Hope you are having a great weekend. Once again, beginning this edition of our newsletter with a spot of humor 😊
We are already in the second half of 2021. Time spent in lockdown goes excruciatingly slow, but here we are. These are times when fitness is in the minds of one and all. So, in some exciting wellness-related news this week, an IIT-BHU student backed with NASSCOM Foundation and Cisco Thingcubator has developed what is being claimed as the first version of an AI-powered yoga platform (currently accessible through a website) which will teach the users to perform the ascetic discipline in a correct way.
Multiplayer Yoga Gameplay, the community-based yoga platform detects and corrects yoga postures of users with audio-visual assistance. The technology will be available on Android and iOS later this year. While Zoom yoga sessions are all in vogue, and AI-based yoga apps are aplenty, I am excited to see what an India-based AI-powered yoga platform brings to the table. Having read this wonderful news our blog this week explored the various yoga apps and tools already being used. You can read all about how AI is changing the fitness industry here.
Then there are smart gadgets like a continuous glucose monitor (CGM) — a nifty device which can be worn on either the stomach or an arm for 2 weeks and it continuously tests the glucose levels of the user. The data can be viewed through a mobile app and one can actually monitor the foods that cause a spike in glucose levels. The impact of such AI technology can be almost instant, and one can get a rain check on carbs, alcohol, and fat.
May I also reiterate how these AI-powered platforms are continuing to deliver some highly personalized experiences. When Bestseller India’s top-selling brand Only experienced a dip in sales in 2019, they sought IBM's help in finding the right product mix across their stores in India. IBM's AI tool, Watson, provided unparalleled data insights down to which colored top is likely to sell better at which outlet and many such details. Consumer preferences will be given top priority and they now hope to reduce their unsold inventory by at least 5% below the industry norm. Our past blog posts have already spoken about this personalization by platforms such as Amazon and Netflix which use the customer's past behavior to recommend the next buy or next 'watch'. This year, we are likely to witness how far this personalization will be stretched and what fruits it bears for businesses. Here's hoping!
I had also written a blog long back, about how Amazon doesn't get personalization. You could read it here.
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.