Participating in a panel discussion on “How Artificial Intelligence, GenAI Are Driving Digital Transformation in Sectors in India,” Roopa Basrur, Vice President, Global Safety Medical Writing at Parexel, a biopharmaceutical services company based in Durham, North Carolina, said workflow automation : Strong decision-making and data search and retrieval are the areas where AI has had the greatest impact on the pharmaceutical industry.
Basrur highlighted the utilize of artificial intelligence in medical writing as well, which includes using data to determine whether a drug is secure to utilize or whether there are warning signs.
“So we developed an internal literature review tool that helps achieve exactly what you’re talking about, which is to reduce the time spent on drug research and drug safety,” Basrur said.
Moving on to an industry that has been reliant on “digital” technologies since its inception, Abhishek Ravi, chief information officer (CIO) of Mumbai-based Indian fantasy sports platform Dream Sports (Dream11), said that for him, artificial intelligence technology is constantly evolving , and not from day to day I wonder. “Artificial intelligence has certainly been a very essential cost-cutting factor for us,” Ravi said.
Digital transformation led by artificial intelligence
Dream11’s CIO said the fantasy gaming platform, which Ravi said saw a 42% year-over-year boost in traffic, would face scale issues if it did not adopt AI-led digital transformation.
“At any given time, we have over 200 experiments running on our platform, and all these platform experiments are powered by AI with various machine learning models,” Ravi said.
The former Infosys employee said intelligence has become a commodity for everyone to utilize, which has eliminated competition between his technology and non-tech teams.
Surfing the digital wave was also not that arduous for Sushil Ostwale, Vice President – Data Science Project Manager at Motilal Oswal Financial Services Ltd.
AI in finance
Ostwal, who represented the financial services industry on the four-person panel, was also among the industry’s first adopters of the technology. For him, “quick wins” were key.
“There is a lot of data, there is technology available, but this is where we started, collecting the data, building the team and gaining confidence in management that data analytics and AI can deliver value or a business outcome,” Ostwala said.
The former Accenture executive said his team then turned to scaling the data infrastructure and, in parallel, looked for a team that could lend a hand “manufacture” data, whether it was structured or unstructured, so that the digital transformation didn’t tardy down.
From data production for financial services to the production of glass containers for vodka and perfumes, the ball with the labels “digital” and “AI” at the Mint Digital Innovation Summit went to Sudip Mazumder, global director of digital and information technology at PGP Glass , a company focused on glass packaging based in Mumbai.
Artificial intelligence design products
Mazumder, representing the manufacturing industry, talked about the utilize of artificial intelligence in bottle design. He used artificial intelligence to design a bottle in the shape of a stiletto, a high-heeled shoe popularized in 18th-century France, after being inspired by the “Good Girl” perfume of the famed Barcelona fashion and perfume brand Carolina Herrera.
“The way AI creates a design concept, I am completely amazed and I am talking about my level. I’m not talking about Open AI, Microsoft or Gemini,” Mazumder said.
When it comes to the availability of skills needed to implement AI, Basrur and Sushil Oswal agreed on the importance of rapid design.
“Every company needs to train their people in AI and generational AI, and they need to start with rapid design, because I would say that’s the starting point,” Ostwal said.
Basrur also noted the importance of “informing the person about the process” and his level of attention before completing the final work.
While the issue of keeping people at the forefront was raised, Mazumder shed lithe on the attrition among people specializing in AI and Gen AI functions.
“This is the reality we face today. Every time I train up-to-date hires in AI and Gen AI, 33% of those up-to-date hires drop out after a year,” Mazumder said, adding that these hires go to places where the demand for diminutive language models is high.
The threat has also penetrated cybersecurity. On this point, Ostwal said companies are putting safeguards in place to protect their systems from breaches and breaches.
The panel discussion came full circle with all four panelists expressing the scope of AI and Gen AI.
Online gaming expert Ravi said AI has provided his team with many opportunities to control phony customer requests, as well as understand gaming patterns and recognize unfair practices.
On the other hand, Mazumder expressed the scope of modernization led by artificial intelligence and AI generation in the field of robotics.
Published: 24 May 2024 22:27 IST
