Infibeam Avenues Ltd, a listed fintech company, has christened its AI-Hub based at GIFT City, Gandhinagar, as 'Phronetic.ai.'
“We take great pride in announcing the christening of our AI-Hub at GIFT City as Phronetic (www.phronetic.ai). The nomenclature is inspired by the ancient term Phronesis, signifying practical judgment, wisdom, and prudence relevant to practical action,” said Mr Vishal Mehta, Chairman & Managing Director, Infibeam Avenues Ltd, in his LinkedIn post.
Elaborating on the choice of the name ‘Phronetic’ for the AI-Hub, Mr Mehta further writes in his LinkedIn post “This choice mirrors our overarching mission—proficiency in discovering optimal solutions for the common good. The brand name Phronetic; perfectly aligns with our mission, work philosophy, and business purpose. By leveraging Artificial Intelligence, Phronetic.ai will strive to develop the capability to find the right answers/solutions for the common good, guided by practical wisdom.”
In August, Infibeam unveiled its intentions to establish India's first AI Hub at GIFT City and initially focus on fintech and the financial sector, with the development of AI solutions for Fraud Detection, Authentication, and Risk Identification (FAR). Infibeam’s objective is to nurture the growth of the AI ecosystem, generating solutions tailored for both domestic and global markets.
“We aspire to establish a dynamic and expansive Phronetic.ai, where Infibeam's in-house AI team will collaborate with counterparts from various AI and Tech companies under one roof. This collaborative and synergistic environment is designed to foster innovation. Simultaneously, we are committed to providing a comprehensive support system to other AI and Tech companies, nurturing their growth and empowering them to thrive independently. This collective effort is dedicated to contributing to a thriving AI ecosystem within Phronetic.ai,” Mr Mehta said in his LinkedIn post.
As per him, Phronetic.ai stands on the cusp of revolutionizing the landscape of Artificial Intelligence (AI), and his company is committed to delivering AI-enabled solutions for Fraud Detection, Authentication, and Risk Identification (FAR), commencing with the Video Intelligence Platform to empower our clients.
Disclosing the company’s next move on his LinkedIn post, he said that the company is soon coming up with its first AI product – Theia, a Video Intelligence Platform designed to facilitate commerce and payments with transformative technology that incorporates AI-backed Fraud Detection, Authentication and Risk Identification (FAR).
“Our products are tailored to meet the inventory management, fraud detection, and prevention requirements of both small and large retail establishments. This AI-enabled Video Intelligence platform will additionally empower suppliers, such as FMCG companies, to fulfil retailer's supply orders through automated processes,” he explains.
Infibeam Avenues Ltd. is a top-tier global fintech company that provides advanced digital payment solutions and enterprise software platforms to businesses and governments worldwide. The company has recently forayed into Artificial Intelligence (AI) space.