Every year, July 16th is celebrated as AI Appreciation Day. We share with you some perspectives from industry leaders on the incredible achievements and transformative impact that AI has brought to our world. From revolutionizing industries to shaping our daily lives, AI continues to push boundaries and unlock new possibilities
Rajasekar Rajagopal, Assurance Leader, EY Global Delivery Services India LLP
The current wave of new developments and transformation centered around artificial intelligence (AI) has generated significant public discourse about the opportunities and risks associated with AI. These AI-related risks include bias, ethics, data usage, IP ownership, etc., and have prompted demands for new regulations related to its development and usage.
The development of Generative AI platforms has challenged organizations to evaluate their AI strategies and re-assess the opportunities and impact of AI on their business. Organizations are also looking to understand the impact of AI-related risks to their business as well as to design associated responses to those risks.
While having a common standard to address the needs of the profession is being addressed, businesses still see huge benefits in applying AI in their processes. Generative AI’s greatest potential is not replacing humans; it is to assist humans in their efforts to create unimaginable solutions
Ramprakash Ramamoorthy, Director of AI Research, at ManageEngine
Artificial Intelligence is increasingly being employed in IT operations. This shift can be majorly noticed in cybersecurity and healthcare. This could be driven by the recent rise in cyberattacks targeting Indian businesses. AI and machine learning become important players here since it can track metrics and observe stakeholder actions to proactively identify threats. Furthermore, the healthcare sector is progressively utilizing AI to analyze large databases and improve clinical results and overall customer experience.
That said, it is also vital to be aware of vulnerabilities associated with the AI deployed in one’s business operations, as cybercriminals are likely to exploit such systems. Hence, if businesses wish to be AI dependent, they need to be one step ahead and take precautionary threat intelligence systems into consideration. Businesses should collaborate with external AI advisors and utilize the numerous courses available online to ensure secure functioning of AI generative systems by their employees
Jaswinder Ahuja, Corporate Vice President & India Managing Director, Cadence Design Systems
The surge in demand for smart devices, smart cars, IoT devices, and automation processes across industries has led to an increased demand for semiconductors. Within this landscape , artificial intelligence (AI) has played a pivotal role in the semiconductor industry, driving engineering productivity across the entire value chain.
The demand for high-performance chips in our interconnected world presents new challenges for chip designers, necessitating innovative solutions and faster time-to-market. AI has emerged as a game changer in chip design. Integrating AI into electronic design automation (EDA) software empowers chip designers to enhance their productivity and speed up the design process. AI-powered tools provide automated and intelligent design insights, enabling designers to leverage valuable knowledge from past projects and apply them to future designs. This integration results in improved engineering productivity have many advantages, including improved designs, reduced time-to-market, and cost savings.
Cadence Design Systems, a pivotal leader in electronic systems design, is leveraging AI across the chip design workflow to increase engineering teams’ productivity to produce higher quality, lower-cost chips and systems
Joy Sekhri, Vice President Cyber & Intelligence Solutions, South Asia, Mastercard
Today we operate in a highly interconnected world, but with increasing digitisation, the challenge of cybersecurity has multiplied. Data security, privacy and online safety are already playing a key role in developing digital products, managing businesses, and winning consumer confidence. AI powered technologies are emerging as a strong shield against the rising number and complexity of cybercrime, especially in the last few years. Today, AI is making digital transactions and information exchange significantly safer and secure across industries, while protecting consumers, merchants, and businesses. AI can ensure faster and more accurate detection and prevention of cyber threats, while also pre-empting frauds with minimal false positives.
At Mastercard, trust is at the core of what we do. We leverage AI and ML in our security tools to analyze data from millions of cyber incidents and use it to identify potential threats. We use AI to secure billions of transactions that pass through our network each year; our AI-powered solutions alone have saved over $35 billion in fraud globally in the past three years. Covering more than 14 million entities, we are one of the world’s largest cyber assessment solution providers. With our products we are building AI into various modules within our fraud assessment ecosystem as well as leading cutting-edge work in the field of behavioral biometrics to pre-empt and prevent fraud and make payment a safe and secure experience for everyone
Udit Mehrotra, MD and CEO, Spectra
At Spectra, we acknowledge the remarkable advancements and contributions of Artificial Intelligence (AI) across various industries. We recognize the immense potential AI holds in revolutionizing every aspect of our lives. As technology continues to progress, AI’s capabilities will further evolve, making it a true game-changer in every industry.
Understanding the pivotal role AI is playing today, we have developed Spectra AI.VIS, our cutting-edge AI-based video analytics solution that seamlessly integrates with existing CCTV infrastructure to automate business operations, monitor and safeguard premises and employees and predict business trends while eliminating manual errors.
