Last year witnessed a series of innovations and achievements in diverse sectors that will only see better outcomes and will hold productive implications in the coming years. 2023 was a landmark year for multiple reasons – the semiconductor industry in India attracted fresh budget allocation, further cementing expansion of electronics manufacturing ecosystem in the country. Building on the commitment to reduce India’s carbon footprint by 30-35% by 2030, the focus on producing green energy mediums has increased. New strides towards establishing better EV manufacturing infrastructure in the country is a work in progress. India hit a milestone with the launch of Chandrayaan 3 and Gaganyaan TV-D1 test flights, estimation states Indian space economy to reach $40 billion by 2040.
This year, technologies like AI, machine learning, Robotics, and Automation will take centre stage in bringing innovations to life, and with the active roll-out of 5G services and the upcoming 6G technology in the wireless segment, advancements in IoT (Internet of Things), augmented reality and other connected technologies are also expected. In this context, India is pacing towards becoming a leading digital economy in the world.
Some eminent leaders from the world of technology share their perspectives with ELE Times on how far we have come and the road ahead in terms of technology and its implementation in various sectors.
Balaji Baktha, Founder and CEO, at Ventana Microsystems, sheds light on the remarkable strides made in India’s semiconductor industry, driven by advancements in RISC-V and chiplet technologies.
“As we approach 2024, the landscape of India’s semiconductor industry is on the brink of a transformative era, thanks largely to advancements in RISC-V and chiplet technologies. At Ventana Microsystems, we’re not just observing this change – we’re at the forefront, driving it. Our innovative solutions are tailored to meet the unique needs of the Indian market, ensuring that our technology not only aligns with but actively supports the government’s vision for a self-reliant digital India. We’re excited to play a pivotal role in this journey, bringing cutting-edge, high-performance RISC-V CPUs to the heart of India’s tech growth. Stay tuned for a year of remarkable progress and partnership as we work together to redefine the boundaries of India’s semiconductor capabilities. Ventana Microsystems is poised to be a key player in the Indian semiconductor revolution. As RISC-V and chiplet technologies take center stage in 2024, we are actively committed to contributing to the substantial and positive impact they will have on the industry. Our dedication to innovation aligns perfectly with the government’s vision for a thriving semiconductor sector in India.”
Devendra Kumar Sharma, President and COO, at Kore.ai, speaks about Generative AI and how its rapid advancement will influence industrial roles in many sectors.
“The year showed the potential of transformative impact of advanced AI, particularly through LLM-based applications like ChatGPT. Generative AI has set off an explosive phase of growth, with the introduction of transformer models such as GPT-3.5, GPT-4, and Google’s Bard. One of the most significant potentials of generative AI lies in its ability to redefine the customer and employee experience across various touch points, including call centres and digital channels.
“As we see it, 2024 will be a year that will unleash unprecedented innovation, especially with the strategic pairing of conversational AI and generative AI. We believe the combination of conversational AI and generative AI will influence customer experience, employee engagement, search experience and the role of automation in enterprises. It will play a pivotal role in helping banks, financial services firms, insurance companies and e-commerce platforms meet diverse demands and achieve hyper-personalization at scale. New use cases will emerge around tasks like conversation classification, text summarization, sentiment analysis, answering questions and executing complex tasks with immersive experiences that involve multimodal AI. To realize this immense potential, businesses need to make themselves ‘AI-ready’ and draw out strategies on how to deliver value through industry-specific implementations while ensuring responsible use of AI technologies for enforcing data privacy and compliance.”
Neil Thacker CISO EMEA at Netskope, speaks about AI regulations facing scrutiny
“Proposed AI regulations will come under scrutiny in 2024. We are already seeing countries and entire regions proposing new AI regulations to counter and attempt to control new services, but will we see draft regulations proposed and updated that can support innovation alongside ethics and privacy? All eyes are on the U.S, Europe, and China but could other countries steal a march by delaying their own regulations to enter the AI arms race?”.
