By Nitya Pandit
Creating a new opportunity in the Artificial Intelligence (AI) realm, Google launched Cloud AutoML on 17th January. This new platform will help businesses overcome the constraints of machine-learning expertise and assist their building of high-quality models, using superior techniques provided by Google. The internet giant also claims that Cloud AutoML gives less skilled engineers the chance to build the AI systems of their dreams.
More details on the launch
The platform provides applications not only related to automation of product aspects like patterns and styles for clothing firms but also greater analysis of images of animal species that helps organizations conserve wildlife globally. Unfortunately, the field of AI and machine learning has high entry barriers due to the level of expertise required, which only limited companies can afford. While there are approximately 21 million developers in the world, only a million data scientists are currently using AI facilities. Hence, Google wants to increase the accessibility to this field for developers.
The tech giant will launch Cloud AutoML as Cloud AutoML Vision, a service that will increase the speed by which machine learning models for image recognition can be created. The platform will have a drag-and-drop interface, allowing companies to upload images/train-and-manage models, which can be used on Google Cloud.
Googles role in India
For the 5th Launchpad Accelerator, a mentorship program launched by Google, four Indian startups have been shortlisted. This addition of startups has led to having 30 Indian companies that have joined this accelerator program at Google Developers Launchpad Space in San Francisco. At this accelerator, the tech giant has provided a nurturing ground for AI startups, ranging from one that can collect insights to help travellers, to ones exploring medical data for reduction of human error. Through this six month program, startups are linked with high-quality networks, people and technologies. During this time, these companies are also provided with venture capitalists and mentors from leading tech giants.
AI application across sectors
One of the most popular uses of AI is to increase the productivity of sales and marketing functions in retail companies. The priority for retail and banking organizations is to have improved customer experience and loyalty, aspects that AI can help these firms with. On one hand, with the help of AI implementation, financial services firms can advance their regulatory compliance and fraud reduction. On the other hand, retail and automotive companies need AI in order to increase the consistency with which decisions are made. However, AI doesnt come without its own share of challenges. The concerns with AI range from having high costs for solutions, shortage of skilled workers and uncertain return on investment to cybersecurity. Another challenging area is regulatory compliance and lack of quality data.
AI in India
With the increasing adoption of AI, 68.6 percent of Indian organizations are expected to implement AI in only two years. According to an Intel India commissioned report, 194 Indian organizations were surveyed out of which 71 percent are eyeing process automation as a benefit which would encourage spending on this evolving technology. This research is a step towards shaping a strategy for companies that are still understanding the AI sphere.
While AI does pose certain challenges, there are newly forming opportunities that India can benefit from; the country can gain advantages of improved business efficiencies, customer engagements, and revenue amplification.
Featured Image Source: Robert Scoble on Visualhunt.com / CC BY