Communitech Forms Indo-Canada Innovation Bridge with India’s T-Hub

Communitech has signed a memorandum of understanding with T-Hub of India today, announcing the intent to partner in support of global commercialization of each other’s technology companies. 

The memorandum of understanding was signed during a ceremony in Mumbai, India by Lisa Cashmore, Communitech’s Director of International Strategy and Jay Krishnan, T-Hub CEO in the presence of the Bardish Chagger, Leader of the Government in the Canadian House of Commons and Minister of Small Business and Tourism.

The partnership forms an Indo-Canada Innovation Bridge anchored by Communitech, an industry-led innovation center that supports, fosters and celebrates a community of more than 1400 tech companies in Waterloo Region, Canada and T-Hub, India’s largest startup incubator.

Communitech and T-Hub will share office space, programming and mentorship as well as create a program where companies of both countries will join to resolve corporate innovation challenges. The partnership presents three goals:

• A co-innovation program with joint development between Canadian and Indian innovators and entrepreneurs,

• Market access for Communitech entrepreneurs through T-Hub’s India Market Access Program based on product-market fit, and

• Indian and Canadian startups and researchers working together on solutions to innovation challenges corporate businesses face in both countries.

“Our government is committed to making Canada a world leader in innovation. In order to truly achieve this objective, we also understand that in a globally connected world, we need to partner with like-minded countries, like India, to build strong connections and help our entrepreneurs create world-class companies,” said Minister Chagger.

“These partnerships also help to encourage investment and forward thinking, giving our best and brightest a stage on which they can shine. Today’s agreement between Communitech and T-Hub will help to enable this important work. I congratulate both organizations on this agreement, and wish them, and the many great companies they will work with, the best of success for many years to come.” “Forming a partnership to support Canadian and Indian innovation in tech companies is a huge opportunity. India is in the top five most requested markets through the Canadian Digital Media Network (CDMN) Soft

Landing program, so we know it is a market that is of interest and importance to the companies we work with,” said Cashmore. “This partnership will help Canadian startups and technology firms have direct access to Indian markets and support on the ground.” “T-Hub and Communitech share a common philosophy to make our corresponding ecosystems vibrant, technology-driven, and also driven by international aspirations. With the signing of this MOU, we will be providing a platform and opportunity for startups and corporates from both countries to access each other with support provided on the ground in a structured, programmatic way,” said Krishnan.

Accenture Launches New Artificial Intelligence Dual Testing Services

Accenture has launched new services for testing artificial intelligence (AI) systems, powered by a unique “Teach and Test” methodology designed to help companies build, monitor and measure reliable AI systems within their own infrastructure or in the cloud.

Accenture’s “Teach and Test” methodology ensures that AI systems are producing the right decisions in two phases. The “Teach” phase focuses on the choice of data, models and algorithms that are used to train machine learning. This phase experiments and statistically evaluates different models to select the best performing model to be deployed into production, while avoiding gender, ethnic and other biases, as well as ethical and compliance risks.

During the “Test” phase, AI system outputs are compared to key performance indicators, and assessed for whether the system can explain how a decision or outcome was determined. It uses innovative techniques and cloud-based tools to monitor the system on an ongoing basis for sustained performance. For instance, a patent-pending normalization technique uses a unique algorithm to test object recognition more quickly.
 
“The adoption of AI is accelerating as businesses see it’s transformational value to power new innovations and growth,” said Bhaskar Ghosh, group chief executive, Accenture Technology Services. “As organizations embrace AI, it is critical to find better ways to train and sustain these systems – securely and with quality – to avoid adverse effects on business performance, brand reputation, compliance and humans.”
 
According the Accenture Technology Vision 2018, AI systems require addressing many of the same challenges faced in human education and growth: fostering an understanding of right and wrong, and what it means to behave responsibly; imparting knowledge without bias; and building self-reliance while emphasizing the importance of collaborating and communicating with others.
 
“Testing AI systems presents a completely new set of challenges. While traditional application testing is deterministic, with a finite number of scenarios that can be defined in advance, AI systems require a limitless approach to testing,” said Kishore Durg, senior managing director, Growth and Strategy and Global Testing Services Lead for Accenture. “There is also a need for new capabilities for evaluating data and learning models, choosing algorithms, and monitoring for bias and ethical and regulatory compliance. Accenture’s “Teach and Test” methodology takes all of this into consideration to help companies develop and validate AI systems with confidence.”
 
