The annual management conclave of IMI, New Delhi provided its students an occasion to understand and immerse themselves in the theme of ‘Technological Disruptions: A survival instinct for Startups’.
Disruption, for quite some time now, has been a buzzword that has led to incredible amounts of innovation and created new opportunities in the world. Artificial intelligence has evolved at such pace due to disruptions and revolutions in the computer world in the past. The speakers for the summit, Mr. Chinmay Agarwal, Co-Founder and Chief Technology Officer, Jugnoo, Mr. Milind Sharma, Co-Founder, Nuvo Logistics, Mr. Vishwanath Ramarao, Vice President of Technology, Hike Messenger, Mr. Ankit Aggarwal, Founder, Dare2Compete, enunciated the students with the current and future implications of artificial intelligence and big data on start-ups and businesses in general.
To initiate the summit, Prof. Supriya Kalla, who was also the moderator of the summit, asked the panel about the preparedness of businesses; AI is ready for businesses but is the businesses ready for incorporating AI? With each era of revolution, humans have gradually tried to match the rate of innovation. Whether businesses today are ready or not, they need to adapt to the change and keep up with the fast-emerging technologies. ‘Darwinian system pushes humans to acquire better skills and abilities to survive the competition, even with companies, if they lag in terms of refining and updating their processes they will probably not survive the competition’, mentioned Mr. Vishwanath Ramarao. Companies that take advantage of new technologies and innovations will sustain. In India, for something as massive as A.I., only about 300 companies work towards innovation in this field, the number is very low considering the shift towards automation.
Today the world is moving towards automotive intelligence wherein predictive and judgemental intelligence of AI are highly sort after and worked upon. ‘The world today stands at a point where robots and humans can exist as co-workers and increase productive’, said Mr. Ankit Aggarwal. He further adds ‘Robots are nothing without AI, AI is nothing without machine learning and at the root of all these concepts lies Big Data’. The adverse perception towards AI and robotics needs to be changed, a fully autonomous AI is indistinguishable from a human but we shouldn’t forget that we humans are the authors of that same technology. We built computers and A.I. to make human lives easier.
With the upcoming of new technology there has always been a parallel debate about the loss of jobs it brings along. But if we look a little closely, instead of job loss the job categories have changed and newer opportunities have emerged. ‘People have to improve their skill sets and keep up with the change to sustain the disruptions’ said Mr. Milind Sharma. Some of the jobs might go away but newer opportunities would open in numerous unexplored sectors. ‘The consumption pattern of consumers would be more towards leisure, AI will probably make art, drive cars, take decisions and give humans ample time to prioritize other tasks’, was Mr. Chinmay Agarwal’s take on A.I.’s future. There would be a different kind of replacement all together with the advent of A.I., with people relying on them not just for acquiring data but also for analysing and reading that data in an absolutely different light.
Today, to match with the ever-evolving technology, all we need to do is keep learning. It’s all about learning be it machine learning for AI and learnings from business failures for businesses. Goal of technology today is to be endlessly relevant. Start-ups always need to be customer centric, and data can help build powerful and superior customer oriented products. The philosophy of more data-better data is in general correct except the limitations and practical constraints of processing the data. ‘’No data is bad data’, companies need to use data in the most efficient manner.
Technology has reached a stage where we have managed to generalize A.I. programming. We tell the A.I. what to achieve, but how to achieve it is up to the A.I. We need to put a moral framework in the A.I. so as to leave no possibility of machine dominance.
Concluding the summit, the speakers gave much attention to the thought that A.I. and technology were just facilitators towards the perception of business. We need to work in synergy with the machines to provide flawless customer experience, AI level experience is still a Nirvana for emerging start-ups.