Siraj Ali Mohamed, Director- Data and Analytics, Experion Technologies
With significant achievements in AI technologies, access to a wide range of datasets, and low-cost storage and computing power, the impact has been transformative in recent years. In the future too, developments in Natural Language Processing and Contextual Understanding will enable systems to provide a hyper-personalized experience – interacting with customers with a stronger understanding of their preferences, behaviors making personalized recommendations, offering customized offerings, understanding emotions and complex language nuances so well that people are not likely to make out the difference between a human and a virtual assistant or a chatbot. AI-driven technologies such as Computer Vision, Augmented Reality, and Virtual Reality will see more innovative use cases in the day-to-day aspects of our life, creating differentiators for businesses and enriching the customer journey
Pramod Kamath, Senior Director of Product Management, Publicis Sapient
Recent advances in generative AI have democratized access to Artificial intelligence. The technology has matured significantly and is at an inflection point where adoption by enterprises will see a quantum increase. People engaged in roles across the Product development life cycle will need to evolve new ways of working which embed AI in their work to elevate their productivity and effectiveness.
Product managers building the next gen-apps will need to increasingly harness Gen AI to understand customer behavior, make data-driven decisions, and use these to create intelligent and personalized solutions.
At Publicis Sapient, we are driving drive value through the innovative application of advanced technology solutions including AI. Our AI platform empowers businesses to accelerate and excel in the adoption of Generative AI whilst safeguarding sensitive information. With AI advancements, organizations can effectively solve complex challenges, streamline processes, and drive growth
Karun Tadepalli, CEO & Co-Founder, byteXL
There has been a huge watershed moment for Artificial Intelligence after ChatGPT was unveiled. AI has applications in a lots of engineering fields including automation of tasks, which massively boosting productivity and propels the economy forward. Considering how it will replace traditional IT jobs, students with AI specialization will certainly have a competitive advantage in coming years. Since Artificial Intelligence is still a nascent field – it has a lot of scope for study, research breakthroughs and coming up with new algorithms. Now is the right time for educators to skill students on AI fundamentals so that they can seize it at the right time and build upon their skillsets as the research advances.
Anwar Hussain, Director of AI/ML & DevSecOps, CriticalRiver
Artificial Intelligence has revolutionized technology consultancy, empowering consultants with enhanced problem-solving capabilities and streamlined decision-making processes. This new era of expertise, empowered by intelligent algorithms, is shaping the future of businesses in the digital age, delivering unparalleled value to clients, and transforming the field of technology consultancy. AI is poised to further transform the seamless digitization and automation in India, bringing about significant advancements and opportunities across various sectors. As AI continues to advance, India stands to benefit from its transformative potential. By embracing AI-driven digitization and automation, India can pave the way for improved governance, enhanced customer experiences, advanced manufacturing practices, accessible healthcare, quality education, sustainable agriculture, and efficient transportation systems.
Ajeya Motaganahalli, VP, Engineering and Managing Director, India R&D, Pure Storage
Artificial Intelligence (AI) has emerged as a revolutionizing force that changes the way we innovate and interact with technology. Its transformative power extends far beyond automation and efficiency, shaping the very fabric of our society and planet. While it can contribute to environmental sustainability through various applications, it also presents challenges. Large-scale AI workloads and advanced data analytics demand higher energy consumption. The MIT Technology Review reported that training just one AI model can emit more than 3,00,000 kilograms of carbon dioxide equivalent – which is nearly five times the lifetime emissions of an average car. To lessen the environmental impact of AI, it’s important to invest in sustainable practices like green data centers using all-flash storage which have lower energy and cooling requirements. Additionally, addressing issues of bias and ensuring transparency in AI systems can contribute to fair and equitable environmental decision-making.
Manojkumar Parmar, General Manager – Technical, Bosch Global Software Technologies (BGSW)
AI is quietly reshaping our world, playing a role in everything from the phones we use to the self-driving cars we’re beginning to see. As a powerful catalyst, AI fuels extraordinary efficiency and innovation across a spectrum of industries. Its profound influence also manifests in generative AI applications such as ChatGPT and GitHub Copilot. These tools captivate a global audience with their versatility and engaging interaction abilities.
Leveraging smart algorithms and machine learning, AI simplifies complex tasks and workflows, enabling us to foresee potential issues, which ensures the smooth execution of business operations. At BGSW, we’re dedicated to making sure AI is trustworthy, which we believe is key to unlocking its transformative power. Our fundamental principles underscore the creation of AI systems that are not only robust, safe, and explainable but also secure. This helps us build trust in AI in the digital world. As we commemorate AI Appreciation Day, we honour the dynamic role of AI in advancing human civilisation and steering a transformative revolution across varied industries. We enthusiastically embrace the disruptive capabilities of AI, responsibly integrating it into our operations to soar towards unparalleled realms of connectivity, efficiency, and success.
