HOW AI IS - TRANSFORMING INDUSTRIES

"On a cumulative basis, we have saved around 53 Billion litres of water and over 2 Mn Kg of carbon emission from farms till now by using AI technology."

- PAROMITA GUPTA

Artificial intelligence is propelling India’s dream of becoming a USD 5 trillion economy and its use cases are becoming evident day-by-day. According to a TeamLease report, AI is expected to add USD 450500 billion by 2025 and USD 967 billion by 2035 to the Indian economy. The marvelous success story of OpenAI’s ChatGPT opened doors to a world open to the adoption of AI at a high rate. AI is no longer a term used in future tense; it’s very much a driving force in the present. Several industries and businesses are optimistically integrating tech tools to improve customer experience, increase marketing and sales, and have an edge over their competitors. To shed light on the profound impact of AI across various domains, we spoke to a few players who have embarked on this co-AI journey to share real-world applications, benefits, and challenges of its integration.

A HELPING HAND IN HEALTHCARE : In a country with a population of 1.4 billion, India accounts for a mere 64 doctors per 100,000 people. This falls below a world average of 150 doctors per 100,000 people. In situations like these, AI can be a good helping hand for medical professionals. In fact, in early 2023, The Indian Council of Medical Research (ICMR) released the country’s first Ethical Guidelines for Application of Artificial Intelligence in Biomedical Research and Healthcare. With this, they aim to create “an ethics framework which can assist in the development, deployment, and adoption of AI-based solutions” in the specified fields. Tracxn, a market research firm, notes that there are 208 start-ups using AI when it comes to diagnosis or treatment in India. AI can particularly help with mental wellness for individuals. Some of the players in this space are Wysa, LISSUN, Shyft (formerly Mindhouse), Sukoon, Innerhour, Trijog, YourDOST, and Mitsu.