LatentView&#8217;s LASER Focus GenAI for Business Breakthroughs
LatentView Analytics considers “generative AI” to be the buzzword as everybody is looking at how to make use of it to create further impact on the business. “It’s not that organisations were not making use of data or analytics in the past. But in some sense generative AI has democratised this whole area.” said Rajan Sethuraman, CEO, LatentView Analytics, in an exclusive interview with AIM. Sethuraman said that every organisation has its own databases. “Utilize them to generate higher quality insights and create a greater business impact from the information already available within the organisation,” he added. Furthermore, he said that LatentView Analytics is focused on a two-pronged approach when it comes to Generative AI through its offerings – LASER and AI Penpal, utilising OpenAI’s and a few open-source models. Moreover, he said the company is not planning to create its own LLMs due to the high computational costs and power requirements. “AI Penpal is aimed at creating highly personalised marketing email content and campaigns for the long tail of accounts that you want to target but don’t have the salesforce and bandwidth to make that kind of personalised effort,” said Sethuraman. He further explained that AI Penpal helps create engaging content, whether it is text or visual images, analytics images, with the intent of having specific, tailored content that appeals to target customer segments. LASER, on the other hand, is aimed at mining insights from text documents. “Everybody does text analytics, but now, with the power of generative AI, there is a lot more you can do, whether it’s your procurement contracts, customer reviews, or services that you conducted,” said Sethuraman. For the above mentioned products he highlighted the company’s strategic approach of targeting a wide range of SaaS companies in the B2B market, considering substantial traction observed in that sector. “We are also observing traction with consumer packaged goods (CPG) and retail companies utilising LASER, which focuses on mining text data,” he added. Moreover he mentioned that their partnership team is working with several organisations, starting with AWS, Google Cloud Platform, Microsoft Azure, Snowflake, and Databricks. Additionally, they have collaborated with providers like Fivetran and Neo4j for graph databases. “However I would say that the most traction is with AWS and with Databricks. That’s where we are seeing a good amount of interest reciprocated by the partner as well”, he added. Focuses on Europe In the backdrop of concerns about the macroeconomic environment, Rajan stated that the focus is currently on the US market. However, LatentView Analytics is expecting new opportunities to arise in Europe. “Right now, it is all US-centric, and Europe is still very small, contributing only 2% of that. We are expecting that as we exit the year, Europe will start picking up more steam,” he said. He further added that LatentView Analytics has already won a couple of accounts in Europe. “I’m expecting that maybe by the middle of next year, in the next fiscal year, Europe will start reaching the 5% plus mark in terms of contribution. Our target is to reach 8% over a two-year period. We are anticipating that Europe will start contributing about 15% of the revenue.” he added. India still in early days Sethuraman told AIM that the Indian market is still in its very early stages, considering bandwidth and other constraints. However, to date, the company has executed three projects in India. Sethuraman explained that one of them involves a complete Indian business house in the two-wheeler automotive space. Another project involves a Japanese device manufacturer, and LatentView has been assisting them with a comprehensive overhaul of their data analytics strategy and initiatives. The third project is for a multinational oil and gas company based in the GCC operating in India, where they require support in the field of data analytics. Sethuraman further spoke about the company’s expanding presence in the Indian market.”We have a small team that is now dedicated to the India market.” he said. Sharing the strategy for the India expansion, Sethurman said that the participation in external events has generated a stream of promising leads for them. He further mentioned that the company’s recent IPO has significantly increased awareness of LatentView Analytics in the market. Future Projections In the latest  second-quarter results for the fiscal year 2024, the company  witnessed a growth of 5.4% quarter-on-quarter and 17.6% year-on-year, reporting a revenue of $1.56 billion. He is optimistic that in Q3, the company will be able to report slightly better numbers in growth terms over Q2. “We are expecting that revenue growth will probably be in the 6% to 7% range for quarter three,’ said Sethuraman. He added that the number and value of opportunities are more than double what they were at the same time last year.
LatentView Analytics is focused on a two-pronged approach when it comes to Generative AI through its offerings – LASER and AI Penpal
LatentView Analytics is focused on a two-pronged approach when it comes to Generative AI through its offerings - LASER and AI Penpal.
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["AI", "analytics", "generative AI", "OpenAI", "Aim", "AWS", "Azure", "Snowflake", "Databricks", "R"]
Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.