Artificial Intelligence To Double The Innovation Rate In India

20 December 2019- The world-renowned name “Microsoft” stated that AI or Artificial Intelligence will significantly transform various industries. It will facilitate individuals and government to address the difficult challenges of society. AI adoption in India has resulted in the development of the most innovative solutions. The reputable business leaders of India say that the rate of innovation and employee productivity in the country will be more than double by 2021. The innovation rate will be 2.2 times more at organizations and 2.3 times at employee productivity.  

About 77% of the business leaders polled accept that artificial intelligence is important for the competitiveness of their firm. While just one-third of Indian companies have started implementing AI technologies and solutions. The companies that have implemented artificial intelligence are expected to improve their competitiveness by 2.3x in 2021.   

To cover up the skill gap, Microsoft has recently launched a series of virtual workshops to assist organizations and developers gain knowledge of AI, cloud computing, IoT, and data sciences. The company has also established AI Digital Labs with ten higher educational institutions to train 150,000 learners for potential employment. 

Innovation In online betting Industry

21st-century artificial intelligence has facilitated the number of mainstream technologies that are creating a positive impact for the legal online betting sites in India. It has been used along with machine learning to detect credit card or online transaction fraud. On identifying the potential fraud, the system can alert the retail outlet or the bank. AI-based analytical tools automatically detect the segments which are the higher risk of defection. NLP or natural language processing can be used by the betting operators to assist their call center and the basis for developing chatbots.  

Betting sites mainly tap into 5 important areas of innovative artificial intelligence. It includes text, video, images, sound, and time series. Operators can use facial recognition technology to send timely and relevant alerts to managers, hosts, or any person or a party that need to identify people. Alerts can be sent to a required person through an SMS message or a mobile app once the face recognition has been done. The photo and name of the specific gambler (appearing on the screen) will be sent straight to a security person or a manager if that user is not the registered or authentic gambler.   

Changes Required To Make AI Work For India

According to the research report, India has to boost its investment and build upon more data and strategy to improve the AI journey. To move successfully and consistently in the AI race, the country has to emphasize on the significance of trained and reskilled employees and some vital cultural changes where innovation is considered as the main element. It requires leaders to adopt artificial intelligence as a crucial aspect of their strategy and create a learning agility culture. Universities and training program institutions have to develop new talents to ensure the effective use of AI models and systems.  

It would be exciting to see if these predictions turn into reality or stay as mere ‘estimated facts’. 

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