Skoda aims to manufacture electric cars in India

November 12, 2021

Skoda Auto, which has been tasked with managing Volkswagen’s Rs 8,000-crore India investment, wants to manufacture electric cars in the country, but the EV debut will come even sooner through the imported route, with the launch of the green SUV Enyaq.

Electric mobility is a big emphasis area for Skoda Auto globally, according to global chairman Thomas Schaefer, India will be an important market for green vehicles due to regulatory incentives.

By the end of the decade, the India subsidiary, Skoda Auto Volkswagen India, could have roughly 30% of its local portfolio running on electric powertrains. While this will still be less than the firm’s global objectives of 50-70% green fleet in the same time frame, the corporation seeks a deeper commitment in India by having a deep-rooted local manufacturing setup. “If you don’t go into deep localisation, it will never be feasible,” Schaefer said, adding, the company could indigenise “right down to the cell factories”. He said localisation is critical to ensure affordability.

The Volkswagen Group’s India EV plans come at a time when firms like Tata Motors, Mahindra & Mahindra, and the Korean twins Hyundai-Kia are ramping up their green efforts and investments.

While localization is vital for a sustainable and critical sales mass, Schaefer believes the government should first decrease import duties to allow companies to test-market global products. “Electric cars can’t be penalised. If you believe that this is the future, then till the time until they are localised in India, you cannot penalise them (with higher duty). Otherwise, you will stop the development and you stop the movement in the market and you lose connection with the rest of the world.”

Tesla founder Elon Musk, as well as other players such as Mercedes-Benz, have lobbied for lower import duties on electric cars, and Schaefer’s demand is similar.

E-commerce companies look for large warehouses to expand business

BRL Editor

November 12, 2021

Leading industry officials said significant e-commerce firms wanting to scale up operations in India amid booming online shopping and strong customer demand have announced lease transactions for huge warehouse premises totalling over 4 million square feet.

Amazon, Flipkart, and Reliance JioMart are among the global and domestic companies actively looking for warehousing space to expand their operations across major cities.

“The growth in the e-commerce segment has been significant and once things settle down, the next few years will be good for the industry,” said Aloke Bhuniya, CEO of Ascendas-Firstspace, a global logistics fund.

Demand for warehousing and logistics services is increasing due to the increased adoption of e-commerce, trends such as same-day or next-day delivery obligations fulfilled by third-party logistics providers, and the need to diversify supply chains.

“The Indian warehousing sector has seen significant attraction from both global and domestic investors and occupiers on the back of the GST changes and significant growth in e-commerce,” said Logos chief executive Mehul Shah.

The Indian e-commerce business has seen a major upswing with Covid-19, and the market is anticipated to grow by 84% to $111 billion by 2024, according to a new report produced by financial technology firm FIS.

According to industry estimates, e-commerce companies like Flipkart and Amazon have leased over a quarter of India’s entire warehouse capacity in the last two years. This is predicted to accelerate as a result of a shift in consumer purchasing behaviour following the Covid-19 epidemic.

The predicted growth in warehousing demand is also likely to attract investors looking for bigger profits.

“Government’s support through policy and reforms are further expected to boost the infrastructure spend, and in turn, the overall demand for modern warehousing,” said Chandranath Dey, head – Operations & Business Development, Logistics and Industrial, JLL, India.

India will require about 7 million sq ft of urban logistics space in its urban centres by 2022, demonstrating the importance and rapid growth of the category, JLL said in its latest report.

Disney intends to become the happiest place in the metaverse

BRL Editor

November 11, 2021

Mickey Mouse is getting ready to enter the metaverse. Walt Disney CEO Bob Chapek said the company is poised to take the technological leap into a virtual reality world first imagined by science fiction writers.

Since Facebook CEO Mark Zuckerberg said that its future would be devoted to establishing a robust, three-dimensional environment where users’ digital avatars could work, hang out, and pursue their hobbies, it has become a popular location. Other major corporations, including game developers Roblox Corp and Epic Games and software behemoth Microsoft Corp, are developing their metaverses. Aside from mentioning a phrase that has enthralled Silicon Valley, Disney’s strategy was noticeably lacking in specifics.

On Wednesday, Chapek told investors that Disney’s foray into the digital realm is in keeping with the company’s long history of technological innovation, which dates back almost a century to Steamboat Willie, the first cartoon to have synchronized sound.

“Our efforts to date are merely a prologue to a time when we’ll be able to connect the physical and digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse,” Chapek said during Disney’s fourth-quarter earnings call.

Through the “three-dimensional canvass” he envisions for new sorts of storytelling, Chapek sees it as an extension of streaming video service Disney+.

