CHENNAI : ‘Genisights ’ - a start-up founded by an IIT Madras alumnus, has launched a joint vehicle with NRICH Group, a Canadian Trade Body, to target the North American markets for business analytics products, said a statement issued by the institute.
Through this partnership, geniSIGHTS will have access to Canadian and North American markets to develop Artificial Intelligence products for the government as well as business entities.
The market for conversational AI is huge with North America expected to hold the largest market size globally while the Asia Pacific is expected to grow at the highest Compound Annual Growth Rate during 2019–24, said the statement.geniSIGHTS has developed AI-powered dashboard with voice support to enable businesses to process big data. It understands the user’s voice commands and provides intelligence from analyzing data.
Speaking about the importance of this collaboration, Abu Becker, Chief Executive Officer, NRICH Group, said, “We are confident that this joint vehicle would create a huge opportunity to create local employment in Canada and has significant revenue-generating potential.”geniSIGHTS Pvt Ltd was founded by Rajesh Kumar, an alumni of IIT Madras, who brings in extensive global business experience working with Fortune 100 companies in North America and Asia Pacific.
“The joint venture with NRICH would be the driving force for geniSIGHTS to succeed in Canada. We have formulated a clear business plan and our initial focus would be on mid-tier companies and government organizations, among others,” said Kumar.
geniSIGHTS is focussing on North America, European and Asia Pacific markets and expects to capture the business analytics market. The organization has set up its North American subsidiary to fuel this ambition. The founders are planning a fully functional office at Bay Area as well to support this growth.