Kris Gopalakrishnan, Chairman India Innovation Summit, Chairman, Axilor Ventures & Co-Founder, Infosys Ltd said that the India Innovation Summit has been an immense source of inspiration and a patron for Innovation, it provides an ideal platform for Indian Industry to study and understand the various flavours of innovation across all verticals of the Industry, it is also a platform to engage and drive the innovation led growth strategies from India for global markets.
According to him India is currently witnessing the commercialization of artificial intelligence and this has two aspects, one is cost and second is access. Ai is a disruptive technology which is going to touch all our lives and every business. He said that an area where a lot of work needs to be done is in policy and regulation, we need to create an environment that is conducive and encourages innovation, but as the same time looks at the challenges and the down side of innovation. Every aspect of disruption will have pros and cons and until we fully understand the implication of technology this will need to be navigated very carefully and in a balanced manner.
Speaking on the Young Innovators Challenge Award, Debarati Sen, Managing Director, 3M India Ltd said that 3M has significantly enhanced the size for the award for the young innovators challenge from 9 lakhs total prize value last year to 15 lakhs this year. 3M is celebrating 5 years of investing in “Youth & Innovation” through the 3M-CII Young Innovators Challenge Awards. As a responsible business and corporate, 3M is committed to building a community of young innovators capable of nation building and leading the future of the world. The 5th season of 3M-CII Young Innovators Challenge Awards seeks to find ideas and new projects from young innovators communities that are ready to build resilience to the social, economic, and physical challenges that India is facing and lead the future of the world. Also, this year the Challenge has added a new section called “Rural Innovations Awards” to ensure support to ideas working for sustainable rural development.
Sandeep Maini, Managing Director, Maini Group, said that this year the Summit will deliberate on Ai and the way it will drive the growth of industries globally. Ai has already set it significance across healthcare, aerospace and defence, FMCG and retail. One of the most talked about advancements is the deployment of Ai and how it’s used in chat bots. Over 47% of consumers are reportedly comfortable buying items from a bot. Ai provides valuable insights and it has opened the arena for better governance. The application of Ai in governance will be a game changer.
While setting the theme for 14th India Innovation Summit, I Vijayakumar, Co-Founder and CTO, Caryon Data Pte said that the theme is very relevant and timely for India, from a national economic and a human capital development perspective as AI, will be one of the advanced tools that would help us grow and emerge as one of the most desired markets for manufacturing and consumers. The Summit will address the need of the nation to build an AI-led ecosystem for fostering innovation to build our youth’s future in a digitally connected world. The session plan at the event covers a broad scope in terms of AI-led business trends, technology-led new business models, key trends in the future of human labor, the emergence of machine-intelligence in operations systems, and the maturity of machine learning methods in representation of human expertise.
To complement and enrich the conference themes, there is an exhibition arena co-located with the conference event to provide experiential understanding of the real-world products of the new human/machine intelligence paradigm. The pavilions cover the diverse sectors of the industry to represent the macro and micro level of the India’s AI landscape and the potential for the global business growth.
The two-day event will be a meeting of the minds from diverse sectors with a unique mix of corporate leaders, entrepreneurs, Govt. representatives, academia and general public makes this a great networking event as well as a learning experience both for the machines and humans.