Infibeam Avenues announced that the 14th Annual General Meeting (AGM) of the company will be held on 14 August 2024.Powered by Capital Market - Live News

The Board of Infibeam Avenues at its meeting held on 09 July 2024 has approved the appointment of Narayanan Sadanandan (DIN: 07263104) as an Additional Independent Director of the Company for a term of 5 years w.e.f. 09 July 2024. Powered by Capital Market - Live News

The Board of Infibeam Avenues at its meeting held on 09 July 2024 has approved to incorporate a Wholly Owned Subsidiary Company and has also approved to transfer its artificial intelligence business � Phronetic.AI into the said Company and hence, the Proposed Company would be in the business of Artificial Intelligence (AI) enabled fraud detection & prevention market space with an initial focus on fintech & financial sector building AI solutions for Fraud detection, Authentication and Risk identification (FAR) to nurture AI ecosystem & develop solutions for the domestic and global market.The proposed Company would be a One-Stop Shop to bring AI and Machine Learning (ML) into the day-today activities as well as analyse data and provide actionable winning fraud detection solutions for businesses, organizations and governments to tackle rising threats to financial systems, businesses and national interest. AI plays a significant role in fraud management and improving operational efficiency for organisations by helping them identify, prevent, detect, and respond to fraudulent activities. By utilising AI and machine learning algorithms, combining big data sources with real-time monitoring and utilizing adaptive and predictive analytics techniques, it can detect patterns and anomalies that indicate fraudulent activities, such as payment fraud, identity theft, or phishing attacks. These AI-based solutions can continually adapt and learn from new fraud patterns and trends, continuously improving their detection capabilities. Furthermore, video AI based systems can integrate with security systems like CCTV data to provide more comprehensive approach to fraud prevention and improvement of overall operational efficiency of organisations. The wholly owned subsidiary Company once incorporated will be a related party of the Company. However, the Promoters/ Promoter group/ group companies do not have any interest. Powered by Capital Market - Live News

The Board of Infibeam Avenues at its meeting held on 09 July 2024 has approved the acquisition of 26% stake from the existing shareholder of Infibeam Digital Entertainment. Post acquisition, it would become a wholly owned subsidiary company. Powered by Capital Market - Live News

Infibeam Avenues announced its second major initiative in the Artificial Intelligence space, as it enters into collaboration with academic institutions to extend and enhance AI adoption and growth in India. The company has signed a Memorandum of Understanding (MoU) with the prestigious Entrepreneurship Development Institute of India (EDII), Ahmedabad, aimed at fostering AI adoption among enterprises, start-ups, and MSMEs.Entrepreneurship Development Institute of India (EDII), Ahmedabad, an autonomous and not-for-profit Institute, set up in 1983, is an acknowledged National Resource Institute for Entrepreneurship Education, Research, Training, Startups, MSME growth, Incubation, Innovations & Institution Building. It is sponsored by apex financial institutions - the IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd., the State Bank of India (SBI) and the Government of Gujarat.As part of the MoU, Infibeam Avenues has successfully implemented and deployed its THEIA Platform, an advanced video AI Developer Platform, at the Entrepreneurship Development Institute of India (EDII) campus in Gandhinagar. This deployment will provide EDII`s students and entrepreneurs with cutting-edge tools to develop their own AI products using the THEIA platform, thereby enhancing business efficiency and capabilities. Powered by Capital Market - Live News