There exists a technology that performs all the heavy work on behalf of humans after imitating human cognitive abilities, it is commonly known as AI. Artificial Intelligence (AI) is a result of theories, algorithms, techniques and sciences that lets machines perform complex tasks that require perpetual learning, memory organisation and critical reasoning. It can be regarded as a result of a technological blow that came around sixty-six years ago from John McCarthy of MIT (Massachusetts Institute of Technology) who is considered the founder of the discipline of Artificial Intelligence.
Unprecedented Transformation through AI
Haptik, a Jio platform announced in October 2021 the launch of a self-serving Enterprise CX platform. The company claims that Intelligent Virtual Assistants could go live in a matter of a few days after being constructed in a low code environment. Gartner, a research company has estimated the Conversational AI Platform market to be $2.5 billion in the previous year with a staggering stroll of 75 per cent every year.
Unprecedentedly, the world is being transformed with AI(Artificial Intelligence). It is anticipated that with human and machine collaboration, the future will be equipped with technologies capable of creating prototypes the world hasn’t witnessed before. While many believe that AI would kill jobs, rendering many people jobless, there is still hope displayed by many AI enthusiasts that more jobs would be rather created than eliminated. These would require new skills and a different work environment but would surely give rise to new roles in jobs.
The flagship event, Innovation Summit India 2021 hosted by Schneider Electric witnessed many great speakers who spoke about the role of digital in sustainable development and economic growth. Among the many speakers was Amitabh Kant, the CEO of Niti Aayog who laid focus on the fact that from gaming, learning and health to transport, manufacturing and agriculture, start-ups in India are going beyond their potential and unleashing opportunities for innovation in almost every sector.
Creating a scope of opportunities in AI
A flagship initiative titled ‘Atal Tinkering Laboratories’ under the ‘Atal Innovation Mission’ by the Niti Aayog of the GoI(Government of India) was launched in recent years. The aim is to provide a platform and opportunities for collaboration to different stakeholders while developing new policies and programmes for fostering innovation in different sectors of the economy.
State governments have also come up with many courses to promote AI among students.
Centre of Excellence in Bangalore was launched by the Karnataka government exclusively for data sciences and AI. IIT- Hyderabad and Telangana University have full-time BTech programmes in the field of AI. Specialised AI courses are also being offered in many other engineering colleges. Ed-tech companies also crave a portion of the AI pie so they are partnering with engineering institutions to hire many students at a given time because they don’t have any physical space constraint as they function virtually.
With the digital transformation of the world, India needs to invest in a world that is driven by AI enhancement and next-generation technologies like AI and machine learning, robotics and automation, blockchain, cybersecurity, etc. Rather than putting our focus on scaling innovation, more ways to compete with innovation should be looked into. The ever-growing pace of technologies creates the importance for business leaders to understand the need for AI-based technologies and the positive future potential it holds.
The AI ecosystem of India should leave a mark on the world with its AI workforce similar to how the IT industry has put India on the global map.