Nilesh Jain is a serial entrepreneur, strategic marketing advisor, having passion towards mentoring and consulting startups to grow exponentially on a global scale. Seasoned professional in sales management and business development, have been transforming growth stories for multiple companies. Leadership experience spans from hard core technology and healthcare industry, to manufacturing, software products, supply chain companies and many more.
With over 20+ years of entrepreneurial and operational experience, have a proven track record of building and managing companies, revenue centers as well as developing strategies to improve businesses. Investor for over 10+ companies, CEO and Co-Founder of 5+ companies and have handled leadership and senior roles throughout.
The IncubateIND team recently in an email interaction spoke with Nilesh Jain on the Future of Technology and how robots are becoming mainstream and how AI is changing the entire healthcare and education sector.
“The next five years will be key in helping integrate technology developments that will enhance the customer experience and provide consumers with new options. From artificial intelligence to blockchain and machine learning, the way that companies process information and garner the attention of consumers will grow and change in near future.” – Nilesh Jain
Can you give examples of new technologies that have had a big impact on investment trends?
- Commercial Deployment Of Blockchain: The commercial deployment of blockchain will be revolutionary across healthcare, logistics, fintech, etc.
- Artificial Intelligence, Neural Networks & Natural Language Machine Learning: Natural language machine learning will have a huge impact on consumer technology. This technology will make technologies ever so easy for the consumer who can just “tell” a devices, appliances and other equipments. AI is all about automation, prescriptive analytics, business process automation, and driving radical efficiency.
- Internet of Things (IoT) – Intelligent Distributed Systems; is transforming how companies & consumers go about their day around the world. The technology that underlies this segment is evolving quickly, whether it’s the rapid rise of the Amazon Echo and voice assistants upending the consumer space, or growth of AI-powered analytics platforms for the enterprise market or connected medical and fitness devices.
- Cybersecurity – Whether it’s the latest breach of a company or government agency, a new vulnerability in a piece or popular software, or a lax security practice from a company that should have known better, there are moments every day where we can’t help but shake our heads at the sad state of cybersecurity. That’s why the problem is likely to get worse before it gets better.
What are some of the technologies currently you are keeping an eye on that you believe have the potential to change the world forever?
- Digital centralization. Many different types of devices, including smartphones, tablets, smart TVs, and dozens of other “smart” appliances, like Picostone home automation have rolled into our lives. We will come rely on lots of individual apps in our daily lives, including those for navigation to even changing the temperature of our house. Consumers will demand centralization; a convenient way to manage everything from as few devices and central locations as possible. Smart speakers are a good step in the right direction, but 2018 may influence the rise of something even better, smart homes technologies like Picostone and connected healthcare device from Clinivantage will change the way of life.
- Smart UI & Seamless conversations with machines. Voice search was decent, but unreliable; now, voice search is almost flawless, making it better at recognizing speech than human transcribers. Chatbots & robotic speech are growing, I imagine we’ll see solidification of seamless conversation. We’ll be able to communicate with our devices, both ways, without any major hiccups or mistakes. We’re going to change forever how we interact with devices. Smart speakers and better voice search will make screens & input data irrelevant.
- Event Driven Healthcare – Vitals & activity is always sensing and ready to exploit new digital healthcare models. Healthcare events could be anything that is noted digitally, reflecting the discovery of notable conditions, nutrition, physical activity, genomics, or changes in states. With the use of event alerts, IoT, cloud computing, blockchain, in-memory data and AI, “care” events can be detected faster and analyzed in greater detail. We have many point solutions…the problem is people get them too late. “You don’t wait til your home is almost burnt down and then you call the fire department.” Smart data discovery capabilities in healthcare will drive huge advances in how we understand unstructured data. Prescriptive analytics will go beyond knowing, providing recommended actions based on better outcomes.
Do you think Humanity and AI will be inseparable in years to come?
AI challenges fundamental concepts such as the human and the machine. Are the machines going to wake up, are they going to become super-capable – NO, because we’re building super-narrow, task-achieving super-intelligent machines. I believe in the next 3 years AI will start to become mainstream, & impact many aspects of our lives in a meaningful way. Everybody will have a virtual assistant, and they’re going to be pretty smart. All your voice-based gadgets will work together. Thanks to AI, the face will be the new ID. In 5 years, half of leading healthcare systems will have adopted some form of AI within their diagnostic groups. And while a lot of this adoption will happen first in the diagnostic medical specialties, we’re seeing solutions like Clinivantage for population health, hospital operations and a broad set of clinical specialties.
By when do you think Robots will actually take over Humanity?
Robots have already taken over human “tasks”, but we have a long way to go before AI and robots outperform humanity. We get to be uniquely human, leaving robots to specialize in performing tasks uniquely suited. Automation in the most “micro” sense will allow us to offload the repetitive tasks & free up humans to do other things. Intelligent machines can occupy the tasks and spaces, such as the computing of large, complex mathematical data and proofs, designed specifically for their capacities, freeing up humans to do the naturally “human” tasks and jobs. So, in short robots will take our tasks and leave us to better tasks that only humans could do, hence I don’t think robots will take over humanity, but will complement in the growth and development of the human race.
How Is AI Used In Healthcare & Education sector? – 5 Powerful Real-World Examples that India can learn from.
AI Used In Healthcare
Personalized Care & Medication management: AI systems have been created to analyze data from patient’s file, external research, and clinical expertise that can select the correct, individually customized treatment plan with better patient outcomes. Clinivantage has developed a digital app to help people monitor patient’s condition and follow up with treatments, between doctor visits. The program uses machine learning to support patients, specializing in chronic illnesses.
Digital Care & Virtual Care providers: Apps like Clinivantage use AI to give medical consultation based on personal medical history and common medical knowledge. Users report their symptoms into the app, which uses data lakes and neural networks against database of illnesses. Clinivantage then offers a recommended action, taking into account the user’s medical history.
Continuous Health Monitoring: IoT Devices & Wearable trackers monitor heart rate and activity levels and other critical vitals. AI systems can send alerts to the user and share this information to doctors (and other AI systems) for additional data points on the needs and habits of patients.
AI Used In Education
The world of academia is becoming more personalized and convenient for students thanks to recent advancements in artificial intelligence (AI).
Automation of Administrative Tasks: AI has great potential in automating and expediting administrative tasks for both organizations and professors. Grading homework, evaluating essays and offering value to student responses is where educators spend the most time.
Smart Tutors and Personalization: There are smart tutoring systems such as Carnegie Learning that use data from specific students in order to give them feedback and work with them directly. While this AI application is still in its early stages, it will soon be able to work as a full-fledged digital professor that helps a students with their educational needs in just about any area of need.
Crowdsourced Learning: Technology facilitates peer-to-peer learning by making it easy for students to ask questions, connect with “friends,” and have their questions answered by other students. For example Brainly partnered with Professor Chirag Shah and Rutgers University to use machine learning to match students based on their skill sets & Brainly users who can mentor them.