Ramesh Jampula, Vice President, IT, India and APJC Regional CIO, Dell Technologies
With the constant acceleration of digital transformation and introduction of AI driven tools, organizations need to focus on upskilling and reskilling their talent, to keep up with the innovation pace. Businesses are going to usher in a fully data driven period in which AI will assist organizations and industries of all sizes to accelerate intelligent outcomes.
Hence, AI fluency is critical in today’s world, which allows organizations to improve productivity, reduce risk, move faster, gain deeper insights and value from their data. AI does not replace human, instead humans will upskill themselves to intelligently leverage AI to be more innovative. Leveraging powerful and intelligent AI applications can help organizations answer bigger questions and make more amazing discoveries, faster, to keep pace with competition coming from every angle. At Dell, we are increasingly using automation to free up our team member’s time, enabling them to do higher level, more interesting and valuable, tasks
By Amit Luthra, Managing Director – India, Lenovo ISG
As Lenovo ISG unlocks the transformative power of AI, we’re investing $1 billion over 3 years to expand our AI-ready portfolio, servers and services. From finance to smart cities, retail to healthcare, let’s help organizations of all sizes deploy applications like generative AI for scalable decision-making.
Through the Lenovo AI Innovators program, we’ve already delivered 150+ turnkey solutions and partnered with 45+ ISVs. Our $100 million commitment here aims to empower more ISVs and businesses with AI, large language models, and immersive metaverse simulations. With the motto of smarter technology for all, we want to bring AI from the lab to scale, offer cutting-edge capabilities such as computer vision and virtual assistants and enable the intelligent transformation of businesses at every stage. Whether it’s our ThinkEdge servers that bring AI wherever data is created, or our TruScale Infrastructure as a Service for AI workloads, we’re here to help solve humanity’s greatest challenges. Let’s embrace AI’s potential to shape a smarter India.
Ritesh Chopra, Director Sales and Field Marketing, India & SAARC Countries, Norton
AI can be both a method for carrying out cyberattacks as well as a way to protect against them. With the expansion of tools such as ChatGPT, attackers can more easily generate human-like text to carry out their social engineering attacks, which rely on tricking someone into giving up confidential information. By playing on people’s emotions and natural tendency to trust, social engineers are able to manipulate people into divulging sensitive information like passwords and bank account details. With ever growing frequency and sophistication of attacks, it grows harder for people to distinguish between legitimate and malicious communications. At Norton, we are innovating to help protect people from these ever-evolving threats, both through our products and services as well as by educating people about scams
Debdoot Mukherjee, Chief Data Scientist and Head of AI, Meesho
A day dedicated to recognizing the transformative power of Artificial Intelligence (AI) is a day to be celebrated. On Artificial Intelligence Appreciation Day, we need to embrace the vast impact AI has on various industries and society, combined.
At Meesho, we uphold AI as a key catalyst for innovation, efficiency, and personalized experiences. Our firm conviction lies in utilizing the full potential of AI to empower millions of small and medium-sized businesses (SMBs) in India, thereby reshaping the future of e-commerce. We remain committed to leveraging AI comprehensively to enhance the e-commerce experience of millions of users in the country
Chaitanya Chokkareddy, Chief Product Officer, Ozonetel
Artificial Intelligence (AI) has transformed numerous aspects of our daily lives and is profoundly impacting the way businesses operate. With the release of ChatGPT and the transformative leap in large language models, enterprises are accelerating their plans to modernize customer experience (CX). Leaders within the CX domain will harness AI to analyze customer data, personalize interactions, and deepen customer engagement across various touchpoints. In contact centers, AI is automating routine tasks, augmenting human capabilities, and transforming the agent experience. AI-based tools such as speech analytics help brands uncover customer pain points and proactively resolve issues before they escalate.
