Steps Towards a Future with Purposeful AI™
While debates about job automation and ethos of artificial intelligence (AI) continue, technology stalwarts — individuals and organizations — pursue AI advancement, collectively giving it a purpose that can eventually make our lives better and solve some grand challenges facing the planet. Google just launched a massive open AI division, making available on cloud its Tensor Processing Units, which can accelerate both training and running machine learning (ML) models, for developers. An American software firm Cylance Inc. leverages AI, algorithmic science, and ML to prevent cyberattacks. Tesla has achieved considerable success in building capabilities to prevent collisions for automated vehicles. At Infosys, we continue to build on the capabilities of Infosys NIA, our next-generation integrated AI platform. Besides helping our clients in faster revenue reconciliation (CPG), better forecasting (pharma), and dynamic fraud analysis (banking) among others, Infosys NIA is also bringing significant automation-led productivity improvements to delivery efficiencies across our own service lines. In the last 12 months, it has helped us eliminate the efforts of around 11,000 full-time employees, thereby helping us repurpose those people into more valuable and meaningful tasks.
Organizations across the board are acknowledging the potential of AI. In a recent study commissioned by Infosys, ‘‘Amplifying Human Potential: Towards Purposeful Artificial Intelligence’, out of the 1,600 IT and business decision-makers interviewed, 76 percent cited AI as fundamental to the success of their organizations’ strategy and 64 percent believed organizational growth is dependent on large-scale AI adoption. A majority (84 percent) plan to train employees on the benefits and use of AI, and 80 percent plan to retrain or redeploy impacted employees.
In this issue of Infosys Insights, we present various perspectives on the larger purpose of AI to help you trace meaning across massive technology-driven changes, which is beyond complete comprehension for most of us. On the cover, Abdul Razack, tells you why adopting AI should not be about choosing one or two from a list of AI techniques, but using a wide range. Because, today, the true potential of AI is unfathomable.
In the Ideas & Beyond section, the spotlight is on ideas, inspirations, and pursuits that could inform the future. Kris Gopalakrishnan, co-founder of Infosys and Chairman of Axilor Ventures, elucidates the second AI wave — on why the confluence of human intelligence and AI will amplify growth and ensure sustainable progress. In the other article, Abhijit Shroff, Senior Principal, TechArt, focusing on next-gen cloud and AI platforms, knocks over the fear and paranoia surrounding AI — about robots controlling humans.
In the Tech Talk section, we get down to the brass tacks across three industries. Mohit Joshi, President and Head of BFSI, Healthcare and Life Sciences, Infosys, explains why and how ML can eliminate all regulatory compliance woes tangled in complexity for decades. Madhu Janardhan, Head of Retail, CPG, and Logistics (Americas), Infosys, writes about the potential transformation of the logistics industry through big data and AI. Venky Ananth, Vice President, Healthcare, Infosys, captures how the industry is coming face to face with automation and AI and what could be a roadmap to start the journey.
In the Renew-New section, we focus on the duality of renewing the past and exploring the new in the time of being digital. Is there a safety net for ‘digital refugees’? Holly Benson, VP and Managing Partner at Infosys Consulting, ponders on this question with some insightful data. In the next article, Dominique Leroy, CEO of telecom major, Proximus, converses with Rajesh Krishnamurthy, President and Head of Energy, Utilities, Telco, and Services, Infosys, explaining why the company is cautiously optimistic about adopting AI. Then, Aniket Maindarkar, tells you what constitutes ‘smart’ in smart retail.
In the final section, Research Unraveled, Dr. Martin Prause, professor of Computational Economics (CE) and Business Analytics at Otto Beisheim School of Management, Germany, highlights the applications of CE in today’s business landscape and how AI can improve business simulations.
I hope this issue provides you with a rich outlook on AI and helps you make informed decisions for your business.