March 25, 2023

The Analytics Summit 2023


The Analytics Summit 2023, which focused on inclusion of Artificial Intelligence and Machine Learning into Business Plans featured expert speakers from the industry. Dr. Shailashree Haridas, the dean of FOMC spoke about the importance of the BBA Business Analytics course. She highlighted the importance of multidisciplinary approach by way of understanding concepts of coding, analyzing data, mathematics, data visualization, diverse software tools and professional social media. Mr. Lakshmi Prasad, Vice President with SAP Labs, who moderated the discussion highlighted the fact that adoption of AI and Machine learning in every sphere of business is accelerating at a very fast rate. Mr. Gaurav Dadhich, Director of Product Management and GM Razorpay shed light on the importance of trust and safety in building a customer base. He felt that financial transactions using AI is a classic example of the inclusion of technology.

In day-to-day activities. He predicted that search methods will drastically change, with YouTube’s “most viewed” part of a video as a case in point. Dr. Prasanna Shrinivas, VP, Data Science Practice, ITC Infotech spoke about the importance of segregation of data and accessing proper data at any given point in time. He opined that classification and forecasting bring criticality and certainty to the organization. He shared insights about data-centric problems, algorithmic bias, operations cost and user adoption. Mr. Prasenjit Ghosh, VP Engineering Lead, Enquero spoke about how execution is one of the most important aspects of the organization. With ideas about balancing competition, stress and work-life gaining importance he observed that having a strategy is vital, and analytics is the new focus. Defining the use scale and bare minimum data is important before including analytics in the organization. For instance, in the field of agriculture understanding soil composition, and growth structure with the help of AI is a game changer. This further helps farmers to grow berries more efficiently and helps them make accurate decisions. He added how combining Human intelligence and AI is the new focus of the industries and touched upon academic integrity of ChatGPT. Mr. Somak Banerjee, Senior Program Manager Wipro Technologies spoke about the importance of the 3Es: Effectiveness, Economy, and Efficiency and the 3Ms: Men, Machine and Material. He discussed how they work together and interact in business. He felt that the right mindset is crucial when it comes to running a firm and ethical considerations should drive equity. He also mentioned the need of evaluating oneself in terms of how effective we are at implementing initiatives.

He pointed out that RPA is increasingly being employed in the business and therefore, it is critical to upskill and educate oneself on how to be best prepared for RPA influence. Mr. Ravi Ranjan Prasad Karn. Principal Product Developer, Data Scientist, BMC Software presented examples of AI failing to predict risk as effectively as people while discussing how to strike a balance between AI and human connection in business analytics. He stated that AI is produced by people and can only be controlled by humans. A business needs to stay informed about current events and market developments in order to progress and avoid falling behind. Ms. Saravana Kumari Sundaram, thought leader and author, shared insights on the prediction of AI displacing workers. She stated that adaptation is essential and that it is not about competition, but rather about collaboration between AI and humans. She considered AI to be a new participant in the ecosystem. She also offered a few instances and her experience with the market change from the 1990s to the 2000s. Domain knowledge is what can be introduced into the sector as AI grows. The primary distinction between AI and human intelligence is that people possess critical thinking abilities as well as the ability to extract data through interpretation and understanding. Mr. Abhishek Bhaskar, Beatboxer, Creator of The Metavoice Project began his session with beatboxing and audience participation activities. He focused on Web 3.0, AI, and the future of work. He demonstrated how AI can translate text to create images and gave examples of web pages, making tasks related to marketing, design, coding, and other fields easier like never before. He also shed light on ANI, AGI, and ASI, as well as the position of humans and bots in that spectrum. The Analytics Summit 2023 was organized by the Faculty of Management and Commerce, department of BBA (Business Analytics) on March 24, 2023 at RR campus.