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Artificial Intelligence startup wave. Is it real?

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While running a digital marketing agency, Neerav Parekh regularly updated his clients on their campaign performance with reports and charts that were carefully put together.
However, the clients were quickly snowed under the blizzard of data, and inevitably demanded that account managers personally visit them and take them through these reports.

This was a laborious process and, rather than plod through it repeatedly, Parekh, a serial entrepreneur, turned to artificial intelligence (AI), the science of trying to make computers think and act like humans, for a solution.

His product, Phrazor, is aimed at automating the process of interpreting data and communicating insights. Having used Phrazor for his agency, Parekh has now sought to extend the reach of his product.
"I realised its enormous potential to change the way data was understood not just in digital marketing but in every other sphere where data was being presented," he says.

"Every company has to send performance reports to its employees or customers. The focus of our venture is to help companies communicate the insights in their data to their people at scale."

For his 14-month-old firm vPhrase, Parekh has ambitious targets he eyes companies not just in India but also in the US and targets to be in the rest of Asia and Europe in three years. "There is a huge opportunity both in India and in other countries in the analysis and interpretation of data," he adds.

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