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Marat Karpeko, InData Labs: “companies accumulate large volumes of data without an understanding of how to put it to good use”

Every business comes with specific needs that may not be that easy to fulfill. Luckily, solutions powered by artificial intelligence, like those offered by InData Labs, are already solving even the most complex challenges.

It’s only natural, that the Cybernews team contacted Marat Karpenko, a veteran of the field and Founder of InData Labs, who strongly believes that AI has superpowers that humans don’t, and in order to build an efficient business, make our world better and reduce the impact on the environment, all industries should start preparing an AI implementation strategy for their organization.

Today, Marat will take us through the possibilities and benefits of modern AI-powered solutions and will share his thoughts about what industries will benefit greatly from them in the near future.

What has your journey been like since your launch in 2014? How did the idea of InData Labs originate?

My journey began with the video gaming industry where I have acquired a broad experience in gaming development. While working, I had a chance to witness the huge potential of AI ​​& data science for creating unique products and offering supreme CX, thus, taking businesses to the next, unprecedented level.

So in 2014, I decided to bring the years of my experience into an AI company that would help global companies of all sizes to drive their business transformation and leverage top-notch technologies for the business’ success. Since then, InData Labs has built a strong team of data scientists, architects, and engineers, and has accumulated valuable expertise in developing custom AI solutions and implementing modern data architectures with a focus on specific business needs in various domains.

Can you introduce us to what you do? What technology do you use to make data science easier?

InData Labs’ mission is to partner with our clients in reaching their business goals and helping them digitize. We deal with lots of AI business use cases from different industries: data collection & analysis, anomaly detection & fraud prevention, predictive maintenance, customer churn prediction, marketing campaign & ads optimization, customer segmentation & customer sentiment analysis, etc. Our custom AI-based solutions automate business processes, enhance customer experience and loyalty, increase conversion rates and reduce costs.

Our key expertise:

  • AI & Data Science
  • Big Data Engineering, Architecture Consulting, BI Analytics
  • ML & Predictive Analytics
  • Natural Language Processing
  • Computer Vision

Where do you hope to see AI-powered solutions be used more often in the near future?

Machine learning and AI have superpowers that humans do not have, and all industries should use them to upscale their business as well as make our world better and reduce the impact people make on the environment. I hope to see more AI-driven solutions in the healthcare and pharmaceutical industries in the near future that will help us respond proactively to any viruses and prevent the COVID-19 scenario. The rapid advancements in AI aren't only improving health outcomes; they're also increasing operational efficiency, reducing clinician burnout, and driving significant cost savings.

AI technology is well suited to advance lots of tasks in healthcare & pharma, including:

  • Sensitive data management
  • Diagnosis and chronic disease prevention
  • Medical image analysis for anomaly detection
  • Advanced RWE analytics & drug development
  • Business process analysis, automation & visualization, and so on.

We also see the increase in application and it is in fact very beneficial for businesses to use technological potential in Big data processing for Customer 360 analytics. It ensures offering relevant services/products and is highly personalized with customers reducing waste of valuable time, production, and human resources.

How did the recent global events affect your field of work? Were there any new challenges you had to adapt to?

When the COVID-19 pandemic spread rapidly in early 2020, we had to respond quickly. The main issues for us were:

  • Preventing COVID-19 spread across the company
  • Ensuring the efficiency of the ongoing development projects
  • Facing the challenges of remote work.

The safety of our team is a priority. We took all measures necessary to create a healthy and safe workplace and set up a remote-friendly workflow and flexible schedule ensuring continuousness of the clients’ engagements.

From the business perspective, any crisis promotes digitization and encourages businesses to try out new product ideas. For example, during the pandemic, we accelerated the development of a pose estimation solution for remote injury-free sports. It helps track and analyze human movement or activity. This technology has great potential for both the sports and healthcare industries, can improve fitness and therapy apps as well as it can be widely used for seniors' fall detection in hospitals or at homes.

