NASSCOM ILF 2016:Artificial Intelligence: will it destroy or re-imagine the service industry?
Artificial Intelligence: will it destroy or re-imagine the service industry?
Chairperson: Rohit Kapoor, Vice Chairman & CEO, EXL
Published on: Mar 3, 2016
Transcripts - NASSCOM ILF 2016:Artificial Intelligence: will it destroy or re-imagine the service industry?
Artificial Intelligence: Reimagining
the Service IndustryROHIT KAPOOR
VICE-CHAIRMAN and CEO
The question for us today
Artificial Intelligence: will it destroy or
re-imagine the service industry?
Why is it different this time?
The 4th Industrial Revolution!!
• Velocity of change
– If Moore’s law continues to develop at the same speed as the last 30 years then CPUs will have
the same processing power as the human brain by 2025
• Breadth and depth of technology driven change – Cognition & Network
• Productivity benefit not resulting in net new creation of jobs nor GDP
What kind of impact will AI have?
Jobs, Nature of relationships, Margins, Growth rates
• First AI machine on a corporate board of directors*
• 30% of corporate audits being performed by AI machines
• Robotic pharmacists
Oxford – Up to 47% of US jobs in 2010 will be eliminated in 10-20 years;
number is higher in emerging economies
Mckinsey – Artificial intelligence is likely to have trillions of dollars of economic
impact through 2025
* Source – ‘The Fourth Industrial Revolution’
by Klaus Schwab
Broad aspects of AI and machine learning
• Cognition – ability to not just give the best answer but think of the question itself
• Self learning – robots designing robots
• Speed and cost – fraction of what it takes today by humans
Can we lose control??
Summarizing the implications
• Be aware of comprehensiveness and speed of change
• Augment and Compliment instead of Substitution
• Up-skill and specialize the work-force
• Service new industries, new businesses and new products
• Multi-stakeholder cooperation – Ensure that the 4th industrial revolution
is empowering and human centered