AI: Celebrating the Minds Behind the Machine on AI Appreciation Day!

“There are 2 ways in which I think generative AI is going to empower us to strengthen our future economy. In the space of education and skilling, I think AI is going to be revolutionary in its ability to provide a robust system of support for teachers and youths. Especially when it comes to balancing administrative duties such as attendance, assessments, corrections, and making creative assignments. This will allow them to focus more on how to make learning a more exciting and fun process. The other segment in which AI will facilitate an ease of work is small businesses and entrepreneurs. Where previously they were unable to hire big-time agencies to expand their operations, they can now get a surprising amount done by leveraging generative AI. Be it creating a branding strategy, making creative posters, doing copywriting or even creating a preliminary budget – AI can provide all kinds of support to a variety of small businesses and help take India’s economy to another level.” –  Manav Subodh- Managing Director, 1M1B (One Million for One Billion)- An organization creating India’s largest Future Tech- Ready Workforce

“On AI Appreciation Day, we recognize the extraordinary influence of artificial intelligence (AI) on many commercial entities, including the Electric Vehicle (EV) business. AI acts as a catalyst, simplifying operations, increasing efficiency, and stimulating development. AI liberates employees by automating monotonous jobs, allowing them to focus on sophisticated and imaginative endeavours. AI reduces errors through its accuracy in data processing and decision-making, resulting in increased production and customer satisfaction. Businesses must incorporate AI into their workflows, embracing AI-driven solutions that allow smooth operations and improve decision-making processes.

As with other businesses, AI is also helping the EV industry in many ways. AI improves EV performance by automating operations and enhancing battery management systems via enhanced data processing, maximizing efficiency and battery longevity. This promotes EV growth by providing consumers with increased dependability and driving range. Furthermore, AI enables manufacturers to customize EVs based on data insights, matching with market expectations and consumer satisfaction, resulting in additional market development.”  –Mukesh Kumar Bansal- CTO of TelioEV- EV Charging Management Solutions provider company.

“As the Founder of a D2C fast fashion brand in the lifestyle industry, I genuinely appreciate how AI is revolutionizing our work. It has become an invaluable tool, easing various aspects of our business and driving growth. AI has greatly benefited us, particularly in demand forecasting and inventory management. By analyzing historical data and market insights, it accurately predicts customer demand and optimizes inventory levels, leading to improved customer satisfaction and increased sales. Furthermore, AI-powered chatbots and virtual assistants handle queries, recommend products, and process transactions, freeing up human resources for more complex tasks. Moreover, AI-driven data analytics have empowered us with valuable insights into customer preferences, market trends, and competitor analysis. This informs our decisions on product development, marketing strategies, and pricing, resulting in more targeted and effective campaigns. Overall, I deeply appreciate AI and its transformative impact and I am excited about the endless possibilities it holds for the future of our business and the industry.” –    Ilesh Ghevariya, Founder and CEO, French Crown- Fast Fashion D2C Brand

The transformative force of AI technology is reshaping the landscape of the fintech industry. AI’s contribution to business is akin to a powerful catalyst igniting a revolution in this space. Just as electricity powers our lives, data fuels the engine of fintech, and AI technology is the key that unlocks its true potential.

In the realm of digital lending, where the aim is to provide accessible financial solutions to MSMEs, AI emerges as the driving force behind a seamless loan cycle. With its ability to swiftly evaluate customer eligibility, leveraging KYC and BS data within seconds, and executing the entire process digitally without human intervention, AI paves the way for a remarkable customer experience.

Gone are the days of exhausting credit assessments and cumbersome risk evaluations. AI, with its unparalleled capacity to process thousands of data points, empowers lenders to gauge the creditworthiness of numerous customers efficiently and accurately. By reducing time, effort, and cost, AI models enable the creation of innovative algorithms that assess risk, segment customers, and offer tailored services. This, in turn, not only puts more underserved individuals and businesses on the financial map but also propels India’s growth trajectory to new heights.

