In view of the growing importance of digitalisation along with AI, a brain storming session was held on 8th April 2024
and chaired by Mr Sudarsan Swamy, President. Following is the gist of the same:
1) Dr Madhu initiated the discussion and observed that broadly there are two groups-those who develop AI and others
who deploy AI to further their business interests/efficiency.
2) Mr Murali pointed out that if one were to plan to use AI, then the first step would be to examine where we are with
respect to digitalization and whether sufficient data is available. The next would be to identify the problems being
faced. With the data and problems, one can interact/work with students to arrive at solutions.
It is also better to focus on some areas like pharma, shipping, sea food etc. which are of interest to VCCI and which
hold significance for Vizag. Once a solution is arrived at in collaboration with students, it is possible seek government
funding to scaleup.
3) Mr. Sridhar Panuganti observed that may be technology can be used to implement known solutions much faster than
the time taken with conventional implementation.
4) Mr. Venkat Yarabti shared his experience in how technology was used to determine the impact of seasonality on the
ability of MSMEs to pay their EMIs on time.
5) Mr. Raja Babu shared his own experience of drawing up contracts. Whereas earlier the process could take up to 3
weeks, use of technology helped in bringing it down to 2 days. Another area of study is to determine how different
colours of light will affect the growth of a plant in closed conditions and provide answers to questions like which colour
impacts shelf-life? Colour? Growth? and so on.
6) Mr. Gupteswar Rao mentioned that AI is unstoppable and that MIT is developing courses for kids in KG and above.
These can be accessed on the web. This learning is important as learning leads to innovation which in turn leads to
change and thereafter to success. They have exclusive programs for teachers and another for graduates or freshers
and one for everyone.
7) Mr. Santosh pointed out the challenges in use of AI which may impact data privacy and misuse. Earlier clinical trails
conducted by pharma companies used to take 10-15 years to develop a product and furthermore only 6-7% of the
products are successful. It is expected that AI will help in considerable reduction in time required to develop a product.
He also pointed that medical devices are very complex as several technologies may be used in production of the same.
8) Mr. Rajesh shared his own experience where in PBL had implemented ERP in 2010 and as such considerable data is
available on date. They have been able to effectively use this data with the appropriate technology to track vehicles
and also their maintenance. As such even if a person is on leave or leaves the organisation, considerable amount of
data and videos are available enabling the new incumbent to discharge his duties effectively. Another useful area is
to distinguish between customers who pay promptly and those who tend to delay payments. So also, it is now easier
to analyse and select those tenders in which PBL can participate with a better success rate.
9) Mr. Murali suggested that several members within a group/sector can come together and identify the common
problems being faced by the group. Thereafter they can tie up with a school to arrive at appropriate solutions and
then seek government funding to reduce the logistics cost which are currently around 14%.
10) Ms. Anila Narla pointed out that AI can be used to generate content on social media and to effectively replace a person
engaged in doing a repetitive task.
11) Mr. Diwakar mentioned that currently they have about 170 start-ups and 4 centres of excellence in different fields.
One Hackathon is being conducted every 2 months and they are always in need of judges, topics (problems) for
research and study and mentors as also investment.
12) Mr. Mallikarjuna Rao shared his own experience of achieving considerable reduction in the cost of writing content by
using Chat GPT. Technology has also helped them to monitor inventory levels where by necessary corrective action
can be initiated.
Summary: The president and Secretary will form a committee consisting of four or five members to develop a plan
of action, so as to take this forward for the benefit of the members of VCCI addressing specific sectors their
represent.