The IoT industry has gained momentum in its application within numerous arenas and appliances. This universal applicability has made IoT a quintessential part of the incessant technological development. One innovative idea of combining IoT with Artificial Intelligence and Cognitive Science to develop predictive information has been conceived by neurIOT.
Based out of Los Angeles, CA, the company builds solutions which possess human-like intelligence that employ AI and IoT. The organization strives to deliver the power of prediction to the common man driven by the tremendous hunger to know the future. The complexities of Data Science and AI, and how they can aid businesses is simplified by neurIOT by visualizing itself as the provider of prediction solutions to these businesses and other entities.
neurIOT’s solutions may be applied across various sectors and industry disciplines such as retailers, manufacturers, life science, semi-conductor companies, police departments, recruiters, and anyone wanting to know the future, has historical data and perspective to help build such a solution.
Redefining Innovation
neurIOT’s first set of offerings are targeted towards manufacturer/distributor/retailer segment. The organization has three prediction solutions employing Machine Learning (ML) based algorithms for the entire supply chain. Although such solutions are already existent, the way in which neurIOT makes a difference is in the use of Machine Learning and incorporating a host of external parameters such as weather patterns, events, and social media among others.
The second set of solutions predicts demand to the manufacturer from distributors, again leveraging ML based techniques. Whereas, the third solution predicts input costs for the manufacturer. Comprehending that cost prediction is far more complex and involves bringing in a host of different other parameters, the organization considers this triad of ML based offerings as significantly better and different from traditional solutions and can bring about very high level of business process optimization.
The second set of offerings is targeted towards police departments across the US. These solutions are being offered through the company’s other venture called Predictive Police Solutions Inc. The first solution herein, is for academy recruitments. This solution uses ML approach to predict hiring outcomes for police recruitment process. Four sets of predictions here include Selection for Academy, Success in Academy, Success in Field Training and Good Hire/High Risk Hiring. Second solution is a machine learning model built using past crime data which helps identify a criminal for next reported crime.
Exemplary Leadership
neurIOT is comprised of a team of three founders, Sanjeev Thukral the Managing Partner, Founder and CEO; Lynn Jervik, the Head of Business Development; and Anil Kalra, the Head of Semiconductor BU.
Sanjeev has been an avid technocrat, who has built and run different businesses over a 25 year career span. In the last seven years, he has been deeply involved in development and selling of AI and IOT solutions for customers across US, Europe and Asia. His ability to combine business strategy, technical expertise, industry knowledge and sales experience helps him drive this business from the front.
Whereas, Lynn is a seasoned IT professional with vast knowledge of implementing transaction based computer systems in finance and retail industry. Anil is a semi-conductor expert, who brings a very different flavor to the mix. He leads the company’s efforts towards employing IOT and semi-conductor knowledge while solving business problems.
Rendering Excellence
neurIOT’s strength lies in Cognitive science and the diversity of its team including a very diverse senior management. The company not only has Data Scientists but also experienced retailers, lifetime ERP consultants, an ex-Police Official, a life-time semi-conductor expert among many others in its team. “It’s important to bring business context to a Cognitive Science problem, to be able to connect with common business issues, and there lies our strength,” exerts Sanjeev.
By combining the teams’ expertise and applying it to the weather-based prediction model, neurIOT strives to deliver value to the customer. Another instance relates to solving the problem of Recruitment for US Police Department. Its project team has an ex-Police Official, a seasoned IT professional and a Data Scientist. This has helped the company predict hiring outcomes for the police department.
The Leader’s Perspective
While describing his take on the diversification of IoT and AI, Sanjeev states, “I already see very fast pace of adoption of Cognitive Science in the industry today. This has been possible due to much higher level of accessibility and maturity of this technology now. In very near future, I can see Cognitive Science as one of the key components of any organization’s business operations. Distributed AI is the next big thing. What’s happening now is AI coming to the EDGE. We’ll soon find ML computer devices, Sensors and Actuators bundled together accomplishing specific tasks at EDGE level.”
Envisaging New Horizons
The company looks at neurIOT as a mothership of AI, solving common business problems across diverse business verticals. From this mothership, it plans on spawning vertically focused businesses. One such example is its venture, Predictive Police Solutions Inc, which is focused on solving key issues confronting Police Departments across the US, using AI and ML. In the future, the organization foresees Retail & Distribution, Life-Sciences and Semi-conductor as other similar business verticals. These are the areas where it is already solving some very compelling problems.
neurIOT is currently focused on the US and Indian markets, where it has business entities. The company’s roadmap also includes building SaaS variants of its AI solutions, which are enabled to handle other geographies including Europe, Australasia and the Middle-East.
Source :-The 10 Most Innovative Cognitive Solution Providers 2018