The possibilities created by AI technology are truly exciting and we are truly building a Bharat on the blocks of technology.  -Manish Bhatia, President – Technology, Analytics, New Capabilities at Lendingkart

“The adoption rate of AI in India has been growing consistently, especially in sectors like healthcare, retail, BFSI, manufacturing, and e-commerce. The Dell Technologies 2023 Innovation Index report stated that 59% of Indian businesses are currently investing or exploring the feasibility of investing in AI, Machine Learning and advanced analytics to advance innovation for their growth. AI has been simplifying crucial business processes and helping enterprises boost their analytics, strengthen the value chain, and make business processes cost-effective while improving customer experience. For any business with a digital-first approach, AI has become a key component of their growth roadmap. This underlines the need for developing a sound AI strategy—moving from AI-possible to AI-proven—encompassing technology, people, and processes. With automation and security, AI has the capability to accelerate digital transformation enabling faster time-to-market, improved customer experiences, and an unmatched efficiency.

The successful adoption of AI requires a robust IT infrastructure, network architecture, and data framework which can support the development and deployment of AI models at scale. AI automation and operation platforms will solve business problems and run projects from conception to production. According to the Dell Technologies 2023 Innovation Index report, 62% of organizations plan to increase spending on AI, including people, processes, and technology. By overcoming challenges and following best practices such as identifying objectives, choosing the right AI tools, and analysing the performance, organizations can develop an AI strategy that delivers real business value while mitigating risks and ensuring ethical use of the technology.

With the emergence of Generative AI, new business opportunities will be open for exploration to help with higher-level of decision-making. This will allow us to effectively reach more customers, and provide better outcomes at the workplace, along with a profound potential to automate complex processes, improve customer interactions and unlock new possibilities with better machine intelligence.” – Mr. Manish Gupta, Vice President, Infrastructure Solutions Group, Dell Technologies India.

“From the inception of fire to the brilliance of smartphones, the human history is marked with innovations that have upended civilizations, reshaping our lives in unimaginable ways. We are on the cusp of the next technological revolution, the dawning age of artificial intelligence – an invention that, in retrospect, may leave us wondering how we existed pre-AI.e

The technological trail we’ve blazed, studded with milestones like the wheel, electricity, and the internet, has always been an upward trajectory, nudging us towards progress. These tools, crafted by human ingenuity, were extensions of our faculties. Yet, now we’re on the precipice of a new paradigm, where technology doesn’t just augment, but could emulate, our intellectual capacities. And it is only natural for us to feel apprehensive.

Certainly, technology’s duality is undeniable – a nurturing fire can also turn into a destructive force. However, its beneficial uses have always outweighed the nefarious, a pattern we have the power to ensure continues.

As a species marked by resilience, resourcefulness, and creativity, we will channel the might of AI to further elevate humanity. By relinquishing the mundane to our AI counterparts, we will unshackle ourselves, unlocking a new era of human fulfillment and enjoyment.” – AJ Sunder, Chief Product Officer and Chief Information Officer, RFPIO

“As AI takes center stage globally, it stands at the precipice of revolutionizing our society, propelling us forward with unparalleled social and economic growth while opening new avenues of existence. Its impact is set to surpass even that of the internet, permeating every aspect of our lives and reaching every individual. With responsible and equitable application, AI has the potential to lead humanity into a new era of progress.

The advent of Generative AI promises transformative changes across various industries and disciplines, empowering individuals, and businesses alike to create and access, sparking a wave of productivity enhancements. It will also play a pivotal role in transforming healthcare, offering immense opportunities to improve patient outcomes, enhance diagnostic accuracy, and streamline medical processes. By striking a balance between technological advancements and human expertise, AI can usher a new era in healthcare delivery, making it more efficient, accurate, and patient-centered. In future, healthcare services will be more affordable and accessible based on advances brought by AI.

As AI evolves rapidly, navigating its power requires careful consideration. Yet, it is undeniable that future generations will marvel at how we once lived without the transformative capabilities of AI. Responsible adoption, with a focus on fairness and ethics, will be key to unlocking its full potential and ensuring that its benefits are accessible to all.

The widespread adoption of AI, including Generative AI, will drive unprecedented advancements, reshape industries, and solve complex challenges. This exciting journey combines human ingenuity with artificial intelligence to co-create a future beyond imagination. Together, we can shape this AI-powered world, paving the way for progress, prosperity, and a brighter future for generations to come.” – Ram Singampalli, Chief Delivery Officer, Emids.

