Artificial intelligence is propelling India’s dream of becoming a USD 5 trillion economy and its use cases are becoming evident day-by-day. According to a TeamLease report, AI is expected to add USD 450500 billion by 2025 and USD 967 billion by 2035 to the Indian economy. The marvelous success story of OpenAI’s ChatGPT opened doors to a world open to the adoption of AI at a high rate. AI is no longer a term used in future tense; it’s very much a driving force in the present. Several industries and businesses are optimistically integrating tech tools to improve customer experience, increase marketing and sales, and have an edge over their competitors. To shed light on the profound impact of AI across various domains, we spoke to a few players who have embarked on this co-AI journey to share real-world applications, benefits, and challenges of its integration.
A HELPING HAND IN HEALTHCARE : In a country with a population of 1.4 billion, India accounts for a mere 64 doctors per 100,000 people. This falls below a world average of 150 doctors per 100,000 people. In situations like these, AI can be a good helping hand for medical professionals. In fact, in early 2023, The Indian Council of Medical Research (ICMR) released the country’s first Ethical Guidelines for Application of Artificial Intelligence in Biomedical Research and Healthcare. With this, they aim to create “an ethics framework which can assist in the development, deployment, and adoption of AI-based solutions” in the specified fields. Tracxn, a market research firm, notes that there are 208 start-ups using AI when it comes to diagnosis or treatment in India. AI can particularly help with mental wellness for individuals. Some of the players in this space are Wysa, LISSUN, Shyft (formerly Mindhouse), Sukoon, Innerhour, Trijog, YourDOST, and Mitsu.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How To Ask Family For Money
Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.
Data Breach Drama: When Trust Turns Costly In A Digital Age
Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?
THE TERRAIN TAMER
Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.
THE INTELLIGENT READS
Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.
THE CURSE OF GROWING TOO FAST
FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"
Give Yourself the Gift of Time
Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
