AI Appreciation Day: Insights from Industry Titans on the Power of AI

AI has become a powerful tool that has the potential to shape various aspects of our lives. It’s essential to acknowledge the myriad of benefits that AI brings to our world. From enhancing efficiency & automation to fueling breakthrough innovations & delivering personalized experiences, AI is transforming industries & revolutionizing how we live & work. With the ongoing efforts taken by industry veterans like Google, IBM, and Microsoft, we can expect even greater advancements, unlocking new possibilities & shaping a brighter future powered by AI.

On AI Appreciation Day, below are the expert opinions on the importance of trust in AI and the steps needed to establish it. In this story, we present their insightful perspectives and strategies for fostering trust in the age of AI.

AI to reshape & revolutionize lives - Sangeet Kumar, CEO & Co-Founder, Addverb “AI continues to shape and revolutionize our lives in unimaginable ways, spanning various industries such as healthcare, transportation, finance, and entertainment. As we celebrate the remarkable advancements in artificial intelligence, we recognize its transformative impact on supply chain and warehouse automation. At Addverb, we have implemented AI through our robots and automation system to transform traditional warehouses into autonomous distribution centres by optimising different aspects like storage, picking, sorting, and shipping of goods. Convergence of AI and human expertise creates a powerful synergy, resulting in lower operational costs, higher productivity & accuracy and also enhancing worker safety.”

Ensuring AI Security and Protection - Ritesh Chopra, Director Sales and Field Marketing, India & SAARC Countries, Norton “AI can be both a method for carrying out cyberattacks and a way to protect against them. With the expansion of tools such as ChatGPT, attackers can more easily generate human-like text to carry out their social engineering attacks, which rely on tricking someone into giving up confidential information. By playing on people’s emotions and natural tendency to trust, social engineers are able to manipulate people into divulging sensitive information like passwords and bank account details. With ever-growing frequency and sophistication of attacks, it grows harder for people to distinguish between legitimate and malicious communications. At Norton, we are innovating to help protect people from these ever-evolving threats, both through our products and services as well as by educating people about scams.”

Transformative Impact of AI in Talent Acquisition - Lokesh Nigam, Co-founder and Director, Kognoz “Artificial intelligence is an expansive field with profound implications, especially in human resource management. HR departments increasingly rely on AI to inform decisions related to hiring, employee development, and retention. On this AI Appreciation Day, Kognoz celebrates the transformative impact of AI in talent acquisition. By harnessing cutting-edge conversational intelligence, we have revolutionized traditional hiring methods. Our platform empowers client companies, delivering unmatched efficiency, cost savings, and competitive advantage. With advanced AI capabilities, we provide a leading-edge solution that optimizes the hiring process and outperforms competitors. Let's honour the incredible potential of AI to revolutionize talent acquisition and unlock boundless opportunities for organizations worldwide.”

Building trust in AI is a collective effort involving industry leaders, researchers, policymakers, and individuals. By prioritizing security, ethical practices, user empowerment, collaborative standards, and education, we can establish a foundation of trust in AI. As we celebrate AI Appreciation Day, let us embrace these expert insights and work towards a future where AI technologies serve as trustworthy and reliable companions in our daily lives.

Karun Tadepalli, CEO & Co-Founder, byteXL There has been a huge watershed moment for Artificial Intelligence after ChatGPT was unveiled. AI has applications in many engineering fields, including automation of tasks, which massively boosts productivity and propels the economy forward. Considering how it will replace traditional IT jobs, students with AI specialization will certainly have a competitive advantage in the coming years. Since Artificial Intelligence is still a nascent field - it has a lot of scope for study, research breakthroughs, and coming up with new algorithms. Now is the right time for educators to skill students on AI fundamentals so that they can seize it at the right time and build upon their skill sets as the research advances.

