Tech Titans Celebrate AI Appreciation Day: What They Had to Say
The AI revolution of 2023 has had a significant impact on various industries. Initially starting in the tech sector, it has now expanded to fields such as medicine, entertainment, logistics, ecommerce, publishing, and more. The focus is not solely on generative AI, but rather on the entire concept of incorporating logical processes into computer programs to enable them to generate their own problem-solving responses. Although Silicon Valley had an early advantage, Indian business leaders are increasingly recognizing the potential of AI. Many companies have already begun integrating AI to some extent, and numerous startups dedicated to AI development have emerged. On AI appreciation day 2023, industry experts share their thoughts on this groundbreaking technology and how they envision a world with it.
Business leaders take a stand on the possibilities of artificial intelligence
Sathesh Murthy, India CEO and Head of Engineering at RingCentral, a cloud-based enterprise communications solutions company, said, “At the same time that smartphones made a transformative impact on the technology industry, AI has emerged as a transformative force, revolutionizing the way we work, operate and compete. We believe generative AI will transform employee and customer experiences and reinvent the way , through which employees communicate using AI-based assistance. Many companies are already leveraging generative AI and broad language model AI technology to come up with intelligent use cases, such as in customer service. AI is used as a virtual assistant to provide customer support and answer common questions, reducing the workload of customer service representatives and improving customer satisfaction. We see great potential in AI for its in the ability to equip sales teams with features that automate things like meeting summaries, action items, and coaching based on conversation trends so they can close more deals faster. AI is ultimately creating a new gold rush moment, and by harnessing its power, we will not only embrace the future, but also pave the way for unprecedented success in the digital age.
Vasu Merugu, Chief Product Officer, Head of Digital Works (A23), an online Rummy platform, said, “Artificial intelligence combined with human intelligence has the potential to disrupt the technology landscape across the globe. It has the means to analyze massive amounts of data and extract meaningful insights that can help businesses to gain a competitive advantage, resulting in immersive, hyper-personalized and immersive experiences. At A23, AI plays a critical role in enabling a fundamental part of our product – responsible behavior. We use AI to analyze gaming habits and user behavior, monitor screen time limits, and warn or limit users, preventing them from chasing losses. We analyze also user preferences and provide them with personalized gaming experiences based on their skills and experience.As the industry soars, groundbreaking AI applications emerge from every corner, creating a safe, secure and healthy gaming environment.
Manish Bhatia, head of technology, analytics and new capabilities at fintech startup Lendingkart, said: “The transformative power of AI technology is reshaping the landscape of the fintech industry. The contribution of AI to business is like a powerful catalyst that will start a revolution in this space. Just like electricity works in our lives, data fuels the engine of fintech, and AI technology is the key to unlocking its true potential.
In the field of digital lending, where the goal is to provide easy-to-use financing solutions for SMEs, artificial intelligence is emerging as the driving force behind a seamless loan cycle. AI’s ability to quickly assess customer eligibility, utilize KYC and BS information in seconds and complete the entire process digitally without human intervention, AI is paving the way for a remarkable customer experience… The opportunities created by AI technology are truly exciting and we are truly building Bharat on the blocks of technology”.
And finally, Vinod Nair, VP and Head of Marketing at Bahwan CyberTek, an IP product-driven digital solutions company, said, “We are at a point where we are witnessing the glory of AI firsthand. Technology players are building smarter and more powerful AI platforms faster than ever. Advances in deep learning and advanced foundational models have led to an AI revolution that delivering platforms that can create content, create images and interact like humans.Today, AI is improving the productivity of marketing, sales and R&D teams and helping knowledge workers bring more value to the table.
According to the latest McKinsey report, the impact of generative AI on productivity can add trillions of dollars of value to the global economy, a huge potential. On this AI Appreciation Day, it’s important to remember that if we users know how to use AI to our advantage, whether it’s to improve the customer, employee or stakeholder experience, this is just the beginning. We’re going to see a lot more in this space and a lot more users embracing AI to create new business opportunities and revenue models.
