Artificial Intelligence

Larry Page once said, “Google will fulfill its mission only when its search engine is AI-complete. You guys know what that means? That’s Artificial Intelligence.”

Artificial Intelligence or AI is the branch of computer science that is focused on developing machines that can carry out tasks that usually need human intelligence. With the explosion of available data expansion of computing capacity, the world is observing rapid developments in AI, which in turn is transforming the different sectors of the economy.

The Industrial Revolution 4.0, as the AI-era is referred to, has already been experienced before the pandemic across the globe. While society has already accepted that the ‘Corona’ virus is here to stay for a longer period and is learning to live in this ‘new normal’, the necessity of continued social distancing has made an AI-driven economic world order today’s reality.

However, even before the pandemic, employees used to attend video conferences, students were using ed-tech apps for their studies, online payments were being made, etc. but the level at which such things are happening now is incomparable in human history. The RAISE 2020 (Responsible AI for Social Empowerment), a virtual global summit that was recently hosted by the Ministry of Electronics & IT, Government of India has brought together global experts to discuss concerns around artificial intelligence and to create a roadmap for responsible AI. Speaking at the event, the honorable Prime Minister of India, Shri Narendra Modi said, “We need to make Artificial Intelligence in India and make Artificial Intelligence work for India.”

Now the question arises, ‘How India can be benefitted from AI?’

India which is known for its large young skilled population has been ranked second on the Stanford AI Vibrancy Index, largely on the account of its sizable AI-trained workforce.

With its ‘AI for all’ strategy, there exists a unique opportunity for India to be a major contributor to AI-driven solutions that can transform healthcare, education, manufacturing, and agriculture. India’s startups are innovating and creating solutions with AI across different domains like education, financial services, etc. to solve various societal problems.

In Healthcare, to combat the situation of Covid19 misinformation, an AI-enabled chatbot has been deployed by MyGov for providing accurate and timely communication. Also, machine learning-based algorithms in AI can help in the early detection and prevention of diseases by capturing the vital organ of the patients. To exemplify, a non-invasive AI-enabled technology has been developed by a Bengaluru based start-up for early signs of breast cancer.

In Agriculture, a pilot study was taken up in three districts, namely- Bhopal, Rajkot, Nanded has developed an AI-based decision support platform combined with weather sensing technology to give information about weather forecasts and soil moisture information to help farmers in making decisions regarding water and crop management. AI-based solutions on crop insurance, water management, and pest control are also being developed.

Artificial Intelligence is also helping in flood forecasting and the education sector these days. Understanding its importance in the present times, the CBSE (Central Board of Secondary Education) has integrated AI in the school curriculum to make sure that the students passing out have the fundamental knowledge and skills of artificial intelligence, data science, and machine learning.

Since AI works for digital inclusion in India, it will have a ripple effect on economic growth and prosperity. The opportunity for AI in India is so huge that it has the potential to add over $ 500 billion and around 20 million jobs to the Indian economy by 2025. Also, India’s artificial intelligence spending is anticipated to grow at a CAGR of 30.8% to touch $880.5 million in 2023 (IDC Report 2020).

India’s ‘AI for All’ strategy along with a massive pool of AI-trained workforce and an emerging start-up ecosystem focuses on building AI solutions at a scale with an objective to make India as a dependable and committed nation to which the different countries across the globe can outsource AI-related work.

AI obtains its strength from data and has the potential to offer boundless opportunities to improve society and increase the ease of doing business. AI solutions that are built in India will not only help in attaining domestic growth and prosperity but also have the capability to serve the world thus giving the true essence of “Sabka Saath Sabka Vikas.”

By Sagar Sharma

Bizemag

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