HOUSTON, Aug. 27, 2019 DeepRisk.AI is a risk analysis platform that takes away the risk from investments made by banks. Founded by US-based Software Engineer and Director of Technology at SignaPay, Chaitanya Vaidya, the online platform is the first of its kind end to end risk management platform for banks is powered artificial intelligence technology.
The patented state of the art AI technology transforms data into intuitive text insights, portfolio analytics, and reporting. “We developed DeepRisk.AI to help risk analysts at banks make better decisions with ease,” Vaidya said.
Vaidya, came to the United States on a chess scholarship, stated that he realized that if advances in the tech industry were applied to the banking sector, making calculated investments would become much easier and would prevent huge losses. “It was this realization that led to the innovative inception of DeepRisk in.”
Vaidya’s creation became successful since the very first day he pitched it to a bank in Texas. “In the last couple of months we have already processed over three thousand merchants and DeepRisk.AI is also being considered by some of the top fifty banks in the world,” he said.
So, why is DeepRisk different from other risk analysis platforms? Vaidya, states that it is because the reports are thorough and are in Basic English that is easy for everyone to understand.
The Young entrepreneur and Chess champion believes that there are no limits and he always wanted to invent technology which would be more human than the machine, “this is what makes DeepRisk so special to me.” According to him, technology today is turning us into workaholics.
“We are working longer hours and even harder, because the software and technology we use today especially for risk analysis can only help us calculate the data, from there analyzing it carefully and coming up with a decision based on that analysis is also extremely time-consuming and requires a lot of work. Technology should be able to make this analysis easy for us, not just generate numbers,” he added.
Vaidya explains that in order to have a successful A.I. company, entrepreneurs should focus on creating technology after studying the life of a particular person or profession, figuring out what problems they are having, and using A.I. to solve those specific problems, hence adding the human touch to AI.
“When we created DeepRisk, we actually sat down and studied the life of a risk analyst at work, we met risk analysts and spent time with them at their workplace to understand the kind of problems they faced. This is why DeepRisk is so different, it was made to help make better decisions and that is exactly what it does.”