AI is emerging as a Potent Force for Enterprises to Innovate & Transform

Artificial Intelligence would help India create a technology garage for the world, deliberated Mr. Arnab Thakur, Former Programme Director (Atal Innovation Mission), NITI Aayog in an interactive webinar organized by PHD Chamber of Commerce and Industry on ‘Artificial Intelligence: Empowering India for the Future’.

Mr. Thakur while deliberating about the emergence of AI in the last few years, mentioned that there has been constant work in this sector especially in the field of machine learning. He said that technology can help us move from a linear way to the exponential way of solving a problem and that’s where AI and machine learning come into focus.

He added that India has to work on leveraging its power of data, leverage on computing- as it will be a big contribution to AI. It will also help in economic prosperity. Leveraging India’s capability in research & development and application technology will also be very helpful in AI. He emphasized that we need to build ourselves on the pillars of India’s capability in research and development and bring in solutions by becoming a data intelligent country.

Mr. Mukesh Jain, Chief Technology & Innovation Officer and Vice President, Capgemini India in his remarks elaborated on how AI started 21 years ago and evolved over time in terms of storage, bandwidth etc. He emphasized on the importance of data privacy and capturing human interactions. He talked about the importance of AI’s integration in education at the grass-root level and the introduction of AI Fundamental Programs to enhance human talent.

He said understanding the concept of AI is important and going forward, it will be a revolution in India. He also spoke how AI would help prevent data laundering and financial fraud prevention in future. He discussed the long term benefits of AI for Industries and Human life and the need for data privacy.

Ms. Shamli Prakash, Country Head-India, Zenon AI while talking about waves of disruptions of Data Sciences and AI, discussed the similarities of Industrial Revolution and Evolution of Artificial Intelligence. She also shared the key learnings about AI, its potential applications and necessities for industries, government and businesses to establish AI.

She also discussed the positive effects of AI in business that can help in cost reductions, profits maximization and effective marketing. She also focussed on the importance of AI as a part of the strategic roadmap for every sector of the economy. She also said that there have been giant leaps in terms of data modelling and an explosive growth of data in the last few years. This is also because of rapid advancements in technology processing abilities and evolution of storage. She highlighted that the need of the hour is AI adoption in significant leadership and focused investments.

Mr. Arun Karna, MD & CEO, AT&T Global Network Services India Private Ltd in his presentation on “Artificial Intelligence for Competitive Advantage” discussed how AI is emerging as a potent force for enterprises to innovate and transform. Organizations are also realizing the potential of AI in diverse areas such as cost optimization; operational efficiency; customer experience and revenue growth. He spoke on the scope and potential of AI and how industries can leverage the power of AI for global competitive advantages.

He also shared how a combination of 5G & AI is re-inventing manufacturing & healthcare sector and can be used in sectors like enterprise technology, retail, banking, agriculture, transportation and many more. He also threw light on some of the challenges that AI might face in the coming years.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address spoke on how India is at the cusp of a digital revolution and how some of the sectors in India have already adopted AI. He said that enhanced computing power, digitisation, increase in data storage capabilities at reduced costs, has improved applicability of AI in business and society. He also deliberated that India, being the fastest growing economy with the second largest population in the world, has a significant stake in the AI revolution.

Mr. Aggarwal added that India possesses every ingredient to become an AI hub with its strong and robust IT ecosystem and talented human resources to implement any technology. AI and tech solution providers in India are at an advantage here as India is diverse with mega volumes of data generated constantly. Full and responsible implementation of AI will open new economic opportunities. While the world is battling the pandemic, the need of the hour is to put the focus firmly on AI and the way it will redefine the reality of the post-COVID world. All this will aid the country to become an emerging AI superpower, said Mr. Aggarwal.

Mr. Sandeep Aggarwal, Mentor, Telecom Committee, PHD Chamber of Commerce and Industry deliberated that AI has got a bright and promising future in India. He also said that AI can provide large incremental value to sectors like energy, retail, manufacturing, healthcare, education and agriculture. That will also mean the opportunity for jobs in all these sectors, each for AI experts and others. He also said that India is already an IT powerhouse hence a conducive environment for AI to flourish here is already present.

Mr. Alok Mukherjee, Co-Chair, Telecom Committee, PHD Chamber of Commerce and Industry proposed the formal vote of thanks to the panellists for their insightful views on the how AI would change the world and bring a revolution in India.

The webinar was moderated by Dr. Yogesh Srivastav, Assistant Secretary General, PHD Chamber of Commerce and Industry. It was supported by Idemia Syscom India Pvt Limited and was successfully attended by many senior members of PHD, Embassy officials and stalwarts from the telecom industry.