Jayesh Jose, CTO & Co-founder, FreshToHome AI has vastly transformed the e-commerce industry, revolutionizing various aspects of online shopping and enhancing the overall customer experience. It has enabled brands to personalize shopping experiences, optimize search capabilities, bridge gaps in customer support, and make inventory management and supply chain robust. We at FreshToHome, are leveraging AI to reduce wastage, optimize supply chain management and predict demand to strategize our procurement processes. Every stage of our growth has been actively or passively led by AI-driven solutions. On AI Appreciation Day, we celebrate the remarkable offerings of AI that are driving growth across industries. With an insatiable curiosity and data processing prowess, AI fuels scientific breakthroughs, streamlines processes, and unlocks human potential. AI is set to grow further, and we are eagerly looking forward to seeing the transformation it brings in the future for all industries.

Manav Subodh- Managing Director, 1M1B (One Million for One Billion) - An organization creating India’s largest Future Tech- Ready Workforce
“There are 2 ways in which I think generative AI is going to empower us to strengthen our future economy. In the space of education and skilling, I think AI is going to be revolutionary in its ability to provide a robust system of support for teachers and youths. Especially when it comes to balancing administrative duties such as attendance, assessments, corrections, and making creative assignments. This will allow them to focus more on how to make learning a more exciting and fun process. The other segment in which AI will facilitate an ease of work is small businesses and entrepreneurs. Where previously they were unable to hire big-time agencies to expand their operations, they can now get a surprising amount done by leveraging generative AI. Be it creating a branding strategy, making creative posters, doing copywriting or even creating a preliminary budget - AI can provide all kinds of support to a variety of small businesses and help take India's economy to another level.”

Mukesh Kumar Bansal- CTO of TelioEV- EV Charging Management Solutions provider company
“On AI Appreciation Day, we recognize the extraordinary influence of artificial intelligence (AI) on many commercial entities, including the Electric Vehicle (EV) business. AI acts as a catalyst, simplifying operations, increasing efficiency, and stimulating development. AI liberates employees by automating monotonous jobs, allowing them to focus on sophisticated and imaginative endeavours. AI reduces errors through its accuracy in data processing and decision-making, resulting in increased production and customer satisfaction. Businesses must incorporate AI into their workflows, embracing AI-driven solutions that allow smooth operations and improve decision-making processes.

As with other businesses, AI is also helping the EV industry in many ways. AI improves EV performance by automating operations and enhancing battery management systems via enhanced data processing, maximizing efficiency and battery longevity. This promotes EV growth by providing consumers with increased dependability and driving range. Furthermore, AI enables manufacturers to customize EVs based on data insights, matching with market expectations and consumer satisfaction, resulting in additional market development.”

Ilesh Ghevariya - Founder and CEO - French Crown- Fast Fashion D2C Brand
"As the Founder of a D2C fast fashion brand in the lifestyle industry, I genuinely appreciate how AI is revolutionizing our work. It has become an invaluable tool, easing various aspects of our business and driving growth. AI has greatly benefited us, particularly in demand forecasting and inventory management. By analyzing historical data and market insights, it accurately predicts customer demand and optimizes inventory levels, leading to improved customer satisfaction and increased sales. Furthermore, AI-powered chatbots and virtual assistants handle queries, recommend products, and process transactions, freeing up human resources for more complex tasks. Moreover, AI-driven data analytics have empowered us with valuable insights into customer preferences, market trends, and competitor analysis. This informs our decisions on product development, marketing strategies, and pricing, resulting in more targeted and effective campaigns. Overall, I deeply appreciate AI and its transformative impact, and I am excited about the endless possibilities it holds for the future of our business and the industry."

Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work® India
"Organizations must address unconscious biases and ethical considerations when deploying AI technologies to achieve business excellence and corporate strategy. As the work landscape shifts, organizations must navigate the trust gap with disruptive technologies. AI has transformative potential that can revolutionize industries, address global challenges, and shape the future of work. To effectively harness AI's capabilities, organizations must collaborate with AI while recognizing human interpretation and contextual understanding. India has been proactive in embracing AI, joining the Global Partnership on Artificial Intelligence (GPAI) in 2020. The National AI Strategy aims to position India as a global leader in AI research, development, and deployment. The government has launched Technology Innovation Hubs and Cloud Computing Platforms for research, analytics, and knowledge assimilation. India has cemented itself in the adoption of AI to drive transformative advancements across sectors like education, health, agriculture, urbanization, and mobility."