“AI is the gateway for a brighter future that would impact every aspect of human endeavor to build a better world. We can see a clear example of this with SpringML’s pothole detection project for the City of Memphis. We worked closely with them to not only identify 75% more potholes but also reduce city claim costs for damage due to unaddressed potholes, resulting in significant savings for the city. This also helped Memphis create safer neighborhoods that will be more attractive to businesses and home buyers.

PwC UK and Microsoft predict that by 2030, the use of AI for sustainable technologies could add up to USD $5.2 trillion to the world economy. AI is significantly changing every industry and I believe we are just getting started.” – Raja Poladi, Head of India Development Center, SpringML, Inc.

“In the ecosystem of software development, the adoption of workplace AI is already having a positive effect on daily operations, but its impact on recruitment, productivity and talent management hasn’t yet come close to being realized. Finding ways for AI to enhance hiring and worker experience, as well as reward culture and performance gains, will translate directly to better future of work environments and bottom-line returns. Adding intelligent technologies is about augmenting human resources and providing greater opportunities to innovate. AI’s promise is not about replacing people and eliminating jobs — AI complements and speeds a person’s capabilities and communication mediums to efficiently and cost-effectively improve worker and customer experience, the products created, and ultimately higher satisfaction for an entire talent network.” – Michael P. Morris, CEO | Co-Founder| Board Member for Torc

“In the era of exponential growth driven by transformative technologies, AI has emerged as an indispensable ally for businesses. With the rapid growth of Generative AIs such as ChatGPT, Bard, DeepMind, etc., businesses are ready to harness the true potential of AI, which is believed to transcend boundaries and ride the future waves of disruption. Coupled with a modern data stack and traditional NLP engines for pre-processing, governed by Responsible AI principles, Generative AI can unleash limitless possibilities driving enterprise agenda through technology. Witnessing the evolving trend of customers across industries experimenting several business use cases in this space, it is evident that “the future is already here”.  – Karthikeyan Sridossan, Executive Vice President – Strategy & Growth, Indium Software

“Artificial Intelligence (AI) has transformed numerous aspects of our daily lives and is profoundly impacting the way businesses operate. With the release of ChatGPT and the transformative leap in large language models, enterprises are accelerating their plans to modernize customer experience (CX). Leaders within the CX domain will harness AI to analyze customer data, personalize interactions, and deepen customer engagement across various touchpoints. In contact centers, AI is automating routine tasks, augmenting human capabilities, and transforming the agent experience. AI-based tools such as speech analytics help brands uncover customer pain points and proactively resolve issues before they escalate.

Generative AI will make it possible for firms to respond faster to a wider range of user requests. It will also enable them to efficiently run targeted conversational marketing, sales, and customer service campaigns. This is just the beginning. Brands must build their roadmaps, planning how they will leverage AI to its full potential, so they can strategically deliver value to customers and create better experiences for them” – Chaitanya Chokkareddy, Chief Product Officer, Ozonetel.

At Spectra, we acknowledge the remarkable advancements and contributions of Artificial Intelligence (AI) across various industries. We recognize the immense potential AI holds in revolutionizing every aspect of our lives. As technology continues to progress, AI’s capabilities will further evolve, making it a true game-changer in every industry.

Understanding the pivotal role AI is playing today, we have developed Spectra AI.VIS, our cutting-edge AI-based video analytics solution that seamlessly integrates with existing CCTV infrastructure to automate business operations, monitor and safeguard premises and employees and predict business trends while eliminating manual errors. – Udit Mehrotra, MD and CEO, Spectra

“With ChatGPT and BART in the ecosystem, AI has brought a revolutionary change in how businesses work. Not just convenience and speed, AI has rewarded with accuracy, efficiency and accessibility. Beyond the convenience of business, AI has evolved its role from being a work-doer to also the protector of businesses digitally from uncertain brand threats. Using the capabilities of AI, businesses can proactively identify unidentified threats and protect their brand image from their impact.”  – Amit Relan, Co- Founder and CEO, mFilterIT

