Industry experts discuss AI advancement at RAISE 2020

On the second day inaugural session, Mohandas Pai said, “AI will dominate the core of the next exponential enterprises, rewriting the fundamentals of the establishment and this is the opportunity to capture. We are seeing that AI-first businesses are becoming monopolies.”

In his address, Dilip Asbe, MD & CEO, National Payments Corporation of India (NPCI) said, “Financial services have been rule based till date however, financial institutions are using AI based technologies as Decision Making Support which is helping us to really fast pace the whole process.”

Dr. Vivek Raghavan, Chief Product Manager and Biometric Architect, Unique Identification Authority of India (UIDAI) said, “Elaborated on the need to use open source infrastructure to develop AI-powered tools, and on the need to work on integrating AI solutions within the existing digital ecosystem.

“UIDAI is developing a face authentication system which will be available to all the Aadhaar holders. The goal is to make it extremely secure and make it available for all smartphone users in the country. The system can then be used by other financial service providers to strengthen their own AI ecosystem,” said Dr. Raghavan while talking about a new service that UIDAI plans to develop using AI.

Shakuntala Doley Gamlin, Secretary, Department of Empowerment of Persons with Disabilities, Government of India said, “Disabilities can be permanent, temporary or situational. By innovating for people with disabilities, we are innovating for us all. By ensuring that technology fulfils its promise to address the broadest societal needs, we can empower everyone – not just individuals with disabilities – to achieve more.”

At the same session, Ms. Jenny Lay-Flurrie, Chief Accessibility Officer, Microsoft said, “We need to focus our efforts on developing AI that makes this world more inclusive, accessible and affordable for the specially-abled.”

Post this session, a fire-side chat was organized between Ajay Prakash Sawhney, Secretary, Ministry of Electronics & IT and Noshir Kaka, Senior Partner, McKinsey and was moderated by J. Satyanarayana, Chief Advisor, C4IR India, World Economic Forum.

“The combination of AI and data can deliver 10% of our US $10 trillion economy aspiration or US $500 billion in value over the next 4-5 years. India is perhaps the only country in the world where the opportunity for AI in agriculture is as large as it is in banking,” said Kaka.

Ajay Prakash Sawhney said, “AI services should aim to reach the last man in the queue and make lives easier. Further, we should move together as Team India and ensure the benefits of AI reach all farmers, students, healthcare personnel and the common man.”

Satyanarayana hailed India’s IT prowess and said the country should continue to create public digital platforms using AI. “India should promote the creation of more public digital platforms to ensure inclusive economic growth. These platforms should aim to empower more and more people with opportunities, and India’s public and private sectors must come together to deliver innovative results,” he said.

As part of the summit, the Government of India organized the AatmaNirbhar Bharat AI Solution Challenge with the aim of promoting and showcasing innovative AI solutions developed by Indian start-ups. A total of 299 entries were received in this challenge in different categories. A selection of 21 of these solutions was showcased today to the global audience at the summit.

The AI solutions featured were developed by nine startups from Karnataka, three startups from Delhi, two from Haryana, two from Maharashtra, and one startup each from Uttar Pradesh, Tamil Nadu, Telangana, Jharkhand and Kerala.

Addressing a session on the role of regulations for responsible AI, Brad Smith, President and Chief Legal Officer, Microsoft said, “AI can revolutionize every part of the economy and accelerate economic growth. I think it is fair to say that between now and the middle of the century, India will almost inevitably become one of the world’s AI superpower.”

Be the first to comment

Leave a Reply