Srikanth Velamakanni, Co-founder, Group Chief Executive & Vice-Chairman, Fractal Analytics, feels that the good thing about technology is that we are always finding solutions to problems. Big Data analytics and Artificial Intelligence can help in crises like the one generated by Covid and Fractal Analytics in fact did help out the Mumbai municipality regarding the same early in 2020.
On the topic of ever increasing data, Srikanth said, “The data explosion is huge. In 2014 machine to machine communication became bigger than human to human communication. We will have enormous amounts of data but the good news there is that storage has become very very cheap. We don’t have to discard anything. Processing has become much cheaper with cloud and other technologies.”
“It’s no longer a question of whether we have the infrastructure or processing capacity or not. The limitations will be human limitations… Human imagination will be taken to the next level. It will be tested rather than the processing capacity or the storage capacity. We need better algorithms that will tell you what you need to know, not just want to know.”
On The topic of promoting AI in India, he said, “The AI opportunity in India is vast. One of the things that I propose is that India should make five introductory AI courses free for every citizen. Just teach that to every single person in India. Get the greatest professors in the world, create those courses, develop an e-learning module. 5-10 years from now you will see that India would have really changed the world.”
On the current pandemic: “Covid-19 has created digital acceleration like nothing else. It has really tested the boundaries of what is digitally possible. We had to reinvent ourselves to be relevant. People’s innovation engines have really cranked out amazing stuff just to keep their businesses afloat. We now have to build upon this to the next level. People can digitally re engineer their businesses for the next 10-15 years.”
Check out the complete interview…
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