Decoding the Future of Innovative Technologies – CNBCTV18

AI and Cloud share a symbiotic relationship where AI makes cloud computing highly effective while the cloud makes AI accessible and affordable for all enterprises. Whether it is lead generation, communication with customers, demand forecasting or understanding failure rates, the humongous amount of data thrown up provides sufficient information that can be converted into meaningful insights.

A panel discussion on the Future of Innovative Technologies was held as part of the AI & Cloud Virtual Summit presented by CNBCTV18.com in association with Dell Technologies. The session, moderated by Reema Tendulkar, had stalwarts from diverse industries including, Mayur Danait, Chief Information Officer, Pidilite Industries, Jagdish Ramaswamy, President and Chief Digital Officer, Hindalco Industries and Bhuvan Lodha, Vice President, Digital, Mahindra Group. The leaders discussed the use of AI Cloud Computing in their industry, the various use cases and the challenges faced.

Evolution of Cloud Strategy

The constant development of technological infrastructure has ensured that the world is more connected. Cloud offers on-demand storage and management of data that can be used by enterprises to generate better actionable insights. According to Mayur Danait, enterprises have evolved their cloud strategy from using the cloud for email, file sharing and instant messaging to infrastructure as a service followed by the platform as a service and today extensively leveraging the AI services of the cloud. Cloud Computing and AI are being used to improve the utilisation of factories, improving the quality of goods and optimisation of costs. Most enterprises are moving to a cloud-first strategy for new initiatives.

Agile Development of Solutions

When AI is integrated with cloud computing it enables the agile development of solutions that improves process efficiency and minimizes error rates becoming a win-win for businesses and customers. Prediction of failure rates can be used to reduce defects in the manufacturing process, improve quality and prevent wastage.

Interaction between Cloud and AI

AI and Cloud Computing feed off each other empowering businesses by enabling automatic transaction identification and allocation, failure detection and development of predictive solutions. The panellists talked about the need to shift from solving problems in silos to developing holistic value chain solutions to extract the maximum benefit.

Sifting Data from Noise

AI and cloud collaboration are necessary to access data that can convert into meaningful inferences to be used by businesses. The amount of data that is collected is huge and sometimes may not translate into anything useful which makes it essential to extract the useful pieces from the bulk to translate into measurable outcomes.

Challenges in AI & Cloud Adoption

Businesses that have combined AI with cloud data solutions are poised to maximize asset utilisation and scale their applications faster. The option of using a combination of public and private cloud-based on data sensitivity is ideal for large enterprises. Continuous accessibility and internet connectivity, however, become a challenge in hybrid cloud environments since continuous data exchange from enterprise server to cloud are critical in this setup.

The scarcity of highly skilled professionals who can implement the changes is proving to be another challenge for enterprises. Bridging the skill gap is essential and businesses are making all efforts to recruit the right talent.

The panellists were of the common view that cloud-based applications offer endless possibilities for the effective use of the data generated via AI and IoT. Enterprises have actively moved on to adopting the emerging technologies and finding new use cases for them in every industry. AI in combination with cloud computing has become a potent combination with visible results that no business can afford to ignore.

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Decoding the Future of Innovative Technologies - CNBCTV18