New Delhi [India], May 8: In a literary journey marked by twists, turns, and unwavering determination, debut author Simran Dudeja unveils her first book, ‘Like A Summer Song,’ a poignant coming-of-age novel that navigates the intricacies of life, love, and self-discovery.
Simran is a fresh voice in the literary scene who commenced her debut work during the challenging days of the 2020 lockdown. She found solace in writing, she started the initial drafts of “Like A Summer Song” weaving together a whirlwind of emotions and experiences.
Initially set to publish her work in 2021 with a renowned publisher, Simran faced a heartbreaking setback due to creative differences. She momentarily set aside her literary aspirations, embracing 2022 as a year of travel and a pivot in her corporate career from management consulting with BCG to product marketing in tech startups. In 2023, she returned to her manuscript, rewriting sections and initiating conversations with publishers anew. The journey led her to NuVoice Press, guided by her earlier connections within the writing community, including Hubhawks, Kevin, and Vini.
Her path to publication wasn’t without hurdles, she faced a couple of rejections, but she embraced each one as a redirection rather than a setback. The theme of destiny, a prominent theme in her book, mirrored in real life with her unwavering belief in her calling despite obstacles.
Managing a flourishing corporate career alongside her literary pursuits posed its challenges. Weekends became dedicated writing havens, with some nights transitioning seamlessly from creating presentations for her day job to the creation of captivating prose until midnight. Writing trips, and occasional getaways to scenic locations, provided her with the mental clarity needed for creative exploration while striving for success professionally.
As “Like A Summer Song” finds its space on the shelves and readers’ hearts, Simran is already immersed in her next project, a manuscript delving into the complexities of modern dating, evolving dynamics in relationships, and the pressures faced by today’s women in their pursuit of love and self-discovery.
She aspires to redefine contemporary Indian romance, blend poetry with prose, craft authentic characters, and cater to the Instagram generation craving genuine connections and vulnerability in real life.
“Like a Summer Song” is a book that will tug at your heartstrings, make you reflect on your own journey, and leave you feeling like you just had a cup of hot chocolate in cold weather. Simran’s ability to capture the complexity of human emotions and her skilful storytelling make this debut novel a must-read.
Simran Dudeja is a storyteller and poet who has debuted in the literary scene with her coming of age romance, Like A Summer Song in collaboration with Nu Voice Press. She is an Engineer turned Marketer with diverse corporate experience across Management Consulting and Product Marketing.
Simran is also a Spoken Word poet, a Mental health advocate, and a passionate yoga enthusiast. She talks about books, poetry, spirituality, wellness, growth mindset, and various other concepts that catch her fancy.
This article has been contributed by Vivek Gujar, Director, IndoAI Technologies P Ltd.
One of few innovations today which gathered attention and interest is AI facial recognition. From empowering marginalized communities to revolutionizing essential services, the applications of this breakthrough technology are as diverse as its impact. This technology involves artificial intelligence and biometrics, and holds promise for a wide range of applications, from improving security measures to revolutionizing the customer experience. However, alongside its transformative potential, AI facial recognition raises significant ethical considerations that require careful consideration and proactive safeguards.
The Technology: It uses advanced algorithms to analyze and interpret facial features from digital images or video streams. This technology identifies unique facial attributes such as contour, proportion: extract and interpret distinctive facial features such as the distance between the eyes, the shape of the nose, blinking & smile ( liveness factor) and the contour of the jaw and texture by using deep learning models, specifically convolutional neural networks (CNN). Through iterative training on massive datasets, the accuracy of these algorithms continues to improve, enabling accurate facial recognition and verification capabilities.
Law Enforcement: AI facial recognition can help identify suspects, locate missing persons, mob moods and prevent criminal activity.
Border Control: Airports and border crossings use this technology to enhance security measures and streamline immigration procedures.
Critical Infrastructure: Facial recognition process can streamline visitor management for Government building, defence establishment, etc.
Personalization and Customer Experience:
Retail: Retailers are using AI facial recognition to analyze customer demographics and preferences, provide customized product recommendations and improve the shopping experience.
Hospitality: Hotels and entertainment venues are using facial recognition for faster check-in, personalized service and increased guest satisfaction.
Public Safety and Health Care:
Contact Tracing: During pandemics and outbreaks, facial recognition helps with contact tracing and identifies people who may have been exposed to an infectious disease.
Access Control: Hospitals, healthcare facilities, pharma, etc use facial recognition for secure access control to ensure restricted areas are protected.
Applications in Key Sectors
Financial Inclusion at the Bottom of the Pyramid (BoP):
Access to Banking Services for the BoP: AI facial recognition simplifies the bank account opening process for BoP individuals and facilitates extensive documentation.
Microfinance: Optimizing loan applications through facial recognition helps people access loans faster, pursue entrepreneurial ventures, and improve their livelihoods.
Access to Healthcare and Telemedicine
Access to Healthcare in Rural Areas: Doctors with the help of Facial recognition technology remotely monitor patients in rural health centers to ensure timely intervention and identify needed Improve access to health services.
Telemedicine: Facial recognition improves security during virtual visits and makes telemedicine platforms more accessible and efficient for remote communities.
Education
Access to online learning: Facial recognition technology ensures secure access to digital learning platforms, closing educational gaps and providing equal learning opportunities.
Attendance Tracking: Facial recognition reduces administrative burden and increases efficiency by simplifying attendance tracking in schools with limited infrastructure. A group photo of a class in a second can save several hours of roll call.
Agriculture and Rural Development
Fair Trade Practices: Facial recognition verifies farmers’ identities at collection points, ensuring fair prices for agricultural products and increasing transparency in trade practices.
Crop Seed Distribution: AI facial recognition assists in crop seed distribution and provides valuable insights into weather conditions to sustainably optimize crop yields.
Social Distribution
Direct Benefit Transfer (DBT): Facial recognition can verify the identity of beneficiaries during the distribution of social assistance benefits, reducing losses and ensuring effective use of government initiatives.
Public Distribution System: Facial data may be key to getting access to essential items such as rice under the public distribution system (PDS).
