NASSCOM & FISME Kickstart Campaign For AI Awareness Among MSMEs

ENA MSME 2024-08-28 18:47:39 New Delhi, Aug 28 (KNN) In a landmark event, National Seminar on Artificial Intelligence (AI) for Micro, Small, and Medium Enterprises (MSMEs) was held on Tuesday in New Delhi. This seminar, jointly organised by the Federation of Indian Micro and Small & Medium Enterprises (FISME) and the National Association of Software and Service Companies (NASSCOM), marked a significant step towards empowering MSMEs with AI technologies. As AI technologies continue to transform every aspect of human life and business, MSMEs have largely remained on the sidelines, often uninformed about the challenges and opportunities that AI presents. In the welcoming address, President FISME and IITK alumnus Sandeep Jain said, We believe that by equipping SMEs with the right knowledge and tools, we can collectively navigate the evolving landscape of technology and create impactful solutions tailored to our needs. This seminar aimed to bridge that gap, highlighting how MSMEs can leverage AI to boost performance and innovation across various areas of their businesses—from financial management to sales, marketing, human capital management, and product development. Madhav Bissa, Program Director of Artificial Intelligence at NASSCOM, provided a comprehensive overview of the global and Indian AI landscape, including the challenges and potential opportunities for MSMEs. AI is all about dataset and mindset, Bissa remarked, stressing the need for MSMEs to not only acquire the right data but also to cultivate an AI-ready mindset to fully harness the benefits of this technology. Following this, Nikhil Koolwal from IBM delivered an insightful session on leveraging AI in manufacturing, complete with case studies illustrating practical applications of AI in the sector. He highlighted how AI can drive efficiency, reduce costs, and improve product quality, presenting a compelling case for its adoption among MSMEs. The seminar also featured a thought-provoking session led by Nikunj Dang, founder & CEO of Yagnum, who projected a future where AI-powered factory supervisors could become a common feature in small and medium-sized enterprises. In the next five years, it is conceivable that AI-powered factory supervisors will become a common feature in SMEs, Dang stated, painting a vivid picture of the transformative potential of AI in operational management. Mayank Maggon, CEO of Techchef Digital, explored the broader applications of AI in business operations. Introducing AI into partnerships, marketing, and business operations can significantly enhance both customer and employee experience, driving greater overall satisfaction and efficiency, Maggon noted, pointing to the multifaceted benefits of AI integration beyond just operational efficiencies. While the discussions highlighted the immense potential of AI, the seminar also underscored the irreplaceable value of human intelligence. AI can enhance and augment human capabilities, but it cannot replicate the depth of creativity, intuition, and ethical judgment that characterizes human thought. As such, while AI presents powerful tools for growth and efficiency, the human touch remains crucial in driving innovation and maintaining the ethical balance in technology. This event marks a crucial step in preparing India's MSME sector for the AI revolution, potentially unlocking new avenues for growth and competitiveness in the global market. (KNN Bureau) 39087 https://knnindia.co.in/news/newsdetails/msme/nasscom-fisme-kickstart-campaign-for-ai-awareness-among-msmes 2024-08-28 18:47:39 knnindia.co.in NASSCOM & FISME Kickstart Campaign For AI Awareness Among MSMEs