Tilak Mandadi, Disney’s former senior vice president of digital, wrote on LinkedIn in 2020 about developing a theme park metaverse in which the “real and digital worlds collide” via wearable gadgets, smartphones, and digital access points.

Disney’s digital forays haven’t all ended happily. Club Penguin, the company’s online children’s social network, was shut down in 2017 after 11 years. Its debut into social gaming in 2010, when it paid $563.2 million for Playdom, resulting in a write-down. Its $500 million acquisition of Maker Studios in 2014 to capitalize on the exploding popularity of short-form YouTube videos resulted in the operation being integrated into other parts of the company.

Saeloun Technologies aims to expand in India

BRL Editor

November 11, 2021

By the end of FY22, Saeloun Technologies, an international Ruby on Rails and ReactJS consulting firm, plans to hire over 100 Ruby on Rails and React developers, more than doubling their current team size.

The organization, which recently established its headquarters in Pune, Maharashtra, is a team of developers specializing in web and mobile application software engineering and development. Their knowledgeable developers have assisted in developing websites using Ruby on Rails, ReactJS, and React Native.

The company declared hiring objectives early this year and is now on an aggressive hiring binge for developers and engineers. Saeloun is a distributed team of engineers who work with small and large groups, have years of experience in Ruby development, and have made significant contributions to the community. Saeloun has been a remote-first firm since its establishment in 2019, hiring the top developers from all over India.

Commenting on the hiring and expansion goals, Vipul Amler, Founder & CEO, said, “We are looking to expand and uplift our current team sizes by adding Ruby on Rails and React developers who are passionate about solving problems and are self-driven to contribute to the Ruby and React communities,” he said in a statement.

“We believe that to be productive, our team does not have to work from an office. Remote working allows our team members to be more productive by saving the commute time to work, fewer office interruptions allowing them to focus on their work and also an employer we get to hire the best talent from across the world. We do have an office in Pune, where employees can work out of, if needed and have regular meetups with the team.”, he added.

Saeloun Technologies, as an employer, encourages employee wellness and well-being in the workplace from the start, with flexible work arrangements and a hybrid setup. The organization, a prominent supporter of employee wellness and workplace flexibility, is also developing new programs to help employees feel at ease in their positions and teams. It is committed to transparency and provides financial information with employees, and returns 25% of all annual revenues to them.

The company’s ambitious recruiting effort is in line with its expansion plan in India, which calls for a valuation of $100 million by the end of FY23. With its recent success with specialist consulting services, the company has seen significant expansion in its customer base, a high client retention rate, and minimal employee attrition.

Saeloun Technologies is now on a mission to meet its clients’ rising demand by expanding its workforce and hiring the right individuals to produce faster, better, and more cost-effectively. At the same time, employees must come first, and the company must be an excellent place to work with a solid work-life balance.

Google’s parent company sets up AI-driven drug discovery start-up

BRL Editor

November 6, 2021

San Francisco, Alphabet, the parent company of Google, has formed a new start-up devoted to medication development using artificial intelligence.

Isomorphic Laboratories, a new Alphabet subsidiary, will build on the achievement of DeepMind, which utilised AI to predict a protein’s 3D shape directly from its amino acid sequence.

“I’m thrilled to announce the creation of a new Alphabet company — Isomorphic Labs — a commercial venture with the mission to reimagine the entire drug discovery process from the ground up with an AI-first approach and, ultimately, to model and understand some of the fundamental mechanisms of life,” DeepMind CEO Demis Hassabis wrote in a blog post.

During the initial phase, Hassabis will also act as CEO of Isomorphic, although the two firms will remain distinct and collaborate where appropriate.

Isomorphic Labs, situated in London, will focus on the most critical uses of AI in biological and medical research.

“…there may be a common underlying structure between biology and information science — an isomorphic mapping between the two — hence the name of the company,” Hassabis said.

The start-up wants to employ artificial intelligence to speed up medication discovery and, in the end, find treatments for some of humanity’s most deadly diseases.

“The pandemic has brought to the fore the vital work that brilliant scientists and clinicians do every day to understand and combat disease. We believe that the foundational use of cutting edge computational and AI methods can help scientists take their work to the next level, and massively accelerate the drug discovery process,” Hassabis said.

“As pioneers in the emerging field of ‘digital biology’, we look forward to helping usher in an amazingly productive new age of biomedical breakthroughs,” Hassabis noted.

The new firm also intends to collaborate with the biomedical and pharmaceutical industries to identify new medical breakthroughs by integrating artificial intelligence.

