This startup develops powerful weapon against cybercrime with GenAI tech

Many startups are coming up with innovative solutions leveraging cutting-edge technologies. Especially, AI (artificial intelligence), ML (machine learning), data analytics and cloud computing are the areas in which these startups are coming up with new solutions that is enabling enterprises to solve big problem statements. Atomic Asher is such a tech-powered startup that provides AI augmented solutions to enterprises. In a conversation with the Bizz Buzz, Anirudh Asher, Managing Partner of Atomic Asher said that the company has started providing solutions integrating generative AI technology. It has come up with a QR code in the cybersecurity domain that helps users to determine whether it is malicious or genuine QR code, whether there is an URL inside it or not. He said given the rising instances of cybersecurity incidents, users have to make sure they are entering their credentials on a safe website. Similarly, the company has come up with a conversational AI chatbot that helps financial institutions to mitigate cybersecurity risks by evaluating fraud messages. Going ahead, the company will come up with several SaaS solutions in the cybersecurity space, leveraging AI and GenAI

Can you provide a brief overview of Atomic Asher’s operations? What are your focussed areas in technology?

In simple terms, Atomic Asher is a company that inculcates the idea of cross-pollination and implementation of cutting-edge technologies to solve not only difficult business problems but also societal problems. We are in the process of developing cyber security applications and also using good AI applications for enterprises. As far as Generative AI is concerned, we are actually building systems around GenAI for high value offering. So, we are a GenAI-focussed company with AI at its core. We also work with closely on ML (machine learning). We also do app development. We have an application available on both Apple App store and Google Play Store, which is QR Safety by Atomic Asher. This is a free multi-lingual QR code which helps users to determine whether it is malicious or genuine QR code or not, whether there is an URL inside it or not. Because today when you scan a QR code, you don’t know whether it is going to take you to a safe website or a dangerous website. Our app simplifies that process for users. It is also a multi-lingual app which covers all major languages of India and a few of the world. The app doesn’t require any log in requirement and no special permission is also asked. This is our first product open for the public. Though it is not immediately revenue-generating, it is excellent testimony of our capabilities.

Have you implemented any GenAI application or developed any GenAI application as of now? Can you throw some light on this aspect?

We have developed a robust GenAI practice around cybersecurity. We are pitching this solution to multiple financial institutions including banks and NBFCs. Basically, it a chatbot system powered by conversational AI, which has a high accuracy rate of detection and taking messages around scams and scam communication. For instance, as a user in India, we receive three to five scam messages every day. These scam messages look very genuine, asking users to take actions like do your KYC. Our conversational AI can tell the bank user that this is a scam message by doing a complete back-end analysis of the message along with the URL also. So, it is a highly potent application in scam mitigation in today’s date, considering the sheer number of cyber scams happening in our country. This chatbot also helps financial institutions to reduce manpower required to do such checks. Around 70 per cent of the manpower can be utilised elsewhere after using this application. It essentially saves cost and increases productivity. As this application helps organisations to take down that scam, it saves a lot of consumers from falling into the trap of such scams.

Are you in talks with financial institutions for implementation of your GenAI-powered chatbot system?

We are in conversation with many financial institutions for its adoption. We are confident that we will see its implementation soon.

What kind of solutions have you provided to clients in the services space? Can you provide some use cases?

Not only in the product space, we have also assisted many organisations in the services space. For instance, we have assisted this organisation called Soldron. They were facing a problem of counterfeiting. We provide them with a solution like a unique QR code per product. That helps them in cutting down the piracy problems to a large extent. They gain majority of clients and help them in boosting revenue.

Can you throw some light on the revenue model? How big is the team now?

Currently, our revenue model revolves around consultancy, where we make money for our consultancy services. However, we are planning to come up with couple of SaaS products in the near future. We also have plans to provide value-added services to enterprises on our QR code product- QR Safety. This is how we are currently positioned. We are a small team of eight people out of which four are developers and others are in the support system. Our system is very efficient due to use of cutting-edge technologies. That helps us in providing useful and free services to the public without charging anything to the user.

As far as engagement with IT firms are concerned, we will be extremely glad to share our experience with them to take them to clients. We will be happy to provide our expertise to any large corporate house.

Have you raised capital so far or are you boot-strapped so far? Do you have any plans to raise capital in the near future?

We are bootstrapped so far. We have not yet crossed the breakeven point but we are on track do achieve that milestone. As far as raising external capital is concerned, we are open raising capital from VC funds. Our priority now is to focus on the work, which will help build our brand and then raise capital. We will prefer an extremely well-known VC fund house. We have approached couple of VCs on that front. We will announce when anything happens.

How do you see the company’s growth in the next three years? Can you provide some glimpses on your growth plans?

We want to position ourselves as the most robust and cutting-edge AI startup in India, particularly around the cybersecurity space. Because there is a huge gap that exits in India as far as services to common citizens are concerned. Most cybersecurity firms are focussed on large corporates and MNCs. We hope to bridge that gap.