Generative AI will make it possible for firms to respond faster to a wider range of user requests. It will also enable them to efficiently run targeted conversational marketing, sales, and customer service campaigns. This is just the beginning. Brands must build their roadmaps, planning how they will leverage AI to its full potential, so they can strategically deliver value to customers and create better experiences for them
Samanyou Garg, Founder & CEO, Writesonic
I’ve seen firsthand the transformative power of Artificial Intelligence, not just in India, but worldwide. It’s been an incredible journey witnessing how AI, often working unseen in the background, has revolutionized processes, making them more streamlined and efficient. From personalizing digital interactions to improving healthcare systems, AI’s impact has been profound and pervasive. But, we’re just at the dawn of this technological era. As we delve deeper into the AI frontier, its role will only become more intrinsic to our everyday lives, unlocking potential in unimaginable ways. As we celebrate AI Appreciation Day, it’s also a moment to recognize our obligation to guide this powerful technology ethically, ensuring it continues to benefit all of society
Arvind Vaishnav, Head of Clinical Partnerships, Growth Region and Philips Innovation Campus, Bangalore
I strongly believe that in today’s healthcare landscape, integrating AI is no longer a choice, but a strategic imperative. AI is a powerful ally that can augment the capabilities of healthcare professionals and revolutionize patient care. In India, where population density and resource constraints pose significant challenges, AI presents an unparalleled opportunity to bridge the gaps and provide accessible, affordable, and quality healthcare to all. From early disease detection to personalized treatment plans, AI can revolutionise approach to healthcare delivery. Further, AI can be used to harness the power of predictive analytics to identify high-risk individuals. It can also be used to streamline administrative tasks and optimize resource allocation, which frees up healthcare professionals to focus more on delivering care to patients. Having said this, to strengthen public and professional trust in AI in healthcare, technological advances need to go hand in hand with appropriate governance around data privacy, security, and the ethics of AI
Ajay Trehan, Founder & CEO, AuthBridge
Technology is evolving at an unprecedented rate, and businesses that are harnessing the power of AI are at a distinct advantage. It’s evident how AI-powered solutions are enabling companies to optimise their processes, reduce overhead, decrease turnaround time, and improve profitability in the long run. At AuthBridge, we offer AI-driven solutions to enable a one-stop digital ecosystem for employee, customer, and business onboarding and verification needs. Much of our efforts have been dedicated to applying artificial intelligence and enabling liveness detection, document classification, OCR and biometric authentication for instant verifications. This has ensured we can detect anomalies in the most complex use cases in milliseconds. We have recently deployed AI models for due diligence of loan disbursals. We keep upgrading solutions built on AI-powered technology to manage today’s problems and help our clients navigate complex challenges.
Ram Singampalli, Chief Delivery Officer, Emids
As AI takes center stage globally, it stands at the precipice of revolutionizing our society, propelling us forward with unparalleled social and economic growth while opening new avenues of existence. Its impact is set to surpass even that of the internet, permeating every aspect of our lives and reaching every individual. With responsible and equitable application, AI has the potential to lead humanity into a new era of progress.
The advent of Generative AI promises transformative changes across various industries and disciplines, empowering individuals, and businesses alike to create and access, sparking a wave of productivity enhancements. It will also play a pivotal role in transforming healthcare, offering immense opportunities to improve patient outcomes, enhance diagnostic accuracy, and streamline medical processes. By striking a balance between technological advancements and human expertise, AI can usher a new era in healthcare delivery, making it more efficient, accurate, and patient-centered. In future, healthcare services will be more affordable and accessible based on advances brought by AI.
As AI evolves rapidly, navigating its power requires careful consideration. Yet, it is undeniable that future generations will marvel at how we once lived without the transformative capabilities of AI. Responsible adoption, with a focus on fairness and ethics, will be key to unlocking its full potential and ensuring that its benefits are accessible to all.
The widespread adoption of AI, including Generative AI, will drive unprecedented advancements, reshape industries, and solve complex challenges. This exciting journey combines human ingenuity with artificial intelligence to co-create a future beyond imagination. Together, we can shape this AI-powered world, paving the way for progress, prosperity, and a brighter future for generations to come
AJ Sunder, Chief Product Officer and Chief Information Officer, RFPIO
From the inception of fire to the brilliance of smartphones, the human history is marked with innovations that have upended civilizations, reshaping our lives in unimaginable ways. We are on the cusp of the next technological revolution, the dawning age of artificial intelligence – an invention that, in retrospect, may leave us wondering how we existed pre-AI.
The technological trail we’ve blazed, studded with milestones like the wheel, electricity, and the internet, has always been an upward trajectory, nudging us towards progress. These tools, crafted by human ingenuity, were extensions of our faculties. Yet, now we’re on the precipice of a new paradigm, where technology doesn’t just augment, but could emulate, our intellectual capacities. And it is only natural for us to feel apprehensive.
Certainly, technology’s duality is undeniable – a nurturing fire can also turn into a destructive force. However, its beneficial uses have always outweighed the nefarious, a pattern we have the power to ensure continues.
As a species marked by resilience, resourcefulness, and creativity, we will channel the might of AI to further elevate humanity. By relinquishing the mundane to our AI counterparts, we will unshackle ourselves, unlocking a new era of human fulfillment and enjoyment
Raja Poladi, Head of India Development Center, SpringML, Inc
AI is the gateway for a brighter future that would impact every aspect of human endeavor to build a better world. We can see a clear example of this with SpringML’s pothole detection project for the City of Memphis. We worked closely with them to not only identify 75% more potholes but also reduce city claim costs for damage due to unaddressed potholes, resulting in significant savings for the city. This also helped Memphis create safer neighborhoods that will be more attractive to businesses and home buyers.
