Though artificial intelligence (AI) is a relatively young technology, it has been widely utilized across all sectors and businesses. Companies from numerous industries have been looking for methods to use AI across functions to save time, and money, and increase productivity.
“Our clients have started saving about 50% of the time spent on each task,” said Mukul Gupta, Minfy’s principal enterprise architect. Though this raises concerns about the employment security of individuals participating in these duties, he contends that AI will not replace humans; rather, humans who do not utilize AI will replace those who do.
Addressing the India Internet Day event organized by TiE, he stated that Minfy, which provides AI solutions to businesses, is simplifying business solutions to assist clients across sectors. He stated that Minfy has just created a chatbot for human resources activities such as performing preliminary interviews, providing paperwork help, navigating the HR site, etc.
A significant advantage of new technology is that entrepreneurs begin to explore business concepts based on it. Similarly, in India, various AI-driven start-ups are sprouting. In response, Sampath P, Partner at Kalaari Capital, remarked, that AI has several aspects. While some are building AI-powered products, others are providing data protection, developing guardrails, and so on.” According to him, AI is being applied in a variety of applications. While some start-ups build corporate software, others focus on consumer applications.
“That is how we define our AI investments.” According to Rohan Chincholi, chief digital officer of Havas Media Network, “AI has progressed from being an experimental technology to being an essential component of consumption. D2C organizations have been aggressively implementing AI across numerous roles, from providing personalized shopping suggestions to identifying the correct target demographic for items, brand creation, and campaign design.
According to Chincoli, with the correct cues, such time-consuming chores may be completed in only 15 minutes. Gupta concluded the seminar by saying that AI can only solve preliminary and repetitive activities.