NITI Aayog collaborates with private sector to help MSMEs adopt artificial intelligence

As per news reports, NITI Aayog and ABB India, leading technology solutions provider brought together entrepreneurs, policymakers and representatives of state governments to deliberate on how the Indian economy can digitally evolve with the help of emerging technologies like AI, big data and digital connectivity. The workshop which saw the participation of MSME representatives discussed issues ranging from adoption of AI to the possible effect of automation in today’s workforce.

NITI Aayog along with the major stakeholders, Anna Roy, Senior Adviser, said, “At NITI Aayog we are no longer working on one-way policy plans, we have wide and deep interactions with those for whom the policies are intended to focus on. At ABB Ability Innovation Center we have brought all stakeholders of MSME value chain to identify the roadblocks and together find ways in which we can address the same using tools ranging from policy to technology.”

Mr. Sanjeev Sharma, ABB India, Managing Director, also made a statement that, “India can leapfrog and show the way when it comes to innovative AI applications. Working with MSMEs and the eco-system is critical for the industrial and manufacturing adoption of such technologies.” He also added that, with its established history of working with them for several decades and driving the change with new digital solutions, ABB would be the perfect catalyst.

As per the latest government report on the MSME market, in India, manufacturing MSME forms the majority establishment with 31 per cent. In fact, around 200 lakh organisation are providing employment to about 360 lakh people in the country.

With the fast pace development in the field of AI and ML advancing in the country, the technology has the potential to bring large-scale disruption in the sector. Thereby, realising the potential of the technology and the large number of manufacturers in the MSME sector the discussion took place to discuss on an AI strategy and with initiatives like Tool Room for manufacturing MSMEs, the government hopes to bridge the knowledge gap that is currently present in the industry.

Mr. Roy exclaimed on this, “as India gets recognised as a global hub for AI technologies and Industry 4.0 reshapes global manufacturing in the coming decades, we look at companies like ABB with a legacy of global technology leadership to lead this revolution by enabling our vibrant MSME base.”

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