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92 Percent Business Leaders in India believe every organisation needs Digital Transformation to grow their Business: Study

Microsoft Asia Digital Transformation Study 2016 has revealed that artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important to digital transformation strategies

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artificial intelligence, (representartional Image), wikimedia

New Delhi, March 28, 2017: A whopping 92 percent of business leaders in India believe that every organisation needs a digital transformation to grow their business, a study has revealed.

The Microsoft Asia Digital Transformation Study 2016 has revealed that emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important and relevant to digital transformation strategies.

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“Today, cloud-powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play. This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” Microsoft India President Anant Maheshwari said in a statement on Tuesday.

Further, 88 per cent Indians believe that cloud computing and decreasing cost of devices make it more affordable for companies of all sizes to access modern technology and help them gain a competitive advantage.

Indians also saw virtual reality (VR) and augmented reality as technology relevant to digital transformation among organisations than the rest of Asia.

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Fifty-three per cent Indians indicated that their organisation had specific digital transformation strategies in place and were progressing in their journey to add digital elements, as against 49 percent Asians.

However, security, lack of digitally skilled workforce, lack of supportive government policies and IT infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India.

The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries. (IANS)

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Microsoft, ISB to Empower Indian Business Leaders in AI

The three-day non-technical programme is done under the purview of Microsoft's online AI Business School

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FILE - Microsoft Corp. signage is seen outside the Microsoft Visitor Center in Redmond, Washington, July 3, 2014. VOA

The Indian School of Business (ISB) and Microsoft India on Friday joined hands to equip Indian business leaders with tools and strategies to make their organizations Artificial Intelligence (AI)-driven.Through the creation of the AI Digital Lab, the two organizations will collaborate in research which will use AI and Machine Learning (ML) to study issues that are relevant for business and public policy. In addition, they will also jointly introduce a new executive programme, to begin in October which aims to train 1,000 executives in AI and its role to improve business decisions over a period of two years.

“With this coming together of ISB and Microsoft, it is a unique opportunity to increase the innovation with AI in business. Our new partnership with ISB will empower business leaders to increase their tech intensity and do more with AI,” said Anant Maheshwari, President, Microsoft India.
According to a recent Microsoft and IDC Asia/Pacific study, lack of a coherent AI-strategy is among the top three challenges that Indian business leaders face while trying to accelerate the growth of their respective businesses.
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“Artificial intelligence is now one of the fastest-growing areas in all of science and one of the most talked-about topics in society.” VOA
“Transforming organizations guided by AI and augmented by frameworks integrating analytics with human behaviour and management issues will be an important imperative for business leaders,” said Professor Rajendra Srivastava, Dean, Indian School of Business.
“Our collaboration with Microsoft India will enable us to use AI to understand new phenomena that are relevant for business as well as policy and subsequently disseminate the knowledge to business leaders who will need to transform their businesses through artificial intelligence to compete effectively,” he added.ISB’s executive programme, titled “Leading Business Transformation in the Age of AI” will enable C-suite executives to come up with a coherent strategy to transform their respective organizations into AI-driven organizations.
The three-day non-technical programme is done under the purview of Microsoft’s online AI Business School.”It will also enable social science researchers to derive new insights from data and explore phenomena that were, hitherto, unexplored,” said Professor Anand Nandkumar, Associate Dean, Indian School of Business (ISB).  (IANS)