Here is the list of the top 5 Indian companies using AI to reimage their applications.
Artificial intelligence has important effects on business operations. With the evolution of technology, even small organizations with less money and professionals are embracing digitization to power their working systems. However, top companies don’t have to worry about those. They function on high revenues and have skilled people to achieve their digital goal. Top Indian companies are no different. Non-tech Indian companies are also running the race to streamline artificial intelligence, which could eventually accelerate their way of working. They are using technology to help make money and provide sophisticated customer responses. In some cases, using artificial intelligence leverages greater efficiency and versatility, making it a natural progression for processes companies may already have in place in their business. Indian companies are also adopting machine learning, big data, and especially, AI-powered chatbots to bring a tech-friendly environment. Analytics Insight has listed the top five Indian companies using artificial intelligence to reimage their functionalities.
Reliance Industries Limited is an Indian multinational company that is spread across many domains including energy, petrochemicals, textiles, natural resources, retails, and telecommunications. Throughout its expansion of product range, Reliance Industries has taken help from technology in some form or the other. In the past few years, the company has invested over US$2 billion in its four-pronged strategy to become a technology powerhouse. Reliance’s artificial intelligence strategy includes buying stakes in 24 tech firms across the US, UK, and India.
In 2019, the company initiated its first step towards streamlining artificial intelligence in its business by acquiring Haptik, a Mumbai-based conversational AI platform. A year later, Reliance took help from its new partner Facebook’s Whatsapp and launched an AI chatbot. Developed by Jio Haptik Technologies, the chatbots answer shareholders’ queries on the Rs.53,125 crore rights issue. In May 2017, Reliance revealed that the company is spearheading a 10-year investment project within India’s Maharashtra district. The initiative was particularly focused on Industry 4.0 technologies such as artificial intelligence, blockchain, IoT, augmented and virtual reality, and others.
Hindustan Unilever Limited, the subsidiary of Unilever is an Indian consumer goods company. Hindustan Unilever is implying artificial intelligence to strengthen its supply. Importantly, the company took technology into its hands early on to streamline its functionalities. In 2018, HUL used AI software Jarvis to predict grocery needs. With the help of the software, the company extracted details such as who visited the grocery store over the last three months, and what they are likely to buy the next time. The initiative reimaged the supply chain and corner shop strategy of HUL.
Besides, HUL has implemented an end-to-end digital transformation program that includes leveraging data and technology, as well as artificial intelligence, across the value chain. The company has also set up a digital council to lead its future tech initiatives. HUL is also contributing to social causes by introducing artificial intelligence. HUL and Google, in association with MyGov India, the Government of India’s citizen engagement program has announced a hackathon in April this year. It is an artificial intelligence hackathon initiated to address the issue of water scarcity in India.
Titan Company, one of India’s largest lifestyle providers is using artificial intelligence, augmented intelligence, and machine learning to leverage innovative designs and creativity in its products. Titan’s Chief Digital & Information Officer also pointed out once that technology is the magic tool behind the company’s 99% accurate sales forecasting. However, Titan is one of the early adopters of technology. In 2017, the company found an innovative way of using artificial intelligence-led design in its range of personal accessories like watches, jewelry, sunglasses, and eyewear. They use AI-powered Titan’s product range with massive tools to think of the most relevant designs.
Titan further accelerated its bet on artificial intelligence in 2019 by harnessing its power in creativity, design, omnichannel, and e-commerce. The company also took a disruptive step to explore Generative Adversarial Networks (GANs) to learn from images of its watch portfolio and create new watch forms.
SpiceJet, one of India’s low-cost airlines is adopting artificial intelligence to make its flight journey sophisticated and hindrance-free. Starting from booking tickets to answering customer queries, the aviation company is using technology, especially, artificial intelligence to streamline the process. In December 2020, SpiceJet became the first airline in India to provide an intelligent, bilingual conversational experience for callers. Pepper, the AI-powered virtual voice assistant enables faster and more effective customer service in Hindi and English.
Prior to this, the company has acquired-hired Travenues, a subsidiary of the price comparison and booking app Ixigo. The shift was aimed at bringing in the Travenues team to help the airlines improve its e-commerce platforms using advancements in mobile apps, UX, cross-selling, payments, personalization, and more.
Dr. Reddy’s Laboratories is an international pharmaceutical company that mainly operates in India, the USA, Russia, Europe, and other CIS countries. Even when technology was at the early stage of adoption in many industries, Dr. Reddy’s embraced digitization to streamline its drug production and supply. The pharmaceutical company is using electronic lab notebooks for Research & Development purposes. Therefore Dr. Reddy’s data is stored in an electronic data format, which makes it easy for the company to conduct analysis and leverage insights.
In the drug-making process, Dr. Reddy uses machine learning algorithms fed with the company’s data to improve agility and efficiency. It also uses technology to identify the basic material for drug making. Dr. Reddy adopts disruptive technology to fast-track manufacturing and balance quality assessment. To further leverage an end-to-end sophistication with technology, the pharmaceutical company is using data science to streamline sales and marketing drives. Besides, Dr. Reddy is also using cloud computing, artificial intelligence, NLP, RPA, chatbots, etc to power their drug-making process.
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