July 16th of each year is celebrated as Artificial Intelligence (AI) Appreciation Day. The day is meant to transform and redefine the power of technology and celebrate the achievements of AI that are creating a disruptive future around the world.
The advent of AI has improved every human life in many ways. Business, an important aspect of our lives that contributes to economic development, also employs AI to fit every aspect of its strategy.
expert opinion
McKinsey research shows that companies that adopt advanced technology are up to 40 percent more efficient and see significant cost savings of up to 30 percent, said Siddish Naik, country leader for data, AI and automation. Software, Technology Sales, IBM India and South Asia.
Naik notes that while advances in generative AI have awakened businesses to a myriad of possibilities, most organizations wanting to invest in and adopt this smart technology are unsure of its implementation. emphasized. Therefore, it is important for AI systems to be explainable and transparent to ensure user trust, he added.
Today it is important to use this generation technology more efficiently. Commenting on potential uses for AI, Nabendu Das, head of engineering at Tally Solutions, said: This includes data privacy, unbiased insights and predictions to ensure the right business is run. “
Sindhu Gangadharan, Senior Vice President, MD and Head of SAP User Enablemen, SAP Labs India, noted this, stating that AI is at the heart of business strategy and helps companies become intelligent and sustainable enterprises. rice field. Leveraging AI, she added, businesses can build their most critical work processes and work with consumers to discover greater insights and efficiencies for valuable services.
Artificial intelligence and machine learning not only detect threats during use, but also take appropriate action to protect your business applications. Manish Mimani, Founder and CEO of Protectt.ai, emphasized that through continuous upgrades and innovative AI-powered tools, we can bring success to an increasingly competitive market.
AI can ensure faster and more accurate detection and prevent cyberthreats that hinder business growth, while minimizing false positives and preempting fraud, said Mastercard’s South Asia cyber chief. & Vice President, Intelligence Solutions Joy Sekri.
Gopali Contractor, Global Lead – Advanced AI & ML Capabilities, Accenture & Cloud First AI Practices, India’s Advanced Technology Center Lead, Accenture Shows Nearly 73% of Companies Prioritize AI Reinventing Enterprise Operations’ study sheds light on improving operational resilience, prioritizing it above all other digital investments for the foreseeable future.
He said companies need to strengthen their foundations, reinvent, compete, and scale AI to be in a position to reach new heights.
Giridar Yasa, Chief Technology Officer at LendingCart, similarly expressed a very optimistic view on AI, stating, “One big shift that is revolutionizing the fintech space today is the It’s not AI technology,” he said.
Additionally, Vas Merg, Vice President of Products (A23) for Digital Works, told BW Businessworld, “Artificial intelligence combined with human intelligence has the ability to disrupt the technological landscape around the world. It has the ability to analyze vast amounts of data and extract meaningful insights, helping companies gain a competitive edge with immersive results.”
Sven Krasser, senior vice president and principal researcher at CrowdStrike, said that with the right AI technology in place, many companies can automate routine tasks, saving time and money.
He emphasized that companies can improve productivity, operational efficiency and customer experience through AI.
Manuj Desai, STL’s Global Chief Information Officer, said of the drive for Artificial General Intelligence (AGI), “AI is the bread and butter of business, offering a world of new possibilities and challenges.” I was.
AI revolution
Indeed, it is no exaggeration to say that the AI revolution is the next big thing. The new technology spin will create nearly 2 million jobs for him by 2025, according to the report.
“Artificial intelligence is revolutionizing industries around the world by expanding the realm of possibilities. Its integration into various fields is reshaping workflows, optimizing processes and pushing innovation to unprecedented heights.” is being promoted to,” said Manu Saleh, Managing Director and CEO, Mercedes-Benz Research & Development India.
Saale said Mercedes is working to develop pioneering innovations using AI, deep learning and immersive technology. He emphasized that our talented team is relentlessly working to develop AI-powered safety and advanced features that will revolutionize our business.
Samir Mahapatra, Country Manager, India and SAARC, Aeris Communications, believes AI’s ability to process vast amounts of data will revolutionize business decision-making and is an integral part of today’s rapidly evolving world. He told BW Business World that it is.
