ML, AI Are Data Hungry Functions: Shabir Momin

In the coming one or two years, things are bound to change very rapidly as the data that is being generated around the world is predominantly digital nowadays. According to Mr Shabir Momin, MD & CTO at ZengaTV.com & One digital entertainment, this will help all the Machine Learning (ML) and Artificial Intelligence (AI) entrepreneurs in finding potential to play and fulfilling the gaps that exist in the market currently.

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Q1 – Tell Us About the Digital Transformation in the Business, Work Culture Etc Due to Pandemic. How Has It Impacted Entrepreneurs’ & Startups’ Approach?

I think during the first year of the pandemic, most entrepreneurs and startups focused on survival; uncertainty brings stress on cash flow, business cycles and leads to challenging the basic existence and viability of a business. Entrepreneurs are also humans and have emotions. I know they had to take hard decisions on cost-cutting, salary cuts and many other measures to just survive. Some took a very different stand of fighting back with extra efforts and didn’t cut on expenses where they could avoid, specifically like salaries of employees.

This change in business circumstances, cuts on expenses or no cuts but most of them jumped right onto digitising the communication, interaction and rapidly started building processes. Some were already using these but scaled it to the next level. It was do or die in the literal sense for businesses. Many I know also shifted business or focus market or focus industry. The digital transformation became an integral part of the business and changed forever.

Q2 – How Is Technology Like ML, AI Going to Make a Difference in Business and Real Life Situation?

When a significant mass and activities move digital, it also ends up generating a lot of data sets of various kinds, from behaviour to actions to reaction, and probability comes into play. ML and AI are data-hungry functions, and this forced digitisation actually has become a blessing in disguise for industries to be able to work on functions, optimisation, process changes, insights and a new lens of how the same world looks so different now. In the coming year or two, so much will change because the data that we all are generating as we are predominantly digital these days, a new generation of ML, AI entrepreneurs are coming in to play and finding potentials in gap management, process optimisation and many other such things which will push the world to a new generation of tech base.