Facial Recognition Market Size Worldwide from 2019 to 2032
Employment and Skills
Job Matching: Facial recognition accelerates the employment process by matching BoP job seekers with suitable employment opportunities based on their skills and qualifications, thereby increasing economic empowerment and self-employment.
Women’s Safety and Empowerment
Safety App: Smartphone app with facial recognition technology makes women safer by issuing emergency alerts in stressful situations, providing immediate assistance, and promoting empowerment.
Access to Government Services
Facilitate Government Services: Facial recognition simplifies the authentication process at local e-government centers, allowing seamless access to government programs, land records, and important certificates. eKYC through Facial Recognition helps Senior citizens in pension, health benefits, etc. Government can keep accurate tab of orphans, special people, senior citizens of old age homes.
Disaster Relief: Identification and Aid Distribution: During natural disasters, facial recognition allows authorities to quickly identify victims and efficiently distribute aid, ensuring rapid aid to those in need.
Ethical considerations are paramount
AI facial recognition has great potential, but its widespread use raises significant ethical concerns that require careful consideration and improvement strategies:
Privacy and Data Security:
Consent: In the wake of DPDP act, users must be fully informed about what is collected. The storage and use of facial data is subject to explicit consent for each application. The ongoing deepfakes worldwide is worth mention here.
Data Protection: Robust encryption protocols and strict access controls are essential to protect facial data from unauthorized access and potential misuse.
Bias and Discrimination:
Algorithmic Bias: Facial recognition algorithms can exhibit biases that lead to inaccurate identification or disproportionate targeting of certain demographic groups.
Fairness and Justice: Developers must prioritize fairness and justice in data collection and algorithm design to reduce the risk of perpetuating social bias.
Surveillance and Civil Liberties:
Mass Surveillance: The widespread use of facial recognition for surveillance purposes raises concerns about the impact on individual privacy and civil liberties.
Regulatory Oversight: Clear regulatory and oversight mechanisms are essential to ensure responsible deployment and use of AI facial recognition systems.
Navigating the complex landscape of AI facial recognition requires a fine balance between upholding ethical principles and protecting fundamental rights while harnessing the transformative potential of technology is need today. Technologists, policymakers, ethicists, and citizens need to help AI facial recognition become a force for positive change, shaping a future that promotes safety, efficiency and inclusion while respecting individual autonomy and dignity. Through thoughtful debate with society’s cooperation, transparent governance and ethical responsibility, this technology is for progress and prosperity based on principles of justice, equity and respect for human rights.
Following a “scrutiny” of “select NBFC-P2P companies” from June to September 2023, the Reserve Bank of India (RBI) discovered “multiple violations” of the regulations established in October 2017, when the licensing standards were published, to welcome these companies to the Indian financial market.
It was preceded by the RBI’s March 2016 release of the initial P2P lending draft for stakeholder comment. In addition to meeting the criteria for being “fit and proper” to operate P2P platforms, a minimum of around 2 crore net-owned money is required according to the licensing standards.
Although not all of the approximately 25 licenses issued by the RBI have gone live, some of them have. Approximately one-third of the fifteen entities that went live have now gone dark. According to analysts, the industry’s outstanding loan book is estimated to be over 6,000 crore, and four companies control more than 90% of the market.
A loan of approximately 10 lakhs could be made at the outset. The amount increased to over 50 lakhs in December 2019. Through P2P platforms, a lender can distribute this funding to numerous borrowers. But regardless of how many lenders there are, a borrower cannot receive more than ~10 lakh. The maximum amount that a lender can lose due to a single borrower is around $50,000. (A minimum of 20 lenders are required in the event that a borrower requests ~10 lakh.)
Platforms that facilitate peer-to-peer (P2P) lending allow users to pool their savings in escrow accounts and then lend those funds to other users or small businesses without requiring collateral.
Lenders can access their money before loans are fully processed on P2P platforms. This implies that over the remaining time of the loan, a different lender will take over for the first one, without the lenders on the platform having to say anything. The “deposit-taking” feature of these NBFC-P2Ps is the root cause of loan replacement.
Loan contracts on the platform must be signed by both the lender and the borrower in accordance with RBI regulations. But instead of that, platforms are only giving out loans to people who have lenders’ whole approval. The standards for licensing are being violated here.
The standards that control the transfer of money are another source of worry. In order to reinvest the funds, these platforms are moving the repayments from the borrower’s escrow accounts to the lenders’ escrow accounts. Repayment funds must be sent from the borrower’s escrow account to the bank account of the lender.
P2P platforms have been issued a stern warning by the RBI, urging them to immediately cease these actions. They risk regulatory and supervisory measures if they do not.
Number of Peer to Peer Non Banking Financial Companies in India as of January 2022, by City
Industry Adopting a ‘Wait and Watch’ Policy
P2P Lending Platforms
The official explained that new alliances take substantial time, technological, and legal resources to be integrated, thus the industry is simply taking a “wait and watch” approach rather than rapidly expanding.
Liquiloans has partnered with a number of prominent P2P lenders, including Cred, Avail Finance, Uni, and BharatPe; LenDen Club has partnered with PhonePe, Karza, and BharatPe. The general pace of business has decreased, even though partnerships are still continuing. Since October, corporations have been consistently engaging with the RBI, therefore experts do not see this trend continuing.
During an occasion, RBI deputy governor M. Rajeshwar Rao reportedly stated that NBFC-P2Ps’ actions did not seem to comply with regulatory norms. The majority of the lenders on these sites probably don’t have the training or education to properly assess the dangers of lending money.
While the RBI first published comprehensive rules for the market in 2017, 2019 saw the introduction of certain updates to those rules. However, the central bank has been providing platforms with guidance on several aspects of compliance over the past 12 to 18 months.
The Department of Regulation at RBI has been approached by these businesses to clarify several important matters. A decision on these practices is also required by the Department of Supervision.
The peer-to-peer lending market is currently valued at an estimated 7,000–8,000 crore rupees. About twenty P2P licensing systems can be found in India. They are all NBFCs that have registered with the RBI.
Payouts, processing fees, and platform fees all contribute to the platforms’ bottom lines. The maximum amount that a lender can put on a platform is Rs 50 lakh. One borrower is limited to an investment of no more than Rs 50,000.
