How AI Can Drive Socio-Economic Transformation

Sourabh Tiwari, CIO, Overseas Infrastructure Alliance (India) Pvt. Ltd.

- Sourabh Tiwari

India is one of the fastest growing economies in the world. AI used as exponential technology can accelerate socio-economic transformation. We will need to tap into demographic edge, technical prowess and a vibrant start-up ecosystem to embrace advanced technology solutions that sustain socio-economic growth. It will augment labour productivity and innovation, driving growth through intelligent automation, human machine collaboration and innovation diffusion. Some of these are already in place with smart factories where humans and machines work side by side to improve outcomes. Artificial Intelligence help many sectors via machines are doing repetitive tasks, allowing humans to focus on more complex, judgement based processing and customer service. AI used in combination with Robotics, Big data analytics, Internet of Things (IOT) and genomics, improvise farming by predicting soil and weather conditions, increase crop yields and boost profits. AI is carried out by machines rather than the kinds of natural intelligence. Forms of problem solving and even learning is a sense are often considered as Artificial Intelligence. AI in making autonomous driving a reality as intelligent home assistants. Last many years we improved on processing power, storage which helps intelligent objects capable of making decisions. AI is being used to scrutinize effectiveness of quality control, evaluate process and test data to establish auto-checks and mechanisms. That enable products to be manufactured more quickly while maintaining the same quality, helps us on finding parking spaces, room temperature automation, protect homes from break-ins.