Haryana-based Synergy Labs, an end-to-end cutting-edge technology consulting company specializes in the development of enterprise-grade solutions for fintech startups. The company was started in 2017 to help fintech startups accelerate growth with stable and scalable solutions. During an exclusive interaction with Nitisha; Gaurav Nagariya, Sr. Manager- Product & Business Development, Synergy Labs elaborates his upcoming plans and the agenda to explore the fleet industry.
Kindly explain Synergy Labs and its special offerings.
Synergy Labs is a specialized Artificial Intelligence-based solution provider for security & surveillance, information technology services & consulting.
Our product offerings fall under two main categories; smart & Safe City Solutions such as Traffic Enforcement Systems (red light violation, speed detection, no helmet detection & triple riding violation), and Traffic Management Systems (such as vehicle detection cameras, automated number plate recognition system and Radar-based Speed Display.
Specializes in the development of enterprise-grade solutions especially with applications of Artificial Intelligence, machine learning, cloud computing, predictive analytics, and computer vision for compliance and optimization in hospitality, retail, logistics and warehouse management.
- Intelligent Traffic Management System (ITMS)
- Parking & Guidance Management System (PGMS)
- Highway Management System (HMS)
- Cloud Computing
- Data Annotation
- Data Analytics
- Web & Mobile Development
- Enterprise Solutions
How Synergy Labs differentiate itself from other companies?
A wide range of techniques can be applied to any given problem, ranging from the most simplistic to the most cutting-edge deep neural networks. We have always tried to pick techniques that fall somewhere in the middle of this spectrum: they give us a good mix of accuracy, performance, and superior value. We have seen this applicable in other areas as well including choice of imaging or computing hardware, UI/UX, etc. Another key advantage of this approach is that these are bound to be more robust than the most sophisticated ones or the latest kid on the block approach. Plus, it’s easier to find talent who’s worked with these techniques or solutions and We are almost 1/3rd of the price to these global players which is a major advantage for us.
According to you, what kind of challenges AI-ML industry is facing nowadays? How it can be resolved?
This shift is making the transport industry more aware of the benefits of cloud infrastructure and cloud applications that incorporate ML and AI. The efficient use of AI and ML will ultimately lower infrastructure costs and time-saving. It is anticipated that India will be one of the pioneers in driving this change. Once inconsistencies like the skill gap and the initial reluctance are left behind, the potential of AI/ML will be crowned kings of the technological world leading to a significant revolution.
How was the business in the year 2020-2021 and what will be the future marketing strategy?
It is undeniable that the Covid 19 Pandemic was a crisis that was never before experienced and equal in scale to the World Wars that disrupted the world in the last century. It has been an especially bad year for the global economy and by extension, for businesses. As a result, some industry experiencing mass layoffs and hiring freezes, while the IT/ITeS segment has been growing because it is experiencing rapid digitization. It can be said that the pandemic expanded the scope and understanding of these new technologies. The pandemic has forced us to rethink the way we operate as an organization and to evolve from traditional working models to more digital ones. As most of the team members were working from home, investing in a digital workplace model was critical to continue providing the service we are known for.
Which industry do you cater to the most and what agenda you are taking for the coming years?
Artificial Intelligence (AI) and Machine Learning (ML) have become the technology anchors for problem-solving for businesses whether it is retail, banking, insurance, healthcare, or even sports. These technologies have changed the way businesses are being run through a reduction in operating cost, improving efficiency, and increased efficiency. One of the upcoming areas where the latest technologies have been successfully implemented is the transport industry which is plagued with issues related to traffic congestion, unexpected delay, and routing problems leading to mental and monetary loss to all the commuters.
ITMS software suite leverages advanced techniques in Artificial Intelligence & Machine Learning that adds an intelligent layer to standard IP cameras. This allows multiple kind of violation detections & help generate alerts for the same. In addition to this, data visualization layer help traffic authorities understand ground situation and trends across the city like never before, enabling traffic authorities to plan and take pre-emptive actions.
Is there any new development or collaboration you are planning? Kindly share.
As the world becomes more unpredictable, harnessing AI/ML is the best bet to navigate through the onslaught of any eventuality and have better chances at not just sustaining but growing the intelligent traffic management ecosystems. The efficient use of AI and ML will ultimately lower infrastructure costs and time-saving and we are also in talks with partners in Bahrain and Dubai to have better coverage in the Middle Eastern markets.
Any new project you are planning to introduce? Explain.
We are working on smart Fleet Solutions and this system will offer the coordination of numerous transport-related activities such as vehicle tracking, fleet replacement, and life cycle management, vehicle maintenance, safety and fuel management, accident-related repairs, and insurance details in real time.
Kindly highlight the emerging trends in predictive maintenance.
In the current system of predictive maintenance, diagnostics are slow and imperfect and repairs are complicated, with many easy-to-miss steps with interdependent systems. The new system will offer most likely repairs for a given symptom/DTC (diagnostics) Connect technicians to the relevant parts of manual for given repair to guide them step-by-step through unfamiliar resolutions (process guidance), as well as Parts supplier, creates a data-driven diagnostic product to offer to OEMs / dealerships / distributors, that they in turn equip their front-line technicians and Increased in diagnostic accuracy detects true fault causes at a more rapid pace, preventing incorrect repairs/claims.