thanks to Chat GPT And with customer service and service industries likely to lose 1 million jobs in the next decade, there is a debate about entrepreneurship at Indian colleges of technology. The Institute Innovation Council (IIC) of the Ministry of Human Resources Development has recognized this and initiated activities through AICTE and UGC affiliates. It is clear in the minds of the Indian government that India needs to move from a ‘service-based economy’ to an ‘innovation-driven economy’. The benefits of India’s union budget for startups and sustainable entrepreneurship are visible.
The Importance of Entrepreneurship
Desk entrepreneurship is where an inventor pursues a problem, comes up with a ton of ideas, builds a prototype and tests it with potential users, and if positive, launches the product to a larger group. That’s it.
If this process is as simple as it is defined, why has there been only a 1% entrepreneurial success rate in the world over the past century? As mentioned above, it is a skill that can be taught and nurtured in students from school days.
It’s time to say goodbye to the colonial mindset and aim to be a job creator, not a job seeker. India should take a bigger view when joining the World Trade Organization (WTO) and at least wake up to the fact that it cannot be a ‘consumer nation’ forever.
perceive problems as opportunities
Ordinary individuals see problems, but entrepreneurs see opportunities in problems. India is the most populous country and has enough problem statements to satisfy the rising urges of India’s youth. As the world looks to launch its products in India, isn’t it time for Indian entrepreneurs to see and assess the size of the Indian market? Sustainability, affordable housing, processed food, urban agriculture, the environment. , Industrial Efficiency, Smart Education, Efficient Healthcare, Tourism, Cooking & Cooking, Recreation, Fitness, etc. provide ample questioning that could lead to multi-billion dollar enterprises.
Opportunity identification
ChatGPT is probably a good thing for India, as it has clearly woken up and shown the way forward on how services jobs will decline in the next decade. India now has an opportunity to build a platform for sustainable entrepreneurship, go beyond Western-led educational practices and persuade Indian youth to think locally, invent locally and launch locally. increase.
According to market research, India’s beetle bread market is worth Rs 65 crore and this unorganized segment in every corner of the city employs millions of stakeholders. Street vendors, agricultural brokers, expensive labor, local delicacies as processed food for diaspora, affordable mass transportation and communications are opportunities and perhaps what India needs in a sustainable jugaad. deaf.
drive
business growth
Western countries can never match India’s manpower. Defense to aviation, smart cities to consumer electronics, manufacturing to customer care, education to transportation, agriculture to telecommunications, renewable energy to healthcare and everything in between will be reimagined and reinvented based on AI. need to do it. AI is not inherently bad, but it threatens established Western supremacy and, in some ways, seems to democratize the power currently vested in some countries.
Opportunities always come with threats such as cybersecurity, data security, corporate integrity, national security, terrorism, poverty and hunger, mass employment, gender issues, and COVID-19. All of these can lead to unpredictable results. India is entering an exciting phase of world domination with a sudden rise in entrepreneurialism, and Indian technology institutions have the responsibility of ensuring that India achieves world domination.
business topics in engineering
Robotics and autonomous manufacturing techniques have advanced over the past century, but rapid advances in artificial intelligence (AI) and machine learning (ML) have rendered the past century’s progress obsolete.
This has led to the adoption of AI and ML in all disruptive scientific and technological areas, and this niche yet huge opportunity is right at the doorstep of Indian entrepreneurs.
Indian entrepreneurs should be aware that India has 1.5 billion customers for literally any problem, and grabbing some of them is also a multi-billion dollar opportunity.
(The author is a professor in the Department of Computer Science & Engineering at RV University)
