AI and Data in Every Industry
Executives from various industries such as fintech, online gaming, manufacturing, and pharmaceuticals have recognized the crucial role of data in driving advancements in artificial intelligence (AI). This was highlighted at the Mint Digital Innovation Summit 2024 where experts discussed the impact of AI on different sectors in India.
AI in Pharmaceutical Industry
Roopa Basrur, the vice-president of Global Safety Medical Writing at Parexel, emphasized the significance of AI in workflow automation, decision-making, and data retrieval in the pharmaceutical industry. Basrur also mentioned the use of AI in medical writing, particularly in ensuring drug safety and efficiency.
AI in Online Gaming
Abhishek Ravi, the CIO of Dream Sports, shared insights on how AI technology has been pivotal in reducing costs and enhancing user experience on platforms like Dream11. The adoption of AI has enabled the company to manage multiple experiments concurrently, powered by various machine learning models.
AI in Financial Services
Sushil Ostwal, the Project Head Data Science at Motilal Oswal Financial Services Ltd, highlighted the importance of quick wins in leveraging AI for business outcomes. He stressed the need for building a strong data infrastructure and a competent team to drive digital transformation successfully in the financial sector.
AI in Manufacturing
Sudip Mazumder, the global chief digital & information officer of PGP Glass, discussed the innovative use of AI in designing glass containers, citing the example of creating a unique bottle shape inspired by fashion trends. Mazumder emphasized the transformative potential of AI in the manufacturing process.
Throughout the panel discussion, the experts underscored the need for continuous skills development in AI and Gen AI, as well as the importance of human oversight in AI-powered processes. They also addressed the challenges of retaining talent in AI-related roles and the growing emphasis on cybersecurity in the era of AI.
Looking ahead, the panelists acknowledged the vast opportunities that AI presents across industries, from enhancing customer experiences and detecting fraudulent activities in online gaming to driving modernization in robotics.
It is evident that where there is AI, there is data, and the synergy between the two is reshaping the landscape of every industry, paving the way for more efficient processes and innovative solutions.
For more insights on AI and industry trends, you can visit here and here.