PwC UK and Microsoft predict that by 2030, the use of AI for sustainable technologies could add up to USD $5.2 trillion to the world economy. AI is significantly changing every industry and I believe we are just getting started
Michael P. Morris, Co-Founder, Torc
In the ecosystem of software development, the adoption of workplace AI is already having a positive effect on daily operations, but its impact on recruitment, productivity and talent management hasn’t yet come close to being realized. Finding ways for AI to enhance hiring and worker experience, as well as reward culture and performance gains, will translate directly to better future of work environments and bottom-line returns. Adding intelligent technologies is about augmenting human resources and providing greater opportunities to innovate. AI’s promise is not about replacing people and eliminating jobs — AI complements and speeds a person’s capabilities and communication mediums to efficiently and cost-effectively improve worker and customer experience, the products created, and ultimately higher satisfaction for an entire talent network
Karthikeyan Sridossan, Executive Vice President – Strategy & Growth, Indium Software
In the era of exponential growth driven by transformative technologies, AI has emerged as an indispensable ally for businesses. With the rapid growth of Generative AIs such as ChatGPT, Bard, DeepMind, etc., businesses are ready to harness the true potential of AI, which is believed to transcend boundaries and ride the future waves of disruption. Coupled with a modern data stack and traditional NLP engines for pre-processing, governed by Responsible AI principles, Generative AI can unleash limitless possibilities driving enterprise agenda through technology. Witnessing the evolving trend of customers across industries experimenting several business use cases in this space, it is evident that “the future is already here”
Nishant Rajawat, Founder, Cybernetyx & Bird AI
In an era where AI shapes nearly every aspect of our lives, at Bird AI, we are leveraging this disruptive technology to transform business collaboration. We are designing ‘people-first’ AI solutions that seamlessly unify physical and virtual workspaces, turning any display into an interactive platform with just a tap. Our AI features like real-time transcription and intelligent search allow teams to focus on tasks that truly matter, enhancing productivity and driving growth. Through data-driven insights, we empower businesses to make informed decisions, ensuring their readiness for the future. At Bird AI, we believe that collaboration AI solutions will unlock unexplored avenues of efficiency and profitability, bringing a new level of synergy and dynamism to the way businesses operate
Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work India
In the pursuit of business excellence and the realization of corporate strategy, it is essential to acknowledge the role of unconscious biases and ethical considerations in the deployment of AI technologies. As we witness a significant shift in the landscape of work, it becomes crucial for organizations to recognize the potential biases embedded within AI systems and algorithms, reflecting the societal shortcomings that exist. As leaders, we must take responsibility for navigating and managing the trust gap that arises with the advent of disruptive technologies.
The utilization of Big Data and AI algorithms has shown a tendency to perpetuate biases, resulting in unfair outcomes. It is imperative for organizations to embrace transparency and establish mechanisms to identify and mitigate these biases. By fostering fluency and understanding of AI among our workforce, we can promote ethical decision-making and prevent the reinforcement of discriminatory practices.
AI possesses transformative potential that can revolutionize industries, address global challenges, and shape the future of work. However, to effectively harness its capabilities, we must collaborate with AI while recognizing the importance of human interpretation and contextual understanding. This necessitates a harmonious integration of AI’s task automation and probabilistic recommendations with the expertise and judgment of our human employees.
On this AI Appreciation Day, let us reflect on our long-term AI strategic intent and evaluate how AI enhances decision-making at every level. We should emphasize outcomes that go beyond traditional measures of return on investment, focusing on fairness, transparency, and the reduction of biases. By doing so, we can position AI as an essential component of our digital transformation strategy, emphasizing the collaborative potential between humans and AI in achieving innovative and ethically superior corporate outcomes.”
Prashant Kashyap, Co-Founder and COO, Connect and Heal
AI has revolutionized healthcare by enhancing speed and efficiency. This advancement has enabled faster delivery of patient outcomes and has transformed the patient journey. With pre-consultation data analysis, AI has empowered doctors with insights and additional time, revolutionizing patient care for comprehensive and personalized attention. In addition, AI has improved the claims process, ensuring a seamless patient journey. We are witnessing a healthcare revolution driven by AI’s transformative power, unlocking untapped potential and paving the way for a brighter future of healthcare excellence
Advait Kumar, Co-Founder, Boon
AI: The “Elder Wand” of this contemporary world with immense potential. This tool has the capacity to augment and accelerate humanity’s efforts towards the Sustainable Development Goals at an unprecedented level. At Boon, we are pioneering an AI-based transformative ZeroMileWater technology that delivers clean drinking water with zero plastic and water wastage.
