Digital India has been focusing on the Modi government for several years on a number of initiatives to adapt technology to its business for Indian business owners. GST was a big change, and SMEs had to move away from pens and paper and incorporate technology into their businesses.
The announcement of the Union Budget 2018-19 further reveals that the government wants to implement technology to drive growth.
Finance Minister Arun Jatley said the government wants to invest in research and development in new areas such as machine learning, artificial intelligence and robotics.
This is a welcome move for startups that have focused on business process automation and artificial intelligence. “By focusing on AI and blockchain, India has promised not only to be digital but also to deeper technology.
The macro direction is very encouraging and we expect great results.
The FM budget address has promised to build a much more ecosystem. effective than startups, angel investors and VCs, simplifying regulatory systems, and encouraging early signings and funding. ”Padmanja Ruparel, IAN Co-Founder and President of IAN VC Fund Founding Partner.
With government approval of an artificial intelligence-based economy, startups and companies in this sector can further open the way to outsource their products to other companies.
Several industries in the country have already adopted automation, but the government’s focus on automation will allow other companies to enter the technology field. Shreyas Chandrahasan, co-founder of Option 3, said:
Sector that makes AI a favorite
Banking and Financial Services: The traditional banking industry has undergone a digital transformation process. A recent Citigroup survey revealed that “30% of banking jobs could be lost between 2015 and 2025, mainly due to automated retail banking,” worldwide.
But what needs to be realized is that AI is the way to take the job. What you need to focus on is how to use it to make communication and operational processes easier and re-skill the workforce.
Education: Artificial intelligence and slow machine learning. Students can take lessons at their own pace with the right combination of technology and devices.
Zishaan Hayath, founder of Toppr.com, with the help of AI and machine learning, ensures that customized learning becomes apparent and helps transform area training into student strengths and weaknesses. Show it.
The real estate sector has long been troubled by the involvement of intermediaries. Like consumers and developers, interacting with these middlemen is often a difficult task.
However, because real estate may include AI, you can consider ways to eliminate middlemen and make transactions and transactions more transparent.
Healthcare: Healthcare AI can be beneficially used for a variety of reasons. There are several studies that use AI and machine learning to accelerate the pace of healthcare innovation.
So far, AI is trying to solve some of the biggest healthcare challenges in the areas of personal genetics, drug targeting, new disease diagnosis, and healthcare consumption.
Logistics: In a previous article on entrepreneurship in India, Locus was written by CEO and co-founder of West Lastoji.
A sea of data where you don’t know where and how to go. This is where artificial intelligence (AI) breaks down in the scene, and even the most elaborate dataset can speak their sense under command.
According to Rastogi, AI can take advantage of the data platform to process terabytes of data and create data together to determine patterns and anomalies. These models are managed by predictive analysis and can predict some of the variables mentioned in the example above.
How automation helps employees
When talking about Process Robot Automation, whether it’s rule-based or cognitive, it helps companies not only improve business and quality, speed and efficiency, but also relieve stress on employees.
Probably, founder Payeli Ghosh told Option3 in a previous article on entrepreneurship in India.
As the business grows, the amount of processing increases proportionately and the data increases accordingly. When employees try to deal with it, it becomes complicated and stressful.
RPA relieves this stress by eliminating repetitive, time-consuming and repetitive tasks. Automation should therefore be welcomed as a reminder of productivity. “Soon, the bot is very effective, quickly without fatigue.