The Economic Times AI-IoT Summit, held at the Westin Mumbai, brought together enterprise technology decision makers, consultants, business decision makers, process owners, CxOs, solution providers and academia to discuss how to make the most of AI and IoT advances.
The Economic Times AI-IoT Summit saw industry stalwarts discuss the challenges faced by organizations the world over due to ever-changing economic conditions, technological developments, or consumer preferences, which are forcing them to adopt intelligent automation solutions. Technological revolutions in the form of Artificial Intelligence (AI) and Internet of Things (IoT) offer a huge potential for improving customer experience, reassigning resources, predictive maintenance and improved process efficiencies. The power-packed day proved to be a distinctive experience featuring insightful content and networking opportunities.
Nilesh Marathe, Digital Engagement Solution Sales Leader, Avaya India opined that, “AI is getting cognitive, but I think no research suggests that AI is going to have emotions. So that leaves us with two factors in terms of the negative impact of AI; one is humans programming AI to do something drastically negative, and that can cause harm; the second is the way AI is cognitive, specifically algorithm, program or design to achieve the end result, which is good but they adopt the disruptive method, and that is one area I think we need a little bit more research on.”
Sudheesh Narayanan, Chief Executive officer, Knowledge Lens, offered his thoughts, stating, “There has been lot of work happening in AI, but today we see that the IoT wave has picked up quite well and the manufacturing industry itself is going through a tremendous stress. Without having this digital revolution in the manufacturing industry itself, we see that there is a kind of challenge for them and hence the opportunities are big.”
Swaminathan S., CEO, Hansa Cequity, agreed, stating, “2019 will be the year of adoption of AI and IoT and generating business value out of it, so I would call it adoption and acceleration.”
Deepak Lamba, President, Times Strategic Solutions, said, “Collaboration, cooperation, deliberation, and innovation is a must for sustaining the disruptive discourse of technology across industries. The Economic Times AI IoT Summit provided a unique opportunity and platform for the industry ecosystem to converge and chart the path of future growth, and one I am sure provided much value and insights to all.”
Artificial intelligence is now increasingly driving mainstream applications in many major enterprises. Silently, the results of these applications are already making things better for customers and suppliers. AI-powered intelligent tools are helping resolve customer support queries faster leading to higher satisfaction. Computer vision in factories is driving lower defects and fewer product returns. Machine learning is reducing shipping time for products across the board. Predictive analytics is delivering mitigating action before an error happens. The world around us is quietly changing for the better and is being driven largely by artificial intelligence, and The Economic Times AI IoT Summit represented a critical step in helping enterprises segue into this new reality.