At no point in time should a borrower’s total loan amount exceed Rs 10 lakh. This loan has a maximum maturity term of 36 months. An annual interest rate of 36% is charged by some sites.
The Reserve Bank of India’s intensified scrutiny of NBFC-P2P companies has revealed multiple violations of established regulations, including issues with loan processing, fund transfers, and compliance with licensing standards.
Despite partnerships and engagement with the RBI, concerns persist regarding the industry’s compliance and operational practices. The conclusion underscores the need for stringent regulatory oversight and enhanced industry compliance to sustain the integrity and stability of the P2P lending market in India.
FAQs
Which is the largest P2P lending platform in the world?
Lending Club is the world’s largest P2P platform.
Is P2P lending legal in India?
Yes, P2P lending is completely legal and fully regulated by RBI in India.
Which P2P lending is best in India?
Some of the most popular P2P lending platforms in India are LenDenClub, Faircent, Lendbox, etc.
This article has been contributed by Atul Kumthekar, Co-Founder, 3-F Software – a Design Thinking Company.
The use of artificial intelligence in various fields is increasing day by day. In this context, the supply chain does not fall behind. The supply chain is simply a distribution network that connects brands and consumers through distributors. In this article, let’s learn more about what a supply chain is, areas where AI can be used in the supply chain, how AI can be useful in enhancing the supply chain, and more.
If you are a living being, you are part of some supply chain! There is no escaping! Essentially it is a distribution network. From Brand to Consumers via Distributors Products and goods move from Brand to Consumer and Money flows in the reverse order. This is the best simplistic definition of supply chain that I have ever come across.
This brings in a lot of complexities and the challenges thereby. Complexity is at multiple levels and scale because of various challenges:
Scale and affordability at various layers mean plethora of different solutions used from start to end. From excel sheet to SAP like expensive ERP
International nature of today’s world
Prediction of demand to meet supply in time
Management of unsold in case of retail chain
Inventory management at various levels
Supply Chain Management
Problem And Approach So Far
Various integrations and APIs helped intercommunication between Tally like software to SAP and Excel both People have addressed various issues using the latest technologies of the day. Blockchain being a recent example especially for global trade. The blockchain technology proved that the documentation time saving is possible and also that assurance of quality and source can be guaranteed beyond doubt.
But these technologies and solutions did not address more complex problems like demand predicting, analyzing vast data.
Now Artificial Intelligence is the new kid in town to help ease out these complexities a bit!
Areas Where Ai Be Used In Supply Chain?
Now that we know what was possible so far and some clue to unsolved problems, let us look into the problem areas little more closely. I got following response when I enquired on ChatGPT which was pretty accurate! So, I am going to reproduce the same with my elaborations on interesting ones –
Demand Forecasting: AI algorithms can analyze historical data, market trends, weather patterns, and other variables to predict demand more accurately. This helps in optimizing inventory levels and reducing stockouts or overstock situations.
Inventory Management: AI-driven systems can optimize inventory levels by analyzing factors like lead times, demand variability, and supplier performance. This ensures that inventory is maintained at optimal levels, reducing carrying costs while ensuring products are available when needed.
Route Optimization: AI algorithms can optimize delivery routes considering factors like traffic patterns, weather conditions, and delivery windows. This reduces transportation costs, improves delivery times, and minimizes fuel consumption.
Supplier Relationship Management: AI can analyze supplier performance data to identify trends, assess risk, and predict supplier behaviour. This helps in making informed decisions about supplier selection, negotiation, and risk management.
Warehouse Management: AI-powered systems can optimize warehouse operations by automating tasks such as picking, packing, and sorting. This improves efficiency, reduces errors, and lowers operational costs.
Quality Control: AI can analyze sensor data and visual inspections to detect defects in products or packaging. This ensures that only high-quality products are shipped, reducing returns and improving customer satisfaction.
Supply Chain Visibility: AI can provide real-time insights into the entire supply chain, allowing businesses to track inventory levels, monitor supplier performance, and identify potential bottlenecks or disruptions.
Predictive Maintenance: AI can analyze equipment sensor data to predict when maintenance is needed, reducing downtime and preventing costly equipment failures.
Risk Management: AI can analyze various risk factors such as geopolitical events, natural disasters, and supplier financial stability to identify potential risks to the supply chain. This enables businesses to develop contingency plans and mitigate risks proactively.
Sustainability: AI can optimize supply chain processes to minimize environmental impact, such as reducing carbon emissions through optimized transportation routes or minimizing waste through better inventory management.
But before I add my elaborations let us peek a bit into what are typical AI techniques
What Is Ai From Technological Standpoint?
The word artificial intelligence typically deals with large data. I used to mock AI saying this is our Ajji’s (Grandmother’s) wisdom! What a person gathers over years or our ancient culture have already noted down. But that’s more or less about how humans behave, individually Vs in masses. But let’s not divert there!! May be in some other blog
It is impossible to make ANY sense out of the vast data that is flowing in today. The producing brands (Manufacturers) need to listen to those in a meaningful way, in order to save any costs and time. You can employ men (and women) power in all the countries you deal with. That is one possible solution. But then there is issue of miscreants and malicious feeds. And even any number of these will not match the scale and capability of technology today. So why not technology, if that is one way?
The AI basically started with machine learning which rests heavily on statistics. Let’s say you have an excel sheet of student’s marks. And you want to know the distribution. Most likely you will get a Gaussian curve. Meaning most students near about average and few below and few above, the curve tapering down both directions. This is understandable.
Gaussian Curves Example
But now consider the problem – can I find out if students have copied? I will leave this problem to you and get back to me on any thoughts!
Ah ha! Welcome to machine learning.