Sathesh Murthy, Managing Director and Engineering Head at RingCentral talks about leveraging AI for better customer experience and reshaping the future of business communication.
“In today’s dynamic business landscape, the imperative for AI to revolutionize customer experience is undeniable. AI serves as a formidable asset, enabling agents to save time through automated call summaries and refining coaching strategies based on data insights. Sentiment analysis, deciphering customer behavior patterns, empowers agents to navigate complex scenarios and preempt potential fraud. However, it’s crucial to acknowledge that contemporary AI, while sophisticated, hasn’t reached the realm of autonomous intelligence; it remains a powerful tool rooted in machine learning and natural language processing.
For us at RingCentral, the intentional deployment of AI is paramount. The tool’s current value lies in its adeptness at categorizing and routing customer interactions, automating responses to FAQs, and expediting ticket resolutions. Looking forward, as AI becomes deeply ingrained in daily operations, its evolution promises more precision and context-aware systems, enhancing the efficiency of business communications. In the era of hybrid work, as digital transformation accelerates, RingCentral emphasizes the importance of securing interactions through a unified UcaaS and CcaaS platform, recognizing the pivotal role of AI in shaping a seamless and secure future for communication and collaboration.”
Looking at the research being done in electric powertrain and communication technologies and the development of connected infrastructure in the e-Mobility space, Atul Gupta, Co-founder and Director of e-Sprinto shares insights on the EV landscape and talks about their innovative product line in the segment.
“At e-Sprinto, 2023 stands as a transformative chapter, highlighting our unwavering commitment to reshaping the landscape of Indian e-mobility. Supported by our dedicated team, we not only navigated challenges but soared to unprecedented heights. The launch of our high-speed scooter, Amery, alongside the Roamy and Rapo low-speed scooters, exemplifies our dedication to diversifying our product lineup, catering to the dynamic market needs. The first quarter particularly witnessed an astounding 50% overall growth, marking a resounding success for e-Sprinto. Our expansion included the opening of 10 showrooms in Assam and Gujarat and a remarkable achievement of unveiling 26 dealership showrooms in a single day. Strategic collaborations with AutoEVmart and multiple finance companies underscore our commitment to bolstering sales, and distribution and ensuring easy customer access to funding for our E2Ws. Going forward, we remain focused on continuous improvement, addressing challenges, and ensuring a brighter and more sustainable future for electric two-wheelers in India.”
Gursharan Singh Bhatia, Country Head – Global Sales, ESBU, at Littelfuse, highlights the key development areas they will focus on, moving forward.
“In pursuit of our mission to empower a sustainable, connected, and safer world, Littelfuse India has undergone a journey marked by the successful acquisition of C&K Switches. This strategic move has expanded our portfolio beyond circuit protection, power semiconductors, and sensors, now encompassing a diverse array of switches and connectors, thereby redefining our role in the industry.
Guided by a corporate culture anchored in values of respect, customer focus, agility, and collaboration, we embark on the next five years with a commitment to innovation and excellence.
In anticipation of 2024, our focus aligns with India’s key economic drivers—Electric Vehicles (EV), Battery Management Systems (BMS), and Renewable Energy. Empowering smart buildings, our solutions encompass circuit protection, power semiconductors, and sensing products, elevating safety, reliability, and efficiency. In the realm of consumer electronics, our impact is foundational, providing essential components for circuit protection, power management, sensing, and connectivity. Our solutions enhance device safety and functionality, cementing a fundamental role in the evolving landscape.
Recent accolades, including the prestigious Best Circuit Protection Solutions Award at Electronica India 2023, underscore our dedication to industry leadership and product excellence. These recognitions not only celebrate our products but also honour the collective efforts of our exceptional team, whose commitment drives our success.
As we anticipate the exciting prospects on the horizon, we express our gratitude for the unwavering support from our stakeholders. Together, let us chart a course toward a future characterized by innovation, sustainability, and collaborative success.”
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