I would like to give you a sneak peek into the Infinite Analytics Prosperity Index.
Traditional measures of prosperity and Socio Economic Classification only take into account out dated measures such as # of appliances in a household, and the salary of the head of the household. These data sets are so out of touch with reality, that we at IA built our own Prosperity Index based on multiple data sets (at least 8) that are current, always updated in real time and a better representation of prosperity and potential to spend.
Opening up the Prosperity Index for the city of Mumbai for you. Give it a spin at:
This Prosperity Index is used by the IA team as well as some of our clients to understand potential consumer behavior. Some clients have seen an immediate increase in the efficiency of their customer acquisition by at least 20%, once this Prosperity Index was used.
If you would like to get an API access or greater understanding of this, please reach out to us.
Now to other things:
In a bold judgement, an issue which crops up every now and then has been laid to rest (at least for now) by a federal judge in the US who said a computer using AI cannot be listed as an inventor on patents because only a human being can be an inventor under the U.S. law. A global effort has been launched by The Artificial Inventor Project, run by Ryan Abbott, Law Professor, University of Surrey. to get a computer listed as an inventor. Abbott plans to appeal this judgement. As the use of AI grows such cases are poised to come up before the judiciary more often.
India is gearing up to witness its first solo exhibition of AI Art. The exhibition, to be held in Kolkata later this month, will exhibit the works of Harshit Agarwal at Emami Art gallery. Harshit has been nominated twice for the Lumen, the top tech art prize and has been practicing AI art for more than six years. In the world of AI there has been nonstop chatter around the role of traditional artists in the fast-changing scenario in art. Delhi based Art Gallery Nature Morte has already held a group show in 2018 featuring AI artworks. They have, since then, moved on to launch Terrain.art, a blockchain-powered online platform focussing on contemporary art from South Asia. In this backdrop, I am particularly excited about Harshit's show and how it will contribute to the future of AI art in India.
On a lighter note 😊
Incidentally, AI education is making big strides. This week saw the launch of Marri Laxman Reddy Institute of Technology's ‘Artificial Intelligence and Machine Learning’, a new centre of excellence laboratory. This lab will be providing skill enhancement and latest facilities to students in emerging technologies. Armed with this unique gift students have been enabled to work with ML and AI.
Our blog post for this week breaks down Text Mining for you. Text Mining is often thought of as a complex process, but the reality is quite different. The blog explores how a Text Analytics engine works by explaining the various steps to prepare a document for analysis i.e. Language Identification, Tokenization, Sentence Breaking, Part of Speech Tagging, Chunking, Syntax Parsing, and finally Sentence Chaining.
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.