Tell our readers about Ennoventure and your professional journey.
Ennoventure Inc is a unique SaaS platform for brand authentication and engagement across a variety of industries, including FMCG, Pharmaceuticals, Agro-Chemicals, and Luxury Goods. Ennoventure has devised a strategy to address issues arising from counterfeiting in a variety of businesses by envisioning a non-disruptive solution for verifying product authenticity without having to change the client’s existing package design and printing process.
Our anti counterfeit solution adds an invisible cryptographic signature to the packaging and leverages AI and blockchain to deliver a connected packaging experience through smartphones.
Shalini V Nair is the Co-founder and Board Director, Ennoventure Inc. An IIM Bangalore alumnus, she has over two decades of experience in cutting-edge technology in the IT and services realms.
She founded Ennoventure with the intent of leveraging AI, blockchain and cryptography to guard against counterfeiting and protect both the brand and the end consumer. The holder of multiple IP rights, she previously had stints at Ohile Technologies and HCL Infosystems and currently lives in Bangalore.
We would like to know how technology is empowering businesses in the world, especially in India
According to a new McKinsey Global Institute analysis, a dozen technologies, ranging from mobile Internet to cloud computing to advanced genomics, could have a combined economic impact of $550 billion to $1 trillion per year by 2025. There are various categories within the Indian business sector that are shifting towards digital platforms. Education, eCommerce, energy, agriculture, health, finance, and many more sectors are using tech solutions to solve many stopgaps that hindered growth earlier.
For example, Ennoventure’s technology allows businesses and customers to stay on top of counterfeiting concerns and customer engagement. A simple addition to the technology base can help accelerate growth by building trust and cutting or eliminating losses due to counterfeiting. Their solutions are currently applied to pharma, FMCG, and other industries, but they see it as an essential component that will aid growth in other sectors too.
Throw some light on how SAAS platforms are helping business growth
SaaS platforms are the best fit for growing businesses, especially in the tech space. A SaaS based model allows for agility, reduced costs, flexibility, and collaboration.
Cloud-based SAAS business apps are in high demand, as they are priced on a subscription basis and provide a clear set of business benefits.
Traditional apps are gradually being phased out of many firms’ IT plans. Many business managers prefer SaaS solutions because they offer the flexibility of speedy implementation and a wide range of capabilities at a lower investment risk. IT departments pick plug-and-play SaaS solutions because they are the ideal fit in this instance. Companies are constantly looking for solutions that can meet organizational requirements with data security as a top concern.
Help us understand how technology can address the alarming issue of counterfeiting in India across sectors
India’s internet and smartphone penetration has reached an all-time high, indicating that an increasing number of Indians are keeping up with the most up-to-date and accurate information. In truth, there are several sticker-based solutions on the market that lack transparency and reliability.
We would like to know your opinion on the future of AI, machine learning, and what’s next in the field of technology
The future is going to be heavily reliant on technology. All new leaps and growth across sectors are dependent on innovation and disruption coming from the tech space. AI and ML are already making waves by revolutionizing computing, finance, operations, even marketing, besides many other processes.
For example, according to a recent Accenture study, AI can add US$957 billion (15% of current gross value added) to India’s economy by 2035. India’s future of work tech solutions, as a market, is growing very rapidly, and will soon add more and more value to the businesses that are being built on tech across industries.
Even small businesses stand to profit from the digital migration to bring out the best parts of various business models, while eliminating traditional parts that might weigh down the growth of companies. The next big thing as such can be described as a collective move to tech-based platforms, keeping in mind the unlimited potential of such spaces.
This interview was authored by Vishwasjeet Singh, Editor-in-Chief, Estrade Business News. To share more stories kindly email: firstname.lastname@example.org