AI DRIVES ECONOMY TOWARDS GROWTHZain Saeed
Artificial Intelligence (AI) is the loophole that connects the world at the time of the pandemic. Every sector is trying their hand at the AI technology to reap a fruit out of it rapidly. AI doesn’t disappoint them. AI is patching the broken economy due to Covid-19 and is seeing a growth in its usage across the globe.
A draft paper released by Niti Aayog states that artificial intelligence is expected to spike India’s annual growth rate by 1.3% in 2035. The paper titled ‘Towards Responsible #AIForAll’ also mentions that there is a potential of large scale AI adoption in a variety of social sectors. All these plans are on track. But what happened suddenly is the pandemic that made the growth even faster. India is one of the front-runners in adopting AI technology to fill the gap that the pandemic has made.
According to a survey conducted by IDC, more than 2000 IT and line of business decision-makers agreed the adoption of AI is growing worldwide. AI is a transformation technology using which humans live and work helping repetitive tasks or customizing products and services. AI systems further aid humans by reducing the error rate as the technology is automated and only follows data inputs rather than human thinkings. AI data is widely adopted by various sectors for its accurate predictions and solution making efficiency. AI analyzes the data input and works according to that.
Due to the pandemic, global economies are trying to recover from the crisis using technology. The search for AI in diverse sectors is looking to automate the support operations to reduce cost and at the same time, looking to maintain and deliver better customer engagement and experience.
When it comes to adapting to the growing AI technology, India is making good progress. The usage of AI technology to boost the business corridor is improving the Indian economy.
AI doesn’t deceive like humans and work at an unpredicted speed which attracts the customers. So humankind is quite assured that we are heading towards a safe future with fair predictions and technologies.
When AI is ready to do the entire job for humans, people too should be concerned about not taking AI as their personal asset and impose discrimination through it. To keep away the disaster, the managing team should be diverse based on gender, race, education, disability, and skill set. The team should conduct constant user research and testing, and training the system.
Some of the vital sectors utilizing AI technology during Covid-19 pandemic
Adapting AI technology in Manufacturing: Factory floors are hard hit by Covid-19 as the infection rate could multiply in the workers’ mass if not maintained properly. So during the pandemic, manufacturing companies are switching to AI technologies like cloud platforms and drone cameras that bridge the lack of human hand and at the same time work as a supplement. Bharat Light & Power (BPL) Group set up Industry.AI far before the pandemic when one of their windmills burned down. The loss was huge. To prevent further incidents, the company adopted AI technology to use big data analytics and machine learning tools to predict failure in wind turbines before any major damage could be caused. But the technology saved their business during the pandemic. Floor managers and supervisors are the most vulnerable to the virus as they do a lot of groundwork. The usage of AI technology has minimized the human surveillance in the factory and maximized AI detections. The technology also centers on the cloud-based system that deploys a combination of visual analytic models, mathematical models, and neural network models to analyze existing video feeds from cameras from the factory floor.
New applications to improve healthcare: Tech during Covid-19 is a front-runner to detect, prevent, trace, and cure Covid-19 patients at the time of a Pandemic. One such initiative by the Indian government using AI technology is the ‘Aarogya Setu’ app. The app is providing precautions to the citizens by sending them alerts and providing services in real-time. The app is also used as anxiety management for masses, relieving them from fake news all over the media.
Another healthcare initiative by the Indian government is the launch of COVID India Seva. India Seva is an effort by the government to build a direct channel of communication with people of the country and respond to their queries on-time. The app also features a program to let citizens ask questions and post feedback in the public domain about its performance.
Agritech startups come to aid farmers: India is home to more than 450 Logitech startups. The growth rate of the startup is at 25% every year according to a Nasscom report published in 2019. The traditional chain of supply got interrupted due to Covid-19. As a damage control move, agritech startups are helping farmers connect with buyers, automate supply chains, and build the next layer of data analytics to drive efficiency by using AI. It also provides actionable advisories to farmers via mobile in vernacular languages on-farm sensors.
With the emergence of AI in all divisions, people are concerned about the security and privacy of information. To reassure security to them, the government should put a specific law on how much data should be collected from people and what amount of them is an open and concealed source. If the government works to conceal personal or sensitive data like expression, opinion, health records, bank account numbers, people will have more faith in technology and its adaptability.