Toch: The New Age Platform for Earning Using Digital Assets with the AI-Based “Toch” Technology
Of late, the Indian economy is witnessing various artificial intelligence-based start-ups growing at a significantly accelerating pace as the technology is continuously innovating. From a phase of online shopping gaining recognition in the market to a phase where new technology like artificial intelligence is remodelling other industries, “technology” is creating a foundation for various successful business models.
Toch is an e-commerce and social media platform founded in 2016 built entirely on the exclusive Artificial Intelligence and blockchain technologies.
Alok Patil and Saket Dandotia, technology experts are the idea generators of Toch who were later joined by the CEO Vinayak Shrivastav when they generated the idea and carved the space for a competitive video platform like Toch in India. The three founders Vinayak, Saket, Alok, and their team built a disruptive technology in the media and commerce space.
Vinayak Shrivastav specialises in company growth plans and implementation. He helps the company find its unique identity and produce high-quality strategic plans that meets their objectives. Through his position in Toch, Vinayak has grown the company from both product and customer side.
These innovators work with the true entrepreneurial spirit. They do not believe in the process of waiting for the world to adopt new technologies rather they are ready to test the new technologies and the potential it holds. This spirit has led to not only a creation of a platform like Toch which is an integration of the two most trending elements of today, AI (Artificial Intelligence) and Video Content but also a platform that empowers companies to be a part of the Digital Media Revolution.
Artificial Intelligence: The Core technology
Briefly explained, Artificial intelligence (AI) is the ability of a computer program or a machine to think and learn. The technology is revolutionizing every industry from healthcare to luxury, although the technology has existed from decades, artificial intelligence in the last few years has received the long due attention.
The entrepreneur Vinayak Shrivastav, shares his views on the boost to this “Smart” technology “The recent growth of Artificial Intelligence is because everyone understands the need for complete automation as it will help increase efficiency and ease of getting high volume work processed in a shorter period.”
Indeed the technology is the key foundation for various upcoming entrepreneurs and start-ups. In 2019, Artificial Intelligence is a technology that people prefer for getting a high volume of work done in a shorter time without human invention. The increased efficiency and productivity is the leading advantage of AI that is now being addressed and applied by various industries.
How Toch Works
Thousands of videos are uploaded and streamed every day on ethical broadcasting platforms like “Youtube” and “Baidu”. Since video is one of the largest platforms for procuring information, it also influences the buying decisions and choices of people. Toch is an innovative solution for the new-age problem of looking for the most relevant product, person, location or object that one has seen in a video.
The platform uses artificial intelligence to break down the video and identify the emotions, person, location and other information in that a particular scene and present it to the users with meta-tagging. It is a solution to enjoy break-free video experience and online shopping at the same time simultaneously without scrolling to different platforms.
The “AI Engine” used in Toch offers a technology that detects the touch points, extracts meta-data to enrich content data points, and automates the meta-tagging process. The Auto meta-tagging makes Toch a go-to solution for multiple platforms helping them monetize content and use meta-data for multiple data collection internally.
Toch also presents a fusion of live streaming and online shopping with the “Live Shopping” technology using the AI, making Toch a perfect platform to make the videos not only for user engagement but also to boost brand sales. The feature appeals to the millennials as they can purchase products on the spot with a tap of a button while never leaving the stream.
Key Challenges in the Initial Stage
Artificial intelligence works with a huge number of data at once along with the algorithms. Building an AI company is all about having enough data points and sets to have a robust system to automate the work.
“Discipline is the bridge between Goals and Accomplishment”- Jim Rohn
Even though artificial intelligence is a booming industry, it takes time and effort to create a platform which can handle thousands of videos and be a trusted brand. Toch covered a journey of 18 months to reach a stage where the other businesses like media and entertainment companies in the country, showed interest and begin using the deep learning technology solutions offered by Toch.
The Target Audience
Since the website is a user-based platform and not a customer-based platform, the target audience is both brands and customers.
Toch works with “businesses” including the video streaming platforms like Youtube, Baidu, and social media platforms, ad agencies that require meta-tagging content, the major e-commerce sites, and partner e-shops.
The “customers” are the users from the age group of 16 to 45 years immersed in watching video content and making significant buying decisions.
The Prime Office
Located at the prime location in Lower Parel and Andheri, Mumbai, the fastest growing tech company’s office offers the friendliest working atmosphere. The current team at Toch mostly comprises of the technical specialists with the core focus on building a successful tech company.
Key Factors of Growth In Technical Field
The power with a business lies in making it reach the right audience at the right time. The seamless and desired customer experience with unique technology is the key to success of Toch in a competitive technology field.
The Future Plans in Competitive Environment
“Artificial intelligence holds the power to unleash the potential of videos in the upcoming market conditions” states Vinayak
The future of Artificial Intelligence in any technology-based company is inevitable. The technology will dominate the media-tech sector with cutting edge AI solutions and also engage consumers through live commerce experience.
Milestones and Achievements
Powering the leading media companies in the digital media revolution is one of the biggest achievements for Toch by far. The company has successfully raised funding led by Hyderabad Angels Network as the investors believe in the potential the Toch holds in terms of customer base through the “Live Commerce” experience which is the new wave in the industry. The company is working towards repositioning its goals keeping the best consumer experience in mind.
Words Of Wisdom
“Know your competitors and market opportunity before getting into it, because it will be a long journey before you realize revenues and growth in the company.”-Vinayak Shrivastav, CEO, Toch