Accenture used its “Teach and Test” methodology to train a conversational virtual agent for a financial services company’s website, so that it could engage in accurate, unbiased conversations and know when to refer conversations to a human. The agent was trained 80 percent faster than previously possible and achieved an 85 percent accuracy rate on customer recommendations.
 
The methodology was also used to teach a sentiment analysis solution to evaluate a brand’s service performance by analyzing social media, news and other sources in real time. Having the right training data enabled the solution to correctly interpret sentiments in different contexts and domains. The training time for models was cut in half, enabling faster analysis and business results.
 
Accenture AI Testing is part of a complete range of testing services that helps quality engineering professionals be a catalyst for speed, agility and business performance while achieving radical productivity. Accenture serves over 1,000 testing clients across more than 40 industries and is recognized as an industry leader in testing innovation. More information on the ”Teach and Test” methodology can be found here.

Priyanka Upendra Unveils Godrej Interio’s Flagship Store in Bengaluru

Godrej Interio, India’s leading furniture and interior solutions brand launched its flagship retail outlet in India’s Garden City, Bengaluru. The 6000 sq. ft, state of the art store was launched by celebrated actress, Priyanka Upendra. Also present at the launch was the National Head of Operations and Business Development, Godrej Interio, Brijesh Verma, who highlighted the reasons for Godrej taking keen interest in the Karnataka market. He shared that currently the Southern region market contributed to 25% of the brand’s overall national home business revenue and this store is a testimony of the brands further expansion plans for the region

Located in Nagarbhavi, the fastest growing residential area of the Garden City, the store lies in close proximity to the outer ring road and link road. This provides customers an easy accessibility to the brand. The store offers specially crafted products in home furniture, mattress and home storage segments with modular storage solutions, the largest selling category in India in different styles and finishing.

As part of the launch celebrations, the store is offering its customers assured discounts on every purchase under the scheme. Customers will also receive a gift of Rs. 999 free on the total value of the purchase on shopping of Rs 50,000 or more.

Emphasizing about the relation between sleep, good health and furniture, Priyanka Upendra said, “I am extremely delighted to be present at the launch of this new store. As an individual who travels excessively, I understand the importance of sleep in today’s fast paced lifestyle. Sleep deprivation leads to multiple health complications and affects a person’s daily routine. It is therefore noteworthy that Godrej Interio has launched new healthcare mattresses at an affordable price to encourage a healthy sleeping pattern amongst people.”

Speaking about the relevance of the launch, Brijesh Verma, National Head of Operations and Business Development, Goderj Interio, said, “Bengaluru is one of the most important markets for us since this vibrant metropolis has always had a penchant for designer and modular home furniture. In recent years, this metropolis has attracted leading interior brands of the world. However, this store provides us an impetus over competition and furthermore offers great opportunity to expand and strengthen our brand in the retail furniture market. The Garden city contributes about 32% of the brand’s southern home business revenues and contributes to Rs 70 Cr annually. We aim to increase this target by 18% through channel expansion and new product launches catering to this promising market.”

Mahindra Electric and Baghirathi Group Jointly Power Karnataka’s EV Dream

Mahindra Electric, part of the diversified US$19 billion Mahindra Group and a pioneer in the development and production of electric vehicles in India and Baghirathi Group, a leading shared mobility service provider based in Bengaluru, today flagged off a fleet of 50 electric vehicles comprising Mahindra’s e-Verito from the Vidhana Soudha or State Assembly. This marks the beginning of the eMobility Awareness Campaign spearheaded by the Government of Karnataka.

The flag-off took place in the presence of  Chief Minister of Karnataka, Siddaramaiah and  R.V. Deshpande, Minister for Medium & Heavy Industries, who also shared their vision of eMobility for Karnataka, at the event.

Mahindra Electric also announced an additional investment of Rs 400 crore over the next 5 years, in the state. The investment will be utilized towards expansion of capacity, setting up of new EV technology innovation centers and expansion of the skilled team working in the EV space.