At Aretto, our work culture is driven by a shared vision of excellence and innovation, and AI plays a crucial role in shaping our success. With AI technology, we strive to streamline processes and provide exceptional customer experiences. We leverage the power of AI to enhance our customer support and optimize our marketing analysis. Through AI-powered chatbots, we provide prompt and personalized assistance to our customers, ensuring a seamless shopping experience. By automating routine tasks and handling basic inquiries.  Moreover, AI plays a pivotal role in our marketing analysis efforts. By analyzing vast amounts of customer data, AI algorithms provide valuable insights into consumer behavior, preferences, and trends. This enables us to customize our marketing campaigns and product offerings to meet the evolving needs of our target audience. AI algorithms also help us identify patterns, detect anomalies, and forecast demand, enabling us to make data-driven decisions for inventory management, pricing strategies, and product development. The integration of AI in our customer support and marketing analysis empowers us to deliver exceptional customer experiences, optimize our operations, and stay ahead in a competitive market. We are committed to leveraging cutting-edge technology to continuously improve our services and meet the ever-changing demands of our valued customers. – Krutika Lal, co-founder and chief marketing officer (CMO), Aretto

As technology continues to advance, we anticipate AI playing an even more integral role in transforming industries. From personalized customer experiences to predictive analytics, AI will enable businesses to further tailor their offerings, anticipate market trends, and deliver exceptional value to customers. At Expand My Business, we embrace AI as a powerful tool that helps us navigate the complexities of the business landscape. As we celebrate AI Appreciation Day, we eagerly await the limitless opportunities that artificial intelligence presents. Gear up for a thrilling future where AI consistently propels businesses towards unthinkable achievements. – Nishant Behl, Founder of Expand My Business

The potential of AI to revolutionize our lives is tremendous, bringing about increased ease, efficiency, and productivity. While concerns exist about AI leading to job losses, I firmly believe that it will not eradicate jobs but rather transform them. AI will automate many tasks currently performed by humans, but it will also pave the way for new job opportunities that we cannot even fathom today. To truly harness the power of AI, it is essential that we embrace it rather than fear it. Collaboration with AI, rather than opposition, is the key to success.

In the corporate wellness industry, AI holds the power to reshape how we design and deliver employee wellness programs. By leveraging AI, we can create highly personalized programs tailored to the specific needs of each individual employee. Additionally, AI can play a vital role in collecting and analyzing data related to employee health and well-being. This wealth of information can then be utilized to develop customized wellness initiatives for every employee, as well as track their progress and measure the outcomes.

Furthermore, AI can offer real-time feedback to employees, empowering them with immediate insights into their health and well-being. Virtual coaches powered by AI can provide continuous support and guidance to employees on their wellness journeys. Additionally, the gamification of wellness programs through AI can make the process of improving health and well-being enjoyable and engaging for employees. – Amit Vasistha, Founder and CEO, MyGALF

“I’ve seen firsthand the transformative power of Artificial Intelligence, not just in India, but worldwide. It’s been an incredible journey witnessing how AI, often working unseen in the background, has revolutionized processes, making them more streamlined and efficient. From personalizing digital interactions to improving healthcare systems, AI’s impact has been profound and pervasive. But, we’re just at the dawn of this technological era. As we delve deeper into the AI frontier, its role will only become more intrinsic to our everyday lives, unlocking potential in unimaginable ways. As we celebrate AI Appreciation Day, it’s also a moment to recognize our obligation to guide this powerful technology ethically, ensuring it continues to benefit all of society.” – Samanyou Garg, Founder & CEO, Writesonic.

 “In the pursuit of business excellence and the realization of corporate strategy, it is essential to acknowledge the role of unconscious biases and ethical considerations in the deployment of AI technologies. As we witness a significant shift in the landscape of work, it becomes crucial for organizations to recognize the potential biases embedded within AI systems and algorithms, reflecting the societal shortcomings that exist. As leaders, we must take responsibility for navigating and managing the trust gap that arises with the advent of disruptive technologies.

“I strongly believe that in today’s healthcare landscape, integrating AI is no longer a choice, but a strategic imperative. AI is a powerful ally that can augment the capabilities of healthcare professionals and revolutionize patient care. In India, where population density and resource constraints pose significant challenges, AI presents an unparalleled opportunity to bridge the gaps and provide accessible, affordable, and quality healthcare to all. From early disease detection to personalized treatment plans, AI can revolutionise approach to healthcare delivery. Further, AI can be used to harness the power of predictive analytics to identify high-risk individuals. It can also be used to streamline administrative tasks and optimize resource allocation, which frees up healthcare professionals to focus more on delivering care to patients. Having said this, to strengthen public and professional trust in AI in healthcare, technological advances need to go hand in hand with appropriate governance around data privacy, security, and the ethics of AI.” –Arvind Vaishnav, Head of Clinical Partnerships, Growth Region and Philips Innovation Campus, Bangalore.

