Marat Karpeko, Founder of InData Labs, discusses his journey and role at the company with SafetyDetectives. He emphasized their expertise in AI, data science, and generative AI. InData Labs offers AI consultancy and cloud-based solutions, focusing on the transformative power of AI and machine learning for businesses.
Marat highlights key trends in data science, such as generative AI, IoT, and data analytics, which are shaping the future. He suggests careful partner selection, competitor research, and thorough consulting when integrating AI and NLP into existing systems.
Can you talk about your journey and your current role at InData Labs?
My career took off in 2004 when I was working in the position of Chief Operations Officer in the video gaming industry. Since then, absorbed in the technology’s power I took a steady interest in the growing popularity and capabilities of AI. Artificial intelligence was still gaining momentum in those days and I realized that this would be the way for businesses to fight against tough competition and advance their services. Integrating AI into the business processes as well as people’s day-to-day life held immense potential and was bound to improve both.
That’s how InData Labs was founded in 2014 with its major focus on AI-based solutions. Ramping up multiple businesses through the decade, we’ve accrued our expertise in the field and currently address complex business challenges through such technologies as data science, natural language processing and generative AI, computer vision and Big data analytics.
I am currently mostly in charge of the general management of the company. This requires taking responsibility for the strategic development, financial stability, and long-term vision of the company. I value that my position in InData Labs allows me to see the broad perspectives of the market and the company and set new goals in the direction of the most promising rising tech trends.
What are the main services offered by InData Labs?
InData Labs was first founded as an AI development company bringing the power of AI to businesses. We have built a strong team of professionals and can boast solid AI consulting expertise for businesses of all sizes. Providing AI consultancy services, we aim to let companies explore their AI-related capabilities and the perspectives of implementing AI-based solutions for their businesses’ specific needs and goals.
Additionally, as a certified AWS partner, we are well-versed in building smart solutions based on the cloud. At InData Labs, we build custom data solutions that help our clients digitize and future-proof their businesses with the power of high-tech. We have been repeatedly recognized by Clutch a few years in a row as the top AI and data science partner.
Nowadays, we are placing our focus of effort and innovations on generative AI and GPT-based digital solutions in particular. This accounts for the ubiquitous rise of these LLM technologies and their ever-increasing importance for digital transformation and business growth in any industry. By 2025, generative AI will account for 10% of all data produced, up from less than 1% in 2021. The numbers prove the necessity for further AI development and implementation on-site.
We help businesses realize the real benefit of AI adoption for their business specifics – workflow automation, cost reduction, enhanced customer engagement, increased production volumes, advanced security, and many others. I shall stress that typically the benefits come in combination and our clients see the advancements in the directions that they did not expect to improve.
How can businesses leverage machine learning to improve their decision-making processes?
Surely, there are boundless ways for a business to benefit from machine learning adoption. First, it allows us to visualize the company’s Big data. Unstructured data, if overlooked and left unanalyzed, becomes useless and can not bring value to the business. However, with ML-based solutions, one can turn raw data into valuable insights and make informed decisions upon them. This allows companies to use their experience and existing data to their advantage and evade possible mistakes.
What’s more, a marvelous feature of machine learning is that it can forecast future outcomes based on the input data. This has made it an indispensable tool for those who want to be ahead of the curve and surpass their competitors in the market. By implementing solutions with predictive analytics, one can anticipate future trends, fluctuations in price, sales and demand as well as reveal anomalies.
I can’t but mention the rising importance for business automation of ChatGPT and other LLM based solutions for any business. Virtual assistants, smart text analysis, generation and translation, chatbots, and many more – all of them hold the potential to drive the company’s growth in a variety of directions. You get mundane tasks done automatically, optimize processes, streamline communication within the company or with clients, and improve customer engagement and satisfaction. As a result, most companies that took advantage of our Generative AI solutions could observe the substantial positive effect of its adoption on their business, reputation, and customer service.
What are the key trends and advancements shaping the field of data science today?
No doubt the tech as well as data science landscape is changing with astonishing speed nowadays – new trends and technologies arise and develop with lightning speed. InData Labs data science team stays aware of the most promising trends for the near future and what is worth adopting for businesses to gain real benefits.
At the fore of the picture we observe today stand generative AI and the integration of ChatGPT in the existing systems, the Internet of Things (IoT) and data analytics. Let me brief a word about each of the trends.
No doubt that Generative AI is anticipated to bring about an unprecedented technological shift in history. We can see the numerous proofs for it. For instance, lots of our current and potential clients recognize the value of integrating Generative AI in their business workflows and reach out to our team with these requests.