With the increase in digital customer journeys and changes in customer behavior caused by the pandemic, our clients were challenged to quickly adapt their businesses to the new reality which required us to provide prompt technical support. We were quick in our decisions and offered the best tech solutions to meet the new objectives of our clients.

Besides data science solutions, what other technologies do you think would greatly enhance business operations?

I believe that Big data (data collection, analysis, and visualization) would improve business operations immensely. Organizations can use Big data analytics solutions to make data-driven decisions that can improve business-related outcomes. Big data can be applied to many industries: healthcare and pharma, retail and E-commerce, marketing & ads optimization, as well as fintech, logistics, and others.

Moreover, the implementation of workflow/process automation solutions such as data management software (DMS) and CRM along with similar solutions would be in higher demand. The adoption of cloud solutions such as GSuite, and Office 365 would also benefit businesses by providing a full suite of business tools for everyday operations.

What are some of the worst mistakes companies make when handling large amounts of data?

Big Data is getting bigger every day, and companies face common challenges while handling their data. First, the bad input results in bad output (GIGO concept). Simply speaking, companies don’t have a specific strategy for what data to collect.

Second, they don’t take over data processing and data governance. It means they don’t know what data is processed, how the processing is done, and who is in charge of this task. Some companies can also accumulate large volumes of data without a solid understanding of how to put it to good use.

Others are trying to apply Big Data techniques to operational data which obviously won’t work out (for example, implementing CRM based on a data warehouse or data lake), using the wrong data processing tools, or not paying enough attention to data privacy and safety, and adequacy.

In your opinion, why do certain companies hesitate to implement new and innovative solutions, despite all the technological advancements available nowadays?

Even though AI has the potential to completely transform businesses with a range of solutions, some companies still hesitate to implement AI into their practice. The answer lies in the lack of knowledge of the technology, seemingly high costs of implementation, and the amount of work to be done across the company. Moreover, integrating technology into the company’s infrastructure and upskilling employees takes much time and effort.

Another inhibitor of innovation is the lack of the right AI solutions provider with strong tech expertise, domain knowledge, and good repute on the market. It’s also a barrier to AI adoption across companies.

With the right AI company, businesses can respond to new events more proactively. The AI-centric approach also allows for solving existing business problems faster and more wisely. So it’s critical to find your tech provider that will help you implement an effective AI strategy and will be guiding you through the whole process.

As for the current AI adoption rate, I would say that we’re witnessing the limelight for AI implementation in business. According to McKinsey, 56% of survey respondents report AI adoption in at least one function. Accenture states that 84% of business executives count on AI to achieve their growth objectives. The AI adoption market grows and tech-oriented companies will grow faster provided they remain open to AI transformation.

What kind of threats do you think organizations should be prepared to tackle in the next few years? What security measures are essential in combating these threats?

We live in a world that is volatile, uncertain, complex, and ambiguous (VUCA). For the last few years, we've lived through the COVID-19 pandemic, economic crisis, and political conflicts. We cannot plan beforehand, but we should identify threats and be able to address them quickly.

Sanctions, the loss of partnerships and contacts, the loss or relocation of sources, new markets sprouting up, and more have been shaping the business landscape over the last few years. The only way to keep any business resilient is to invest in analytics. Data analysis can faster spot new opportunities or make predictions, evaluate risks, and invent way-outs from various situations. The key management’s goal is to think up sustainable but agile solutions fast. It should work really fast and with no mistakes to be made.

Data protection has become an essential part of all business strategies, no matter the company’s size. I think that in the coming years, companies should focus on how to protect data and ensure both corporate and client data security.

Tell us, what’s next for InData Labs?

InData Labs sets quite ambitious objectives. We are aimed at strengthening our brand in the AI & Big Data market and helping our clients use the potential of disruptive technologies to advance their businesses through a proactive and flexible approach.

I am also very passionate about helping humans achieve ecological balance. With this mission in mind, I have established a Lemur foundation that aims to help protect Madagascar lemurs and prevent their extinction. InData Labs’ expertise in innovative technologies helps us make a difference and change our lives and the planet for the better.

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