Business/Technology
Artificial Intelligence (AI) will usher in evolutionary changes in method of doing Business
By PARTHA ROY
Artificial Intelligence (AI) is ushering in evolutionary changes in every sphere of life where it is being introduced . AI is increasing productivity , minimizing losses , improving quality of products as well as influencing life in myriad of ways.
AI as technology itself undergoing evolution since it’s introduction in 1950s which entered in to fast track path in recent years.
A special session titled ” AI: Industry Friendly Solutions ” organized by Bharat Chamber of Commerce on 7th June 2024 in Kolkata.. The special session was addressed by Guest-in-Chief Shri Debashis Sen, IAS (Retd.), Founder Director and CEO, New Bengal Consulting Pvt. Ltd. ,Dr. Nabarun Bhattacharya, Professor and Director, School of Information Science and Technology, Maulana Abul Kalam Azad University of Technology (MAKAUT), Shri. Sumanta Kar, Partner – Technology Consulting, Ernst and Young LLP and Smt. Aditi Sen, Founder and CEO, ADI World .
Debashis Sen highlighted AI is going to influence every sphere of every day life in myraid way . Sen mentioned every new technology create certain apprehension but also every new technology like AI create opportunities to improve quality of doing business and quality of life .
Sen mentioned application of AI is becoming indispensable from manufacturing to retail operations in various sectors of business like Airlines, Banking Art & Culture, education, Pharma, hospital, hospitality, tourism , transport , agriculture in fact list is endless and evolving .
Sen mentioned Generative AI is going to change social behavioral patterns of individuals as Generative AI is going to be personalized to act as personal assistant .
Sen stressed India can take lead in development of AI application areas in various sectors of Businesses . He mentioned skill development for operating various tools of AI opens up new opportunities in education sector. Sen cautioned one needs to be sensitive and careful as application of AI & it’s usage generate huge data which can be used positively or negatively in evolving technology space. Today , AI is used from customer service management in banking, financial ,airlines , hospitality , development of molecules for precision treatment , telecommunication, as well as security networks , Defence ,etc .
Sen pointed out ethical considerations in AI and explained how generative AI can be misused to morph images and videos and scope of misuse of personal information when data is being transferred in an unregulated manner.Sen added “AI will know everything about everyone by 2030”.
Dr. Bhattacharya mentioned AI can facilitate standardisation of quality parameters and benchmarks in highly sensitive areas like tea tasteing through artificial intelligence sensors eliminating any need for human intervention. Bhattacharya mentioned how AI is increasing productivity & efficiency of tea industry. Bhattacharya also mentioned about ” Explainable AI ” used for Defence sector in area of strategy planning, development and management. Bhattacharya highlighted AI is highly energy intensive and the power required to sustain the system is close to 1025 J, so need for adopting a new computing regime with much less energy consumption need for efficient and easy deployment of AI .
Sumanta Kar mentioned AI is redrawing business organisation ‘s operational structure as well as business enterprises as well as need for optimisation of human ethical values while implementing AI .
Aditi Sen highlighted importance of adopting a diverse framework for AI models,as well as need for protection of ethical integrity, cultural sensitivity and privacy and security concerns issues.
Shri N G Khaitan President of Bharat Chamber of Commerce in his welcome address expressed his optimism in introduction of Artificial Intelligence in Judiciary, Judicial system and role in improving efficiency of legal systems as well as justice delivery mechanism.
Shri Khaitan indicated need for reformation and adoptation of new laws , rules , conventions for smooth functioning the systems.
Shri Naresh Pachisia Senior Vice President BCC while delivering the vote of thanks appreciated Government of India ‘s efforts & initiatives in R & D to promote application of Artificial Intelligence . Development of AI core technologies and it’s applications require large capital investment.
