Technology capable of decision making is a cause for concern too; Hitesh Oberoi
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"Artificial Intelligence (AI) requires human oversight for accurate utilisation," said Hitesh Oberoi, CEO of Info Edge, during his keynote address at the Manorama Online Techspectations Digital Summit.
Expressing concerns over AI’s growing influence, he noted that, for the first time in history, a technology capable of making decisions on its own is taking shape in the world.
This should also be a matter of concern. AI has already brought revolutionary changes to daily life, and this transformation is happening at an astonishing pace. "The day is not far when those who do not adopt AI will be left behind," he warned.
Oberoi highlighted that every technological breakthrough brings new opportunities. "We saw this with the advent of computers, followed by the internet and Google. The rise of search engines sparked widespread discussions, and a technological ecosystem developed around Google. With the arrival of 5G, India saw further advancements. Now, AI has entered the scene, and companies are in a race to harness its potential effectively."
In the coming years, those proficient in AI will surge ahead, while those who ignore it risk being left behind. AI’s influence will extend across all industries, compelling workers in every sector to integrate it into their workflows. "Whether you realise it or not, AI has already begun to intervene in your daily life," he pointed out.
Oberoi emphasised that, post-pandemic, all companies have effectively become digital entities. Every digital company is now evolving into a data-driven organisation, regardless of the sector. He noted that the key difference between startups and major corporations lies in data access. "Established companies possess vast amounts of data, while startups lack this advantage. The challenge for large corporations is how to leverage AI to make the most of their data."
Acknowledging concerns about AI’s impact on jobs, Oberoi stated that while some roles will be displaced, new opportunities will emerge. "Coding will become easier, reducing costs. As costs decrease, demand will rise. AI will positively impact various industries in this way."
Customer service roles, at the same time, may soon be taken over by AI-driven chatbots. "Jobs in customer support are likely to be automated in the near future," he predicted. However, AI adoption is not new at Info Edge. The company has been using AI for the past 10 to 14 years, Oberoi revealed.
Each of the panel discussions and lead talks in the digital summit explored AI’s potential across industries such as media, banking, e-commerce, cinema, entrepreneurship, education, and healthcare. These conversations indeed reinforced the event’s theme, "Transforming the Future: AI for Everyday Life."
The event opened with a welcome address by Mariyam Mammen Mathew, CEO of Manorama Online, who noted that whether one fears or embraces AI, one thing is certain: it is set to transform every aspect of our lives.
This year’s edition of the Manorama Online Techspectations Summit was held at Le Méridien, Kochi. Jain University and Google India were the event’s sponsors, with Experian Technologies serving as the session partner and Popular Hyundai as the travel partner. Launched in 2016, this was the sixth edition of the summit, which continues to explore groundbreaking developments and new concepts in technology.