The Baghirathi Group also announced the launch of its brand rydS which will focus on low carbon, zero emission sustainable mobility solutions for all.  rydS plans to deploy 1000 electric vehicles for its enterprise clients. This deployment augments the recently announced electric vehicle and energy storage policy of the Government of Karnataka which aims to create a conducive environment and necessary infrastructure for electric mobility in the city.

Speaking on the announcement, Mahesh Babu, CEO, Mahindra Electric said, “We are very happy to lead the EV movement in Karnataka and be active participants in the eMobility awareness campaign initiated by the Government of Karnataka. Karnataka is our home ground and we already have three fully functioning facilities in Bengaluru. The role played by Bhagirathi in urban mass mobility is giving an impetus to electric vehicles as well with the recent order of 1000 eVeritos being one of the biggest in Indian corporate mobility. I am sure that together, Mahindra & Bhaghirathi can reshape the dynamics of mass mobility to make it clean and green in keeping with our state government’s objective”.

Speaking about the initiative, Mahesh Hariharan, Founder Chairman of Baghirathi Groupsaid, “rydS marks the next stage of evolution of our organization, building further on our vision of creating shared, connected and sustainable mobility solutions.  We intend to work closely with our customers, and with policy makers to implement the EV policy. Our action plan focuses on developing the infrastructure for manufacturers to support a fleet of electric vehicles across the country, starting with Bengaluru.”

Canara HSBC Oriental Bank of Commerce Life Insurance Promises to Deliver Best in Class Customer Experience through Technology

Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance has scaled up their entire technological infrastructure and added significant digital outreach capabilities to meet customers' needs in real time and ensure convenience at all stages. The Company aims to become a complete digital organization in the next three years.

The customer's end to end needs from product offering to the service should be fulfilled at the distribution point & the bank branch has been the focus of the Company. The Company believes in leveraging technology for an enhanced customer experience and has enabled various sales & service solutions which help in increasing operational efficiency at every stage of the life cycle. The Company runs a paperless process from customer contact to policy issuance and the service cycle.

The Company offers a comprehensive customer service platform with various servicing avenues equipped to handle & assist all life insurance policy servicing requests and queries efficiently. The Company has introduced video call service wherein the customers can interact over a video call for resolution of their query/service requests. Apart from this, to increase the engagement levels of the customer and to strengthen long term relationship, the preferences of the customers are captured at various touch points during the customer life cycle so as to give customized and preferred solutions during the life cycle.

In line with the vision, the Company has launched a brand campaign - "Aapke vaade, sar aankhon par" which is all about 'Living the Promises'. The tagline symbolizes the company’s resolve to honor every commitment made to its customers.

Anuj Mathur, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited said, " Aligned to our vision of keeping customer first and our constant endeavor to enhance servicing capabilities, multiple initiatives have been taken to augment customer’s overall servicing experience and create a true 'one stop shop' for the customers. "Treating Customers fairly", "Right sale to the right customer" & a comprehensive "Engagement Strategy" are the tenets of Company's business approach which are driving our work philosophy."

Speaking about the brand campaign Mathur added, "We are in the business of financial protection and “Vaade” or “Promises” aligns perfectly with our line of business. This campaign conveys the strong value system that we as an organization stand for. At the core of our value system has been the essence of "Promise" - the promise to fulfill the promises made by our customers to their loved ones."

The Aircraft that Saved J&K in 1947 - DC3 DAKOTA – is Back in the Indian Airforce

In a Historic moment for the nation and the Indian Air Force, Rajya Sabha MP Rajeev Chandrasekhar today gifted a  DC3 Dakota aircraft bearing the Tail Number VP 905 and called “Parashurama” in a signing ceremony to The Indian Air Force to be part of  its Vintage Fleet.

The Gift Deed was signed between Air Chief Marshal Birender Singh Dhanoa, PVSM, AVSM, YSM, VM, ADC , Chief of the Air Staff of the Indian Air Force and Air Commodore M K Chandrasekhar, VM, VSM (Retd)- Rajeev Chandrasekhar’s father who an Dakota Pilot himself.

The MP gifted the restored WW2 Dakota aircraft’s Papers & Deed to Chief of Air Staff on behalf of his father.

This Tail No. VP -905 is the same as the first Dakota aircraft that transported troops of 1 Sikh regiment to Srinagar on 27 October 1947 in the J&K operations.

The Tail No. VP 905 - this holds special significance for the Dakota and the Indian Air Force.

