| | DECEMBER 20209AI IN SUPPLY CHAIN MANAGEMENT IS ENABLING IMPROVED SUPPLY CHAIN AUTOMATION THROUGH THE USE OF VIRTUAL ASSISTANTS USED BOTH INTERNALLY AND EXTERNALLY AS WELL AS BETWEEN SUPPLY CHAIN MEMBERSeducation system will completely transpire stronger with more power to students to learn from anywhere anytime and any subject.Farmers Partner during Crisis & OtherwiseFrom soil health to even managing livestock, farmers are looking at leveraging technologies like AI to the fullest to enhance their agriculture production. According to a report, the global AI in agriculture market is expected to register a whopping growth of 24.8 percent CAGR between 2020 and 2030, taking the market worth to $8,379.5 million in 2030 from just $852.2 million in 2019.No wonder, there will be an increasing implementation of AI in agriculture as the world will have more people to feed and less space to cultivate food. On the other hand, the changing behavior of climate will also push farmers to adapt AI in ensuring safe cultivation and harvesting. Companies are already developing autonomous robots to handle essential agriculture tasks that surpass what humans can do. On the other hand, farmers are leveraging crop & soil monitoring technology to monitor crop & soil health. Companies are using computer vision and deep-learning algorithms to process the data captured by drones or software based technology to provide precious information to farmers. To monitor weather changes, experts use machine learning models to track and predict any change.Supply Chain ­ The Limbo that Needs FixingAccording to a report, the global AI in supply chain management market will reach $1.3 billion by 2024. The report said that in addition to fully automated decision making, AI systems are also leveraging various forms of cognitive computing to optimize the combined efforts of artificial and human intelligence. It further added that AI in supply chain management is enabling improved supply chain automation through the use of virtual assistants used both internally and externally as well as between supply chain members. But then the latest annual MHI Industry report that surveyed around 1,001 supply chain professionals in various industries mentions that only 12 percent of the surveyed professionals feel that their organizations currently use AI in their operations while 60 percent expect to do so within the next five years. The survey also found that only 28 percent of the respondents use predictive analytics.But a country that waste 40 percent of its crop worth $14 billion each year due to poor cold chain logistics & disorganized logistics and whose 15 percent of population lives in hunger can not incorporate AI in its supply chain? While India is one of the largest food producing countries it also tops the list of countries where a larger population sleeps hungry. Hence it becomes more important for India to integrate AI in supply chain. The benefits are limitless. Through self-learning and NLP, AI capabilities can help automate various supply chain processes such as demand forecasting, production planning or predictive maintenance, reported Gartner. Its report also explained that AI supports the shift to broader supply chain automation that many organizations are seeking.India's Growing Love for AISo when the possibilities are endless, what is India doing to adapt it benefit to the fullest? Realizing AI's potential to transform economies and the need to strategize its approach, Finance Minister mandated NITI Aayog to establish the National Program on AI. This program would be catalyzed by the establishment of the National Centre on AI as a hub along with six centres of excellence while a nationalAI portal will also be developed.According to an Accenture report, AI has the potential to add $957 billion to India's economy in 2035. The country already has over 200 AI startups who are engaged in innovating and creating AI-based solutions for various industries. As per NITI Aayog, it will focus on five sectors that will benefit the most from AI in solving societal needs. They are healthcare, agriculture, education, smart cities & infrastructure, and smart mobility & transportation. This could surely boost the sectors I spoke about earlier and help India become a smarter, stronger and healthier nation.What do you think!
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