“Artificial Intelligence (AI) has emerged as a revolutionizing force that changes the way we innovate and interact with technology. Its transformative power extends far beyond automation and efficiency, shaping the very fabric of our society and planet. While it can contribute to environmental sustainability through various applications, it also presents challenges. Large-scale AI workloads and advanced data analytics demand higher energy consumption. The MIT Technology Review reported that training just one AI model can emit more than 3,00,000 kilograms of carbon dioxide equivalent – which is nearly five times the lifetime emissions of an average car. To lessen the environmental impact of AI, it’s important to invest in sustainable practices like green data centers using all-flash storage which have lower energy and cooling requirements. Additionally, addressing issues of bias and ensuring transparency in AI systems can contribute to fair and equitable environmental decision-making.” — By Ajeya Motaganahalli, VP, Engineering and Managing Director, India R&D,  Pure Storage

“With significant achievements in AI technologies, access to a wide range of datasets, and low-cost storage and computing power, the impact has been transformative in recent years. In the future too, developments in Natural Language Processing and Contextual Understanding will enable systems to provide a hyper-personalized experience – interacting with customers with a stronger understanding of their preferences, behaviors making personalized recommendations, offering customized offerings, understanding emotions and complex language nuances so well that people are not likely to make out the difference between a human and a virtual assistant or a chatbot. AI-driven technologies such as Computer Vision, Augmented Reality, and Virtual Reality will see more innovative use cases in the day-to-day aspects of our life, creating differentiators for businesses and enriching the customer journey.”– Mr. Siraj Ali Mohamed, Director- Data and Analytics, Experion Technologies

“There has been a huge watershed moment for Artificial Intelligence after ChatGPT was unveiled. AI has applications in a lots of engineering fields including automation of tasks, which massively boosting productivity and propels the economy forward. Considering how it will replace traditional IT jobs, students with AI specialization will certainly have a competitive advantage in coming years. Since Artificial Intelligence is still a nascent field – it has a lot of scope for study, research breakthroughs and coming up with new algorithms. Now is the right time for educators to skill students on AI fundamentals so that they can seize it at the right time and build upon their skillsets as the research advances.”– Mr. Karun Tadepalli, CEO & Co-Founder, byteXL

“Artificial Intelligence has revolutionized technology consultancy, empowering consultants with enhanced problem-solving capabilities and streamlined decision-making processes. This new era of expertise, empowered by intelligent algorithms, is shaping the future of businesses in the digital age, delivering unparalleled value to clients, and transforming the field of technology consultancy. AI is poised to further transform the seamless digitization and automation in India, bringing about significant advancements and opportunities across various sectors. As AI continues to advance, India stands to benefit from its transformative potential. By embracing AI-driven digitization and automation, India can pave the way for improved governance, enhanced customer experiences, advanced manufacturing practices, accessible healthcare, quality education, sustainable agriculture, and efficient transportation systems.”- Mr. Anwar Hussain, Director of AI/ML & DevSecOps, CriticalRiver

Driving intelligence at the edge  : The amount of data generated by smart edge devices and a large number of ingestion points can overwhelm compute, storage and networks at the edge. AI can enable edge-level analytics to process and selectively pass on data during ingest, create different tiers of data service, and speed up data movement. 

Increasing performance at the core : The network core is the heart of organisations’ AI data pipeline, and it demands high I/O performance. There is room for AI to be deployed to preprocess data and feed the data to the neural networks for model training, removing performance bottlenecks and accelerating AI workloads. 

Accelerating analysis in the cloud : AI and the cloud are natural bedfellows, with the cloud offering an ideal environment to develop AI workflows, run proofs of concept, and form a foundation to expand on. With the right guidance, more organisations can take advantage of this synergy going forward. 

