Chat Bots and the Future of AI

Ask someone remotely tracking technology about the next big thing that will reshape the world and mo...

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  • 12 Dec 2016
    To succeed with your idea, it is important to work on the problems currently faced by a group of people. It ensures that the problem really exists. It sounds obvious to say that business ideas should only work on problems that exist. however, most common mistakes entrepreneurs make is to solve problems that don't exist.   Why so many start up venture into something that no one wants ? Because they are merely looking at doing something different, without gauging the potential of their idea. When we run our ideas with our friends they don't say they won't use the byproduct, but you get a response that it sounds great and they may potentially use it at some point tomorrow. However, after you launch, you have zero users.   When an idea launches, there have to be at least some users who really need what the byproduct is, not just potential users, but those who want it urgently. Usually this group of idea users is small, because if there was something that a large number of people urgently needed, it would already exist.   Enterprising people often hold back their start-up ideas as they fear that their ideas may be copied or ridiculed, instead of calculating the potential of the idea by exposing it to a community or group of people, who may become  potential users of the byproduct of that idea. Entrepreneurs have to move out to find this group of users and litmus test their innovation before investing time and money.   How do you tell whether there's a path out of your idea? How do you ascertain whether something has the potential of a next Google, Apple or Facebook, or it is just a niche product that may or may not succeed?   Most successful founders don't even realize at first how big a market they are targeting. They grow while exploring their idea and change their business model into something that appeals to a group of people who need their byproducts urgently. This is entrepreneurship.       Sharing ideas on a dedicated platform such as Idea Center on will help you  get neutral reactions from those who don't worry much about the relationship, but consider the usability based on their actual needs. It is a litmus test for the success of your idea. You could potentially have a demand created even before you launch the final product. For sure you can get loads of suggestions that can be filtered to create a much more refined product.   History testifies that people have indeed copied  ideas, however, not before those ridiculed ideas proved themselves for those who  replicated them. For example, Ola  copied Uber’s successful business model after Uber was valued in billions of dollars and e-commerce marketplace player, Flipkart expects government to provide protection to counter the leader -Amazon in its eCommerce business. Neither Uber nor Amazon made any efforts to wrap their ideas and make them confidential, but they went on to try them by talking about them.   Groundbreaking ideas can rarely be copied before they become a reality, because they are different and need skills and in-depth thought process unique to the individual who successfully grooms the idea into successful business. More often than not, potential ideas die their death, due to lack of knowledge and skills to execute them.  In other cases the idea simply seems too attractive for the individual who thinks it, but is unable to gather the momentum in terms of the users of the byproduct of that idea.   Sharing your idea motivates you to work further on your half-baked ideas when people question, appreciate and inspire you.  You can get a co-founder, who shares your vision. You will also have access to mentors who will guide you on your way forward and  the investors who may be willing  to bet on your idea.   Testify your ideas and gather the groups of users who need its byproduct urgently. That's the sole mantra for success. You can do it by keeping everything confidential and investing in each of your idea, before most of them are proved worthless, simply because there are no users for your niche or you can start today and publish whatever comes to your mind and select those who appeal to a group of users.   Think what would happen if all of the startups in Silicon Valley suddenly stopped talking to each other? The answer is predictable: deal flows, partnerships and innovation would stop. The time that an idea takes towards becoming the next giant will only go up multi-fold and many ideas which get ridiculed, would  not even see the light of the day.   Go on and share your thoughts on Idea Center at Realize the next big venture with the Innovators, the group, who needs your products.    
    1394 Posted by Expert Advisor
  • 30 Jun 2017
