According to a survey by Cybersecurity Ventures, losses from cybercrime and online fraud are expected to reach $10 trillion annually by 2025, and the crimes are growing quickly within the industry. Since virtual transactions are growing quickly, fraud is becoming a bigger risk, mostly as a result of the COVID-19 epidemic.
Thus, fraud protection becomes essential. At this point, AI Kavach appears in the picture. AI Kavach, founded in 2021 by Pratyusha Vemuri and Girish Nagavarapu, will assist individuals and businesses in preventing fraud. Keep being attentive to nothing. Thus, thoroughly read the entire essay.
The Goals of Pratyusha Vemuri Venkata for AI Kavach
Pratyusha Vemuri is the primary architect and founder of AI Kavach. With a BTech and an MS in Electronic and Telecommunication Engineering, she really enjoys working with and developing innovative products. Vemuri finished her BTech at JNTU Hyderabad in 2004 before going on to pursue her MS in Electronic and Telecommunication Engineering at the University of Toledo, Ohio,
USA. She started working in technical roles at companies like Persistent Systems and Harbinger Systems after receiving her MS. In 2010, Vemuri worked for Microsoft India as a Senior Programme Manager, managing several enterprise products, including Microsoft Exchange. Pratyusha Vemuri swiftly progressed through the ranks to become the Head of Product Identity, Security, and Privacy at Microsoft Cloud + AI. During her time at Microsoft, she managed important security, privacy, and compliance activities.
After spending 14 years at Microsoft, Vemuri felt compelled to leave and develop a product that would satisfy a full-size client requirement. She chose to use her experience working closely on safety and fraud issues to develop an AI-based gadget that completely prevents fraud. Consequently, she and Girish Nagavarapu-based AI Kavach in 2021. C
AI Kavach works as a smart AI helper to protect individuals from fraud. By alerting clients to potential dangers and attacks before any harm is done, the digital assistant guards against fraud. It functions as a kind of private bodyguard. Here are some of the primary advantages of utilising AI Kavach. Personalised fraud indicators are delivered by phone or email. alerts of possible dangers in addition to financial fraud, identity theft, and phishing attempts. AI Kavach employs cutting-edge AI and devices to learn about various technologies and spot trends and irregularities that could indicate fraud.
A person’s digital footprint—which includes social networking, credit cards, and banking—is utilised with the digital assistant’s assistance. to find evidence of potential fraud. Modern algorithms analyse these facts to accurately warn consumers in real time. AI trends are frequently more advantageous and up to date in order to battle emerging fraud patterns. User entry is taken into consideration to increase protection.
Following the highest-caliber second season of the show, AI Kavach raised INR 1 crore with the assistance of Aman Gupta and Peyush Bansal. The founders received high grades from the Sharks for their traction, domain expertise, and future plan. Mentoring assistance was given in return for immediate observation of the company’s growth by Gupta and Bansal.
What Happened to AI Kavach?
Vemuri might invest the money on growing its engineering staff. After boosting up patron acquisition in metro areas at some point, she also plans to focus on Tier 2 and Tier 3 cities. Plans include bank connectors, financial institutions, and e-commerce infrastructure linkages. With the rise in online fraud, AI Kavach’s fraud prevention solution offers customers much-needed security.
The particular response provided by AI Kavach presents a viable strategy for stopping fraud, as it is projected that by 2025, the damages caused by cybercrime would have doubled. One of the founders of AI Kavach, Pratyusha Vemuri, provided an overview of her firm and its benefits for Indian clients and organisations during season three of Shark Tank India.
The creator of AI Kavach, who became confident in the product they had developed, gave a Shark Tank pitch. According to the developer, AI Kavach is a patented, award-winning, AI-powered solution that instantly sends out indicators when it detects phoney calls, messages, apps, and other information. The startup had only been operating for two months, with roughly 20,000 downloads and 1500 paying members, when she made her Shark Tank pitch.
