Pharmaceuticals Industry in India The Indian economy is projected to...Read More
Artificial Intelligence (AI) & Its role in Delivering Economic Value to Indian Enterprises
Artificial Intelligence ('AI') refers to the ability of a computer or a computer-enabled robotic system to process information and produce outcomes in a manner similar to the thought process of humans in certain applications like learning, decision making and problem solving.
Mr. John McCarthy who is known as the 'Founder of Artificial Intelligence' introduced the term 'Artificial Intelligence' in the year 1955. Mr. McCarthy along with Alan Turing, Allen Newell, Herbert A. Simon, and Marvin Minsky are known as the 'Founding Fathers of AI'
Government of India is keen to transform India into a hub of AI R&D by promoting investments in AI Technology Companies and Applications. In this regard NITI Aayog, NASSCOM, various Educational Institutions, Indian IT firms, and Technology & Engineering enterprises are taking many initiatives to transform Indian AI market to help realize the Prime Minister's vision to transform India to a $5 trillion economy by 2025 to the extent possible.
Scaling up and implementing accelerated AI adoption however is a unique challenge and needs to be meticulously planned as it may impair an organization's capability to drive maximum value out of it.
AI applications can contribute to all facets of an organization's ecosystem involving its operations, human resources, customers, Government, and society at large. However, the key to success is to utilize AI in a socially responsible manner where technology is seen as an enabler to mankind rather than as a threat.
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