A typical approach in machine learning is give enough sample data, ask the algorithm to understand the pattern and apply this learning to test data and judge the output and then think about improving output. Yes, you probably have guessed it right, that the output is probabilistic. You need to get comfortable with this! (And we are not going to quantum mechanics as yet)
The above paragraph is the essence of Artificial Intelligence. The major differential between machine learning and AI started emerging with Large Language Models (LLM) which started putting chatGPT like tools into public hands. How do they work? Are they the advanced versions of Google search? Well, basically they can address much much much more parameters to analyze. From few hundreds to millions! That is amazing. Even our brains may not be doing so. Take a look at Hugging Face and you will get the picture. The company started with chatbot application and with multiple rounds of funding reached at LLM models. And if you care to read “Attention is all you need” mentioned in references at the end, you will need to look at Transformer architecture (see diagram below)
With this, let’s get back to Supply chain problems.
How Can Ai Be Useful In Supply Chain?
Let us look at some of the problems mention in the earlier section (“Areas where AI be used in supply chain?”).
Demand Forecasting is definitely the one. This is not humanely possibly and achievable by employing any number of employees in any number of countries. Will LLM be useful here? Definitely. This is because it fits into the criteria of what LLM kind of models can work on. Basically, millions of parameters.
Inventory Management is related to Demand Forecasting. For a big brand, it is not just about warehouse but localized inventory to supply quickly to local market. You may have seen Duzo like B2C supplier having small storage locations nearby your area with many biker riders picking things from there and delivering in 10 minutes! What inventory to maintain at such local locations can be better judged only by AI models.
Route Optimization a well-known problem in industrial engineering and operations research (Traveling salesman problem) The solution to this was once modelled as Simplex algorithm (Narendra Karmarkar) The large parametrization that is possible with LLM models will throw and interesting solutioning scenarios of solving this problem.
Supplier Relationship Management also known as CRM (Customer Relationship Management) is an important area where sales and support are managed. Salesforce the world leader in this domain is funding good amounts for the growth in Artificial Intelligence and LLM (Large Language Models). Pretty soon we will see a day to day usable output from these efforts.
Quality Control is an important area. During Covid days, this gained importance and quality people could not reach work location. The usual technique was to deploy cameras, send images which could be checked using AI with possible false positives but reducing the overall load. Radiology is one good example where this is used today.
Predictive Maintenance is also undergoing big impact due to AI. More the historical data, better is the prediction and preventive measures, which save bigtime in repairs cost. You can send your support technicians for preventive maintenance in time than to fix things! I had personally developed and delivered an IOT solution for X-ray manufacturer to send technician based on number of X-rays taken instead of earlier method of end of year. No AI but you can sense where the next step could be!
Having seen all this, you must have realized that AI is not a magic wand. Also, it is not an overnight solution. One needs to select an existing model, if not develop a new one, then customize it, play with it and most importantly mature it to predict better and better. All this happens asymptotically. Meaning the gap between actual solution and reality will keep reducing slowly but surely. Keep in mind the dynamics of reality is also dynamic! So, something that worked well may not work equally well in future.
More importantly…
All AI solution providers stress importance of human touch. The solution needs to be looked at from human perspective. This means that the output is not harmful to certain section of community, or simply very negative etc. And even in this space there are tools and datasets evolving to improve solution from this perspective.
Sports performance analysis and management have undergone a profound transformation in recent years, thanks to relentless advancements in technology.
Artificial Intelligence (AI) and data analytics have become game-changers, offering a plethora of advantages to the sports industry. The ability to harness real-time data through sensors, wearables, and tracking devices has empowered teams to delve deep into player performance metrics like never before.
Imagine a world where every move, every heartbeat, every step is meticulously analyzed to unlock the secrets of peak athletic prowess.
Let’s explore how AI and data analytics are reshaping the landscape of sports performance analysis and management, paving the way for a new era of excellence.
AI and Data Analytics in Sports Performance Analysis
In the realm of sports performance analysis, Artificial Intelligence (AI) stands as a formidable force, revolutionizing the way teams evaluate and enhance player capabilities. Through sophisticated algorithms and machine learning techniques, coaches and analysts can now dissect vast troves of data, extracting invaluable insights that were once out of reach. This data-driven approach empowers decision-makers to craft more informed strategies, optimizing training regimens, game plans, and player development with pinpoint precision.
Harnessing the Potential of Data Analytics
The fusion of AI and data analytics has ushered in a new era of sports analysis, where performance evaluation transcends conventional boundaries. By tapping into a rich tapestry of player data, coaches and analysts can unravel intricate patterns and trends, shedding light on areas for improvement and avenues for growth. Armed with this wealth of information, teams can fine-tune their approaches, refine their tactical acumen, and propel their athletes to new heights of excellence.
“We emphasize leveraging cutting-edge technologies such as AI, Machine Learning, and computer vision to introduce features like automated scoring, game highlights, and professional-level statistics, which were traditionally accessible only to top-tier athletes. These innovations enhance the player’s physical capabilities and democratize high-tech sports analytics, making these advanced toold available at the grassroots level,” Game Theory Founder and CEO Sudeep Kulkarni told StartupTalky. Game Theory is sportech startup that is making sports accessible to all age groups.programs
Delving into Real-time Data Insights
One of the standout advantages of AI and data analytics in sports lies in the ability to capture and analyze real-time data streams. From sensors and wearables to tracking devices, teams can monitor a myriad of player metrics instantaneously, from speed and distance covered to heart rate and biomechanical movements. This real-time analysis empowers coaches and analysts to make on-the-fly adjustments, optimizing performance and mitigating injury risks in the heat of competition.
Applications of AI in Sports
Redefining Performance Enhancement Strategies
With the advent of AI, the landscape of performance enhancement and injury prevention in sports has undergone a monumental shift. By vigilantly tracking player metrics, coaches can pinpoint indicators of fatigue, overexertion, and injury susceptibility, enabling proactive interventions to safeguard athlete well-being. Moreover, AI algorithms can forecast injury probabilities based on historical data, allowing teams to preemptively address potential risks.
“AI performance tracking software provides unbiased data collection, aggregation and performance analysis. It can also be utilised to study an opponent and build strategies to exploit the opponents weakness and maximise the chances of success. AI has also been used to judge the performances of athletes. For eg. The AI-powered Judging Support System (JSS) was used in the 2023 Gymnastics World Championships. AI performance tracking can also help in injury prevention and recovery monitoring,” Tagglabs Founder Hariom Seth told StartupTalky.
