Latest news with #SandipPatel
Economic Times
2 days ago
- Business
- Economic Times
AI regulations key to safe usage amid possible disruption: Tech experts
Artificial intelligence is ushering in a new era of productivity as well as risks that enterprises and the government need to be prepared for, industry leaders said on Thursday. While AI will be a catalyst for India's economic growth, guardrails and governance will be key to adopt the technology safely and to build resilience amid possible disruption, they said. 'If we truly want to move towards Viksit Bharat in 2047, that will be rooted in technological empowerment, inclusive economic growth, and digital sovereignty, and AI truly can be an accelerator,' said Sandip Patel, MD, IBM India & South Asia. AI adoption in India is higher than in other countries, as per a global survey carried out by IBM, Patel said. However, this is more experimentation while adoption at scale still in trust and confidence in the technology are a key reason for this, he said, adding that credible cases with the right ROI are also needed. IBM itself is adopting the technology, with 95% of its HR processes now being done using AI agents, said B Lall, COO, Microsoft India & South Asia, said businesses should look at how to reshape their processes. 'As the world gets more agentic AI, we're hearing of terms like human-in-the-loop, human-on-the-loop and human-out-of-the-loop, as agents get to be more autonomous and they do most of the work by talking to other agents,' he said. At the same time, enterprises need to empower their employees with AI, he added. 'It's not just about giving them a tool that helps them to use AI, it's fundamentally changing the way organisations are looking at talent – do you need somebody with 20 years of experience or you could get somebody with lesser experience with a powerful AI assistant?'AI is bringing a moment of irreversible acceleration where intelligence is not confined to machines but also gets embedded into life itself, said Debjani Ghosh, distinguished fellow, NITI Aayog and chief architect, NITI Frontier Tech Hub.'India will have a very key role to play in shaping this future,' said Ghosh. 'Our tradition of human centric thinking, inclusivity, respect for collective good - this must become our competitive advantage in a world that needs to get anchored in trust for its survival.'There will be bad actors who master the technology much faster, however, and countries need to build resilience to recover quickly when things go wrong, she added. Shiv Siddhant Kaul, co-chair, CII National AI Forum & MD, NICCO Engineering Services, said that CII's AI taskforce has been focusing on outreach and workshops to familiarise businesses with AI, especially MSMEs which may not be engaging much with the is also a generation gap in awareness and use of AI, he said, with the 48–55 year age group lagging.'For most companies, it's going to be existential because newer companies that are empowering younger people are going to figure out how to use AI, and our challenge will be making sure that the companies that are left behind don't leave a big-sized hole in our society in terms of employment,' Kaul Singh Bhamra, founder & CEO, AgNext Technologies, said that startups are embracing AI and tend to do this with precise use cases rather than broad experimentation given their relatively limited resources compared to large it comes to agriculture, AI can play a role in optimising inputs and measuring output quantity and quality, which would be needed to build algorithms that can help us increase food production, he said.
Time of India
3 days ago
- Business
- Time of India
AI regulations key to safe usage amid possible disruption: Tech experts
Artificial intelligence is ushering in a new era of productivity as well as risks that enterprises and the government need to be prepared for, industry leaders said on Thursday. While AI will be a catalyst for India's economic growth, guardrails and governance will be key to adopt the technology safely and to build resilience amid possible disruption, they said. 'If we truly want to move towards Viksit Bharat in 2047, that will be rooted in technological empowerment, inclusive economic growth, and digital sovereignty , and AI truly can be an accelerator,' said Sandip Patel, MD, IBM India & South Asia. AI adoption in India is higher than in other countries, as per a global survey carried out by IBM, Patel said. However, this is more experimentation while adoption at scale still lags. Gaps in trust and confidence in the technology are a key reason for this, he said, adding that credible cases with the right ROI are also needed. IBM itself is adopting the technology, with 95% of its HR processes now being done using AI agents, said Patel. Alok B Lall, COO, Microsoft India & South Asia, said businesses should look at how to reshape their processes. Live Events 'As the world gets more agentic AI, we're hearing of terms like human-in-the-loop, human-on-the-loop and human-out-of-the-loop, as agents get to be more autonomous and they do most of the work by talking to other agents,' he said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories At the same time, enterprises need to empower their employees with AI, he added. 'It's not just about giving them a tool that helps them to use AI, it's fundamentally changing the way organisations are looking at talent – do you need somebody with 20 years of experience or you could get somebody with lesser experience with a powerful AI assistant?' AI is bringing a moment of irreversible acceleration where intelligence is not confined to machines but also gets embedded into life itself, said Debjani Ghosh, distinguished fellow, NITI Aayog and chief architect, NITI Frontier Tech Hub. 'India will have a very key role to play in shaping this future,' said Ghosh. 'Our tradition of human centric thinking, inclusivity, respect for collective good - this must become our competitive advantage in a world that needs to get anchored in trust for its survival.' There will be bad actors who master the technology much faster, however, and countries need to build resilience to recover quickly when things go wrong, she added. Shiv Siddhant Kaul, co-chair, CII National AI Forum & MD, NICCO Engineering Services, said that CII's AI taskforce has been focusing on outreach and workshops to familiarise businesses with AI, especially MSMEs which may not be engaging much with the technology. There is also a generation gap in awareness and use of AI, he said, with the 48–55 year age group lagging. 'For most companies, it's going to be existential because newer companies that are empowering younger people are going to figure out how to use AI, and our challenge will be making sure that the companies that are left behind don't leave a big-sized hole in our society in terms of employment,' Kaul said. Taranjeet Singh Bhamra, founder & CEO, AgNext Technologies, said that startups are embracing AI and tend to do this with precise use cases rather than broad experimentation given their relatively limited resources compared to large enterprises. When it comes to agriculture, AI can play a role in optimising inputs and measuring output quantity and quality, which would be needed to build algorithms that can help us increase food production, he said.
