The 3 pillars of the AI ecosystem are data, hardware and algorithm says Yaduvendra Mathur, Special Secretary, NITI Aayog at CII Artificial Intelligence Conclave 2019.
He opined that we must analyze the need of the consumers and how best we can fulfill their needs. It is a retraining way of how to serve best to your consumers.
Speaking at the Inaugural session, Vinod Sood, Conclave Chairman and MD, Hughes Systique said “Current developments in AI have been fueled by an exponential rise in computing power increasing the accessibility and sophistication of powerful algorithms and an explosion in the volume of data available which has been enabled by the advances in cloud infrastructure to feed the AI models.
He also said that we would aim at getting a deeper understanding of how companies currently manage their AI activities and how leaders address opportunities and challenges that occur.
Prateek Garg, Founder, Co-Chairman, Regional Committee on AI, CII Northern Region and CEO & MD, Progressive Infotech said, “AI has a potential impact of $15.7 Trillion on the global GDP by 2030 as per the global studies.
He said that AI is playing a definite role in businesses which adds intelligence, achieving incredible accuracy and analyses the deeper data and discovering new data. All this is making a lot of impact on how we work and how we’ll work in the future.
Kishore Jayaram, President, Rolls-Royce India & South Asia said, “We need to accelerate innovation by using advanced data analytics, industrial AI and machine learning techniques to unlock design and operational efficiencies and thereby enhancing customer-centricity.”
Arnab Kumar, NITI Aayog said, “Challenges are broadly based into three parameters often, access, affordability, and availability and NITI Aayog is trying to understand what are the unique challenges and problems we as a country and use technology on achieving these problems.”
Ashvin Vellody, Partner, Delloite India said “India also has a sense of optimism that AI will contribute to the country’s broader growth agenda since the technology, once applied correctly, has the potential to touch every facet of life and make a positive impact on various fields, such as retail, healthcare, education, manufacturing and many more.