    Congratulations! You have come up with the next big Idea and your friends and family have encouraged you to go ahead with it. Now you are thinking about execution and the first thing that catches your attention is the capital required for staring the business. Newspapers and online media are full of funding stories and you are confident that you will get an Investor or a lender to support your path breaking Idea. Alas, once you start approaching a few, you realize that you are not yet at the point where a angel investor or a lender would invest in you. So you start selling your assets, borrowing against your home, availing your credit card limit and asking loved ones for loans. Before you start getting into personal finances and soured relationships, do a reality check- vet your idea and get the “proof of the concept” to start sailing with confidence on your brand new journey.   Vet Your Idea How do I vet my idea? Well there are multiple ways to go about it. One is to launch a prototype and get the market feedback and the other is to launch your idea on a public platform for comments and feedback from the rest of the world. Try logging on to Idea & Plan on to reach out to the community. Once you have vetted your idea and have the proof of concept, it’s time to get into action with concept funding. Call a few incubators to gauge their interest and work out a strategy that is most suitable for you. Incubators come in various flavors – Some are sector specific and looking at developing future solutions and partners, while the others are primarily selling space and services in return for cash and/or equity.   Seed Funds If you strongly feel that parting with equity in very early stages is not prudent, a sweet spot could be finding a supplier, distributor, or a customer who gains enough to bear the bill. This is a planning-for-success. If your solution aligns with an existing business problem, there will be potential early adopters who could make a strategic investment in their success.Bootstrap yourself and use revenue generated from early adopters to pay your bills. If the solution has potential users who alone cannot cover your costs, consider borrowing or raising a small loan. If you are lucky, you may get a lender, who may be willing to provide a loan at leaner terms. Banks being risk averse are not the best sources for such deals; you may be better reaching out to Non-Banking Financial Institutions or  lending platforms. Bornbrio can also helps you raise loans. To create your loan campaign  please click this  Link.   Growth Capital Your minimum resources have generated the first few customers and now you need funds to rapidly scale your business and take it to much larger pool of customer. You can reach out to an Angel Investor or an early stage VC fund for this growth capital. This round of funding is typically known as - Series A Funding. Getting appointments with VCs and Angel Investors may be a tedious task and sometime may consume time and efforts at the cost of the business. Bornbrio provides you an alternative where you can float an equity campaign with a flexible but realistic term sheet for the investors to consider live bids for stakes in your company. Imagine Angels across the world taking a peek and considering investment. You not only get the best deal, but also a quicker and better responses. For Creating a Private Placement campaign for raising your growth funds please click here.
    1001 Posted by Expert Advisor
  • 09 Jun 2017
    Ecommerce seems to be dead as a new business to many, except when they see startups like “Licious”- An ecommerce company providing meat at your doorstep at a press of a button.   Time is precious and Licious packages it as a value proposition along with the best quality processed meat for its premium customer.  The company was founded by Abhay Hanjura and Vivek Gupta in 2015.   Abhay and vivek loved lamb chops and fish steak, but every time they ordered those from a restaurant, they found the food lacked texture and was often insipid. They researched and found that when meat was stored between 0-5 degrees centigrade it remained fresh, but when deep-frozen for longer use, it became hard and tasteless. This led to a business plan to deliver fresh and hygienic meat at the customer's doorstep - a product curated based on the customer need.   Maths and cash flow economics is important in ensuring that you create value. “We follow Zero inventory model and have perfected the art of estimating demand with hardly any wastage. Customers can order online through our application or by calling us between 8 am- 8 pm, getting free shipping for a minimum order value of INR 300. ”, says co-founder Abhay Hanjura.   Licious raised $1 million seed funding in 2015, $3 million in Series A funding in 2016 and $10 million in Series B funding in 2017.  Scalability and delivery model have created the magic. A former finance controller at venture fund ‘Helion Advisors’ Vivek Gupta says, “Our model for every city will be one central processing centre with 8-10 delivery hubs. Larger cities may have 2-3 processing centre and 15-20 hubs”. In Bangalore they now have about 50,000 orders a month, averaging at about 1,500-1,700 per order and a customer base of about 30,000 users. Before the end of the October they are plan to reach the target at 1, 00, 000 order per month.   Swiggy, a food delivery app, has invented a new model of food delivery with delivery boys collecting paychecks at point of delivery. The model which focuses on keeping the kitchens running for the restaurants for their profitability has been received warmly by the investors when the large ecommerce players such as Snapdeal are shutting shop. Discovery of need, greater personalization and a better customer experience will define future businesses in the ecommerce. Customers will welcome those offering solutions that do not exist and experience that is similar to in store purchase. The product quality both online and offline will be the success mantra for newer players in the market. Product curation with product knowledge and expertise will be required to make it more enjoyable and all rounded experience for the customers.   Ecommerce is ultimately about presentation, execution and the math around it. If you get it right, the rest will follow. The next wave of ecommerce will be Artificial intelligence with revolutionary algorithms, optimizing experience, cost and speed of delivery. This will be a game changer and those who take the lead will be the next ecommerce giants.  
