NEWS

True North unveils fully-owned subsidiary in Bengaluru

By VARINDIA - 2018-01-19

True North has launched “Actify Data Labs”, a 100%-owned subsidiary, a company focussed on providing solutions to companies based on its vision of 3As, i.e. Analytics, Algorithms and Artificial Intelligence. Based in Bengaluru, the company is the first to transform businesses by helping them make smarter and faster decisions by using data.

According to the company, Analytics, Algorithms and Artificial Intelligence are expected to transform every business and represent a tremendous growth opportunity. Actify Data Labs is already working with True North’s portfolio companies and is helping them leverage the transformative power of 3As and build internal capabilities. Actify Data Labs is also investing heavily in research, innovations and development of product platforms. The company plans to build robust product and services business in India and external markets, and nurture partnerships with global research and academic institutions.

Commenting on this, Vishal Nevatia, Managing Partner, True North, said, “Massive advances in computing power, automation of work, inexpensive data storage and digital access is providing unprecedented and rich digital footprint of customers to use 3As – Analytics, Algorithms and Artificial Intelligence. All businesses should in a very responsible way use this data to empower customers and improve the customer value proposition. We believe that Actify will be a key enabler in this transformation to help companies make faster and smarter data-based decisions.”

Actify Data Labs will be headed by Hindol Basu, who has been rated among the “Top 10 Data Scientists in India (2015)” and led the analytics practice within the Tata industries analytics division, prior to joining the company. He brings rich experience of about 16 years in Analytics Consulting advising clients in India, Asia-Pacific and North America in financial services, manufacturing and retail. He has pioneered the credit bureau analytics for the Indian market and developed the first set of credit bureau scores for CIBIL.

Anand Narayan, Chief Digital Officer, True North, said, “With the advent of digitization and automation, it is imperative for every organization to leverage the power of Big Data, Machine Learning and AI to survive in the coming years. Within the next five years, we will house the largest and finest data scientists in India, who will work towards delivering comprehensive, cutting-edge solutions to tackle the problems of today and tomorrow.”

Hindol Basu, Chief Executive Officer, Actify Data Labs, said, “Experiences with unicorns in Silicon Valley and interactions with businesses in India have uncovered new learnings and shifts which indicate that, today, technology is no longer just an enabler, but is the epicentre of business. We are seeing the direct impact of 3As in driving customer delight which is also resulting in materially improving top and bottom line of businesses. This is an exciting journey and we aim to be a globally recognized thought leader in data science, machine learning and AI.”