Tagglabs is a startup focused on inventions in new media and technology for marketing and communications. “At present AI is used to engage fans of Indian sports teams. We too used AI to generate personalized, shareable videos for fans featuring top cricketers for Seagram’s Royal stag,” Seth said.
Royal Stag | A Billion Films For A Billion Fans
Tagglabs has been serving clients–Vodafone, Kingfisher, Nike, LG, Samsung, BMW, Audi, Volkswagen, Honda, Hyundai, Tata Motors, and Times Group–with the latest AI techniques. It crafted a video experience for ICC Men’s Cricket World Cup 2023 using AI and boAt.
Real-time Data Collection and Analysis
Real-time data collection and analysis have become indispensable tools for teams seeking a competitive edge. The ability to gather and analyze vast amounts of data in real-time has revolutionized how teams evaluate and improve player performance, leading to more informed decision-making and enhanced training strategies.
“The rise of OTT platforms has provided unprecedented access on demand to sports content that would otherwise not be telecasted on linear TV due to limited availability of slots. With scope for hosting live matches, highlights, as well as exclusive content on OTT platforms, sports with lower visibility have an opportunity to enrich their engagement with audiences. AI-driven features can further empower sports organizations to deliver immersive content that enhances fan engagement and transforms the viewing experience,” Stupa Sports Analytics CEO and co-founder Megha Gambhir told StartupTalky.
Stupa Sports Analytics modernizes sports with its AI and tech-driven solutions, benefiting players, fans, federations, and rights-holders, said Gambhir. “The AI tech curates highlights and reels for federations and players, opening up new monetization avenues.”
Sensors, wearables, and tracking devices play a crucial role in the real-time data collection process, providing valuable insights into various aspects of player performance such as speed, distance covered, heart rate, and biomechanical movements.
Continuous monitoring of player metrics through these technologies allows coaches and analysts to make immediate adjustments to training and game strategies, optimizing performance and reducing the risk of injuries.
The real-time analysis of data enables proactive interventions, such as adjusting training loads, implementing recovery protocols, and modifying playing time, to enhance performance enhancement and injury prevention strategies.
“Real time data collection provides instant feedback to coaches and players during training sessions and matches. It allows for quick adjustments in tactics and strategies based on real-time insights. It enhances the overall spectator experience by providing engaging real-time statistics and analysis,” Jatin Paranjape, former Indian cricketer turned sports entrepreneur, shared with StartupTalky. Paranjape is a CEO and founder of KheloMore.
KheloMore is a digital platform that unites aspiring young athletes with coaches and academies, facilitating exceptional offline performance opportunities.
By harnessing the power of real-time data collection and analysis, teams can pinpoint areas of improvement and tailor training strategies for optimal results. The seamless integration of AI algorithms into the decision-making process empowers teams to make informed choices that prioritize player well-being and performance excellence.
Data-driven insights pave the way for customized training programs that address individual player needs and optimize overall team performance. By analyzing biomechanical movements and physiological measurements, coaches can identify patterns that may lead to inefficiencies or injury risks. The combination of real-time data analysis and personalized coaching strategies sets the stage for a new era of sports performance enhancement, where every decision is rooted in data-driven precision.
Through the strategic application of AI and data analytics, teams can create a culture of injury prevention that fosters sustained performance excellence and longevity in athletes.
By simulating different game scenarios and predicting the effectiveness of various strategies, coaches can make informed decisions in real time, giving their team a competitive edge on the field. The fusion of technology and strategy reshapes the landscape of sports, propelling teams toward success through intelligent decision-making.
“Technology empowers young athletes and coaches by democratizing access to pro-level analysis and tools. This approach helps nurture grassroots talent and instill a sense of competitiveness by providing insights that were traditionally available only to top-tier athletes. Coaches can use this data to tailor training programs more effectively, monitor athletes’ progress in real-time, and make data-driven decisions that enhance performance outcomes,” Kulkarni commented.
The marriage of cutting-edge technology and athletic prowess propels teams towards peak performance, setting new standards of achievement and innovation in the dynamic world of sports.
Global Sports Analytics Market
Tactical Analysis and Game Planning
Coaches and analysts now have access to a treasure trove of historical game footage and player performance data, allowing them to uncover intricate patterns and trends that were previously hidden. This innovative approach enables coaches to identify specific player tendencies, exploit opponent weaknesses, and optimize their team’s performance to achieve victory on the field.
Moreover, the power of AI and data analytics extends to simulating different game scenarios and predicting the effectiveness of various strategies. Through sophisticated algorithms, coaches gain valuable foresight into the potential outcomes of their decisions during matches, equipping them with a strategic edge over the competition. This forward-thinking approach to game planning not only enhances performance but also fosters a culture of continuous improvement and strategic innovation within sports teams.
By integrating data-driven insights into their decision-making process, coaches can optimize player positioning, refine tactical approaches, and instill a winning mindset in their teams. This meticulous attention to detail and strategic finesse set the stage for a revolution in sports performance analysis, where data reigns supreme in shaping the future of competition.
By harnessing the power of technology to decipher complex patterns and optimize strategic decisions, coaches and teams can unlock a new realm of competitive advantage and performance excellence. This data-driven approach not only enhances team performance but also elevates the overall spectator experience by showcasing the artistry and precision of strategic gameplay.
Talent Identification and Recruitment
In addition to enhancing on-field performance, AI and data analytics have also revolutionized talent identification and recruitment in sports. Teams can now leverage advanced algorithms to sift through massive amounts of data to pinpoint potential future stars. By analyzing player statistics, movement patterns, and even social media activity, organizations can make more informed decisions when scouting for new talent.
Conclusion
In conclusion, the integration of AI and data analytics in sports performance analysis and management has ushered in a new era of precision and innovation. The ability to gather and analyze real-time data has provided teams with unprecedented insights into player performance, leading to enhanced training programs, injury prevention strategies, and tactical game planning.
With the power of AI at their fingertips, sports organizations are better equipped to identify and recruit top talent, ultimately shaping the future of sports as we know it. As technology continues to evolve, the possibilities for further advancements in the sports industry are truly limitless.
FAQs
What is the role of technology in sports performance analysis and management?
