Internet Of Things And The Future of Start-ups: Is It Here To Stay?
Mr. Suhale Kapoor, Co-founder, and EVP Absolutdata- An Infogain Company, Mr.Rajesh Murthy, Founding Architect, and Vice President Engineering Intellicus Technologies, Mr. Krupesh Bhat, SignDesk, Mr. Avneet Singh Marwah, CEO Super Plastronics, speak to Ms. Vasudha Mukherjee, Editorial BWBusinessworld about the Internet of Things, Artificial Intelligence, and business productivity.
Avneet Singh Marwah initiates the discussion to highlight the role of AI in our day-to-day life; “The biggest distraction in the last 4 years has happened because of smartphones. Now that will be shifting to the bigger screen, that is, smart TV. The biggest screen in your home will be connected to all your smartphone devices. Everything will be through your voice; your voice will be your new UI. Our vision is to expand AI technology, with our platform partner Google.:
Krupesh Bhat adding to the conversation states, “We primarily work with financial institutions as we are going through a huge fintech revolution in India right now, where banks and financial institutions use our technology to digitally onboard their users.”
Given the importance of IoT, Rakesh Murthy highlights how the data should be processed, “There are so many dimensions data can be collected and data is collected, using IoT. The data is used for immediate attention, so you have to put the data under certain checks. This is called event processing.”
Commenting from the Indian point of view on its digital potential, Suhale Kapoor adds “You have large MNCs who are operating out of India. They are using India as a bed of innovation. A lot of FMCG MNCs, are actually building AI platforms and first testing them in the Indian market, and if successful, they are replicating it globally. AI is very scalable….It is literally a requirement now that if you are a funded start-up, you need an analytics team…. It is not just data, but also how you use it.”
Concluding on the areas we need to focus on, and advice to young entrepreneurs, Avneet Singh Marwah states, “ I want to touch base on a couple of things the first is privacy, we did not have any laws and India was not at all strict. 4-5 years back we never thought we will be reaching over here, we have manufactured android Television in India. I see a very bright future, the only thing is Indian Government needs to have long term policies which are conducive for young entrepreneurs.”
Adding to this chain of thought, Krupesh Bhat adds “Opportunity will lie with entrepreneurs to commoditize this AI, so all businesses can use it….AI is eventually going to become a part of everybody’s life, it will become a commodity technology….Big data problems have been solved by large companies, so you don't need to develop your own algorithm.”
Adding to the conversation, Rajesh Murthy states, "I have two suggestions from my side if you are building a company ensure that from the beginning you comply with the laws, if the client is GDPR compliant, their vendor's vendor's n=vendor will also have to be GDPR compliant. Second, the government is doing a lot of things to bring about IoT technology, which is a huge size."