AI possesses immense potential but needs to be wielded responsibly. Just as the Elder Wand required a skilled and ethical wizard to utilize its power for good, AI necessitates the guidance of responsible innovators, policymakers, and society as a whole. By drawing strong ethical boundaries, we can harness the full potential of AI and use it to cast the spell Wingardium Leviosa to lift growth, productivity, and sustainability!
Rohan Nesho Jain, Founder and CEO, MADverse Music
From streamlined production workflows to enhanced audio quality and comprehensive music release and promotion platforms like Madverse, AI+ music tech is complementing the careers of artists at every stage. Going forward, it will provide them with direction and support, including Dolby’s artist-centric AI for mastering and upcoming stable diffusion tech creating visual arts for their tracks. All in all, it has paved the way for a seamless and immersive music experience, benefiting both artists and listeners alike.
Manan Joshi, Co-founder & Director, Excellent Publicity
At Excellent Publicity, we understand the importance of Artificial Intelligence in fueling innovation and uniting brands. AI is revolutionizing the advertising industry by allowing us to deliver more impactful and consumer-centric experiences. Using AI, we can analyze a wide range of consumer insights, such as preferences, behaviors, and purchasing habits, which allows us to create more relevant campaigns for the targeted audiences. Furthermore, AI enables us to optimize advertising campaigns in order to maximize engagement and ROI. By leveraging AI, businesses can streamline and automate their processes, saving both time and resources. AI enables brands to provide instant consumer support, improve the user experience, boost customer satisfaction, and optimize ad spending to increase conversions. Different companies from various industries can now collaborate by utilizing AI-generated analysis to create strategies that are relevant to the evolving demands of consumers.
Mayank Gupta, Co-founder & COO, Zopper
Artificial Intelligence is already making an impact in the Insurtech segment by triggering the right insurance offerings in terms of personalised pricing, seamless access and product design. Like an evolving basket of personalised choices, AI further enables the right life cycle stage to impact a consumer’s purchase decision. Let’s say a consumer purchases air tickets on a travel portal. AI prompts the consumer to opt for travel insurance at a certain price point in sync with the consumer’s spending pattern. Clearly, data and AI have mapped out a logical reasoning to interlink how the consumer is spending and is likely to spend on different touchpoints. With the right product positioning at the right lifecycle stage, embedded insurance is clearly evolving to become a preferred digital choice.
Tanu Banerjee, Partner, Khaitan & Co
Recent advances in artificial intelligence/ AI have resulted in meteoric rise in use of AI based tools by organisations across sectors. With launch of new generative AI models such as OpenAI’s Chat-GPT, Google’s ‘Bard’, Midjourney Inc’s ‘Midjourney’, Adobe’s ‘Firefly’, and other generative AI models for public, the adoption of AI has rapidly increased across various sectors and applications. There is no doubt that AI is set to transform the way any business operates. Business leaders across sectors are increasingly investing in adoption of AI based tools, that can enhance efficiency by automating routine tasks, analyse data, enhance customer experiences, and drive innovation. The future of AI is certainly bright. However, the current nascent AI landscape has some inherent challenges, for example risks of data security, issues around ownership of AI-generated works, inherent AI bias in terms of producing biased or inaccurate results given the output of an AI tool depends on the data sets it is trained on, etc.
The Indian Government is also cognizant of developments in the AI sector. For example, the MEITY and the NITI Aayog have published reports on AI. The Government has set its aim at “making AI in India” and “making AI work for India” and has announced creation of three centers of excellence which will conduct interdisciplinary research, develop applications and problem solutions. Further, in its recent dialogue with stakeholders, MEITY also indicated that the proposed new Digital India Act, which will overhaul the regulation of the Internet in India, will have AI as a key area of regulation. Given we are still in the early stages of AI adoption, stakeholder engagement in the AI value-chain is vital for developing a safe and user-harm free landscape of adopting AI
Sangeet Kumar, CEO & Co-Founder, Addverb
AI continues to shape and revolutionize our lives in unimaginable ways, spanning across various industries such as healthcare, transportation, finance, and entertainment. As we celebrate the remarkable advancements in artificial intelligence, we recognize its transformative impact on supply chain and warehouse automation. At Addverb, we have implemented AI through our robots and automation system, to transform traditional warehouses into autonomous distribution centres, by optimising different aspects like storage, picking,sorting, and shipping of goods. Convergence of AI and human expertise creates a powerful synergy, resulting in lower operational costs, higher productivity & accuracy and also enhancing worker safety
Lokesh Nigam, Co-founder and Director, Kognoz
Artificial intelligence is an expansive field with profound implications, especially in human resource management. HR departments increasingly rely on AI to inform decisions related to hiring, employee development, and retention. On this AI Appreciation Day, Kognoz celebrates the transformative impact of AI in talent acquisition. By harnessing cutting-edge conversational intelligence, we have revolutionized traditional hiring methods. Our platform empowers client companies, delivering unmatched efficiency, cost savings, and a competitive advantage. With advanced AI capabilities, we provide a leading-edge solution that optimizes the hiring process and outperforms competitors. Let’s honor the incredible potential of AI to revolutionize talent acquisition and unlock boundless opportunities for organizations worldwide
Beas Dev Ralhan, CEO, Next Education
AI-enabled edtech platforms are the future of learning. They offer a number of benefits that can help students learn more effectively and efficiently. As AI continues to develop, these platforms will become even more powerful and versatile. This will make them an essential tool for students who are looking to get the most out of their education
Jayesh Jose, CTO and Co-Founder, FreshtoHome
AI has vastly transformed the e-commerce industry, revolutionizing various aspects of online shopping and enhancing the overall customer experience. It has enabled brands to personalize shopping experiences, optimize search capabilities, bridge gaps in customer support, and make inventory management and supply chain robust.
