Artificial Intelligence - Trends & Advancements
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This document discusses the rise of applied artificial intelligence in India and opportunities for startups. It notes that AI can be applied to diagnostics by using deep learning on cellphone camera images of medical samples to provide faster, cheaper, and more accurate diagnoses at scale. Voice interfaces are also seen as a big opportunity, as Indic languages will be the second most spoken after Mandarin by 2050. The document outlines how AI can be used to mine personal data and recommend appropriate savings instruments to Indians. It argues that India is well positioned for rapid AI adoption due to its large mobile workforce, growing data and talent pool, and lower costs compared to other countries.
Artificial Intelligence - Trends & Advancements
- 1. 1 Rise of Applied AI Manish Singhal, Partner, pi Ventures
- 2. 2 $75 bn market globally. Current solutions are expensive, unreliable for Indian conditions. Not much data is digital either cellphone camera attached to microscopes, images are captured and sent to cloud By leveraging deep learning on the images, faster and cheaper (5x) and more accurate diagnostics can be made at scale Founders come from data science lab of Amex, having built enterprise scale solutions earlier on deep learning Applying Deep Learning to Diagnostics
- 3. 3 India is at a Great Inflexion Point More bank accounts opened in India last year than the total number of bank accounts are in US More than 1 bn citizens came onto the digital grid through universal ID project in last 5 years In just last 12 months, more than 100mn new mobile wallets were created from Zero base.
- 4. 4 India is becoming a Mobile Nation By 2020, avg age in India is going to be 29, tech savy and early adopter. Mobile data will cross 1 Exabyte by 2019 435mn Smartphones by 2019, will disrupt both B2C and B2B customer workflows $500bn discretionary spending signalling large market. India would be 3rd largest economy by 2030.
- 5. Built proprietary deep learning platform and latency optimisations schemes, beats google for accuracy for Indic languages 5 Voice Interface is a big opportunity for mobile and IoT as Indic languages will be the 2nd language by 2050 after Chinese Ex. Microsoft (Bing Research), Ph. D. Signal Processing with 7 patents in signal processing (Qualcomm) & Samsung Best speech solution for Hindi and even English in Indian accent with > 90% accuracy, highly scalable API and SDK. Voice is the most Natural Interface
- 6. Very simple saving instrument like Fixed Deposit and saving’s account, are used by most of Indians. Only 9% invest in Mutual funds 6 Working Class millennials in India (15-20mn) have close to $100bn in saving potential. Overall potential of $1.1 tn Founders are ex- Flipkart with deep experience in mobile, technology and domain Mining Personal Data For Right Savings Instruments AI Maturity Level 2 Leveraging Mobile to mine small data (context of spend) and using machine learning to suggest right saving instruments to grow money
- 7. 7 Extreme Personalisation Predictive Business AI will enable new experiences Big Data Small Data Dark Data
- 8. 8 India could see rapid Adoption of AI Retail Fin-tech Cyber security Healthcare Logistics Leading AI practitioners (Microsoft, Google, Amazon) have done a good job in training good talent at lower cost points Indian businesses operate on lower cost structures, making AI impact more meaningful for them, helping in faster adoption Large adoption of mobile workflows, create more data, and fewer regulations, allowing startups to exploit data growth Data Adoption Talent
- 9. Confidential: Please do not share without explicit permission9 Core AI Building Blocks Heavy R&D Spend to solve core problems, ex. NLP, Image recognition, Deep Learning, Speech recognition, Emotions Rise of Applied AI Startups that leverage core AI frameworks to create business value New Category Leaders Mature Applied AI, with new leaders and consolidation by incumbents/laggards *R&D by large Companies pi Ventures Business Value 1990 2016 2020 We are here Inflection Point *Source : Bootstrap Labs Now is the Time to Invest in Applied AI Enterprise Value
- 10. 10 In 1600’s India’s share of global GDP was 25%