Udit Mehrotra, MD and CEO, Spectra
At Spectra, we acknowledge the remarkable advancements and contributions of Artificial Intelligence (AI) across various industries. We recognize the immense potential AI holds in revolutionizing every aspect of our lives. As technology continues to progress, AI's capabilities will further evolve, making it a true game-changer in every industry. Understanding the pivotal role AI is playing today, we have developed Spectra AI.VIS, our cutting-edge AI-based video analytics solution that seamlessly integrates with existing CCTV infrastructure to automate business operations, monitor and safeguard premises and employees and predict business trends while eliminating manual errors.

Amit Relan, Co-Founder and CEO, mFilterIT
"With ChatGPT and BART in the ecosystem, AI has brought a revolutionary change in how businesses work. Not just convenience and speed, AI has rewarded with accuracy, efficiency and accessibility. Beyond the convenience of business, AI has evolved its role from being a work-doer to also the protector of businesses digitally from uncertain brand threats. Using the capabilities of AI, businesses can proactively identify unidentified threats and protect their brand image from their impact."

Krutika Lal, co-founder and chief marketing officer (CMO), Aretto
At Aretto, our work culture is driven by a shared vision of excellence and innovation, and AI plays a crucial role in shaping our success. With AI technology, we strive to streamline processes and provide exceptional customer experiences. We leverage the power of AI to enhance our customer support and optimize our marketing analysis. Through AI-powered chatbots, we provide prompt and personalized assistance to our customers, ensuring a seamless shopping experience. By automating routine tasks and handling basic inquiries. Moreover, AI plays a pivotal role in our marketing analysis efforts. By analyzing vast customer data, AI algorithms provide valuable insights into consumer behaviour, preferences, and trends. This enables us to customize our marketing campaigns and product offerings to meet the evolving needs of our target audience. AI algorithms also help us identify patterns, detect anomalies, and forecast demand, enabling us to make data-driven decisions for inventory management, pricing strategies, and product development. Integrating AI in our customer support and marketing analysis empowers us to deliver exceptional customer experiences, optimize our operations, and stay ahead in a competitive market. We are committed to leveraging cutting-edge technology to continuously improve our services and meet the ever-changing demands of our valued customers.

Amit Vasistha, Founder and CEO, MyGALF
AI's potential to revolutionize our lives is tremendous, enhancing ease, efficiency, and productivity. Rather than eradicating jobs, AI will transform them, paving the way for new opportunities. Embracing AI is essential to harness its power. In the corporate wellness industry, AI reshapes employee wellness programs, creating personalized initiatives based on individual needs. It collects and analyzes health data to track progress and outcomes. Real-time feedback and virtual AI coaches empower employees, while gamification makes wellness engaging. Integration of AI unlocks possibilities, enhances employee wellness, and cultivates a thriving workforce.

Ashish Singhal, CEO & Co-founder, CoinSwitch
“Generative AI has advanced to new levels of maturity and sophistication during the last two years, growing by leaps and bounds. Looking at the fast-paced business landscape; integrating and exploring AI is essential for individuals and organisations to capitalize on opportunities. As we look ahead, AI will be a game-changer, democratizing knowledge and transforming industries across the spectrum.”

Jitendra Chouksey, Founder and CEO of Fittr
"At Fittr, we recognize the incredible impact of ChatGPT with AI on the fitness industry's evolution. With this cutting-edge technology, we have witnessed a revolution in personalized guidance, seamless interactions, and enhanced user experiences. AI has become a virtual fitness companion, providing instant access to expert advice, tailored workout plans, nutritional insights, and motivational support. Its integration with leading technologies has empowered individuals worldwide, transcending geographical boundaries and time constraints. The amalgamation of human-like conversation and AI capabilities has revolutionized how people engage with fitness, making it more accessible, convenient, and engaging. At Fittr, we proudly leverage AI to empower and inspire individuals on their transformative fitness journeys."

