Challenges and opportunities in Implementing Artificial Intelligence and Data Science Projects

By Prof Sanjiva Shankar Dubey

The Indian market is expected to grow at a 20.2% CAGR to reach US$ 7.8 billion by 2025. The global AI market is anticipated to grow at a 39.4% CAGR, reaching US$ 422.37 billion by 2028. The impact of AI on education is emphasized for India to meet its 2030 sustainable development targets. In 2021, the global AI market’s value was US$ 59.67 billion. Between 2000 and September 2022, the number of AI startups in India increased fourteenfold, showcasing the significant impact of AI on business operations and technological progress.

The euphoria around frontier technologies has been replaced by the recent rapid strides in Artificial Intelligence and Data Science. AI and DS have transcended the global economy, prompting institutes worldwide to provide and promote this new tech to younger minds.

Scope of AI and DS

AI and DS have streamlined processes, increased efficiency and stimulated innovation which has resulted in cost saving and competitive advantages for the businesses. Businesses can now forecast trends by utilizing AI, comprehend customers and customize services. Scope of AI in the country is not just limited to research but has branched out in education, healthcare, banking, agriculture, transport etc. According to the “Future of Job Report” 2023, of World Economic Forum, AI and Machine Learning specialists will be in the top list of fastest growing jobs.

Challenges and Opportunities

AI & DS has induced confidence and innovation but is looked upon with a certain degree of caution as well. AI has passed the stage of being a “shiny new object” and is now being scrutinized. The irony of AI is that its opportunities are its challenges as well.

• It is expected that 45% of the tasks performed by humans currently and 40% of developers code (with 8.6% less error) will be automated using AI. This will increase the overall efficiency of the business but will also induce fear of job security in the professionals.

• AI will automate the smallest to biggest tasks of the business such as improving customer satisfaction, predicting future demand, formulating strategies etc. Automation of day-to-day business tasks would increase the efficiency, output and profitability of the business but would require huge amount of computing power and capital which is an unimaginable infra development for the small companies.

• AI is a double-edged sword; experts are keeping their hopes on AI to promote environmental sustainability. AI can help create future climate scenarios, climate models, climate policies to facilitate better decision making at the corporate and governmental level, however, the development and use of a single AI model can have a carbon foot print of 284 metrics tons of CO2e.

• Also, the data used to train AI is not exactly neutral resulting in biases present in the data which can lead to skewed outcomes. The complexity of AI makes it difficult to identify such biases, making the data shown by AI unreliable.

• Another nightmare associated with AI is data security and ethical conduct. AI can aid in fraud detection, data encryption, data theft etc. but AI itself can be manipulated into committing these crimes. This AI-Jurassic Park needs to be fenced by laws with attention to confidentiality and privacy of its users.

Beginning with the 2020–21 academic year, the CBSE, in accordance with the National Education Policy (NEP), offered artificial intelligence as a subject in classes IX and XI at affiliated schools. Using AI techniques, this portal offers open-source software for self-paced learning for school education across states and UTs. It also features QR-coded texts that are energized. 16.82 million students are enrolled in DIKSHA as of March 28, 2023. Karnataka leads the state in the number of learning sessions attended (9.32 million), followed by Rajasthan (6.10 million) and Odisha (4.45 million).