Future of Work 2020: Sameer Dhanrajani, Co-founder of AIQRATE, shares his take on the power of AI
Will artificial intelligence (AI) take over human intelligence? Is AI applicable across every industry? What is the cost of implementing AI, is it expensive? Is AI complex? AI is not for the masses?
There is hardly any industrial domain today which is not harnessing the benefits of artificial intelligence to accomplish efficiency, accuracy, and affordability, while cutting down on the time taken by manual processes. And yet, there are a million myths surrounding this re-merging tech tool that continues to question the utility and implementation of AI in day-to-day activities.
Sameer Dhanrajani, Chief Executive Officer and Co-founder, AIQRATE Advisory & Consulting, busted some of these myths on Day 1 of Future of Work, India’s largest product-tech-design conference hosted by YourStory.
To explain his point further, he cited the example of Japan’s Makoto Koike. An engineer by education, Makoto went back to his parent’s cucumber farm and began developing a new approach with the help of technology. In the process, Makoto realised there was something in the making – the making of an algorithm, which could give him some understanding about the yield, crop, and the prices. And this is just one area of the application of AI.
According to Sameer, there are at least three strategic imperatives for growth through AI and it involves re-imagining customer experiences, innovating new products and services, and transforming businesses. The AI advisor also touched upon the algorithm economy, explaining how algorithms are impacting modern decision making.
From healthcare to education, sanitation, and marketing practices, artificial intelligence is making its presence felt across sectors today. While AI alone might not be able to address all issues and solve all the problems, Sameer notes that combined with data intelligence and design, it can surely revolutionise the future.