Technology, particularly Artificial Intelligence (AI) and data analytics, has revolutionized the way sports performance is analyzed and managed. It allows teams to gather and analyze vast amounts of real-time data on various aspects of player performance, ultimately leading to improved outcomes.
How does AI and data analytics benefit sports teams?
AI and data analytics enable teams to collect data on player performance metrics such as speed, distance covered, heart rate, and biomechanical movements. This information helps in enhancing performance, preventing injuries, strategizing game plans, and identifying and recruiting talent effectively.
How does real-time data collection and analysis impact sports performance?
Real-time data collection and analysis through sensors, wearables, and tracking devices provide teams with immediate insights into player performance. This allows for quick adjustments during training sessions and games, leading to better decision-making and overall performance improvement.
What are some key areas where AI and data analytics are utilized in sports?
AI and data analytics are commonly used in sports for performance enhancement, injury prevention, tactical analysis, game planning, and talent identification and recruitment. These technologies have become essential tools for teams looking to gain a competitive edge in today’s sports landscape.
This article has been contributed by Dr. Sravani Reddy G, Founder & CEO, Soprav Health Consulting.
AI is fundamentally transforming the healthcare industry by revolutionizing various aspects of patient care, diagnosis, treatment, and administrative processes. Through the utilization of advanced algorithms and machine learning techniques, AI enables healthcare providers to analyze vast amounts of data quickly and accurately, leading to improved clinical decision-making. Additionally, AI-powered technologies enhance efficiency in tasks such as medical imaging interpretation, predictive analytics for disease prevention, personalized treatment planning, and drug discovery. Moreover, AI-driven solutions streamline administrative tasks, optimize workflows, and reduce healthcare costs. Overall, AI is catalyzing a paradigm shift in healthcare, driving innovation, improving patient outcomes, and enhancing the overall quality and accessibility of healthcare services.
The vast realm of artificial intelligence (AI) is rapidly evolving, pushing boundaries, and revolutionizing healthcare. Recent advancements, including improved access to extensive health data, faster computer processing, a growing pool of AI experts, and accessible AI tools, are seamlessly integrating AI into modern healthcare. Despite initial hesitancy, the healthcare sector is embracing AI to address workforce shortages, meet patient expectations, and leverage technological innovations.
However, the healthcare sector has traditionally been slow to embrace such technology and it is essential to acknowledge that we are still in the early stages of this journey, with much ground left to cover. Some of the concerns surrounding involve:
Managing the Intricacies of Healthcare Data
While access to patient information has improved, AI integration faces a significant hurdle due to the intricacies and complexities of healthcare data. Unlike sectors with abundant and readily available data, healthcare data is diverse, complex, and fragmented across different systems. This presents unique challenges for AI implementation, requiring innovative strategies for integration, interoperability, and standardization.
Interpretability
Many AI models, such as deep learning algorithms, are often considered “black boxes” due to their complex nature, making it challenging for healthcare professionals to understand how they arrive at specific conclusions or recommendations. Improving the interpretability of AI systems is crucial for building trust and acceptance among clinicians.
Ensuring Ethical Considerations and Patient Privacy
In the healthcare sector, where decisions directly impact patient lives, ensuring ethical considerations and patient privacy is paramount. AI technologies must adhere to rigorous ethical standards and regulatory guidelines to safeguard patient data and maintain trust in healthcare systems. Transparency, accountability, and patient-centric approaches are essential to responsible AI integration.
Total Data Storage Capacity Compared To The Total Amount Of Healthcare Data
Integration with Clinical Workflow
While some healthcare sub-sectors have experts familiar with basic AI tools, but many medical practitioners still face workflow issues. Integrating AI seamlessly into existing clinical workflows and EHR systems remains a challenge. Healthcare professionals require user-friendly interfaces and interoperable AI solutions that enhance existing practices without disrupting patient care or workflow efficiency.
Cost and Resource Constraints
Developing and implementing AI technologies in healthcare can be costly and resource-intensive, particularly for smaller healthcare facilities or resource-limited settings. Addressing cost barriers and providing adequate training and support for healthcare professionals to use AI tools effectively is essential for ensuring equitable access and adoption across different healthcare settings.
Although challenges such as data complexity and regulatory obstacles persist, the adoption of AI in healthcare is steadily increasing. As the world becomes more interconnected, particularly through avenues like medical tourism, AI and ML present considerable opportunities to enhance the healthcare journey. It’s widely acknowledged that AI holds the potential to revolutionize patient care, emphasizing precision medicine and personalized services. Moving forward, it’s imperative that the advancement of AI in healthcare remains grounded in a commitment to innovation and empathy, ultimately striving to enhance outcomes and elevate the quality of life for individuals globally.
One of the most promising places to set up shop and build a successful trading model is India. This is why a lot of big multinational businesses are pouring money into the country in anticipation of their future growth. Wright, a market research company, has reported that the Indian financial markets are quite active and optimistic. This expansion is changing the face of the Indian market and fueling the dreams of millions of people, not merely numbers on a graph. Significant governmental reforms, rising local demand, and large foreign investments are key factors shaping this dynamic economic landscape. A lot will change for India’s economy in the 2024 elections. Preliminary surveys and market reactions point to a stable government, which could have far-reaching consequences for both the near-term stability of the market and the direction of economic policy in the long run. These elections are a barometer for investor confidence and economic policies for the future, in addition to testing the waters of political strength.
India is all set to witness some of the interesting trends lately and these developments are all poised to take the market to a new level.
Elaborating further on that note, Ivy Chin, Partner, Inflection Point Ventures stated, “In 2024, I anticipate a rise in the number of agreements of a higher magnitude. With all the preparation that has gone into the past few years, this would be growth capital for start-ups that are entering their later stages of development, as well as investments in some of the most intriguing new areas, such as space and artificial intelligence. Not only have these two areas been changing, but investors’ knowledge of them has also grown. With the proliferation of both startups and the ecosystem supporting them, angel investing is only going to increase. In my opinion, more interest and money will be directed towards improving our knowledge of sustainability and clean tech health and our capacity to drive their monetization. Finally, as the world becomes more interconnected, investors will seek businesses both domestically and abroad.”