Varun Babbar, Managing Director of Qlik India and SAARC, said AI is user-centric, removing traditional business barriers and making it easier for companies to adopt innovative technology interactions.
In the same light, Prakash Balasubramanian, Executive Vice President and Global Head of Engineering Practice and Delivery at Ascendion, emphasized the importance of harnessing the transformative power of AI in today’s competitive business environment. He said the AI transformation will deliver unprecedented profitability.
Fittr co-founder and CEO Jitendra Chouksey commented on the revolution AI has brought to the fitness industry, stating, “We are witnessing a revolution in personalized guidance, seamless interaction and enhanced user experience. I did.”
Although our country is not a pioneer in AI technology, Haptik CEO and co-founder Aakrit Vaish said generative technology is still poised to revolutionize India’s SaaS industry and promote inclusiveness and accessibility. emphasized the fact that By leveraging AI, the industry will witness the democratization of software as a service, empowering companies of all sizes, Vaish added.
AI applications in business
AI transforms the way technology and humans work together to generate significant business benefits and solutions.
In the mobility sector, for example, generative AI will build a range of first- and last-mile solutions, make urban transport systems more effective, and grow as the preferred mode of mass mobility, says India’s managing director of signaling and infrastructure. Tamim Kamaldine said. Alstom.
Additionally, AI plays a pivotal role in marketing analytics efforts. Krutika Lal, co-founder and CMO of Aretto, says AI algorithms analyze vast amounts of customer data to provide valuable insights into consumer behavior, preferences and trends.
Sathesh Murthy, managing director and head of engineering for India at RingCentral, said, “We’re giving sales teams the ability to automate meeting summaries, action items, coaching, and more based on conversation trends to close more deals. We see great potential in AI’s ability to provide Trade faster. “
In addition, Mr. Aryaman Vir, CEO of Aurum WiseX, emphasized the benefits of AI in the proptech and real estate investment fields, stating that the company leverages AI to build interactive digital explorations that allow potential investors to He said it allows people to explore real estate without facing any restrictions.
Similarly, Pankaj Sachdeva, Vice President, Data Science & Analytics and Managing Director, India Innovation, said: “
Experts Appreciate AI
“From making our lives easier to improving our business, the possibilities of AI are truly limitless,” said Prashanth Seshadri, AI Analytics & Data Director at Intuit India.
“In an era of explosive growth driven by innovative technology, AI has emerged as an essential ally for businesses,” said Karthikeyan Sridossan, executive vice president of strategy and growth at Indium Software.
Joining the line of thanks, Ozonetel’s chief product officer, Chaitanya Chokkareddy, said this is the beginning of AI as a landmark for brands to build roadmaps and plans to make the most of AI. said.
AI’s contribution to business is two-fold. First, it greatly increases efficiency by automating time-consuming manual tasks, allowing companies to allocate resources creatively. Second, it provides valuable insights that enable businesses to make data-driven decisions, emphasized Vinayak Shrivastav, co-founder and CEO of VideoVerse.
Speaking of the healthcare business, Emmids said AI has enabled the sector to make more informed decisions, optimize processes and improve patient outcomes. talked about business.
Sanjay Jain, Chief Business Transformation Officer at WNS, said AI’s adoption of the technology opens the door to new possibilities, enabling organizations to gain valuable data-driven insights, streamline processes and We said that it will allow us to deliver value to our clients.
Promise of AI
AI is often categorized as a threat to some jobs, but commenting on this concern, Torc Director, CEO and Co-Founder Michael Morris said the promise of AI is to replace people or jobs. He said that it is not about eliminating human resources, but about complementing people’s abilities and speeding up efficient improvement. business.
RFPIO’s vice president of engineering, Manish Bahuna, echoed Morris’ remarks, saying the breakthrough technology has enabled employees to work more efficiently.
AI also promises to leverage India’s semiconductor mission. Jaswinder Ahuja, corporate vice president and India managing director of Cadence Design Systems, said integrating AI into electronic design automation (EDA) will improve chip productivity and speed up the design process.
Of course, everyone wonders if AI will take my job. But there is no need to fear AI as it will disrupt the way all businesses work today. By enabling efficiency, creativity and innovation, AI will only make humans more efficient, not replace them, said Tanu Banerjee, partner at Khaitan & Co.
