IT industry lobby Nasscom has launched "Xperience AI" programme to accelerate artificial intelligence adoption among Indian enterprises in core industries, it said. The initiative will be spearheaded by Nasscom's Centre of Excellence (CoE) for Data Science and Artificial Intelligence (DSAI), it added in a media statement.
Co-innovation will act as a catalyst that will enable enterprises to adopt these cutting edge technologies to stay relevant in the digital world, Nasscom said. Under its "Innovate2build" platform, Nasscom will help organisations to co-ideate, co-create and co-innovate to solve critical business problems, it added.
According to Nasscom, it is imperative for Indian organisations to deploy AI for accelerated business growth coupled with societal impact. As per Niti Aayog report, AI has the potential to add $957 billion dollars to the Indian economy by 2035. AI start-up ecosystem in the country currently boasts of more than 400 startups and has attracted investment of more than $150 million dollars over the last five years, Nasscom estimated.
"The speed of innovation and the wide array of use cases (across all process areas and domains) necessitates organisations to adopt co-innovation as a business strategy," Nasscom said in the statement adding that broadening its efforts in accelerating the adoption of AI by Indian enterprises and expediting the process of value creation, CoE – DSAI’s ‘Xperience AI’ programme will reinforce the purpose of catalysing co-innovation.
During the first cohort of the programme, CoE – DSAI has brought in CXOs from more than 75 Indian enterprises across BFSI, retail, healthcare, manufacturing, energy and has also curated 30 AI innovators together to understand, explore and exploit the capabilities of AI, it said.
“During its one year journey, CoE- DSAI has been accelerating the innovation quotient as well as nurturing the growth of AI ecosystem by enabling public transformation, talent development and co-creation through industry collaboration. The impact has been at the ground level and has a multiplier effect across the country,” said Mohanakrishnan P, head CoE – DSAI.
According to Nasscom, as a part of its efforts towards a better India and AI for Good, CoE-DSAI has worked closely with MyGov to help interpret the sentiments of 8 million users through innovative solutions in conversational AI. From the 40 innovators who participated, MyGov identified 5 innovators who have the technical innovations and the right economic model to enhance effectiveness of governance.
CoE has also assisted Karnataka Forest Department to optimise its timber sales through an AI framework for insights and analytics curating a set of 25 innovators and one has been now shortlisted to execute the project, Nasscom said. The same solution can be replicated across other forest departments, it added. Similarly, CoE has also helped upskill various government officials and faculty members, it added
The CoE-DSAI was established by the government of Karnataka on a public-private partnership model with Nasscom as its programme and implementation partner.