With 10 percent of the world’s AI (Artificial Intelligence) companies based in India, the country should create AI indigenously and use it for the transformation of Bharat, PHD Chamber has recommended at ‘Convergence India and IoT (Internet of Things) Expo’ in New Delhi on Friday.
In a Panel Discussion during the Expo, on ‘Start-ups - the Game Changer in AI and ML Automation’, the Panel felt that with 10 percent of the world's AI companies are based in India, it is a remarkable achievement. Thus, India should utilise them to leapfrog the curve for ultimately serving the poor and villagers. IoT and AI advancements offer a great opportunity for transforming healthcare, agriculture -- to increase productivity and increase the income of farmers, public service delivery, SMEs, education and defence sectors.
The Panel further emphasised on felt that rather than fearing job losses and social anarchy, AI can result in improved productivity, efficiency and cost effectiveness of Indian products, especially those produced by SMEs and jobs with new profiles and skills. With planned re-skilling, focussing on incubating AI and IoT Start-ups in social sector, futuristic courses under the Skill India scheme and redesigning the university courses with emphasis on STEM (Science, Technology, Engineering, Mathematics) education, India can utilise AI to its advantage.
The panel discussion was moderated by Dr Jatinder Singh, Director, PHD Chamber of Commerce; Himanshu Rattan, Director, KPMG; Dr Sushil Chandra, Scientist 'F' and Head of Bio Medical Department at Institute of Nuclear Medicine and Allied Sciences at DRDO; Sanjay Gupta, Country Manager, NXP; Praveen Bhadada, Partner - Digital Practice, Zinnov LLC and Dr HP Kumar, former CMD, NSIC and Advisor, PHD Chamber.