Dr Ravi Shankar – AI in the Agriculture

Allwyn Mathew

November 2, 2021

Dr Ravi Shankar has worked in analytics leadership roles for AMEX, BLACKSTONE, DELL, GE, PwC, and others and has over 30 years of diverse yet profound expertise in employing analytics-driven teaching consulting business & social impact across numerous sectors.

With a Doctoral degree in Econometrics from the prestigious Indian Agricultural Research Institute (IARI, New Delhi), Dr Shankar has taught at various institutes like UASB, IARI, IIMA, XIME. Currently, he is a Visiting Prof of AI-ML at CWRU, Carleton Univ, IIT-R, IFIM, INSOFE, and Praxis Business School. He also regularly conducts corporate learning programs for CXO’s in AI-Adoption, Design Thinking for Data Science, AI-driven Strategy & OB, and BFSI, Pharma & Manufacturing sectors.

Over three decades, Dr Shankar has mentored a slew of Agribusinesses and AgTech startups. Besides, he is actively involved in advising a handful of NFP’s in the rural livelihoods space, focusing on SDGs.

He is also a senior Venture Partner with an early-stage VC focusing on AgTech, InsurTech, and Social Impact space. His passion is in mentoring AgTech startups with a focus on smallholder sustainability.

He is a teacher, mentor, and advisor – all rolled into one. After three decades of corporate hum-drum, he has now gotten back to his first love – teaching & consulting. Outside of work, he is interested in golf, spirituality, and making up time for family.

Dr Shankar shares his expertise on AI in the agriculture sector with the readers of Business Review Live.

What made you include Artificial Intelligence in the Agriculture sector, and how do you think it will impact the sector?

The real test lies in ‘application” – one (AI) is the most exciting, disruptive & transformative digital technology & the other (agriculture) is an age-old profession. In India, it is a way of life where more than 60% of the population is directly or indirectly dependent on this sector.

In order to form an Integrated Digital Farm, the micro and macro farmers will need to be associated with technology. How do you think that will be possible in India?

There is much innovation happening in the public sector research space. However, the gap from “lab to land” needs to be bridged effectively. Here is where digital technologies that are affordable & accessible (in vernacular languages) come to the table. Agtech startups are one potent part of the solution. The agtech startup space is vibrant & thriving (despite the pandemic). The obvious enabler is the penetration of mobile technologies & internet accessibility along with tv.

Do you not think that Machine Learning may not be possible in all parts of the country (especially in the Farming sector)?

ML is only a means to an end. The comprehensive benefits of AI-ML can be leveraged only if mobile tech (5G) and internet penetration are universal. The digital divide is for real & we need to address this inequity on a war footing which the central govt is doing.

Also, replacing human systems with machines may lead to an increased unemployment rate. What is your take on this?

The irony is that labour scarcity is the most significant predicament in rural India. Wherever possible, we must supplement intelligent automation with human labour. The key is to upskill and reduce the cost of cultivation.

Is Machine Learning pro-customers or pro-farmers?

ML tech is neutral – like any other technology, it depends on how it is used / application. There will always be naysayers. However, we need human-centric AI-ML solutions that are ethical, responsible, affordable, accessible to rural India.

What role does digital agriculture play in transforming agriculture?

Digital agriculture has the potential to make agriculture more productive, more consistent, and use time and resources more efficiently. This brings critical advantages for farmers and broader social benefits around the world, and it also enables organisations to share information across traditional industry boundaries to open up new, disruptive opportunities.

How do institutes like ICAR-SAU, NFP, and CGIAR integrate all stakeholders and solution suppliers under one roof?

This is a million-dollar question. Various agri research institutes (State / National / International) currently collaborate via faculty / germplasm exchange programs. Also, there are collaborative research programs; however, there is a vast scope for improvement from a collaboration and cohesiveness perspective

Will the data that the company holds be a threat to the data providers? Won’t there be a fear of leaks?

Data privacy is a real issue. However, there are frameworks for data protection, anonymisation & encryption. It is up to the governments (State & Central) to frame and implement effective data protection laws so that the end consumer’s interests are not compromised. At the same time, without an open data access regime, digitalisation cannot realise its full potential. Therefore, good balance is the key.

Will Machine Learning prove to be an expensive method for startups?

Not really. Most AI-ML technologies are open source, and at scale, they are affordable

Can Artificial Intelligence predict the crops and the soil and the yields of farmland as efficiently as experienced farmers?

Yes & beyond. Essentially, AI-ML is data-driven; hence can beat human expertise any day given the significant advances & breakthroughs in the last decade

What can we point out as significant contrasts between a digitalised system and human operations?

