Digital Bharat Economy Conclave HIGHLIGHTS: How can a market model benefit investors

“There are digital product builders who overestimate their power. Before digital transformation, we need mind transformation. Every MSME has digitally transformed by one step. So, we need to understand the frame work for MSMEs only then we can go for digital transformation,” Kumar said

The final panel discussion before lunch is on the topic “From small to medium: The need for digital transformation.” The session will comprise of Anuj Batra, Co-Founder, Andromeida, Vedant Kanoi, Co-Founder and CEO, Foodcloud, Siddharth Manvati, Co-Founder and CEO, Clear Meat, Ramesh Bisht, Co-Founder and CEO, Ramsun Network, Amit Kumar, Founder and CEO, MSMEx, and Akshay Hegde, Co-Founder, ShakeDeal. The panel will be hosted by Amar Shankar, Partner, EY

“I think getting access to healthcare information is needed. The data security is prime and can go at an extreme level,” Maheshwari emphasised on what technology's impact on healthcare can bring.

“The question is how technological innovation can help humans increase their efficiency”

“There's a need for predictive analytics. Implementing technology is one part and the process is another. Either one can build the skill set in-house or get it from third parties”

“So, now we are finding a challenge in monitoring operations which can happen through digital transformation. The push is coming from the new-age entrants for digital needs. We are setting up a control tower, which is needed to manage misinformation especially with AI”

“I think data is impacting lives, and we have seen it in real-time. Putting analytics into machine learning can help study patients' data and detect health patterns. Technology has impacted especially after COVID,” Maheshwari said

“The way we are engaging with consumers is changing, on account of Generative AI backing the transformation,” Dabral highlighted

“We have more than 200 census. Ultimately, we aim to maximise production and reduce costs. We might use advanced process controller,” Gupta said on production and related costs

“The consumer business has changes and evolved. So, what we have started looking at IoT, analytics, automation through robotic processes, and cloud leveraging. Cloud provides us with convenience during application usage”

After the standalone, there'll be a panel discussion called “The impact of technology on lives.” The panel will have Ankit Maheshwari, CTO and Founding Team Member, Innovaccer, Sandeep Gupta, CDIO, Cairn Oil and Gas, Atul Govil, Chief Transformation Officer and Head (SAP and IT) – Corporate, India Glycols, Kaustubh Dabral, Global CIO, Dabur India, and will be hosted by Roshun Povaiah, Editor, FE Digital

Gupta speaks on SUSE's Automated Behavioral-Based Zero-Trust mechanism

“Vulnerable industries include public sector, healthcare, finance, utilities, telcos, and social media,” Gupta mentioned

“Data breach average cost increased by 2.6%, from $4.24 million (2021) to $4.35 million (2022), which marks a 13% increase since 2020”

Thus, concludes the first panel discussion of the day. Next up, it'll be a standalone session called “Secure your digital infrastructure with zero effort and zero trust,” by RahulKrishna Gupta, Pre-Sales Architect, Rancher CoE, SUSE

“If there are harsh sectoral regulations, I will have to maybe start with digital health space. So, the shapeshifting that founders require to find out what their business should be is going to be hampered by harsh sectoral rules. Therefore, companies will have to comply with everything that government implements. We need guardrails on AI to ensure their proper implementation, Above all, we need more support for Indian languages”

“Transparency should lead to accountability,” Gupta mentioned

“I understand the concerns. We need to go back to the constitution, which is the foundation for regulations. I think India needs to come up with its unique response system. One single act cannot make the change but should be the basis for many other acts. So, my sense is that India is a dynamic country. I think we'll learn from this evolution but we need to come up with our own model,” Doval highlighted

“We should have regulations that fit us in India. We are trying to address the inadequacy of state policing. The fact is that there's a lack of transparency and accountability from the government and platforms. The other things are about the IT rules and Digital India Act. When you look at regulations, they are not protecting fundamental rights”

“What is important for us to understand is that Digital India Act isn't a legislature. The bill is important for all the tech firms. A whole range of laws have been created for environmental impacts, and there can be a need for multiple laws. At present, this is being proceeded in an ad-hoc manner. Multiple ministries of government should collaborate on this for matching the scale of Indian digital transformation,” Gupta stated

“It's clear we need a completely different framework. The policy framework should evolve with changing times, which should concern itself with protection of citizens, liberties, and fundamental issues”

Now, it's time for the first panel session of the day titled “Creating the right policy framework.” The panel will include Shaurya Doval of India Foundation, Nikhil Pahwa of MediaNama, Apar Gupta of Internet Freedom Foundation, along with Kazim Rizvi of The Dialogue as the moderator

“AI is helping panelists deal with large amounts of data. Content generation is a huge topic. One big model isn't the answer to AI developments but different models are to be developed”

“AI helps with visualisation in the personal domain. The first parameter around data is accuracy, and it's also important to have control over data”

“Cloud started about 10 years ago. After moving to the infrastructure era, AI made a foundation of transforming our lives. Google is not new to AI. Google's philosophy on AI is dependent on responsibility, based on privacy,” Kumar said

“AI is indeed changing the game of innovation. There are many parts of AI innovation, which include chatbots, content and business use cases”

That concludes our first session. Next up, there's a panel called “A new era of cloud transformation: What's now and next,” by Amit Kumar, Director, Google Cloud India

“I think India, Australia, among others, are leading the way to regulate tech in comparison to Americans”

“There is a degree of speculation around Jack Dorsey and Twitter. What he said isn't for me to conclude”

“The government is not in the business of creating ChatGPT. It'll explore the prospect of AI in agriculture,” Chandrasekhar said