We, at FreshToHome, are leveraging AI to reduce wastage, optimize supply chain management and predict demand to strategize our procurement processes. Every stage of our growth has been actively or passively led by AI-driven solutions.
On AI Appreciation Day, we celebrate the remarkable offerings of AI that are driving growth across industries. With insatiable curiosity and data processing prowess, AI fuels scientific breakthroughs, streamlines processes, and unlocks human potential. AI is set to grow further, and we are eagerly looking forward to seeing the transformation it brings in the future for all industries
Manav Subodh- Managing Director, 1M1B (One Million for One Billion)
There are 2 ways in which I think generative AI is going to empower us to strengthen our future economy. In the space of education and skilling, I think AI is going to be revolutionary in its ability to provide a robust system of support for teachers and youths. Especially when it comes to balancing administrative duties such as attendance, assessments, corrections, and making creative assignments. This will allow them to focus more on how to make learning a more exciting and fun process. The other segment in which AI will facilitate an ease of work is small businesses and entrepreneurs. Where previously they were unable to hire big-time agencies to expand their operations, they can now get a surprising amount done by leveraging generative AI. Be it creating a branding strategy, making creative posters, doing copywriting or even creating a preliminary budget – AI can provide all kinds of support to a variety of small businesses and help take India’s economy to another level
Mukesh Kumar Bansal, CTO, TelioEV
On AI Appreciation Day, we recognize the extraordinary influence of artificial intelligence (AI) on many commercial entities, including the Electric Vehicle (EV) business. AI acts as a catalyst, simplifying operations, increasing efficiency, and stimulating development. AI liberates employees by automating monotonous jobs, allowing them to focus on sophisticated and imaginative endeavours.
AI reduces errors through its accuracy in data processing and decision-making, resulting in increased production and customer satisfaction. Businesses must incorporate AI into their workflows, embracing AI-driven solutions that allow smooth operations and improve decision-making processes.
As with other businesses, AI is also helping the EV industry in many ways. AI improves EV performance by automating operations and enhancing battery management systems via enhanced data processing, maximizing efficiency and battery longevity. This promotes EV growth by providing consumers with increased dependability and driving range. Furthermore, AI enables manufacturers to customize EVs based on data insights, matching with market expectations and consumer satisfaction, resulting in additional market development.
Ilesh Ghevariya, Founder and CEO, French Crown
As the Founder of a D2C fast fashion brand in the lifestyle industry, I genuinely appreciate how AI is revolutionizing our work. It has become an invaluable tool, easing various aspects of our business and driving growth. AI has greatly benefited us, particularly in demand forecasting and inventory management.
By analyzing historical data and market insights, it accurately predicts customer demand and optimizes inventory levels, leading to improved customer satisfaction and increased sales. Furthermore, AI-powered chatbots and virtual assistants handle queries, recommend products, and process transactions, freeing up human resources for more complex tasks. Moreover, AI-driven data analytics have empowered us with valuable insights into customer preferences, market trends, and competitor analysis. This informs our decisions on product development, marketing strategies, and pricing, resulting in more targeted and effective campaigns. Overall, I deeply appreciate AI and its transformative impact and I am excited about the endless possibilities it holds for the future of our business and the industry
Ashish Singhal, CEO & Co-founder, CoinSwitch
Generative AI has advanced to new levels of maturity and sophistication during the last two years, growing by leaps and bounds. Looking at the fast-paced business landscape; integrating and exploring AI is essential for individuals and organisations to capitalize on opportunities.
