Next Big Wave

Next Big Wave

Artificial Intelligence(AI), which is hailed as the next big thing in the future. AI’s beneficial impact on society is a huge motivator for research in many areas of Science and Technology. AI is swiftly becoming the foundational technology in many diverse areas like finance, IT, agriculture, trading. Moreover, Machines have essentially cracked speech and vision specifically and human communication generally.

Artificial intelligence is no longer an elective. It is critical for companies to figure out how humans and computers can play off each other’s strengths as intertwined actors to create competitive advantage. In fields ranging from medicine to finance, tons of studies have shown that replacing experts with models of experts produces superior judgments. The implications are profound.

  • Infosys ‘releases’ 9,000 employees due to automation (Jan 2017, The Economic Times)
  • 47% of total US employment is in the high risk category, meaning that associated occupations are potentially automatable over some unspecified number of years, perhaps a decade or two

 The above examples depict the perils of the machine age on humans. Similar solutions are considered by Investment banking industry – It is possible that in coming future AI would replace a major chunk of employees in the finance industry sector. Since AI systems can think and interact, they are comparable to humans. An important question is what will happen if the quest for strong AI succeeds and an AI system becomes better than humans at all cognitive tasks?

The AI revolution offers both promise and challenge for business leaders. Propose a business strategy of dealing with the Machine Age  in any relevant industry in the years to come. The solution can focus on questions based on (but not limited to) the following issues.

  1. What roles of humans will be handled by machines/AI?
  2. How should workplace practices adapt to the technological advancements?
  3. What will be the new form of employment? What reskilling of employees will be required?
  4. How should the organization be designed for creating competitive advantage through human-machine collaboration?

As a manager, how would you handle the team of robots working under you. On what parameters will you decide on the no. of robots under you, what will be the evaluation criterion. You should specify the management perspective of the problem.

Prizes Worth: INR 25,000

 

Register Now!

 

  • Round 1 (Pre-Vista Prelims)

    • Round 1 is an elimination round
    • Participants are required to email a soft copy of their executive summary as specified in the submission details section
    • The word limit for executive summary is 1500 words
    • Each entry should have a cover page mentioning the name of the participants, the name of the company/institution they belong to, email ids and telephone numbers of the participants
    • Send us your entries in the format specified below in the Submission Details tab
  • Round 2 (On-campus Finals)

    Round 2 will be the final round and participants need to present their idea on stage followed with question answer session (12+5 minutes).

  • The event is focused on creating disruptive business models that elaborates a business strategy centred on the impact of Artificial Intelligence (AI) in a work setting.
  • It is open to participants from institutions as well as Corporates.
  • It is a team event with minimum two and maximum four members allowed per team
  • Company details will be kept confidential if preferred
  • Round 1 (Pre-Vista Prelims)

    • Email your submission to: nextbigwave2016@gmail.com
    • Submissions to be sent before: 23:59:59 hours, 13th September 2017
    • Email subject line: NEXTBIGWAVE_<College Name/Corporate Name>_ <Team Name>
    • Submission format: .doc or .docx
    • Body of email: Name, Contact Number, Email Id, Team Registration Id and Institute Name of each team member
    • File name: <College Name/Corporate>_<Team Name>
    • The executive summary (max 1500 words) should ideally give only the key points regarding:
      • Summary of the idea
      • Core team members and their functionality
      • Relevance of the industry
      • Industry perspectives: Industry pain areas
      • Value proposition
  • Round 2 (On-campus Finals)

    Details will follow Round 1 results are announced

Team Size: 3-4 members per team

Round 1 Submission Deadline: 13th September 2017

Anand – 9975568467

Soumik Sarangi – 8083184579