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Sanket Dhurandhar heads AI/ML of the Indian leg of Amazon Internet Services. In LetsVenture’s Angel Investing Masterclass on May 18, Sanket shed light on some horizontals in AI that are leveraging AI to the fullest and in which he has seen a lot of interesting startups crop up. Apart from talking from an AI business perspective, Sanket shared use-cases and his personal take on why these horizontals are gaining traction.
Watch the full video:
AI domains to watch out for while angel investing
#1 | Media
From a business domain perspective, the first domain that I am going to talk about is media. I am seeing a lot of traction in media startups right now which is coupled with the fact that the content which is getting generated is very, very high. More so in the current situation but media is not specific just because of COVID, there has generally been a lot of traction around media. The kind of use-cases which I am seeing AI-driven startups run on media are:
- Getting the meta-data right. You have the media content available with you and typically there are tonnes of startups that are trying to identify images within that particular content, there are startups who are trying to do subtitling on top of the media so that you produce your content on particular geography and you convert it to another language and go ahead and start selling that particular content across multiple geographies.
- Deciding the commercial breaks. This is something new. Until now, there was some time dimension for commercial breaks, and then there was monetization on that time dimension. Instead of that, AI is now being leveraged to decide breaks depending on what point of the story the viewer is. AI-based intelligence is used to decide the most suitable time for the right commercial breaks.
#2 | Hyper-local
We all have lived through the journey of e-commerce where everything was available at the touch of a button on some kind of platform, be it web or be it in mobile devices. But, what we are seeing right now is that the trust is coming back to the local providers and that is where the combination of e-commerce along with local products is coming to picture.
Here the kind of use case that startups are trying to solve is how can e-commerce companies tie-up with the local providers and where AI typically comes into the picture is to understand which particular provider will drive maximum sales.
#3 | Edtech
Ed-tech, as a domain, has been buzzing for the last few years. We are seeing lots of ed-tech startups coming into existence, and I would say we are at an inflection point. The reason is – there is content that they already have plus there are different ways they have now realized that how they can make the entire supply chain of ed-tech a lot easier using AI.
The kind of use cases that we are seeing here
- How attentive are the students when content is being delivered or at what point of time are we seeing more interest from participants
- We see that AI is being leveraged to make the feedback mechanism more robust, using AI to start collecting feedback in real-time without asking customers, “What did you feel about the session?”
#4 | Fintech
This is an evergreen field and with AI things are becoming a lot more interesting. If you see what the Reserve Bank of India did a couple of months back is that it allowed video-based e-KYC. This has led a lot of startups to re-imagine the entire sales cycle while maintaining the sanctity of the overall transaction. If that has to happen, there has to be some layer of confidence built up at the customer layer where she feels, “Yes, if I transact through the e-channel, I am secure and whatever I am sharing from a financial perspective or a data perspective is remaining intact and running through a secured channel.”
So, we are seeing a lot of startups coming up with liveness-detection, coming up with video-based e-KYC, as well as reading your entire banking transaction history in an automated manner. And, then there are models that are built on top of this to analyze your CIBIL score.
#5 | Healthcare
In healthcare, there are a lot of scenarios which have been built right now which talk about how by just taking a picture you can evaluate if you have a particular ailment, you can self-analyze it using an AI model and then depending upon the insights that the model gives, the healthcare provider can suggest the path for recovery.
#6 | Agri-tech
There’s a renewed push around agriculture right now and the way GDP is going down, agriculture is the piece that is going to help us come back to where we were a few months back. There are a lot of startups who are actually predicting what kind of seeds you should be sowing in a particular location or what type of fertilizers you should be using – organic or inorganic.