Entrepreneurial ecosystem has been thriving since last decade. Emerging startups in every domain has paved the way for a diversified growth in the Indian economy. There is an increase in the employment rate of the country and people of every age are getting familiar with a plethora of employment opportunities across all sectors. So, how these developments are sprouting up so fast ? The answer is technology. With the advent of new technological trends like AI(Artificial Intelligence), IOT, Machine Learning, Neural Networks or neurotechnology based wearables, startups have realized the importance of technology in today’s day and age. Every startup now takes initiatives towards approaching business strategies that are an outcome of structured and sustainable use of technology.
Artificial Intelligence and Robotics promises a bright and innovative future of the Indian startup ecosystem. The AI algorithms have already helped automate several iterative procedures and services of legacy platforms and generate a personalized solutions for consumers. In India a startup called Niramai developed a solution called Thermalytix, which is a computer aided diagnostic engine powered by AI to detect breast cancer. This has surpassed an old procedure of mammography that is restricted to women of age 45 and above. Healthcare sector is looking forward to many such developments by utilizing AI tools.
AI and Robotics go together in demystifying several complex challenges in Healthcare. For example, in China the major outbreak of Coronavirus, led to shortage of doctors and nurses. Many staff has gone for leave or left their jobs. In such a traumatic phase, most of the nurses avoid going to patients’ rooms now and then for serving food or essentials so a robot has been employed instead for this purpose where it goes to deliver food to the patients ward. This is a preventive measure taken by the country to prevent more people from catching the virus.
Entrepreneurs use very smart tactics with the help of technology to carve out a niche for themselves. Especially for an early age startup which needs right promotional and marketing strategies the sound knowledge of technology can help it blossom. AI integrated with SEO can help entrepreneurs develop a more user centric solutions for their consumers where a complete user persona is studied by their AI model. Chatbots are clear example of how a business is driven and customer experience can be unfolded in a better way. AI integrated solutions can be found in logistics and fintech startups as well. One such fine example is Rubique that helps the user with the best financial match making solutions based on the AI recommendations. In agriculture sector also we can see the role of AI. CropIn is one stop platform which predicts trends based on real time data patterns and does live reporting.
Already the market has seen the emergence of AI based startups. Once there was an era where email messaging, google hangouts, skype were used by businesses across all sectors for exchanging information but today’s technology like drones, chatbots, robots have become our modern messengers. The day is not far when boutique robotic studios will come up to provide robotic assistance for day to day activities like picking up your garbage from the yard or parking your car in the garage and any such laborious jobs that you could ever imagine.
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