As we look ahead, AI will be a game-changer, democratizing knowledge and transforming industries across the spectrum
Aakrit Vaish, CEO and Cofounder at Haptik
Although India didn’t pioneer AI, our expertise lies in harnessing its potential for practical applications. We excel in transforming AI science into tangible, user-friendly products. Generative AI is set to revolutionize the Indian SaaS industry, fostering inclusivity and accessibility.
By leveraging generative AI technologies, we will witness a democratisation of software as a service, empowering businesses of all sizes. This technological shift will open doors to innovation, fuel entrepreneurship, and create a level playing field. India’s ability to convert AI science into actionable solutions positions us at the forefront of this transformative journey, shaping the future of the Indian SaaS landscape
Nishant Behl, Founder of Expand My Business
As technology continues to advance, we anticipate AI playing an even more integral role in transforming industries. From personalized customer experiences to predictive analytics, AI will enable businesses to further tailor their offerings, anticipate market trends, and deliver exceptional value to customers.
At Expand My Business, we embrace AI as a powerful tool that helps us navigate the complexities of the business landscape. As we celebrate AI Appreciation Day, we eagerly await the limitless opportunities that artificial intelligence presents. Gear up for a thrilling future where AI consistently propels businesses towards unthinkable achievements.
Chirag Jain, Co-founder, SocialTAG
By leveraging AI-powered tools, content creators can identify the right influencers for their campaigns, ensuring brand alignment and maximizing reach. Moreover, AI-powered content creation tools have empowered influencers and small companies alike to produce high-quality and captivating content effortlessly. This level playing field has opened doors for small businesses to leverage influencer marketing as a powerful tool for brand growth and exposure. Today, we appreciate the invaluable role of AI in transforming the influencer marketing landscape, empowering brands of all sizes and inspiring creativity and authenticity in content collaborations
Amit Relan, Co- Founder and CEO, mFilterIT
With ChatGPT and BART in the ecosystem, AI has brought a revolutionary change in how businesses work. Not just convenience and speed, AI has rewarded with accuracy, efficiency and accessibility. Beyond the convenience of business, AI has evolved its role from being a work-doer to also the protector of businesses digitally from uncertain brand threats. Using the capabilities of AI, businesses can proactively identify unidentified threats and protect their brand image from their impact
Krutika Lal, co-founder and chief marketing officer (CMO), Aretto
At Aretto, our work culture is driven by a shared vision of excellence and innovation, and AI plays a crucial role in shaping our success. With AI technology, we strive to streamline processes and provide exceptional customer experiences. We leverage the power of AI to enhance our customer support and optimize our marketing analysis. Through AI-powered chatbots, we provide prompt and personalized assistance to our customers, ensuring a seamless shopping experience. By automating routine tasks and handling basic inquiries. Moreover, AI plays a pivotal role in our marketing analysis efforts. By analyzing vast amounts of customer data, AI algorithms provide valuable insights into consumer behavior, preferences, and trends. This enables us to customize our marketing campaigns and product offerings to meet the evolving needs of our target audience.
AI algorithms also help us identify patterns, detect anomalies, and forecast demand, enabling us to make data-driven decisions for inventory management, pricing strategies, and product development. The integration of AI in our customer support and marketing analysis empowers us to deliver exceptional customer experiences, optimize our operations, and stay ahead in a competitive market. We are committed to leveraging cutting-edge technology to continuously improve our services and meet the ever-changing demands of our valued customers.
Jitendra Chouksey, Co-Founder and CEO of Fittr
At Fittr, we recognize the incredible impact of ChatGPT with AI on the fitness industry’s evolution. With this cutting-edge technology, we have witnessed a revolution in personalized guidance, seamless interactions, and enhanced user experiences.AI has become a virtual fitness companion, providing instant access to expert advice, tailored workout plans, nutritional insights, and motivational support. Its integration with leading technologies has empowered individuals worldwide, transcending geographical boundaries and time constraints.
The amalgamation of human-like conversation and AI capabilities has revolutionized how people engage with fitness, making it more accessible, convenient, and engaging.
At Fittr, we are proud to leverage AI to empower and inspire individuals on their transformative fitness journeys
Nishant Behl, Founder of Expand My Business
As technology continues to advance, we anticipate AI playing an even more integral role in transforming industries. From personalized customer experiences to predictive analytics, AI will enable businesses to further tailor their offerings, anticipate market trends, and deliver exceptional value to customers. At Expand My Business, we embrace AI as a powerful tool that helps us navigate the complexities of the business landscape. As we celebrate AI Appreciation Day, we eagerly await the limitless opportunities that artificial intelligence presents. Gear up for a thrilling future where AI consistently propels businesses towards unthinkable achievements.