It connects top AI experts, enterprises, government representatives, data scientists, technology leaders, startups, investors, researchers, academicians, and global AI innovators - to discuss the impact of AI on commercial applications and the revolutionary ways it can transform businesses and government functions.
It is a truism that artificial intelligence (AI) is set to change the world in unimaginable ways. The giants of the tech industry have realised it and are investing heavily in it, as can be seen, for instance, from Microsoft's $1 billion investment in OpenAI, which in turn was founded by Tesla's Elon Musk, and seeks to use AI to benefit all of mankind. Again, Twitter has acquired four AI companies - the biggest of them being Magic Pony for $150 million in 2016 - in its bid to improve its system of recommending specific tweets in users' timelines. Even traditional businesses are using AI to improve their services, such as UK-based grocer Nisa Retail employing Amazon Web Services to meet its business challenges. India too has plunged headlong into AI and machine learning (ML) with numerous start-ups offering AI solutions in areas such as banking, logistics and transportation.
Artificial intelligence (AI) relies on big data and machine learning for myriad applications, from autonomous vehicles to algorithmic trading, and from clinical decision support systems to data mining. The availability of large amounts of data is essential to the development of AI. Given China's large population and business sector, both of which use digitized platforms and tools to an unparalleled extent, it may enjoy an advantage in AI. In addition, it has fewer constraints on the use of information gathered through the digital footprint left by people and companies. India has also taken a series of similar steps to digitize its economy, including biometric identity tokens, demonetization and an integrated goods and services tax.
Artificial intelligence (AI) is expected to transform the productivity and GDP potential of the global economy. According to a report by PWC, strategic investment in different types of AI technology is needed to make that happen. PWC's research shows that 45% of total economic gains by 2030 will come from product enhancements, stimulating consumer demand. This is because AI will drive greater product variety, with increased personalization, attractiveness and affordability over time. AI could contribute up to $15.7 trillion1 to the global economy in 2030, more than the current output of China and India combined.
It's a busy Saturday afternoon at the Amazon AI conclave, where the country's top AI practitioners are gathered, and I'm meeting a hacker. At first, the demo seemed ho-hum, but Rahul Sasi, CTO, CloudSek, an artificial intelligence-based risk management startup, is confident that something will give.
Anuj Agrawal, 35, has dabbled in the recruitment industry since 2005. With 100 employees and two offices in Noida and Bengaluru, his firm Zyoin offers recruitment and consultancy services to over 300 companies, including Amazon, Goibibo, Play Games and PayU. But there were some constant niggles. With no universal template around which resumes are written and structured, mining and matching thousands with job positions was a huge task. Available parsing technologies were basic and didn't sort and match well. Also, the resumes in their database would often get dated. Last year, Agrawal got a cold email from Anand Kumar, founder of Bengaluru-based Skillate, an artificial intelligence (AI)-based recruitment solution platform that helps companies read and match resumes.
In September, Apple quietly acquired Tuplejump, a little-known Hyderabad-based startup. Tuplejump is an Artificial Intelligence (AI) company that helps clients store, process and visualise data. In simple terms, it helps, say, an e-commerce player to use all the data it collects to improve conversion rates--the number of people who end up buying something out of the total number of visitors. This was Apple's first acquisition in India and the third one this year of an AI company. India-based AI startups are hardly visible and don't command eyepopping valuations that e-commerce companies do.
KOLKATA, India -- Across a bustling intersection from one of the first dead-letters offices, a pale blue sign beseeches pedestrians to join the future. Several hundred feet separate old, colonial India from the promise of a new, technologically transformed country. An Uber sign urges traffic safety and a gentle nudge for the ride-sharing service, which is wildly popular here. In Kolkata, capital of the Indian state of West Bengal, there are traces of the future amid decaying buildings and staggering poverty. Samsung Electronics and Dell signs mark the entrance to a dilapidated Victorian structure in the heart of the city.