Quick Heal Technologies has launched its fraud prevention solution, AntiFraud.AI.

Quick Heal Technologies has made a name for itself in the cybersecurity sector by offering cutting-edge solutions that shield people and companies from online dangers. The Seqrite brand is renowned for providing a wide range of security solutions that provide cutting-edge defense against ransomware, malware, phishing scams, and other online dangers. 

Quick Heal Technologies lauched antifraud AI:

Pune-based cybersecurity company Quick Heal Technologies plans to introduce artificial intelligence (AI) with antifraud capabilities. This is the first locally produced fraud prevention solution in India, and it can shield customers of all ages from evolving financial and digital scams. According to Quick Heal CEO Vishal Salvi, there are serious issues facing the industry and consumers as a result of the increase in fraud and cybercrime. In addition to highlighting the company’s experience and creative approach to solving these problems, he emphasized the significance of creating antifraud solutions. Salvi stated that there is a growing need for a product that enables users to comprehend what is happening on their devices, particularly with the proliferation of apps and mobile banking transactions.

As per Salvi’s statement, “Antifraud AI is all about making sure you stay informed and updated about how to defend yourself and your mobile devices against these attacks.” This covers everything from fraudulent transactions to phone scams involving phony apps to threat actors stealing your login information. Consequently, that is basically what the product is.

Billion-dollar industry to start revenue from the first day:

Vishal Salvi stressed that the next launch will be an all-Indian rollout that will allow the company to turn a profit on its first day of business. Salvi acknowledged that Quick Heal has entered a new market with antifraud AI, indicating a clear business strategy for the next few quarters.

He also highlighted the product’s significant market potential, highlighting the enormous opportunity to protect these devices with cutting-edge solutions as India gets closer to having a $1 billion smartphone user base. Quick Heal was recently appointed as a member of the US Artificial Intelligence Safety Institute Consortium, making it the only Indian cybersecurity firm in the group.

Quick Heal Technologies Ltd. stock is up by more than 6% today:

The reason why Quick Heal Technologies Ltd.’s stock is currently trading at Rs. 678.60 per share—its highest traded price to date was Rs. 694.50—is that the company recently introduced Anti Fraud.AI, a fraud prevention tool.

Conclusion: As the number of smartphone users in India surpassed $1 billion, Quick Heal Technologies is expanding into the AI space in an attempt to take a sizable portion of the market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.