Artificial Intelligence Revolutionising Businesses In India

Although AI was conceived to mimic human intelligence, it has taken off on its own and branched into different areas such as machine learning, Deep learning, natural language Processing, vision, speech, robotics, etc. Today, AI has the potential to perform highly complex tasks- from driving car to playing chess to grading essaysat a level often equal to or surpassing the most talented humans, while performing the task at scale and consistency

- Ashvin Vellody, Prathyusha Atmakur and Soumya Hansa

AI as a National Asset

Countries around the world are becoming increasingly aware of the potential economic and social benefits of AI. For instance, Pittsburgh has installed AI-enabled traffic lighting, which has helped cut travel times by 25 percent and Japan is building smart hospitals to address shortage of medical professionals.

Applied wisely, AI has the potential to become a national asset and a source of global competitive advantage. numerous governments are investing in national AI strategies, involving both public and private sectors. Where Germany has earmarked uS$3.4 billion for AI, France is planning to spend uS$1.8 billionin its AI national strategy2. other nations such as South Korea, China, Canada, Japan, Singapore, and India have also developed national AI strategies, as can be seen in the map.

India’s national AI strategy identifies Health Care, Agriculture, education, Smart City, Infrastructure and mobility as key areas where AI can enable development and can create greater inclusion. AI has already started revolutionising businesses in India as companies have started increasing adopting. With the use of AI rising significantly, government can be one focus area where cognitive technologies can help reimagine and redesign the nature of work to make the most of both human and machine skills.

AI-enabled Smart Cities