 To unleash the full potential of AI, it will be essential for organisations to build a data pipeline or fabric that spans across on-premises, hosted data centre and hyperscaler cloud, with real time visibility and manageability. This will let organisations harness all available information in real time and ultimately, maximise business impact. 

 The future of AI is dazzling, with many more applications expected to emerge over the next year that we don’t yet envision today. Hold on tight for an exhilarating ride. – Puneet Gupta, Vice President, and Managing Director at NetApp India/SAARC 

“A day dedicated to recognizing the transformative power of Artificial Intelligence (AI) is a day to be celebrated. On Artificial Intelligence Appreciation Day, we need to embrace the vast impact AI has on various industries and society, combined.

At Meesho, we uphold AI as a key catalyst for innovation, efficiency, and personalized experiences. Our firm conviction lies in utilizing the full potential of AI to empower millions of small and medium-sized businesses (SMBs) in India, thereby reshaping the future of e-commerce. We remain committed to leveraging AI comprehensively to enhance the e-commerce experience of millions of users in the country.” – Debdoot Mukherjee, Chief Data Scientist and Head of AI, Meesho

In today’s rapidly evolving world, artificial intelligence (AI) has permeated various aspects of our lives, becoming an indispensable component of modern technology. Its potential has been duly recognised by businesses across industries, and the impact of AI is already being felt in enterprises worldwide. With the advent of advanced AI systems like ChatGPT, businesses have experienced significant transformations. One of the key advantages is the automation of repetitive and mundane tasks, liberating employees to focus on higher-value activities. AI-powered software and systems have taken charge of data entry, customer support, and basic analysis, resulting in increased productivity and efficiency. The ability of AI to process vast amounts of data has revolutionised decision-making in businesses. Through data-driven insights, AI enables companies to optimise processes, drive growth, and make informed decisions. Predictive analytics empowers businesses to anticipate customer behavior, accurately forecast demand, and optimise inventory management and pricing strategies. This level of data analysis and forecasting helps companies stay agile and competitive in dynamic markets. At Aeris Communications, we use our AI capabilities to enable predictive maintenance to become more precise, usable, and automatic thanks to intelligent, deep-learning robots. We provide enterprises with top-notch networks that can accommodate a wide range of AI applications. We collaborate with manufacturers who are interested in implementing AI to enhance their manufacturing processes and machines with predictive maintenance capabilities. –Sameer Mahapatra- Country Manager-India & SAARC, Aeris Communications

As we recognize AI Appreciation Day, it’s hard not to reflect on the incredible impact that this technology has had on our lives. Intuit has truly embraced the power of AI and in 2019 we also declared our strategy to become an AI-driven expert platform. With over 730 million AI-driven customer interactions, Intuit has revolutionized the way that we do business and deliver our over 100 million consumers and small business customers with 3 benefits: more money, less work, complete confidence. It’s no secret that Intuit has always been at the forefront of innovation. By using machine learning algorithms, Intuit has been able to provide our customers with a and personalized experience that is tailored to their unique needs and preferences.

What’s truly exciting about Intuit’s use of AI is just how much it has transformed the lives of customers through products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp. From automatically categorizing transactions to providing personalized insights to producing email marketing content more efficiently as a complement to our in-house developed and open source models, AI has allowed Intuit to provide a level of service that was once unimaginable. And now fuelled by the introduction of our proprietary Intuit GenAI Operating System (GenOS). The Intuit GenOS empowers Intuit technologists to design, build and deploy breakthrough GenAI experiences with unparalleled speed. As we celebrate AI Appreciation Day, let’s take a moment to recognize just how much this technology has transformed our world. From making our lives easier to improving our businesses, the potential of AI is truly limitless. And with companies like Intuit leading the way, we can’t wait to see what the future holds! – Prashanth Seshadri, Director AI, Analytics & Data, Intuit

“AI has emerged as a catalyst for change, unlocking and extracting value from data, thereby redefining the possibilities and propelling organizations towards unprecedented levels of efficiency, productivity, and growth. It has reshaped our work landscape, enabling businesses to adapt and thrive in the face of technological advancements and evolving customer expectations. At Pitney Bowes, we have embraced AI as a core component of our business strategy, recognizing its potential to solve macroeconomic challenges, that we observed during COVID and forecast them for the future. The results have been remarkable, particularly in our shipping and logistics operations, where AI-driven algorithms have played a crucial role. By harnessing the power of AI, we have optimized our route planning, reduced delivery time, and enhanced the overall efficiency of our shipping processes. The real-time analysis of various data points such as package dimensions, weight, delivery location, and traffic conditions enable us to make data-driven decisions that drive cost savings and customer satisfaction.