On 27 October 1947, three Dakotas of No. 12 Sqn took off from Wellingdon airfield (Safdarjung) at 0500 hours for Srinagar signalling the start of the IAF operations in the 1947-48 Indo Pak War. Before the end of the day, 28 Dakota sorties were flown (including 6 civilian sorties.)

The first Dakota Aircraft to take off and land at Srinagar piloted by Wing Commander K L Bhatia and carrying the first batch of troops of 1 Sikh Regiment under command of Lt Col Dewan Ranjit Rai bore the Tail No VP 905.

Speaking on the Occasion, MP Rajeev Chandrasekhar said “The Dakota (Dak) was also part of my childhood as my father flew it all over India and so today I fulfil my dream of helping my father donate a DC3 Dakota to the Indian Air Force”

“This aircraft VP 905 is dedicated to all Air Warriors and their families who served an flew the Dakota in various IAF operations in remotest parts of #India from 1947-1971” an emotional Air Commodore M K Chandrasekhar, VM, VSM (Retd) said.

“On being asked on why he chose the Aircraft to be named “Parashurama” the MP said “The Dakota DC3 was named Parashurama - to signify the eternal warrior – after Saint Parashurama - the sixth avatar of Vishnu. Like other avatars of Vishnu, he appears at a time when overwhelming evil prevailed on earth to correct the cosmic equilibrium by destroying the evil forces.”

Royal Sundaram Signs MoU with Manipal Global Academy of BFSI for a 1-year General Insurance Training Program

Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurance company, has signed a Memorandum of Understanding (MoU) with Manipal Global Academy of BFSI for a customised general insurance training program at the Manipal Global’s Academy of BFSI campus in Bangalore.

The candidates will undergo a one-year customised residential general insurance training program at Manipal Global Academy of BFSI. The one-year full time training program, will comprise of four months of training on-campus and two months of internship followed by six months of on–the–job training at Royal Sundaram. The course is designed to upskill prospective employees with the right domain knowledge, develop a broad understanding of the business, products and processes that will help them perform on the job.

The program entails the following:

·         Business understanding -Provides a broad understanding of the general Insurance industry, the customers and their needs, thorough case studies, advisory skills and customer engagement.

·         Product & process knowledge -The program shall impart relevant general insurance  knowledge (product, services sales & claims) to the candidates enabling them to engage customers confidently and proactively

·         Building attitude- The program will provide behavioural skillsets to the future employees to significantly enhance customer engagement through greater ownership and superior acquisition quality

·         Values, ethics and compliance - Enabling the candidate to  sell general insurance products better with the help of required knowledge, skills, attitude, compliance, focus and the required certification as per regulatory norms for selling general insurance products

Speaking on the occasion, M S Sreedhar, CEO & Managing Director, Royal Sundaram General Insurance Co. Limited said, “We as a company have always had the foresight to look at the bigger picture and we believe that acquiring the right talent starts from the grassroots. The general insurance industry is poised to leap into the next growth wave and we at Royal Sundaram will be part of that growth in grooming the next wave of industry-ready professionals. Here is a course that enables the candidates to acquire the right attitude, values, ethics and compliance that will help them succeed in the industry.”

Bimaljeet Singh Bhasin, Vice President, Enterprise Business, Manipal Global Education Services (MaGE) said, “We are happy to partner with Royal Sundaram for skilling its general insurance professionals. Insurance industry thrives on empathy and relationships. We are glad that Royal Sundaram is serious about its employees possessing sound business understanding, product and process knowledge, attitude and values. We are confident that the employees who undergo this training program will be the ambassadors of Royal Sundaram and help expand its ‘good business’".

Rakesh Gupta, Chief Human Resources Officer, Royal Sundaram General Insurance Co. Limited said, “This initiative will strengthen the Royal Sundaram Academy, the learning and development platform for existing and potential employees. All company learning initiatives will be driven by it; one that will also help bridge the gap in competencies available in the General Insurance industry today”.

On successful completion, students will be awarded a Post-Graduate Diploma in General Insurance and will be offered direct employment at Royal Sundaram. The aim of the General Insurance Training Program is to mould officers of high calibre in the field of general insurance and create workforce that matches the company expectations and culture. The first part of the General Insurance Training Program will commence in June 2018 in Bangalore.