India's largest platform for AI & Analytics leaders, professionals & aspirants

Sign in

India's largest platform for AI & Analytics leaders, professionals & aspirants

3AI Digital Library

Innovation reimagined by AI

January 10, 2020

The extra ordinary promise of AI : Global & Indian enterprises have a lot to gain from unleashing innovation with AI —but harnessing their potential demands focused investment and a new way of working with external partners.

Here are few salient features of how AI has become game changing trend in spurring innovation; existing challenges and few strategic approaches of unlocking innovation with AI :

  • 22% growth : From 2015 through 2019, disclosed private investment in seven deep tech sectors grew an average of 22% per year, equaling nearly $60 billion in total investment. Corporate venture capital is also playing an increasingly active role.
  • Total investment : Nearly $60 Billion Invested in Deep Tech’s Fastest-Growing Sectors in 2019; Artificial intelligence corners close to $25 Bn
  • About 1800 AI led startups in the US accounted for roughly half of this total investment, but other countries are catching up fast.

Existing Challenges

  • Complex ecosystems : Multiple types of players including startups, venture capital firms, governments, universities and research centers, and early-adopter user groups
  • Dynamic Interactions : Few central orchestrators; business relationships based on informal networks rather than formal contracts

Strategic approaches of unlocking innovation with AI :

  • Cooperate in order to compete : Think beyond the enterprise’s immediate goals; commit to a long-term vision for the development of the ecosystem as whole
  • Identify capabilities that add value : Define what the enterprise can offer to nurture the ecosystem and bring AI to market—not only money but also access to customers, data, networks, mentors, and technical experts
  • Don’t pick winners in advance : AI startups are evolving rapidly. Continuously monitor the ecosystem to identify successful startups, applications, and business models as they emerge
  • Blur the boundaries with partners : Make it easy for AI partners to navigate your corporate system. Define a clear role for them in your innovation strategy, ensure senior-executive sponsorship, and engage the core businesses
  • Streamline decision making and governance : Success requires partnering more nimbly with fast-moving AI startups. Embrace agile ways of working.
  • Develop breakthrough solutions by combining expertise from previously unconnected fields or industries. Be alert for game hanging opportunities that deliver both economic and social value.

AI will transform business and society in the future. The time to craft a AI strategy for unleashing innovation is now.

AIQRATE works closely with global & Indian enterprises , GCCs , VC/PE firms and has an extensive yet curated database of 1000 + global AI startups , boutique and niche firms benchmarked on our “Glow Curve” assessment.

(AIQRATE advisory & consulting is a bespoke AI advisory and consulting firm and provide strategic advisory services to boards , CXOs, senior leaders to curate , design building blocks of AI strategy , embed AI@scale interventions and create AI powered enterprises . visit : ; reach out to us at )

Related Posts


    3AI Trending Articles

  • Microsoft Announces Limited Access to its Custom Neural Voice

    Microsoft announced limited access to its neural text-to-speech AI called Custom Neural Voice. The service allows developers to create custom synthetic voices. . The Custom Neural Voice is a Text-to-Speech (TTS) feature of Speech in Azure Cognitive Services that allows users to create a one-of-a-kind customized synthetic voice for their brand.  Since the preview last year in September, the […]

  • Top four focus areas to help you shape a data-driven enterprise

    Author: Praveen Reddy, Vice President (Digital – data, analytics, and cloud) | Genpact As we navigate the world of data, some significant trends are manifesting with respect to data ownership and utilization. There are multiple triggers for these trends – ever-rising complexity of data, lack of proper intelligence concerning data assets, need for accelerated digital transformation, […]

  • Salesforce embraces the public cloud with Hyperforce

    Salesforce is letting CIOs choose where they run its software, easing compliance with data protection and data sovereignty laws. President and COO Bret Taylor believes the SaaS vendor has made “probably the most significant technological shift” since its CRM platform first launched 21 years ago. But Taylor wasn’t talking about the company’s agreement to acquire […]

  • Barco unveiled its largest global Centre of Excellence for software innovation and R&D in India

    Professional visualisation and collaboration technology leader Barco on Wednesday unveiled its largest global Centre of Excellence for software innovation and R&D in India. In keeping with the hybrid workplace model, the new facility in Noida is designed to enhance productivity and features a common lab area offering flexibility for expansion or addition of new labs. […]