Moreover, AI has enabled us to transform data into a valuable product. Through advanced machine learning techniques, we analyze vast amounts of customer data, leveraging AI to understand customer preferences, anticipate their needs, and deliver personalized experiences. This data-driven approach has not only improved customer satisfaction but has also translated into increased sales and strengthened customer loyalty. In essence, AI has become an integral part of our work at Pitney Bowes, solving macroeconomic challenges, leading to AI-driven shipping and mailing. It has fundamentally transformed the way we operate and has become a driving force behind our success. By embracing the potential of AI, businesses can unlock new possibilities, reimagine processes, and deliver exceptional experiences that propel them into the future, where data becomes a valuable product.” –Pankaj Sachdeva, Vice President, Data Science & Analytics and Managing Director, India Innovation, Pitney Bowes

“The rise of AI tools like OpenAI and BARD, coupled with the push for Artificial General Intelligence (AGI), has ignited enthusiasm in the industry, resulting in experts projecting significant growth. UBS Global Wealth Management predicts a 20% annual growth rate, with the market value reaching $90 billion by 2025. AI has become the daily bread and butter for businesses, offering a new world of possibilities and challenges.

 Advancements in machine learning and generative AI have turbocharged operational efficiency and supercharged data-driven decision-making. AI’s transformative capabilities propel businesses to new heights of success. To navigate this transformative journey, businesses must embrace the Three Ds of AI: Data, Dynamic nature, and Deployment. Deployment unleashes the full potential of AI, providing insights, enhanced experiences, and competitive advantages. Establishing ethical guidelines, collaborating with legal teams, and driving effective change management are crucial steps in this process.

 Embracing AI as a necessity for growth and operational efficiency requires crafting an AI strategy blueprint, enhancing data literacy, and embedding conscientious practices into the organizational culture. Seize the opportunity, unlock AI’s potential, and shape a successful future for businesses. – Manuj Desai, Global Chief Information Officer at STL

“Recent advances in artificial intelligence/ AI have resulted in meteoric rise in use of AI based tools by organisations across sectors. With launch of new generative AI models such as OpenAI’s Chat-GPT, Google’s ‘Bard’, Midjourney Inc’s ‘Midjourney’, Adobe’s ‘Firefly’, and other generative AI models for public, the adoption of AI has rapidly increased across various sectors and applications. There is no doubt that AI is set to transform the way any business operates. Business leaders across sectors are increasingly investing in adoption of AI based tools, that can enhance efficiency by automating routine tasks, analyse data, enhance customer experiences, and drive innovation. The future of AI is certainly bright. However, the current nascent AI landscape has some inherent challenges, for example risks of data security, issues around ownership of AI-generated works, inherent AI bias in terms of producing biased or inaccurate results given the output of an AI tool depends on the data sets it is trained on, etc.
The Indian Government is also cognisant of developments in the AI sector. For example, the MEITY and the NITI Aayog have published reports on AI. The Government has set its aim at “making AI in India” and “making AI work for India” and has announced creation of three centres of excellence which will conduct interdisciplinary research, develop applications and problem solutions. Further, in its recent dialogue with stakeholders, MEITY also indicated that the proposed new Digital India Act, which will overhaul the regulation of the Internet in India, will have AI as a key area of regulation. Given we are still in the early stages of AI adoption, stakeholder engagement in the AI value-chain is vital for developing a safe and user-harm free landscape of adopting AI. – Tanu Banerjee, Partner, Khaitan & Co.

