An American startup that engages several experts in the face analytics, bio-demography, health, ageing and data sciences to give accurate predictions is now keen on launching its operations in Andhra Pradesh.
One of the finalists for the $1 Million Startup Challenge being conducted by the State government, in collaboration with DCF Ventures, Lapetus, the US-based life event solutions company, wants to explore the opportunities in the bank and insurance sector.
We have integrated science and technology with machine learning tools and platforms. This is aimed at event prediction replacing traditional risk analysis, Amrutha Sethuram, lead modelling & algorithms, told The Hindu on Wednesday.
Based on face analysis, Lapetus provides the diagnosis on BMI calculation, estimated age, gender and smoking indication. The firm is also capable to find out the difference in one s online and offline behaviour.
Sensory analytics
Combining life event sciences and sensory analytics, the startup wants to gain foothold in the huge Indian market where fintech is growing at a fast pace.
Our analysis is useful for banks and insurance companies and the diagnosis can minimise the risks. We are also planning to use artificial intelligence and machine learning for multiple applications to prevent various irregularities in the fintech sector, Ms. Sethuram added.