AUGUST 20189spread applicability of these technol-ogies that has spurred investments in the machine learning and AI as an investment into the future.Rise of Machine Learning and AINiti Aayog's recent paper on Na-tional Strategy for Artificial Intelli-gence has addressed the national strategy on artificial intelligence and other emerging technologies in India. It has identified priority areas and from a perspective of economic impact, it has the potential to drive growth through enabling: intelli-gent automation i.e. ability to auto-mate complex physical world tasks that require adaptability and agility across industries, labour and capital augmentation: enabling humans to focus on parts of their role that add the most value, complementing hu-man capabilities and improving cap-ital efficiency, and innovation diffu-sion i.e. propelling innovations as it diffuses through the economy. The application of AI has the potential to add value to a wide range of sectors such as healthcare, retails, smart mobility, manufacturing, education, smart cities and skill development. With their capability to process large amounts of data in an intelligent and efficient manner, solutions based on machine learning and AI present the perfect mechanism to minimise hu-man intervention, errors and redun-dancies. With their large capability to pro-cess amounts of data in an intelligent and efficient manner, solutions based on machine learning and AI present the perfect mechanism to minimise human intervention, errors and re-dundancies. It presents sound rea-soning behind companies increas-ing their intervention in creating an Application Programming Interfac-es or API economy. These economy births and nurtures solutions that entrench in machine learning and AI to maximize efficiencies. While major providers like Google, Amazon and Apple have increased their ef-forts in creating unique solutions in the space, several start-ups like Liv.ai and Inclovin India have also now joined the movement to create their own APIs that help address profit-ability, coherence in functions, and costs. These solutions are now set to witness exponential growth in a digitalizing country where business-es are vying to personalize customer experience and boost their standing in a competitive market.Creating a Digitally `Intelligent' IndiaBoosting investments in these emerging technologies will not only help new businesses to flourish in the country but will also pave the way to establish the digital prowess of the Indian economy, backed by the power that AI provides. It becomes all-the-more crucial as they offer new skills for the Indian workforce to gain their expertise in, especially ones that cater to global demands scalability, simplifying businesses and enhancing customer experience, while ushering an unrefuted digital future.The need of the hour is for the industry to join hands in boosting these investments to strengthen the capabilities of the startups here. It will allow them means to scale-up their operations and innovate towards better solutions that ulti-mately, derive value for Indian busi-nesses and the economy. It is imper-ative that investors acknowledge and act upon nurturing these emerging technologies in the country if we are see the dawn of the day when India is considered a digitally `intelligent' powerhouse.As a tech focused fund based in India, we are keen on partnering with and investing in technology companies that are creating ma-chine learning solutions that address a large market as well as companies with access to large data sets that are using machine learning to create value for their customers. It is imperative that investors acknowledge and act upon nurturing these emerging technologies in the country if we are see the dawn of the day when India is considered a digitally `intelligent' powerhouseGaurav Sachdeva
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