Artificial Intelligence And Analytics Will Boost Businesses And Job Creation In India: Experts

IFIM Institutions hosted a week-long celebration to discuss the importance of Artificial Intelligence and analytics in creating more jobs


IFIM Business School dedicated a week towards understanding how Artificial Intelligence (AI) and analytics are key game changers for future businesses. Experts round the corner were invited at IFIM to address the students and teachers on various occasions where the emphasis was laid on skilling students and professionals in AI.

Digital Innovation Conclave, AICTE Chairman Dr. Anil Sahasrabudhe’s visit to IFIM Business School and IFIM’s Confluence to talk about future of Fintech were the key events hosted by the institution.

Sanjay Padode, Secretary, Center for Developmental Education (IFIM Institutions), “We need to start training our students right from the initial phase, to be prepared for challenges and opportunities ahead. Academic institutions have a key role to help prepare students take the onus of improving the society. With technical, manufacturing and the corporate sectors being more absorbent to AI and analytics, the challenge lies in going down to the roots. IFIM has an endeavor to provide best holistic education with curriculum that is abreast to the requirements of the industry. AI and analytics have been defined as the future of jobs and thus, we have taken this initiative with support from AICTE and NASSCOM to educate the students on the same.”

Talking about the scope of talent available in the country and the role of public private partnership, Dr Sadagopan, Director, IIIT - Bangalore, at the Digital Innovation Conclave said, “India is a magnet of talent and it is high time this is nurtured by providing the right assistance. With the advent of technology, students in the higher education segment need to be trained to acquire the right skillsets. The country has a bright future in the space of analytics, and therefore it is important for a greater focus on data and a good scope for businesses to grow in this space. This should be reflected right from the stage of curriculum design, to help cultivate the right talent at the right time. Government along with the academia needs to actively participate to catalyze the growth in analytics, AI and IoT.”

The discussion also brought out the importance of AI and automation in various fields including agriculture and Fintech sectors.

“As artificial intelligence and data analytics take the center stage in industries and academics, it is high time that their usage should be maximized in the agriculture sector as well. AI has stepped into every sector globally and India is on the road to incorporate the developments. Technology industries are increasingly adopting analytics into their working and the academia is developing around new courses to fulfill the industry needs. Hence, the combination of these two focused towards agriculture can do miracles for the oldest industry on the planet,” commented AICTE Chairman Dr. Anil Sahasrabudhe on his visit to IFIM Business School.

Additionally, the same effect is being witnessed in segments of the society such as banking and Fintech. Nithin Kamath, Founder and CEO, Zerodha, who spoke at IFIM Business School’s Confluence, highlighted the rising star in financial sector, Fintech and the opportunities and challenges around it. “The challenge that Fintech companies faced in the last five years was on-boarding clients. However, with the government’s push towards digitization, this sector will see many growth opportunities. Investors are taking more interest in Fintech due to AI’s help in better data and advanced analysis. About 70% of our clients are now opening an account online. This is a huge shift in paradigm,” he said.

IFIM Institutions believe in nurturing the students to bring out their best, be job ready and continuously employable. The institution would continue to provide platform for knowledge exchange on artificial intelligence and analytics. 

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