Latest news with #KishanSundar
Time of India
a day ago
- Business
- Time of India
People behind the code: India Inc's blueprint for human-centered AI
Artificial Intelligence may be driven by algorithms, but its true strength lies in the people shaping its path. On AI Appreciation Day 2025, the world applauded cutting-edge models and automation. But the real story lies with the curiosity, caution, and commitment of leaders who are using AI to solve real-world problems — not just showcase its potential. Across Indian boardrooms — from manufacturing to markets, retail to risk management — technology leaders are proving what the latest research also shows: That AI's evolution is about more than capability. It is about conscious transformation. The MIT Sloan–BCG 2025 AI Global Executive Study recently found that while 72% of companies view AI as critical to their strategy, only 11% are seeing substantial ROI. The difference, researchers say, lies in how leaders build trust, ethical foundations, and production-ready systems — not just technology. India's leaders seem to have taken that lesson to heart. From overpromising to grounding expectations When Vrijesh Nagathan, Chief Information and Digital Technology Officer at Marico, began the company's AI journey in 2019, the promise was bold: AI would fix everything their transactional systems couldn't. "We assumed AI could work around inconsistent data," he shares. "But real progress came when we focused on building strong data foundations, aligning expectations, and improving governance.' That wisdom mirrors findings from the IDC AI Readiness Report 2025, which shows that organizations with robust data quality and governance are 3x more likely to scale AI with measurable impact. Today, Marico uses AI to power agility, decode shifting consumer behavior, and reimagine product innovation in the fast-moving world of FMCG. His takeaway? Start with realism, not hype. Banking on trust and transparency Financial institutions, often seen as cautious adopters of technology, are showing how responsible AI can actually accelerate innovation. "Generative AI has moved from theory to practical application," says Kishan Sundar, CTO at Maveric Systems. "It's not just about automation anymore — it's about smarter decision-making, stronger risk controls, and embedding trust into the very fabric of operations." According to the World Economic Forum's 2025 AI in Financial Services survey, nearly 60% of financial firms rank explainability, compliance, and transparency as critical to AI success — even above speed or cost savings. Kishan emphasizes the importance of balance — innovation with governance, and measurable value across customer experience, compliance, and digital transformation. From experiments to enterprise grade AI At Happiest Minds Technologies, Sridhar Mantha, CEO of its Generative AI Business Services unit, is focused on taking AI from the lab to production — at scale. "Our distinctive approach integrates domain-specific AI into the software development lifecycle," he explains. "With strong MLOps, ethical leadership, and strategic partnerships, we consistently deliver GenAI solutions with measurable business outcomes." That approach is in line with Gartner's 2025 prediction that over 50% of enterprise AI initiatives still fail to move beyond pilots — mainly due to inadequate engineering for scale and lack of robust ethical and governance practices. And as Sathya Natarajan, Head of IT, R&D at Bajaj Auto Limited, notes: "Design iterations become limitless at the speed of imagination with Generative AI. When imagination sparks innovation, Generative AI turns ideas into digital reality — effectively closing the gap between design ideation and real-world production." Human-centric innovation For Sachin Panicker, Chief AI Officer at Fulcrum Digital, appreciation means reflection — and responsibility. "We see AI not just as a tool, but as a strategic enabler of innovation and equitable growth," he says. "But true appreciation comes when we design with transparency, ethics, and humanity at the center." This reflects findings from the Stanford AI Index 2025, which reports that while 57% of people globally fear misuse of AI, 63% are open to embracing it if clear ethical safeguards are in place. Sachin and his team invest in talent development and responsible frameworks, ensuring their AI solutions empower people, rather than replace them. AI that works and thinks green Even in the high-stakes world of capital markets, AI is being deployed with a sustainability mindset. At HDFC Securities, Wilbur Pereira sees overlooked potential in AI's power to optimize IT operations. "AI can help reduce carbon impact — whether by predicting trading peaks to scale infrastructure or detecting idle computers to minimize energy waste," he says. "The most successful AI doesn't make us more machine-like. It helps us be more human." This aligns with Accenture's 2025 Sustainability Through AI study, which reports that enterprises using AI to optimize energy consumption have reduced IT-related emissions by up to 20% — proving that AI can help companies meet both business and climate goals. Appreciation with intent It's easy to get caught up in the marvel of what machines can do. But as these leaders remind us, AI is only as impactful as the intent behind it. It's not about chasing trends — it's about solving real problems, building trust, and designing a future where technology supports people, not overshadows them. Because the real story of AI isn't about machines replacing humans. It's about humans redefining what's possible — with AI as their co-pilot.
News18
5 days ago
- Business
- News18
UPI Chargeback Rules Changed: What It Means For Payment Platform Users
Last Updated: NPCI's new UPI chargeback rules, effective July 15, 2025, aim to enhance user experience and trust. The National Payments Corporation of India's (NPCI) newly introduced UPI chargeback rules, effective from July 15, 2025, are expected to significantly improve user experience and trust in the country's fast-growing digital payment ecosystem. With nearly 600 million UPI transactions occurring daily, the need for a streamlined and time-bound dispute resolution framework has become critical. A key change is the removal of the whitelisting requirement. Previously, if a user's chargeback request was declined—often because it exceeded the claim cap—banks had to approach NPCI for special approval via the UPI Reference Complaints System (URCS). Now, banks can directly mark genuine, earlier-declined chargebacks as eligible for reprocessing, cutting delays and manual dependencies. 'It's a necessary advancement in India's payment ecosystem," said Kishan Sundar, CTO of Maveric Systems. He noted the changes will drive upgrades in backend systems, including automated reconciliation and real-time dispute dashboards. Kunal Varma, CEO of Olyv, added, 'The process will now be less confusing and more trustworthy for users," as strict turnaround timelines give users clarity and recourse. Rohan Lakhaiyar of Grant Thornton Bharat highlighted that the chargeback changes address technical errors like double debits and fraud, which are increasing with rising UPI volumes. He emphasized that the strict TATs for issuing and acquiring banks will ensure disputes are handled efficiently. A chargeback allows UPI users to raise formal disputes when a transaction fails but money is debited. The URCS platform continues to be the core mechanism for managing these disputes, now with fewer hurdles. It aims at simplifying the chargeback process for those raised beyond the capping that were introduced in 2023. It will help foster confidence in the UPI payment system and allow users to raise legitimate chargebacks efficiently. Strict TAT mandates for acquiring and issuing banks for processing of chargeback request will ensure legitimate chargeback requests are resolved in a timebound manner and shall enhance trust in the system, Lakhaiyar added. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
