Where there is AI, there is data, in every industry

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Mint Digital Innovation Summit 2024.Participating in a panel discussion on “How AI, GenAI are powering digital transformation across sectors in India", Roopa Basrur, vice-president of Global Safety Medical Writing at Parexel, a Durham, North Carolina-based biopharmaceutical services company, said workflow automation, robust decision-making, and search and retrieval of data are the areas where AI's impact has been the most in the pharmaceutical industry.Basrur emphasised the use of AI in medical writing as well, which includes using data to determine whether a drug is safe for use or if there are warning signals.“So, we actually have developed an in-house literature review tool that helps to do exactly what you were talking about, that is cutting down the amount of time spent in drug research and drug safety," said Basrur.Moving to an industry that embraced “digital" from the get go, Abhishek Ravi, chief information officer (CIO) at Mumbai-based Indian fantasy sports platform Dream Sports (Dream11), said AI technology was ever-evolving for him and not an overnight wonder.

“AI has definitely been a very important factor for us to reduce our costs," said Ravi.The Dream11 CIO said the fantasy gaming platform, which according to Ravi saw a traffic uptick of 42% compared with the previous year, would have faced issues pertaining to scale if it had not adopted AI-led digital transformation.“We at any point of time have more than 200 experiments running on our platform and all those platform experiments are being powered by AI with different machine learning models," said Ravi.The former Infosys employee said that intelligence had become a commodity for all to use, which eliminated competition between his tech and non-tech