Artificial Intelligence: Way Forward for India

Abstract

<p>Artificial Intelligence (AI) is likely to transform the way we live and work. Due to its high potential, its adoption is being treated as the fourth industrial revolution. As with any major advancement in technology, it brings with it a spectrum of opportunities as well as challenges. On one hand, several applications have been developed or under development with potential to improve the quality of life significantly. As per a study, it is expected to double the annual economic growth rate of 12 developed countries by 2035. On the other hand, there is a possibility of loss of jobs. As per the available reports, the loss of jobs during the next 10-20 years is estimated to be 47% in the US, 35% in the UK, 49% in Japan, 40% in Australia, and 54% in the EU. In the era of globalization, no country can isolate itself from the impact of the advances in technology. However, the benefits can be maximized and losses can be minimized by putting necessary infrastructure and policy in place. Though several countries have decided their strategy for AI, India has not yet formulated its strategy. The report reviews the international as well as national scenario and suggests way forward for India. </p>

Enhancing the value co-creation process: artificial intelligence and mobile banking service platforms

“…Confidence in the technology behind a platform may reduce perceived risk associated with technology-based platforms (Lee et al, 2019). In recent years, AI has become an important tool for countering cybersecurity threats (Srivastava, 2018).…”

“…For example, AI is capable of quickly identifying unauthorized use of a customer's account and acting to minimize financial risk with no effort on the part of the customer (Srivastava, 2018).…”

Achieving the Success of Sustainability Development Projects through Big Data Analytics and Artificial Intelligence Capability

“…Artificial intelligence is an effective decision-making tool [23] and it has been applied to the field of innovation management to monitor quality, plan production [13], improve decision-making processes [23], increase productivity, and gain sustainable competitive advantages. The existing research on artificial intelligence focuses primarily on the calculation or tools of artificial intelligence, such as artificial neural networks [24,25], fuzzy logic [21], pattern recognition [21], machine learning [13,21,26], expert systems [13,21], and genetic algorithms [22], as well as the scope of application of artificial intelligence, such as medicine, manufacturing, system maintenance, and environmental pollution [13]. Most of the existing research has focused on the technical aspects of the artificial intelligence.…”

Artificial Intelligence-Application in the Field of E-Commerce

“…Its adoption is being referred to as the fourth industrial revolution due to its enormous promise. (Srivastava (2018) ) Arti icial intelligence (AI) applications are dynamic social structures that cannot and cannot be judged solely by their reliability and accuracy.…”