As the time goes by, there are multiple leaps and discoveries being made in the realm of science and technology. Everyday there are processes and discoveries around the world about the different branches of science like ecology, biology, medicine, and computer science. Computer science as a whole has so many aspects even though it is already a branch of science. In a way, computer science encompasses IT or information technology too. Another branch of computer science that often tries to make revolutionary discoveries and researches is the AI or Artificial Intelligence area.
For a lot of people, AI is both terrifying and amazing. Artificial Intelligence entails that a machine is able to simulate or copy the intelligence of a human including its thinking processes and problem solving skills. For many, this is amazing because artificial intelligence could very well be a key to many of the puzzles that man aims to answer. They see artificial intelligence as a way of humans evolving and something that humans can use in order to improve society and make it better. However, for some people, it is terrifying as giving a machine human-like intelligence could go wrong in many ways and post-apocalyptic movies and books have given people enough warning.
Nevertheless, artificial intelligence by itself is not inherently evil. A lot of the researches and projects in the area of AI being done are focused more on how it can help improve the lives of humans. If these researches and projects come to fruitful efforts, then companies see this as a good opportunity and business. This is why there are still a lot of venture capital firms that invest in such start-ups.
One notable financing project is the Hindustan Petroleum Corporation Ltd or HPCL?s investment in the Tranzmeo IT Solutions Pvt. Ltd for their AI product, the T-connect OneView or the artificial intelligence-powered conduct that they had been working on. Tranzmeo IT Solutions specializes in creating software products that are machine learning and AI-based for other start-ups and companies. The product that HPCL invested into, the T-connect OneView, can predict anomalies and study machine behaviour through streaming real-time machine data. For impact energy industries, such software will be extremely useful for them.
Despite artificial intelligence being a difficult area to wade in especially in businesses, there are still other firms that also offer AI-powered products. One of them is SenseTime. SenseTime uses artificial technology and also specializes in facial recognition technology. It provides its technology to multiple companies like Huawei Technologies Co. Ltd., and Xiaomi Inc. Argo AI is also another company that utilizes AI for their product. They use AI in order to create and develop self-driving vehicles, which is arguable one of the most challenging things to apply in terms of science, technology, and AI. Nevertheless, Tranzmeo still stands out due to the niche upon which its software can be applied to. Despite all these competitors, Tranzmeo is seeing a good year. Despite being founded only back in 2017 by Safil Sunny, it has already captured the attention of VC firms like HPCL, enabling it to be able to raise pre-seed funding.