Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Artificial Intelligence To Drive Business Growth In India

Absolutdata, a leading data analytics firm, recently launched an artificial intelligence-driven decision engine, the NAVIK AI Platform. The platform combines data, analytics and technology to optimise decisions on an ongoing basis without a data science team

Photo Credit : ShutterStock

1476269497_3s2ITq_AI.jpg

Absolutdata, a leading data analytics firm, recently launched an artificial intelligence (AI)-driven decision engine, the NAVIK AI Platform. The platform combines data, analytics and technology to optimise decisions on an ongoing basis without a data science team.

The platform operates at a higher level to improve decision-making. Cases with sales and marketing teams demonstrate that it is capable of delivering amazing results across industries. The platform automates data integration and harmonization from multiple sources including existing CRM and marketing automation systems.

“The technology may not replace the entire human race in the time to come but it will perform a lot better than how we perform at this point in time. One of the examples could be the revolution that is happening in the automotive industry that has witnessed some of the major breakthroughs and is expected to replace the top down manufacturing relationships with automotive-technology association giving way to self-driven vehicles,” said Titir Pal, vice-president of products and solutions, Absolutdata.

Moving away from research projects to major elements of upcoming products at some of the world’s major automakers, the development is expected to increase the demand of AI, robotics computer programming and digital networks.

“We conducted extensive market analysis and assessed the need gaps that existed. Our research revealed a persistent worldwide shortage of data scientists, and this has held up companies’ adoption of AI in sales, marketing and brand management. The NAVIK tool’s non-technical front-end was developed to addresses this problem through an integration of back-end and front-end elements of the user interface,” said Titir Pal.

The Indian IT and start-up sectors have a lot to benefit from AI. It will offer companies the unparalleled advantage of data-driven decision-making which will improve their efficiency and provide cost effective alternatives to certain business processes. Start-ups that are brassic can adopt and integrate AI technology to make their business process data and intelligence-driven, giving the most value for their investment in AI.

Speaking about adoption of AI in Indian market Titir Pal said, “Artificial intelligence in India is still at a very budding stage. In the more developed markets of the world, AI was built and developed over a period of 20-25 years to achieve the current state of worldliness. In India, so far AI has been leveraged mainly for prescriptive analysis of data. It is expected to take another 4-5 years for companies to adopt AI into regular business processes and undertake data-driven decision-making.”