    949 Posted by Expert Advisor
  • 13 Dec 2016
    On 16th Jan 2016, Prime Minister Narendra Modi kick-started the ‘Startup India, Standup India Campaign’ with the intention of building a strong ecosystem for nurturing innovation, driving sustainable economic growth and generating employment. Prime initiatives taken by the government are focused on reducing regulatory burdens, funding, Industry-Academia partnership and incubation.   Start Ups now have access to Single Window Clearance and 10,000 crore fund of funds under the program. There is  No Capital Gains tax and Income tax applicable for three years and special schemes have been announced for women entrepreneurs. RBI has proposed relaxations enabling start-ups to receive foreign venture capital investment by permitting Foreign Venture Capital Investors to transfer shares to other residents or non-residents. Start-up India Hub has been created to foster mentoring for start-ups and to help them in obtaining funds and advice. The government also launched Mudra Bank in April 2015 to boost the growth of small businesses and manufacturing units. The new Bank provides a credit facility of up to INR 50,000 to small businesses. NASSCOM has started a program called 10000 startups in association with the industry and aims to facilitate and incubate Start Ups.       The government is doing its part, the world considers India as a hot investment destination and angels and VCs are in line, looking for bright ideas in the market that has more growth potential than any other across the world. Softbank has invested US$2 billion into Indian startups. The Japanese firm has pledged the total investments at US$10 billion. Oracle announced to set up nine incubation centers in Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada. Many other corporate and MNC's have announced several other funding and incubation programs. This is a big boost to the entrepreneurial and start up machinery in the country.     "Is there one invention from India that has become a household name in the globe? Is there one technology that has transformed the productivity of global corporations? Is there one idea that has lead to an earth shaking invention to delight global citizens?," asked NR Narayana Murthy, chairman emeritus of Infosys, while addressing the second annual convocation of the Indian Institute of Science (IISc), Bengaluru. "...the reality is that there is no such contribution from India in the past 60 years," he said, answering his own question.         Wake up India, it is the time to innovate and launch your ideas. Never before has the time been more ripe to do something of your own. Education, bureaucracy, money and infrastructure is no more an excuse to not to unleash your creativity. Make use of the favorable regime and investment environment, realize your ideas and turn them into giants that are not only revered and followed, but also set examples for other developing nations across the world.    
    860 Posted by Expert Advisor
  • 09 Jun 2017
    Sound can prove existence of a life in outer space. In physics, sound is a vibration that propagates as a mechanical wave, through the transmission medium such as air or water. Tonetag took this concept to payments.   The Bangalore based startup was founded in 2014 by Kumar Abhishek along with his friend Vivek Singh (Co-founder).  Kumar worked at IBM, Infosys and Mind Tree Consultancy before launching Tonetag with investments from Angel Investors - Mr. Ram Sellaratnam and Mr. Rajesh Yohahanna. Tonetag uses NFC technology available in most smart phones to facilitate ‘card less’, ‘cashless’ & ‘contactless’ payment through smart phone or mobile.  Its works on any mobile device and no internet is required on the user device at the time of initiating payment. The payment mode is more secure than other available methods with 3 layers of encryption, tokenization, HCE and White Box Cryptography. Shoppers Stop, India’s leading fashion retailer, Nandi Infrastructure Corridor Enterprises (NICE) Toll Plaza, and Yes Bank one of the largest leading bank in India, retail pharmacy chain Trust Chemists and Druggists have partnered with ToneTag to provide an advanced payment solution to their customers.Tonetag has also partnered with other banks and digital wallets, including HDFC Bank Ltd, ICICI Bank Ltd, Freecharge and Airtel, who cumulatively have a user base of more than 40 million Indians.   Tontag, raised $1 million in funding from Reliance Venture Asset Management in August 2015. Other investors include Nasscom foundation trustee Arun Seth, Manipal Global Education chairman T.V. Mohandas Pai, Snapdeal’s ex-chief product officer Anand Chandrasekaran and Gencoval Strategic Services Pvt. Ltd chairman Deepak Ghaisas.   NFC in itself is nothing new.  Apple Pay uses the same technology globally and is one of the preferred payment methods in the industry. NFC has found several other applications such as medical devices.  Investments seen in Tonetag and the traction that the company has, indicate the potential of future technologies in Payments space.   Fintech remains as one of the hottest investment category in the startup space and many new technologies are making way. Acceptance of blockchain has opened many more doors for new players to offer more innovative and secured solutions.  One, who truly converts money into a digital currency that is accepted globally, will win the game and Bitcoin has the lead today. The interfaces facilitating payments in those currencies will have several faces and companies merging to facilitate those transactions will be the future of Payments.
    560 Posted by Expert Advisor
Chat Bots and the Future of AI

