Thursday, April 18, 2024
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Innovate or Perish

The industry can ill-afford to ignore the significance of technology; players will have to embrace it, else they face the threat of becoming irrelevant in a fast-changing environment

A session on how the industry can benefit from technology and innovation proved to be the icing on the cake. Be it AR or VR or how AI is making inroads into the industry, and why the industry can ill- afford to miss the innovation bus, were discussed at length.

Alok Agrawal, the founding partner at The Growth Labs, asserted that organisations that did not continually innovate would soon become irrelevant and cease to exist. “These are interesting as well as challenging times. The need to measure up to the new benchmark – Industry 4.0 – has set the realisation about the criticality of innovation,” he said. He added that the kitchen industry would have to be alert to opportunities if it wants to improve all aspects of business operations.

About The Growth Labs: The Growth Labs is a consortium of ex-CXOs and industry experts who enable growth stage companies to achieve scale. Through corporate innovation programs, it helps corporates accelerate their innovation and build partnerships with start-ups. Its consulting modules include Brand Labs, Sales Labs, Investor Labs, Leadership Labs, Profit Labs and Future Labs.

Vinish Kathuria, the managing partner at SenseAi, spoke about leadership in the world of Artificial Intelligence (AI), and stressed that the opportunity was huge; just that players needed to grab it.

AI has great potential in the kitchen value chain. For example, AI can be used for inventory management and bringing predictability into logistics. In the case of production, it can be used to reduce downtime and for predictive maintenance of kitchen appliances. Kathuria cited the example of Hello Egg, an AI-based meal planning and cooking assistant that provides voice navigated video recipes.

About SenseAI: SenseAI helps AI entrepreneurs turn their ideas and technology into successful companies. It partners with leading academic institutions, researchers and companies to help entrepreneurs develop and market innovative AI-led solutions.

Kanav Singla, the founder of ADLOID, shared insights on Augmented Reality and its applications to home improvement.

“The consumer today has an emotion attached to every purchase. Through AR/VR, we can show furniture to the consumer right in his home without the hassles of logistics and returns. All that the customer requires is a smartphone.”

About ADLOID: ADLOID is a B2B enabler for augmented reality solutions, providing end-to-end solutions in technology and the tools for developing AR/VR applications. It creates AR/VR experiences using globally recognised SDK for various sectors like furniture and automobile.

Also read: Focus on Customer-centricity


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