“Artificial Intelligence is already making an impact in the Insurtech segment by triggering the right insurance offerings in terms of personalised pricing, seamless access and product design. Like an evolving basket of personalised choices, AI further enables the right life cycle stage to impact a consumer’s purchase decision. Let’s say a consumer purchases air tickets on a travel portal. AI prompts the consumer to opt for travel insurance at a certain price point in sync with the consumer’s spending pattern. Clearly, data and AI have mapped out a logical reasoning to interlink how the consumer is spending and is likely to spend on different touchpoints. With the right product positioning at the right lifecycle stage, embedded insurance is clearly evolving to become a preferred digital choice.” –Mayank Gupta, Co-founder & COO, Zopper

“Today we operate in a highly interconnected world, but with increasing digitisation, the challenge of cybersecurity has multiplied. Data security, privacy and online safety are already playing a key role in developing digital products, managing businesses, and winning consumer confidence. AI powered technologies are emerging as a strong shield against the rising number and complexity of cybercrime, especially in the last few years. Today, AI is making digital transactions and information exchange significantly safer and secure across industries, while protecting consumers, merchants, and businesses. AI can ensure faster and more accurate detection and prevention of cyber threats, while also pre-empting frauds with minimal false positives.

At Mastercard, trust is at the core of what we do. We leverage AI and ML in our security tools to analyze data from millions of cyber incidents and use it to identify potential threats. We use AI to secure billions of transactions that pass through our network each year; our AI-powered solutions alone have saved over $35 billion in fraud globally in the past three years. Covering more than 14 million entities, we are one of the world’s largest cyber assessment solution providers. With our products we are building AI into various modules within our fraud assessment ecosystem as well as leading cutting-edge work in the field of behavioral biometrics to pre-empt and prevent fraud and make payment a safe and secure experience for everyone.” – Joy Sekhri, Vice President Cyber & Intelligence Solutions, South Asia, Mastercard

AI has revolutionized the way businesses operate, and its impact on the video highlights industry is no exception. At our company, we have harnessed the power of AI to transform the way businesses engage with their audiences through captivating video content. The dynamics of how content is viewed is evolving and it is imperative for content to be relevant, engaging and available to the audience in the form and platform they desire; AI solves this challenge.

AI’s contribution to business is twofold. Firstly, it significantly enhances efficiency by automating time-consuming manual tasks, allowing businesses to allocate their resources more creatively. Secondly, it unlocks invaluable insights from data, enabling businesses to make data-driven decisions and optimize their content strategy.

In this era of information overload, AI empowers businesses to stand out by delivering personalized and relevant video highlights that captivate audiences. As AI continues to evolve, we are committed to pushing the boundaries of innovation and driving even greater value for businesses through our AI-powered video highlights solutions. – Vinayak Shrivastav, Co-Founder and CEO, VideoVerse

Technology is evolving at an unprecedented rate, and businesses that are harnessing the power of AI are at a distinct advantage. It’s evident how AI-powered solutions are enabling companies to optimise their processes, reduce overhead, decrease turnaround time, and improve profitability in the long run.
At AuthBridge, we offer AI-driven solutions to enable a one-stop digital ecosystem for employee, customer, and business onboarding and verification needs. Much of our efforts have been dedicated to applying artificial intelligence and enabling liveness detection, document classification, OCR and biometric authentication for instant verifications. This has ensured we can detect anomalies in the most complex use cases in milliseconds. We have recently deployed AI models for due diligence of loan disbursals.
We keep upgrading solutions built on AI-powered technology to manage today’s problems and help our clients navigate complex challenges. –Ajay Trehan, Founder & CEO, Authbridge.

Wayfair has applied sophisticated machine learning to core problems at the company for the last decade. We have had a long history of using data, analytics and machine learning to personalize the shopping experience for our customers, to ensure that they can find what they are looking for in an easy and delightful way, in a category that is probably one of the hardest to shop and fulfill online. Whether it’s forecasting, marketing, personalized recommendations, pricing, search, supply chain event predictions, text mining reviews and customer feedback, we’ve explored and likely implemented a scalable ML solution to efficiently increase customer and supplier value.

As an extension of Wayfair’s earlier ML approaches, we are also looking at new generative AI solutions. We see potential applications in marketing, customer service, product descriptions and more, and in many of these areas it will be critical to keep a human in the loop to monitor these solutions and the content they produce. For example, in customer service we see a potential for ChatGPT sort of generative text technology. In this case, we still have the customer service agents in the loop, so generated text doesn’t go directly to the customer. The technology will come up with potential text which the customer service agent can use and modify to ensure it has the correct tone and information. – Rohit Kaila, Head of Technology and Site Leader Wayfair India TDC