Echoing similar sentiments, Deep Bajaj, Co-Founder, of Sirona Hygiene and an Angel Investor stated, “Particularly in sectors experiencing disruptive innovations and fast technical advancements, we anticipate that investment levels will continue to rise. There will likely be a rise in interest in later-stage investment rounds as companies expand and seek new opportunities. Renewable energy, health tech, and artificial intelligence are three sectors that are anticipated to attract a lot of investment due to their enormous return and impact potential.”
Following the 2024 elections, investors anticipate further policy improvements and the possibility of economic stability. Shareholders should have more faith in the market and better stock performance in such a reformative and stable environment. Market downturns should be seen as chances for investors to strengthen and diversify their holdings, especially in industries expected to experience growth as a result of policy initiatives or international economic trends. The hope for a stable administration is boosting spirits since, in theory, it should make economic and corporate decisions and policy execution easier by creating a more predictable environment.
Many investors are being enticed by the ideas of digitization, renewable energy, sustainability, etc., and have already begun investing in this domain because the current administration is actively encouraging it. Considering that the majority of surveys predict that the present alliance will serve a third term, it appears that this investment trend will continue.
“Investing in rapidly growing digital companies is a smart move since technology is always changing, which encourages innovation and undermines existing industries. In addition, there are attractive investment opportunities in solar, wind, and other clean energy companies due to the worldwide emphasis on sustainability, which is driving the renewable energy sector ahead,” stated Chin.
“Innovations in biotechnology and healthcare startups that improve both accessibility and the quality of healthcare delivery are attracting more and more investors. In 2024, I intend to stay away from eCommerce companies that fail to differentiate themselves in terms of technology or marketing strategies, as well as SaaS companies whose capacity to scale and generate revenue is not clearly defined,” he added further.
Bajaj seconded the views of Chin and said that when it comes to waste management, renewable energy, and eco-friendly alternatives, they think modern innovation holds a lot of potential for tackling sustainability concerns. Traditional manufacturing and other legacy sectors may not be suitable for their investment strategy in 2024 due to their inflexible regulatory environments or low levels of scalability.
Preferred Sector for Investment in India as of February 2023
Elections and Stock
The 2024 elections are going to be a watershed moment, and early predictions are pointing to a win for the current administration, which is seen as reform-minded and sympathetic to the market. Markets are influenced by expectations, which can cause them to invest more in sectors that government policies are projected to help. For example, following the re-election of a reform-minded administration, which had significant market gains in the months that followed, the market reacted positively to the election of governments seen as being open to reform. The markets might keep going higher in 2024 if the results hold true and a government focused on reform is created or re-elected. This would be because investors are hoping for stable and supportive economic policies.
Stretching further on the current election fever, Chin opined, “Global conflicts have the potential to negatively affect the supply chain and the price of resources because the globe is always changing. In light of the foregoing, the Indian startup system would benefit from the outcomes of elections that indicate stability, emphasize a longer-term plan, and invest in and drive clear policies. Greater government support and investor confidence might increase funding opportunities and access to capital for entrepreneurs if election optimism holds. This, in turn, might stimulate innovation and economic growth.”
Differing from the above views, Bajaj said, “While fundamental market dynamics and long-term strategic factors often inform our funding decisions, political events like elections can introduce short-term volatility and changes to the investing environment. We remain vigilant in our risk management efforts by closely monitoring geopolitical events and adjusting our investment approach as needed. Our end goal is to identify innovative and robust companies that can thrive in the face of challenges and create lasting, valuable products and services.”
Traders are bracing for a dramatic increase in the Indian market when the current government gets re-elected, according to recent market trends. Investors are betting big on this development because they think the present administration will keep supporting them the way it has in the past. The areas of digital innovation, sustainable practices, and renewable energy are expected to attract substantial investment due to the high expectations of investors in these areas. There has been a marked improvement in the investment climate in India.
FAQs
What are the anticipated trends in investment for India in 2024?
Investors expect increased investment in sectors such as space, artificial intelligence, renewable energy, health tech, and digitization.
How are investors perceiving the impact of the 2024 elections on the Indian market?
Investors anticipate policy improvements and economic stability post-election, leading to better stock performance and increased investment opportunities.
What are some key factors fueling the optimism in the Indian financial markets?
Significant governmental reforms, rising local demand, and large foreign investments are fueling the optimism in the Indian financial market.
This article has been contributed by Anju Sethi, HR Head, Brightsun Travel.
India’s business landscape thrives on a robust legal framework, with labor laws playing a pivotal role in ensuring fair treatment for both employers and employees. Regardless of size or industry, every organization must comply with these central and state-specific regulations. This article serves as a comprehensive guide, unpacking the importance of labor law compliance and outlining key legislations that govern workplaces in India.
Compliance with labor laws isn’t just a legal obligation; it’s a strategic imperative. A well-designed compliance program fosters a positive work environment, improves employee morale, and reduces operational risks.Here’s how:
Enhanced Operations: A structured approach to compliance streamlines HR processes, minimizes errors, and ensures timely execution of employee-related tasks.
Improved Quality of Care: Adherence to labor laws guarantees employee well-being through fair wages, safe working conditions, and mandated leaves. This translates to a more engaged and productive workforce.
Reduced Costs: Non-compliance can lead to hefty penalties, legal battles, and reputational damage. Following labor laws helps organizations avoid these costly repercussions.
Building a Compliance Framework
Implementing an effective compliance program requires a systematic approach. Here’s a breakdown of the key steps:
Design and Development: Identify relevant labor laws based on factors like location, industry, and size of the organization. Develop policies, processes, and procedures aligned with these laws.
Implementation and Monitoring: Train HR personnel on the new protocols. Establish a risk assessment matrix to pinpoint areas of potential non-compliance and institute regular monitoring mechanisms.
Key Labor Laws in India
India’s labor law landscape is vast, encompassing numerous central and state-specific legislations. Here’s a glimpse into some of the most crucial ones:
The Punjab Shops & Commercial Establishments Act, 1958: This law regulates work conditions in shops and commercial establishments, including IT, non-IT, and BPO sectors. It mandates fair wages, working hours, leaves, and safety standards, promoting a healthy work-life balance.