Yahoo
22-05-2025
- Business
- Yahoo
IBM powers technology upgrade for Sri Lanka's Pan Asia Bank
Pan Asia Banking Corporation of Sri Lanka has partnered with IBM to upgrade its digital infrastructure. This collaboration comes as banks in the region adapt to the demands of customers who seek customised experiences, transparency, and security in real-time. To facilitate continuous growth and round-the-clock banking services, Pan Asia Bank has implemented a modernised technology framework that includes advanced servers, AI-driven application monitoring, and scalable data storage solutions. These enhancements are designed to improve cloud readiness and offer real-time insights into application performance, thereby minimising downtime and enhancing customer satisfaction, stated the tech vendor. Pan Asia Bank chief information officer Kanchana Devasurendra said: 'With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. 'We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.' In conjunction with South Asian Technologies (SAT), IBM implemented a suite of AI and hybrid cloud solutions, which feature IBM Power10 servers, IBM FlashSystem storage, and IBM Instana for comprehensive application performance monitoring. According to IBM, the integration of these technologies has yielded improvements for the bank, including a 40% increase in application performance and a 50% reduction in the time required to launch new services. Additionally, the upgrades have resulted in enhanced uptime and decreased operational expenses, the tech provider added. IBM India & South Asia managing director Sandip Patel said: 'Sri Lanka presents tremendous opportunities for digital transformation, and we're proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud.' Last month, BNP Paribas extended its partnership with IBM Cloud for another ten years to enhance its cloud-native strategy and advance generative artificial intelligence (GenAI) capabilities. "IBM powers technology upgrade for Sri Lanka's Pan Asia Bank" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Otago Daily Times
19-05-2025
- Business
- Otago Daily Times
Lotto win during 70th birthday celebration
Photo: Lotto NZ A Lotto win provided an unexpected and "unbelievable" 70th birthday present for a Dunedin couple. The couple netted $500,000 on Saturday, from the Strike ticket they bought at Musselburgh Food Centre. The 'Must Be Won' draw was for $1.5 million, the prize being shared between three players — the other's being from Auckland and Upper Hutt. The winner, speaking anonymously, said the win was "unbelievable". They had checked the ticket late at night during his wife's 70th birthday celebrations, he said. A regular Lotto player, he said he always bought his tickets from Musselburgh Food Centre. He never missed the chance to play Strike, knowing getting two numbers could win a greater prize than a fourth division win. However, this time the four numbers — 15, 25, 22 and 6 — came out in the same order they appeared on the ticket. Musselburgh Food Centre owner Sandip Patel, who has recently taken ownership of the store, expressed his joy at the result. "I'm thrilled that we've sold a major prize within six months of taking over," Mr Patel said. "When the winner came to claim their prize, one of my staff, who had never seen a major win before, was overjoyed for the couple. It's moments like these that show how Lotto can truly change lives." The Powerball was not struck on Saturday night, where the prize will jackpot to $17 million. - APL
Otago Daily Times
19-05-2025
- Business
- Otago Daily Times
Dunedin couple's Lotto win marks 70th birthday
Photo: Lotto NZ A Lotto win provided an unexpected and "unbelievable" 70th birthday present for a Dunedin couple. The couple netted $500,000 on Saturday, from the Strike ticket they bought at Musselburgh Food Centre. The 'Must Be Won' draw was for $1.5 million, the prize being shared between three players — the other's being from Auckland and Upper Hutt. The winner, speaking anonymously, said the win was "unbelievable". They had checked the ticket late at night during his wife's 70th birthday celebrations, he said. A regular Lotto player, he said he always bought his tickets from Musselburgh Food Centre. He never missed the chance to play Strike, knowing getting two numbers could win a greater prize than a fourth division win. However, this time the four numbers — 15, 25, 22 and 6 — came out in the same order they appeared on the ticket. Musselburgh Food Centre owner Sandip Patel, who has recently taken ownership of the store, expressed his joy at the result. "I'm thrilled that we've sold a major prize within six months of taking over," Mr Patel said. "When the winner came to claim their prize, one of my staff, who had never seen a major win before, was overjoyed for the couple. It's moments like these that show how Lotto can truly change lives." The Powerball was not struck on Saturday night, where the prize will jackpot to $17 million. - APL