Advait Kumar, Co-Founder, Boon
AI is the "Elder Wand" of this contemporary world with immense potential. This tool has the capacity to augment and accelerate humanity's efforts towards the Sustainable Development Goals at an unprecedented level. At Boon, we are pioneering an AI-based transformative ZeroMileWaterTM technology that delivers clean drinking water with zero plastic and water wastage. AI possesses immense potential but needs to be wielded responsibly. Just as the Elder Wand required a skilled and ethical wizard to utilize its power for good, AI necessitates the guidance of responsible innovators, policymakers, and society as a whole. By drawing strong ethical boundaries, we can harness the full potential of AI and use it to cast the spell Wingardium Leviosa to lift growth, productivity, and sustainability!

Rohan Nesho Jain, Founder and CEO, MADverse Music
He explained how AI is shaping the music industry. He mentioned that AI-powered music technology has brought about a revolutionary transformation in the music industry, empowering artists, producers, and music enthusiasts with advanced tools and resources for innovation and creativity. From streamlined production workflows to enhanced audio quality and comprehensive music release and promotion platforms like Madverse, AI+ music tech complements artists' careers at every stage. Going forward, it will provide them with direction and support, including Dolby's artist-centric AI for mastering and upcoming stable diffusion tech creating visual arts for their tracks. It has paved the way for a seamless and immersive music experience, benefiting both artists and listeners alike.

Manan Joshi, Co-founder & Director, Excellent Publicity
He said that at Excellent Publicity, we understand the importance of Artificial Intelligence in fueling innovation and uniting brands. AI is revolutionizing the advertising industry by allowing us to deliver more impactful and consumer-centric experiences. Using AI, we can analyze a wide range of consumer insights, such as preferences, behaviors, and purchasing habits, which allows us to create more relevant campaigns for the targeted audiences. Furthermore, AI enables us to optimize advertising campaigns in order to maximize engagement and ROI. By leveraging AI, businesses can streamline and automate their processes, saving both time and resources. AI enables brands to provide instant consumer support, improve the user experience, boost customer satisfaction, and optimize ad spending to increase conversions. Different companies from various industries can now collaborate by utilizing AI-generated analysis to create strategies that are relevant to the evolving demands of consumers.

Beas Dev Ralhan, CEO, Next Education
He highlighted how AI-enabled edtech platforms are gaining children's interest by offering personalized learning, instant feedback, accessibility, and cost-effectiveness. "AI-enabled edtech platforms are the future of learning. They offer a number of benefits that can help students learn more effectively and efficiently. As AI continues to develop, these platforms will become even more powerful and versatile. This will make them an essential tool for students who are looking to get the most out of their education."

Prashant Kashyap, Co-Founder and COO, Connect and Heal
"AI has revolutionized healthcare by enhancing speed and efficiency. This advancement has enabled faster delivery of patient outcomes and has transformed the patient journey. With pre-consultation data analysis, AI has empowered doctors with insights and additional time, revolutionizing patient care for comprehensive and personalized attention. In addition, AI has improved the claims process, ensuring a seamless patient journey. We are witnessing a healthcare revolution driven by AI's transformative power, unlocking untapped potential and paving the way for a brighter future of healthcare excellence."

Amit Choudhary, Co-founder and CEO, saasguru
"Lets embrace the transformative power of Artificial Intelligence and celebrate the AI Thank Day. AI-powered future empowers individuals, enhances human potential, and creates a better world for generations to come. It has become an important tool in shaping the future of our world, revolutionising industries, and solving complex problems. We should express our gratitude for the advancements AI has brought. Let us also recognise the responsibility it places on us. One should ensure that AI is developed and deployed ethically, with a focus on transparency, fairness, and inclusivity"