While the former automates the process & renders it efficient & effective, the latter is slow, dependent on availability & skills, and consistency is a question mark

Machine learning, it is claimed, allows for the creation of a non-linear regression model for credit risk assessment. How?

Non-linear regression models offer greater accuracy & precision for credit risk assessment for the simple but fundamental reason that most relationships in the real world are non-linear. The premise of linear relationships amongst variables is far too simplistic and hence breaks down in real-world settings.

How effective is a classifier in assisting a loan applicant?

Pretty effective – I would like to rephrase the question. Machine learning techniques are effective (the degree depends on the quality of underlying data) in predicting a bank/lender loan applications. However, when it comes to a loan applicant, they have to improve CIBIL score constantly (by following credit best practices like repaying debts on time, not taking on multiple loans, trying to maintain a healthy mix of credit, not utilising your entire credit limit, increasing the credit limit, ensuring credit report is error-free and so on.)

How is it more accessible for lenders to easily apply algorithms that analyse consumer risk using machine learning (ML) models?

Most lenders these days do it by default. In India, for example, the top 10 public & private sector banks have data science capabilities. They use ml models to decision on analyse consumer risk using CIBIL score, past transaction history, and a multitude of other external variables.

What is an artificial neural network, and how does it work?

Simply put, an artificial neural network (ANN) is a part of a computing system designed to replicate the way the human brain analyses and processes information. It is the foundation of artificial intelligence and solves complex problems that humans or statistical standards would prove difficult or impossible.

ANNs are controlled by multiple nodes, which emulate biological neurons of the human brain. The neurons interact with each other, and they are connected by links. The nodes perform simple operations on the data based on the input data.

Then the result of these operations is forwarded to other neurons. The output of every node gives a value called a node or activation value. Each link is associated with weight. Anns are capable of constant learning, which takes place by altering weight values.

What methods does machine learning use to capture non-linear relationships?

Some examples include DECISION TREES, NAÏVE BAYES & KNN

What role can Orthomosaic image maps play in helping farmers plan and intervene more effectively?

They help in precision farming & drone mapping. The applications vary from assessing soil moisture to predicting crop yields to recommendations on inputs like fertiliser & chemical sprays (right quantity at the right time).

In agriculture, AI has revolutionised imaging analysis; how do they use AI to analyse yield estimation?

Deep learning models can perform pre-season and in-season predictions for different crops. Ai models use crop calendars, easy-to-obtain remote sensing data, and weather forecast information to provide accurate yield estimates. Other yield prediction models are CSM & NDVI models.

Would you like to add information that might prove to be step-by-step guidance for the implementers?

Keep it simple – follow Occam’s razor principle at all times. Solve the real world. Consider affordability, accessibility & scale. Technology is only an enabler.

“Define -develop-iterate-test-implement”. Use design thinking principles & agile framework for sure.

Electronics Mart India aims to set foot in AP, Telangana, and NCR

BRL Editor

November 1, 2021

As part of a pan-India strategy, Hyderabad-based consumer durables retailer Electronics Mart India Ltd, which operates the Bajaj Electronics network of stores, wants to strengthen its position in AP and Telangana after the IPO.

Last month, Electronics Mart India Ltd filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise Rs 500 crore through an IPO.

The company intends to spend Rs 134 crore on capital expenditure for retail and warehouse expansion, Rs 200 crore on working capital, and Rs 50 crore on debt repayment out of the total funds intended to be raised.

“Our company proposes to utilise a portion of the net proceeds of this issue amounting up to Rs 133.8 crore towards funding of capital expenditure for expansion and opening of our stores and warehouses in Telangana, AP and Delhi National Capital Region for an aggregate amount of up to Rs 44 crore, up to Rs 47 crore and up to Rs 43 crore, during the FY22, FY23 and FY24, respectively,” it said in the DRHP.

Wipro and Oracle offer tollway transportation and billing solution

BRL Editor

October 29, 2021

In collaboration with Oracle, Wipro released the Wipro Tollway Transportation and Billing solution today to improve the commuter experience while increasing tollway authority profitability.

An integrated enterprise resource planning (ERP) system is the solution. Customer portals, commercial and operational back-office modules, financial systems, toll-tag accounts, and third-party payment gateways are all part of the platform.

From the move to cashless operations and predicted shifts in traffic patterns to operational inefficiencies and shifting customer expectations, tollway authorities face numerous problems posed by changing market dynamics. However, Wipro claims that by harnessing data-driven insights and maintaining a 360-degree view, tollway authority can improve customer experience across touchpoints.

