on the back of LASER, the generative AI solution that we have. In fact, LASER is going to be the main solution that will be deployed,” said Rajan Sethuraman, CEO, LatentView Analytics, in an exclusive interview with AIM.
Further he said that the project is about $650K worth of work, and is the largest account that they have to date. The new client plans to leverage LASER’s capabilities for analysing unstructured data related to platform engagement. “The project will focus on sentiment analysis,” said Sethuraman, explaining, “It’s essentially about sentiment, user experience, user feedback, and reviews.”
Sethuraman said that being a smaller organisation compared to Indian IT companies, they were able to understand the technology quicker. “I think its an advantage we have over larger organisations that we are a smaller company, focused exclusively on AI and analytics.”
“Larger organisations will have the capability to invest more money in getting things done. However, some of this also calls for nimbleness in terms of how quickly you’re able to understand and appreciate a new technology and how you can quickly connect the dots with a business problem that an organisation is trying to solve,” he added.
LatentView Analytics currently competes with the likes of Mu Sigma, Fractal Analytics, Tiger Analytics, Association of Data Scientists (ADaSci), and Tredence. Sethuraman mentioned that, in some instances, it also sees Indian IT companies as a threat too. “We sometimes compete with the analytics practices of larger organisations, like Accenture, Infosys or TCS. Deloitte, for example, we have seen them as a threat,” he said, sharing the competitive landscape of providing AI and analytics solutions to its customers.
Generative AI Strategy
LatentView told AIM that it is taking a three-pronged approach in terms of how it looks to utilise and leverage generative AI. Firstly, it aims to build products that have generative AI at their core, such as LASER and AI Pen Pal.
Secondly, LatentView plans to add generative AI layers to the existing solutions it offers. “We have our OneCustomerView solution. We have on-shelf availability in the area of supply chain. There is a way we can enhance the acceptance, adoption, and relevance of these solutions by having a generative AI layer,” said Sethuraman.
Lastly, LatentView Analytics aims to increase the productivity of employees within the organisation with the help of generative AI. Sethuraman has expressed the goal of unlocking 20% productivity for all employees, which means that tasks that previously required 10 people can now be accomplished with eight.
Partnerships
The company recently partnered with NVIDIA to develop new innovative solutions for its clients. “We conducted a very interesting proof of concept (POC) that establishes how we can utilise the latest stack that NVIDIA offers on the inference side, as well as some of the other components they have on top. We have built a very interesting solution using that,” said Sethuraman.
LatentView Analytics is currently working with Microsoft as well. “We do a lot of work for Microsoft Azure Stack. In particular, we are having some very good conversations with Microsoft Fabric,” said Sethuraman.
“Fabric integrates many different components. It can serve as a one-stop shop and solution for various things. Organisations can more easily consolidate and accomplish many tasks using the Fabric ecosystem, as opposed to trying to buy different things piecemeal,” he added.
Furthermore, LatentView Analytics has partnered with AWS to build and deliver analytics solutions to financial services, consumer goods, and retail companies. “AWS is a significant player in some of the industries where we are present. So, the plan is just to double down and drive more engagement with them,” said Sethuraman.
Geographical Breakdown
Sethuraman said that the US continues to be the dominant geography, contributing 94.5% of overall revenues, while Europe contributed about 2.2%. However, he believes that Europe and Asia Pacific will gain more traction in the upcoming quarters.
“From a revenue standpoint, it is expected that within that three-year time frame, Europe and APAC could potentially contribute anywhere between 10% of revenue,” he said. Sethuraman told AIM that the Indian market is still in its very early stages, considering bandwidth and other constraints.
“Overall we are anticipating a growth rate of 16 to 18% for the full year, and I believe this is a pretty good number, considering that most other organisations have struggled this year,” concluded Sethuraman.
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