Tuesday, February 7, 2023

XLRI Jamshedpur CXO series: AI is helping people uplift their lives, says Fractal Co-founder Srikanth Velamakanni

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Jamshedpur: Continuing with its CXO series, XLRI PGDM (GM) hosted Srikanth Velamakanni, co-founder, Fractal. Velamakanni is the Co-Founder, Group Chief Executive and Executive Vice Chairman at Fractal. It was a technically packed and informative session for the budding business leaders of XLRI.

Velamakanni talked about how there are different myths revolving around AI, and not only did he break those myths but went on to emphasize how AI is actually helping people uplift their lives. He shared some interesting use cases for AI and how it augments businesses all around the world, be it healthcare, supply chain & logistics, telecommunications, oil and gas etc. Further discussion was on AI changing the work profiles across all industries, with quantum computing being the next big change. There was a comprehensive address on the overall market scenario of AI business, starting with the challenges in its building solutions to the adoption being matched with human expectations. To encapsulate, we have to automate the overall process from Data to decision, it is then we are talking about AI Transformation. On the question of whether AI or any emerging technology replacing human jobs, Velamakanni put forth the idea that “it is not humans vs. machines, it is humans with machines”.

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