Artificial Intelligence (AI) is a significant part of Industry 4.0: Global Business Leaders

New Delhi: Mr CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra today said that artificial intelligence will be the driving force for Industry 4.0.

Speaking at the Session on Reimagining Technology and Digitisation at the ASEAN session of LEADS 2020 organized by FICCI, Mr Gurnani spoke about the aspects of artificial intelligence within the Industry 4.0 paradigm, and how this powerful technology is already being used by organizations to drive efficiency, improve quality and better manage supply chains. He also appreciated the role of governments across the world towards its inefficiencies and paving the way for future digital innovation.

Mr Rajesh Mehta, Managing Director and Head of Trade & Treasury Solutions- Asia Pacific, Citibank- Hong Kong said that the importance of resilience, agility and redesigning of business models are crucial for last-mile connectivity in financial services. He emphasized on the demographics and scaling up technologies, which will result in one trillion digital payments by 2025 in ASEAN. Mr Mehta further added that banks are strategically aligning with start-ups for improving services and increasingly becoming participative in Hackathons in Fintech.

Mr Partha De Sarkar, Wholetime Executive Director and Global CEO, Hinduja Global Solutions India, emphasized on the importance of digital infrastructure for tier 2 and tier 3 cities as a large part of the workforce has moved back to these cities. He stated that there is a need for improved digital infrastructure to drive major business from Tier 2 and Tier 3 cities.

Mr Rohit Sipahimalani, Chief Investment Strategist and Head – South East Asia, Temasek -Singapore said that non-traditional sectors were not embracing technologies earlier, however, the pandemic has given them the confidence to shift towards digitalization. Speaking on the development of health technologies, Mr Sipahimalani also pointed out that the pandemic has enabled hospitals to develop their telemedicine consultation model with virtual consultations, digital medical records and active monitoring of patients.

Mr Shailesh Rao, Advisor and Mentor; Board Director, Eros STX- Singapore said, “Digital will become a central component of life for everyone far faster than we ever expected.” He also mentioned that there is a need for mechanism and tools for organizations in India and ASEAN to reskill the people for a new world.

Mr Aswin Utomo, Vice President, Engineering and Chief of Staff Technology, Tokopedia, spoke about the increasing trend of e-Commerce and the role played by Tokopedia to empower the islands of Indonesia to be digitally empowered.

Dr Lim Jui, CEO, SGInnovate- Singapore emphasized on the importance of deep science and deep technology to solve the global challenges and pandemic and the need to further investment in cutting edge technologies especially AI, quantum tech and space technology.