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How AI and ML is Set to Transform Healthcare and Agriculture in India

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When the whole world seems to come to a standstill because of the COVID-19 pandemic, the two sectors that have become extremely critical are agriculture and healthcare. Agriculture is the backbone of any economy, and it has become all the more important during this crisis to keep the global food supply chain running smoothly to ensure that there is no food crisis. On the other hand, the healthcare sector is the most stressed out sector right now that is working hard to ensure the health and safety of the population. While technology has played a critical role in ensuring business continuity across various sectors, let us take a look at how the latest technologies like AI and ML are set to transform these two critical industries. AI in Agriculture The food crisis has plagued the world for l...

Conceptualizing AI as a General Purpose Technology

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AI’s true potential emerges from its ability to drive transformation across multiple sectors through diverse range of applications. Research suggests that we can best understand the implications of AI by viewing AI as a General Purpose Technology (GPT). AI as a GPT implies, that AI led innovations will be reflected not only as direct contribution in the sectors it is applied to, but also drive complementary innovations and spillover benefits across the economy. Source: Implications of AI on Indian Economy “For more than 250 years the fundamental drivers of economic growth have been technological innovations…… The most important general-purpose technology of our era is artificial intelligence, particularly machine learning.” —Erik Brynjolfsson and Andrew McAfee, 2018 Three critical fe...

How to Become a Collaboration Expert at the Workplace by Using AI?

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Online tools have transformed the way we work, innovate, meet, and collaborate. The current cloud applications have fully enabled teamwork to remote members, cut down blockades, and made collaboration simple. We recognize these benefits now, and we’re on the verge of tremendous growth with the guidance of artificial intelligence (AI) in the workplace. At present, AI is growing speedily. Thanks to the more massive, more structured data sets and improved computer processing power, machines are promptly learning how to learn, understand, translate complicated information, and make smart data-driven decisions. Intelligent machines bring in the latest smart automation to our personal devices and the workplace.   For our journey into how AI will improve collaboration, we concentrate o...

Implications of AI on the Indian Economy

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AI’s transformational potential stems from its ability to lend itself to diverse range of applications across a range of sectors. The study is based on the understanding that the implications of AI can be best understood by viewing AI as a General Purpose Technology (GPT). AI as a GPT implies that AI led innovations will be reflected not only as direct contribution in any given sector, but also inspire complementary innovations and spill over benefits across the economy. The objective of this report is to estimate the impact of AI on Indian economy. The report also provides policy recommendations that can enable the sustainable growth of the AI ecosystem in India. These include actionable policy steps that are individually important to the implementation of a large-scale AI program. Report...

Towards an AI Revolution: OpenAI’s GPT-3 is a big leap forward

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Did you know AI can now produce poetry and write fiction? That is not all it can also generate CODE ! Isn’t that amazing ! OpenAI’s newest AI language model – GPT-3, is trending all over the internet! Source: Unite.AI Background Elon Musk and Sam Altman started OpenAI in 2015 to advance the state of the art of AI and to ensure AI was used for the human good. OpenAI recently released the third version Generative Pre-training Transformer (GPT) – GPT-3. They first described GPT-3 through a research paper published in May but last week rolled out a beta version access to a select set of people and its capabilities are mind blowing! What is GPT-3 and why is everyone talking about it? Here are some quick pointers to help you understand what GPT-3 is, and why it is a step towards an A...

Globotics: The future of work and workforce

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By Rohit Madhok, Vice President, Engineering, GlobalLogic India When Albert Einstein spoke of how the human spirit must prevail over technology, little did the world know that decades later this statement would hold true for the human race trying its best to stay relevant in the world of ‘Globotics’. This interesting term has kicked up quite a storm recently when globalisation expert Richard Baldwin wrote on the fast-paced effects of digital disruption and the need for humans to adapt to the inevitable transition. In simpler terms, Globotics refers to robotics in times of globalisation. Since liberalization in the late 90s, globalisation has been opening up new avenues in different parts of the world by bringing in innovations and machines into a world that was striving to connect people a...

Role of AI in data-led digital transformation: 10 Key Takeaways from #TwitterChat

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AI is transforming businesses and organizations across various industries are harnessing the power of AI to automate mundane, time-intensive tasks to make data-driven decisions and improve operational efficiency. NASSCOM Insights hosted a Twitter Chat via @NasscomR on 16th June, 2020 and it witnessed huge success. The theme of the discussion was “The Role of AI in data-led digital transformation” and the invited guests were Dr. Reema Aswani, AI Research Specialist, NASSCOM Research, Vijay S Bhaskaran, Partner Intelligent Automation Leader, EY and Rimjhim Ray, Co-Founder, Spotle.AI. Here are my key takeaways from the Twitter Chat Accelerated growth in organized retail and e-commerce will bring AI-led disruption opportunities Indian Retail is one of the top five retail markets in...

NASSCOM Retail Tech Day 2020: Transformation Through Innovation

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The retail industry in India is considered one of the top five retail markets in the world by economic value. Before the global pandemic, it was expected to double by 2024 and reach USD 1.4 trillion. Within a fortnight into the COVID-19 crisis the retail industry losses crossed USD 30 billion and the number has only been on the rise. At a time when the entire nation and world are looking forward to a revival – the resurgence of the retail industry will be a key driver for social and economic recovery. And this will only be possible with technology at the forefront! NASSCOM 10,000 Startups is pleased to present a two-day virtual conference with interactive sessions focused on retail technology – NASSCOM Retail Tech Day 2020: Transformation Through Innovation. So, brace yourselves for immers...

#RetailTech: Prioritising AI opportunities in retail – Retailers’ guide to identify the right AI use cases

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A critical element for success of AI initiatives is to pick the right use cases that create long-term value for the enterprise. My previous article on AI use case landscape in retail: Guide to start your AI journey showcases a periodic table highlighting the breadth of AI use cases that retailers can implement today to start their AI journey. However, it is important that they prioritise the right use cases to accelerate their AI journey and this article talks just about that. Source: MarTech Advisor A comprehensive framework encompassing all the vital parameters is necessary before making the business case for working on an AI use case. Enterprises need to evaluate the use cases thoroughly based on their organisation’s priorities, vision, road map, culture and capabilities. Here is ...

#RetailTech: AI use case landscape in retail – Guide to start your AI journey

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9 out of 10 retail enterprises who implemented AI are still not entirely satisfied with their AI implementations Globally, retail organisations are at varying levels of AI adoption across the value chain segments. Very often, enterprises that are starting their AI journey, quickly jump to an assumed end state and start working on a use case without completely understanding feasibility and/or resultant benefits. This results in enterprises facing one or more of the following scenarios: Not fully being able to realise the ROI of their initial AI investments Understanding the transformation potential of the technology Losing the initial momentum when their initiative hits a roadblock To avoid this common pitfall, our recently launched report on Indian retail: AI imperative to data-led disrupt...