To those who are in the United States, Happy 4th of July!
Marching towards a futuristic world, Amazon is now hiring its workforce using AI. Automation software is being increasingly used by them to manage the workforce spread across warehouses. This is being done using the amazing Amazon Flex App which is enabled to monitor the performance of independent delivery companies and contract drivers.
Amazon India launched Flex in 2019 creating job opportunities and enabling people to be their own boss by creating their own work schedules and following them to deliver Prime and non-Prime packages on the company's behalf. Anyone above the age of 18 who has a valid driving license, and a two-wheeler could sign-up to use the app and earn from it.
More tech giants could soon be seen following Amazon's footsteps. Google, for example, is already communicating with its workforce through AI.
Gartner, the IT research firm, is also poised to automate 1.8 million HR jobs in the next decade. But will that mean cutting human jobs for good? This is the first thought which runs through a lot of minds when we read about automation of any existing jobs. But I believe that there is no need to be fearful of this. Automation will bring into existence a far greater number jobs than it is thought to be displacing. In doing so it also offers new tools for entrepreneurs, and who knows, it may also open up entirely new lines of business, opening vistas of work that have been hitherto unimaginable. Automating jobs which can be performed by AI is not the end of the world.
Gartner itself will create a whopping 2.3 million new jobs. Human jobs and AI will co-exist and be interdependent, at least that's what I see from where I look at it. AI is also posed to help people perform their jobs better and in smarter ways. Echoing the thoughts of Paul Daugherty, Accenture’s Chief Technology and Innovation Officer at the World Economic Forum I concur that “Human plus machine equals superpowers.” In fact, one of our blogs written way back in 2017, talks about it as well.
(Click on the image below to go to the blog).
This week in the Infinite Analytics blog series, we bring to you five AI films you absolutely must watch. These are our team favorites over and over. You can read about it here.
Being involved with this tech on a daily basis at work, we spend our downtime watching movies, documentaries, and web-series on AI. This helps us understand people's perception of the medium besides giving us our weekly dose of entertainment. Through this blog post, we hope it does the same for you too. Get that bag of popcorn out, a can of your favorite drink in hand and watch on. While it would not be alien to imagine sports statistics using AI, the technology has now entered locker-rooms too. In our next blog, we explore the various arenas of sport to which AI is applied to deduce if we are headed into a future where a data-backed approach will change sports as we know it today.
The Story of Us!
A lot of you have requested that I write about how IA came into being. Over the next few weeks, I’ll dedicate this small section to talk about the Story of IA.
Puru (my co-founder) and I met at MIT, in a class at the MIT CSAIL (Computer Science and Artificial Intelligence Lab). The class (Linked Data Ventures) was taught by Sir Tim Berners-Lee (Inventor of the World Wide Web) and Lalana Kagal. The class was all about the Semantic Web, Knowledge Graphs, breaking data silos and creating a web of data.
Schmooze Butler went on to reach the semi-finals of the MIT $100K Entrepreneurship Competition and also got selected in the inaugural batch of the MIT GFSA accelerator. As we worked our way through the accelerator, we realized the multiple use cases Schmooze Butler could support. This led to the re-christening of Schmooze Butler to Infinite Analytics.
Closing this edition of our weekly newsletter with a spot of humor for the weekend
If you have ever been in the business of video editing, especially when a famous celebrity was involved, and no matter how much you try to salvage the video, you cannot; deepfakes will help with that clip and your video will be made uninterrupted. Earlier, movie directors would spend millions on creating the perfect location for their movies. This is now achievable with a far lesser sum using deepfake and AI. Deepfakes can be real game-changers in film-making. Imagine new movies starring Charlie Chaplin opening to full houses. This, ofcourse, after all the copyright issues are taken into consideration..
What is the brand which comes to people's mind when they think about purchasing consumer electronics- is it Reliance Digital Retail Ltd.? Has Xiaomi Technology finally positioned itself as a premium brand? What is common between multi-brand electronic retailers and the people who visit them? What is consumer mindset of someone who wants to purchase consumer electronics and what other places these people go to and what are their brand affinities like?
Sherlock AI (powered by Infinite Analytics) looks into all the people who visited consumer electronics stores in the month of October and connects the dots. Take a 3 minute journey and understand consumer mindset of electronics buyers analytically!
Did you know that jewelry stores’ visitation went up by 125% during the Dhanteras weekend? Sherlock AI analyzed all consumers who visited jewelry stores pan-India and revealed that though typical weekend footfall surges in Jewelry shops is around 16%, the Dhanteras weekend contributed to a whopping 125% surge! WHOA!
Indians have always preferred gold as an asset class and an investment vehicle. With Dhanteras being among the most auspicious occasions to buy gold, Indians did indeed flock to the ‘market’ to buy gold.
It’s most obvious in the digital media space, from click buys to personalized web experiences. For marketing, the AI journey has just kick-started, while in the tech sector it has been applied for a while now. We are still at an early stage where inroads are being made into AI content via chatbots and even some explanatory content creation but what will make anyone jump up and embrace it is when we will start seeing a lot of mainstream content being created by AI.
Prior to joining Infinite Analytics, Richard served as the CFO of CrowdFlower, COO and CFO of Phoenix Technologies, as a member of the board of directors and chairman of the Audit Committee at Intellisync, and previously as CFO and executive vice president strategy and corporate development at Charles Schwab.
Pravin Gandhi has over 50 years of entrepreneurial operational and investing experience in the IT industry in India. He was a founding partner of the first early stage fund India - INFINITY. Subsequently a founding partner in Seedfund I & II. With over 18 years of investing experience, he is extensively well networked in investment and entrepreneurial scene and is an active early stage angel investor in tech & impact space. Pravin holds a BS in Industrial Engineering from Cornell University, and serves on the board of several private corporations in India. He is on the board of SINE, IIT Mumbai Incubator.
Puru has his Masters in Engineering and Management from MIT. Prior to MIT, he worked with Fidelity Investments building electronic trading products and high volume market data processing applications. He has completed his BE from VJTI, Mumbai.
Deb Roy is Professor of Media Arts and Sciences at MIT where he directs the MIT Center for Constructive Communication, and a Visiting Professor at Harvard Law School. He leads research in applied machine learning and human-machine interaction with applications in designing systems for learning and constructive dialogue, and for mapping and analyzing large scale media ecosystems. Deb is also co-founder and Chair of Cortico, a nonprofit social technology company that develops and operates the Local Voices Network to surface underheard voices and bridge divides.
Roy served as Executive Director of the MIT Media Lab from 2019-2021. He was co-founder and CEO of Bluefin Labs, a media analytics company that analyzed the interactions between television and social media at scale. Bluefin was acquired by Twitter in 2013, Twitter’s largest acquisition of the time. From 2013-2017 Roy served as Twitter’s Chief Media Scientist.
Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and Senior Fellow at the Stanford Institute for Human-Centered AI (HAI), and Director of the Stanford Digital Economy Lab. He also is the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR), Professor by Courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a Research Associate at the National Bureau of Economic Research (NBER).
Akash co-founded IA while studying for his MBA from MIT. Prior to MIT Sloan, he co-founded Zoonga. Before this, Akash was an engineer with Oracle in Silicon Valley. He has completed his M.S from University of Cincinnati and B.E from the College of Engineering, Pune.