AI has been growing rapidly for the past couple of years. Can you tell us about some of the significant developments that have happened over the years, and the potential for AI in the Indian market?
AI is transformative in nature – primarily impacting business models; it has helped organisations leverage it and transform the way they operate and serve customers. AI has existed for a long time but it’s becoming more pervasive now. What gives this a quantum jump now is the availability of sensing technologies across multiple domains with cheaper sensors and cloud computing, which has reduced the computing costs as well as enabled newer delivery mechanisms with mobile. AI will impact India across industries from manufacturing to healthcare to delivery of services from governments. Just like mobile technology had India leapfrog telecommunications, AI will enable India to leapfrog across industries.
There are various giants providing AI technology services in the industry. How is Neewee ensuring its market share? How do you like to position your organisation in this space?
We consider ourselves different in the way we approach problem statements. The first is that, we are swift, and we do deployments in as short as six weeks for each line – enabling faster value realisation. Secondly, our solution is practical where analytical outcomes are delivered on the shop floor with clear actionables for the blue-collar workers on the shop floor. Thirdly, we have a unique integrated and layered approach to industrial analytics and application of AI where we connect supply chains, industrial IoT and operations together. Finally, we take a very holistic approach with the ability to model external factors into operations, such as, supplier behaviour, quality and delivery behaviour.
Can you tell us more about ‘Bodhee’ – the predictive technology solution by Neewee? How will this technology help the manufacturing industry grow?
Bodhee® looks at the manufacturing value chain as a set of subprocesses which are interconnected to produce an outcome. We create a digital twin of each of these sub-processes and connect them all the way upto the final outcome, thus, helping us to understand the non-linear and interdependent behaviour of manufacturing as a whole. Once the process digital twin is created, based on the current status of the WIP product, Bodhee® starts providing the actionable predictions at the end of the line as well as at each of the upcoming workstations. This approach works for discrete, processes as well as batch manufacturing.
How receptive are Indian companies to other digitalisation technologies offered by Neewee? Do you see a growth potential for these technologies in India?
Any manufacturer’s decision to adopt digitalisation is with a clear intent of impacting the outcome. Methods, such as, digital twins, prescriptive prediction, etc. are a means to achieve these goals. So far, we do not see any challenge in terms of adoption of these new technologies. In fact, our clients have been very receptive, as long as we can explain it in terms of value relevant to them. I think, while looking at the pace of adaptation of technology, we see companies being very open to adopt innovative approaches.
What have been some of the major achievements of your company so far? What are your long-term and short-term goals? Do you have any plans of expansions?
During the first few years of formation of our start-up, we spent our time working on building our product based on our philosophy that – analytics has to create an impact directly on the shop floor. Over the past year, we have been actively approaching the market and have seen a lot of diverse industries adopt Bodhee® with significant impact on their operations. Recently, we also concluded our Series A fundraise of USD 4 million. In the short-term, we are focused on consolidating our presence in Europe and Indian markets. Over the next 12-18 months, we intend to expand into North America and Asia Pacific markets.