“Today’s commuters expect everything to be digitized, and that tolling authorities will leverage technology to make their journey as smooth as possible. Our ‘Tollway Transportation & Billing’ solution supports multiple modes of payment and delivers a better overall commuter experience while helping authorities increase productivity of their customer care operations and optimize costs,” said Harish Dwarkanhalli president – applications and data, iDEAS, Wipro Limited.

The solution facilitates customer account management, transaction processing, grievance case management, transponder inventory management, and financial reconciliation and reporting for tollway authorities. As a result, authorities can improve operational efficiency and plug income leakages by streamlining these processes.

“Together, Wipro and Oracle are helping tollway authorities solve real-world problems and meet the demands of an increasingly dynamic commuter market. By leveraging Oracle Advertising and Customer Experience Cloud, Oracle Financials Cloud, and Oracle Utilities Customer Care and Billing, this solution helps tollway authorities scale-up effortlessly and further increase their return on investment,” said Keith Rajecki, VP-Oracle Public Sector, Education and Research.

Oracle has designated Wipro as a Modernized Oracle Partner Network (OPN) registered partner. Oracle Partner Network is a channel partner network that offers tools and advantages to value-added resellers, independent software providers, and other companies interested in working with Oracle. As a result, Indian IT businesses drive incremental market share gains across new business categories and digital transformation projects in various methods, including partnerships with global technology providers.

Big Basket launches first brick-and-mortar store in Bengaluru

BRL Editor

October 29, 2021

BigBasket, an online grocery retailer, has opened its first brick-and-mortar store in Bengaluru, with plans to expand the number of such locations swiftly.

According to sources, the outlets will be known as ‘Fresho.’ Big Basket’s private label brand, ‘Fresho,’ is utilised to sell products across a variety of food categories on its platform. The initiative is the e-first grocer’s foray into the omni-channel market, which is dominated by Reliance Retail and others.

The Tata Group-backed company’s initiative comes as other digital competitors that began with delivery, such as Swiggy and Dunzo, are now increasing the ante by opening dark storefronts to fulfil grocery purchases in a hyperlocal play. An e-commerce company’s dark store is a location where online orders are fulfilled.

Reliance Retail, which also owns JioMart, debuted its premium grocery store concept Freshpik in Mumbai earlier this month.

Sources say the Fresho outlets could also be utilised for order fulfilment, though a Tata Group representative declined to comment for this story.

According to a recent analysis by Kearney, India’s e-grocery sector is likely to be attractive over the next several years, with e-commerce expected to account for more than 25% of the growth in the organised grocery category.

Livspace seeks to expand across the Middle East

BRL Editor

October 25, 2021

According to a senior corporate executive, omnichannel home interior platform Livspace is expanding to the Middle East, starting with Saudi Arabia. It has signed a joint venture with the Alsulaiman Group (ASG).

In the joint venture with ASG, the operating partner of Swedish furnishings retailer Ikea in the region, the business would invest $25 million (Rs 187.5 crore).

“ASG gets customer insights and supply-chain solutions to the JV while we bring our product and execution capabilities,” Livspace cofounder Ramakant Sharma told ET. It is expecting healthy revenue from the home interiors and renovation segments in Saudi Arabia.

Expansion into new markets abroad, more non-metro and smaller cities within India, and improved unit economics will drive the company’s growth over the next year to year-and-a-half, according to Sharma, who is also the company’s chief operating officer.

“Within the GCC (Gulf Cooperation Council), we intend to expand to another six to seven cities. It is a $15 billion worth of total addressable market that we are chasing,” Sharma said.

Sharma estimates that the company’s current revenue run-rate is roughly $175-180 million and that it will increase to $300-350 million in the next two years.

Currently, the organisation is operating in India and Southeast Asian regions such as Singapore.

“We are trying to build a truly global company out of India with almost 20% of our new sales coming in from markets outside of India,” Sharma said.

The company generated $225 million in new sales for the fiscal year ending March 31, 2020. “We expect new sales to be around $650-700 million over the next 24 months,” Sharma added.

Livspace claims to be the most extensive omnichannel home interior and renovation platform today, founded in 2014 by Sharma and Anuj Srivastava. It has provided over 100,000 rooms and has over 7.5 million products for sale in its marketplace.

Livspace provides interior design, execution, remodelling services, material supply, and home fit-out aspects. Mobile applications, artificial intelligence, machine learning, and visualisation solutions for the home renovation business are also priorities.

Bengaluru, Delhi, Noida, Gurgaon, Mumbai, Thane, Pune, Hyderabad, Ahmedabad, Kolkata, Kochi, Jaipur, and Chennai are among Livspace’s 13 metro and non-metro locations in India.

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