Gen AI’s adoption has already proven to improve productivity and customer satisfaction, as well as enhance overall business operations.
Moreover, all industries are experiencing transformation with Gen AI development. It is already used for product development in manufacturing, predicting protein structures in healthcare, uncovering investment insights in finance, responding to customer inquiries, streamlining shopping, and retaining customers in retail – and it’s only a tiny drop in Gen AI’s capabilities. We at InData Labs realize the potential of the technology and do our utmost to let our clients enjoy its power to the fullest.
As for ChatGPT, it is an example of generative AI, a generative language model. Since November 2022 when it was launched, it has shaken the whole world for a reason. Its groundbreaking algorithms are able to generate impressive human-like writing. Its ability to summarize and give accurate responses can be leveraged for a variety of purposes to enhance efficiency of any business.
The Internet of Things is another trend worth mentioning. This technology is pervasive and is being used in many industries aimed at implementing automation and connectivity. In combination, they bring about multiple benefits – efficient operation management, cost-effective operation, improved work safety, and better use of resources and assets.
The technology has also proven its efficiency and importance for the whole humankind, from day-to-day conveniences (enhanced security, smart homes and wearables) to increase in industry performance (optimized agriculture, retail, logistics) to more farsighted benefits (higher quality of healthcare services and environmental monitoring for fighting environmental issues).
The trends I have mentioned play a crucial role in driving innovation and are bound to shape the near future with the focus on sustainability. That’s why, our team places a particular focus on accruing expertise in these spheres and helping our clients take their businesses to a new level and soar above competition.
What are some potential applications of Generative AI beyond content generation that you find particularly promising?
I must stress that today’s capabilities and applications of Generative AI are numerous, while the future will see an even greater increase in its potential. Definitely, Generative AI in combination with Conversational AI is transforming customer service with smart virtual assistants. It uses the vast knowledge built on training of external knowledge assets, such as databases, search, and custom scripts to mimic human-level conversation and generate accurate responses.
In Healthcare, it helps provide personalized care and hastens drug discovery. Bankers leverage Generative AI to respond to clients’ inquiries, facilitate compliance management, and forecast future outcomes. In Manufacturing, it allows for creation of customized products and facilitates rapid prototyping, internal database chatbots provide instant answers to specific queries. It also helps retailers suggest new or alternative products to clients as well as anticipate their future needs and thereby improve the shopping experience. Educators can benefit from the technology too, as it can create personalized and interactive learning content and generate simulated environments for immersive learning experiences.
All in all, each sphere can take advantage of Generative AI and boost business growth thanks to many enhanced aspects. Firstly, here comes the automation of workload – the obvious benefit you get from the outset. With automated tasks, you free up your employees from monotonous work and let them focus on more complex tasks. This, in turn, increases the productivity and performance of the whole business. What’s more, algorithms unlike humans can function 24/7. Its round-the-clock availability allows for faster problem-solving, reduced downtime, and better customer engagement.
What advice would you give to organizations looking to integrate AI and NLP into their existing systems or processes?
There is no doubt that no matter how promising and beneficial one technology can be, the ultimate result depends on how one approaches its adoption. I will mention the most common mistakes businesses might make on this path and a couple of tips for evading them.
The first and foremost aspect is choosing the right partner. Currently, there is a wide choice of service providers sifting through which can turn out a challenging task. At this point, it is crucial to analyze every aspect of your would-be partner – expertise, portfolio, reviews, range of services provided, completed projects, and their approach to delivering projects.
The partner you are looking for should have deep expertise in your technology of interest and have some worthy relevant projects delivered. It would also be great to understand whether they take a forward-thinking approach to building solutions if you want your product or software to be future-proof.
I must add that you are bound to boost your chances for success if you have thorough competitor research done. Analyze the products and services of your big competitors and find ways to differentiate your business to create more revenue.
And, certainly, do not overlook the consulting stage as it forms the foundation of a solid and successful solution. The right AI and GenAI provider will surely put particular stress on it to make things right. At this stage, it is essential to conduct the project’s feasibility study to point it in the right direction and get a holistic view of the potential benefits, disadvantages and constraints that could affect its outcome. We also conduct infrastructure analysis for smooth solution integration, clean and consolidate data as well as work out a comprehensive roadmap for the product’s implementation.
If you make sure to consider these aspects before you turn to the development stage of your AI or Data Science solution, I’m sure the outcomes will pay off in remarkable volumes.