Ask someone remotely tracking technology about the next big thing that will reshape the world and most likely the answer will be “Artificial Intelligence”.  If your next question is – “You mean Machine Learning?” – You are likely to get a shot back – Aren’t they one and the same thing?  That’s precisely the status of the so called AI chat bots in the market today. The concept used is machine learning based on data warehouses and the flaw is a lack of understanding of human neural networks that lead to human mood swings and behavior changes. The absence of this inherent human intelligence gives them the reputation of being “Silly” – Remotely what “Artificial Intelligence” is destined to be. Most AI chat bots currently in the market are unsophisticated and repeat a set script dependent on what is typed into the chat boxes. As are the genuine advances, so is the hype, where almost 30,000 chat bots were launched soon after Facebook opened its messenger APIs.


The next rung of chat bots will move away from ‘forced flow’ to ‘recommended flow' and 'Spatial Intelligence'. They will recognize constraints and develop a solution most appropriate in the given circumstances. If a user is restricted to what you want him to do, and the way you want him to, he would quickly lose interest and in all probability, not come back to you again. Upcoming chatbots will be able to guide the user and indulge in human emotions. The recipe for success will be engaging and building trust by leveraging the power of conversations. This will be the first step for evolution of ‘Artificial Intelligence”.


So what exactly is Artificial Intelligence? Can it mimic all the functions of a human brain? What is the proper form of mathematics that may capture the operation of minds and brains? What about consciousness, sense of self & ethical conduct? Though the technology today is rudimentary, it is evolving fast to prepare the stage where machines will be “smart” with human IQ, EQ and HQ.


In 2015, AI became the next technological wave when Google paid US$400 million to acquire Deep Minds, a company working on training a machine to figure out natural language and instructions. Past two years have seen dozens of Artificial Intelligence startups in healthcare and education being acquired by global giants. The quest is to develop a blue print of the best of the human minds and the first step in this process of evolution is “conversation”- natural conversation. It requires a bot to combine its understanding of the conversation with its knowledge of the world to produce a new sentence that perfectly fits the situation and helps it achieve its goals. Natural conversations will help build the knowledge platform for the future of what I call as “Artificial Intelligence” with machines that can replace humans on any given task. That’s a process called “deep reinforcement learning” that will lead to what many call as second industrial revolution. Deep Reinforcement Learning will utilize a combination of neural networks, on open AI platforms, to devise an artificial human brain capable of undertaking complex tasks such as detecting the real intent of the person that it is speaking to.


As the AI technology evolves, its increased sophistication has been admitted to be a cause to both celebrate and worry. It is forecasted that by 2030, NY Times will be printed end to end by AI Bots.  Professor Stephen Hawking warns that the age of Terminators is coming, where machines will rise up and overtake humans in the evolutionary race.