As the digital world continues to envelope the physical world, there is a data explosion underway. Business leaders, today, want to know, “How do I make sense of it all?” “How do I build intelligent systems to not only intuitively interact with customers, but also effectively guide me to better decisions?”
AI, cognitive services and Robotics are amongst the most disruptive forces across business sectors today. In fact, some of the advances in the AI space, like image-recognition, automation and natural language processing are game-changers, shifting business strategy to become experience-centric.
India’s role in this evolution is evident from a report that the government's policy think tank, Niti Aayog released this June. The paper titled "A National Strategy for Artificial Intelligence" pitches India as the ‘AI garage for emerging economies’ and identifies key sectors that AI could positively impact - healthcare, education, agriculture, physical infrastructure and transportation.
India already houses some of the world’s most progressive data startups’ and innovation centers for leading data giants. Interestingly, a recent study by IDC and Microsoft states that by 2021, 60% of India’s GDP will be derived from digital products and services. Add to this, the fact that 62% of prominent research publications on future technologies is being authored out of the subcontinent. In spite of the rich environment in India, enterprises here are struggling to capitalize on data, a virtually inexhaustible asset.
The ask, today, is for business leaders to realign organization structures, establish new metrics and re-architect technology platforms. This incorporation of digitization and nurturing of an information ecosystem will ensure that businesses stay competitive.
