Leading financial business Infibeam Avenues has unveiled THEIA, a ground-breaking video artificial intelligence (AI) development platform. This action follows the Reserve Bank of India’s (RBI) recent final approval to function as a payment aggregator via its reputable payment gateway brand, CCAvenue. By utilizing AI video analysis across several industries, THEIA seeks to transform corporate operations and promises increased labor efficiency, productivity, and data-driven decision-making.
Credits: Media Brief
Empowering Organizations with THEIA:
THEIA offers a robust solution for organizations seeking to harness the potential of AI video analysis. The platform’s versatility extends to applications in sports analytics, media optimization, traffic management, crowd control, insurance claims processing, manufacturing unit optimization, and more. It boasts a sophisticated video processing module that utilizes in-house AI models to identify and select the most relevant key frames.
Autonomous AI Agents for Custom Solutions:
One of THEIA’s standout features is its use of autonomous AI Agents. These agents have the capability to select the appropriate computer vision or language models to address user queries effectively. This dynamic approach ensures that the platform can adapt to diverse business needs, providing tailored solutions for each scenario. The video understanding module of THEIA delivers a standardized output interface, making the data accessible for downstream applications to build upon.
Rajesh Kumar SA on Video Data Transformation:
Rajesh Kumar SA, CEO of Phronetic.AI, an AI business unit of Infibeam Avenues, emphasized the transformative power of video data beyond security applications. He stated, “Beyond security, videos will now serve as powerful tools for enhancing productivity, workforce efficiency, and decision-making across businesses, government entities, and organizations. The era of video data transformation has begun.”
Open Invitation to Developers and Experts:
Infibeam Avenues plans to open THEIA for organizational subscriptions by the end of Q1 FY25. Currently, the company has initiated a six-week open invitation to app developers and experts, including data scientists and machine learning (ML) experts, encouraging them to explore and provide feedback on the platform. This collaborative approach underscores Infibeam’s commitment to refining and expanding THEIA’s capabilities through diverse perspectives.
Infibeam’s AI-led Surveillance Capabilities:
Infibeam Avenues has been proactive in developing AI-led surveillance capabilities, evident in its strategic investments. The company is a stakeholder in two AI surveillance startups, Staqu and XDuce. XDuce specializes in building AI solutions for businesses to optimize customer-facing systems, while Staqu operates Jarvis, an AI-backed video analytics platform designed for law enforcement agencies. These investments highlight Infibeam’s commitment to advancing AI technologies across various domains.
Chairman’s Vision for Video Data Usage:
Vishal Mehta, Chairman, and Managing Director of Infibeam Avenues expressed the company’s intent to go beyond conventional uses of video data. He stated, “We’re here to change the game, enabling organizations to use video data for business purposes and not just forensics.” This forward-looking vision aligns with the company’s dedication to innovation and leveraging emerging technologies for practical business applications.
Financial Performance and Growth:
Comparing the December quarter of FY24 to the same quarter in FY23, Infibeam Avenues reported a significant 64% increase in consolidated profit after tax (PAT), to INR 42.1 Cr from INR 25.7 Cr. The holiday season’s high demand and the growing number of retailers utilizing the CCAvenue payment system were blamed for the profit spike. Operating revenue increased by more than double to INR 912 Cr in Q3 FY24 from INR 414.7 Cr in the same time the previous year.
Possible Impact on Businesses:
THEIA’s implementation might fundamentally alter how companies in a variety of industries conduct business. Organizations may improve overall efficiency, optimize operations, and strengthen their decision-making processes by using AI video analysis. The platform’s flexibility to adapt to a wide range of applications makes it a useful tool for companies, governments, and other organizations looking for creative solutions.
Conclusion:
The introduction of THEIA by Infibeam Avenues represents a critical turning point in the incorporation of AI video analysis into corporate processes. The platform’s dynamic features demonstrate a dedication to technological advancement, as does the company’s strategic investments in AI-led surveillance firms. THEIA has the potential to completely change how businesses use video data for revolutionary purposes as it develops and becomes more popular among companies. This might usher in a new era of efficiency and data-driven decision-making across all industries.