The Punjab Labor Welfare Fund Act, 1965: Established to improve employee living standards, this act mandates contributions from both employers and employees into a welfare fund. The collected funds are used for initiatives like healthcare and educational support for workers and their families.
The Equal Remuneration Act, 1976: This act guarantees equal pay for men and women performing similar work or work of a similar nature. It prohibits gender-based discrimination in recruitment and ensures fair compensation practices.
The Maternity Benefit Act, 1961: This act safeguards the employment rights of women during pregnancy and childbirth. It mandates paid maternity leave for a specified period, enabling women to focus on their well-being during this critical time.
The Minimum Wages Act, 1948: This act establishes the minimum wage payable to employees for their work, preventing exploitation and guaranteeing a decent standard of living. The government periodically reviews and revises minimum wages based on cost-of-living factors.
The Payment of Wages Act, 1936: Guarantees timely wage payment without unauthorized deductions.
The Payment of Bonus Act, 1965: Entitles eligible employees to a bonus payment based on company performance.
The National & Festival Holidays Act, 1963: Mandates three national holidays (Republic Day, Independence Day, and Gandhi Jayanti) and empowers states to declare additional festival holidays.
The Payment of Gratuity Act, 1972: Provides gratuity payments to long-serving employees as a token of appreciation for their dedication.
Employees’ Provident Funds and Miscellaneous Provisions Act, 1952: Creates a social security scheme for employees, encouraging long-term savings for retirement.
Employee State Insurance Act, 1948: Offers medical benefits to employees in case of sickness, maternity, employment injury, and permanent or partial disability.
The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013: Prohibits sexual harassment of women in workplaces and mandates the formation of internal committees to address complaints.
India – Composition of Labor Force
In conclusion, navigating India’s labor laws can be complex, but with a proactive approach and a commitment to compliance, organizations can foster a positive work environment, protect employee rights, and achieve long-term success. Regularly seeking legal counsel and staying updated on evolving regulations is key to maintaining a compliant and ethical workplace. This collaborative effort extends beyond legal adherence.
The government can strengthen enforcement, employers can prioritize compliance training and communication, and employees can actively participate in upholding their rights. Importantly, compliance isn’t just about following regulations; it’s an investment in a thriving work ecosystem. Fair treatment and a healthy work environment benefit everyone – employees experience greater satisfaction and productivity, companies attract and retain top talent, and the nation enjoys a skilled workforce that fuels economic growth. By viewing labor laws as tools for mutual benefit, India can create a future where compliance fosters prosperity for all.
The Lady luck stands with those who never give up and who work harder, stronger, and smarter during tough and challenging times. Here is a story of another ‘slumdog millionaire’ that stands as an example and inspiration to many.
This is the story of Rizwan Sajan, who paved his way from the streets of Mumbai to the glamorous world of Dubai. There were numerous setbacks and failures, but what made him as successful as he is today are his confidence, determination, and strong will to never give up. The hardships that a person undergoes compel him to push to his limits and that leads to huge success.
Let’s explore the story of Rizwan Sajan who tasted such great success through his hard work.
Rizwan Sajan’s story is one of resilience ever since he was a child. Despite growing up in such challenging circumstances in Mumbai’s Ghatkopar area, he didn’t let these obstacles define his future.
Though his father’s stroke of luck with the lottery provided a turning point for the family, allowing them to move into better living conditions, life was still full of challenges.
Rizwan understood the support his family needed and wanted to contribute. Thus began his entrepreneurial spirit. Starting with small trading ventures, he utilized the potential of his schoolmates and the local community by selling a variety of products, ranging from books to milk, rakhis, and firecrackers.
This early experience likely instilled in him valuable lessons about business, perseverance, and the importance of seizing opportunities.
Everything looked progressive until one day when he had to face the harsh reality of life. His father passed away when he was 16. So, Rizwan had to bear the burden of taking care of the financial needs of his family. He dropped out of school and started a small business manufacturing box files.
But the financial burden was still heavy to carry. He decided to take some major steps in his career to address this financial crisis.
In 1981, he approached his uncle for help and was employed by him in Kuwait as a trainee salesman. Through his hard work, he quickly rose in his career.
Once again, everything looked progressive until the next turning point. The invasion of Kuwait in 1990 forced him to leave for India. Once again, he was back in Mumbai. But, what stood as the reason behind his success was his unshakable perseverance. He decided to venture into the job market again from scratch. Eventually, he landed a job at a brokerage firm dealing in building materials in Dubai.
Rizwan Sajan – Danube Group
After all the ups and downs, through the experience gathered, he finally decided to launch his own business in 1993 and founded the Danube Group. Dubai was the obvious choice for starting the business. Everything worked out in his favour and his business expanded rapidly along with Dubai’s growth. He also diversified in many other sectors like the sanitary solutions brand Milano (2006), Danube Home for Home Furnishing (2008), and Alucopanel dealing in aluminum composite panels (2012).
He never missed an opportunity and was not afraid to take chances to achieve success. He entered the real estate sector in 2014 and this proved to be a great success in his business career.
The company has grown to be one of the greatest business conglomerates in the world with a tie-up with brands like Aston Martin, Fashion TV, and Tonino Lamborghini Casa.
Danube Group
Rizwan Sajan – The 1% Man
Rizwan realized that Dubai’s real estate market was already dominated by many real estate giants. For him to flourish in such a competitive market, he had to come up with something innovative. While analyzing the sector, he realized that the expats living in UAE had a practice of only renting apartments and not buying them because they were salaried employees. He wanted to leverage the potential of this crowd and decided to convert these tenants into house owners.
For this, he introduced the 1% plan, where the buyers had to pay a small downpayment and only one percent of the cost per month while the remaining payment could be done after the completion of the project.
This brilliant innovative idea worked out and made owning a house affordable for many people. This plan shifted the mindset of the expats and made them believe that they could own a house. Many came forward to buy houses and this is considered as the major step in the success of the company.
This was such a huge success that in 2019, Rizwan was among the first foreigners who received the U.A.E.’s new 10-year residence visa in recognition of his group of companies’ contributions to the country’s economy.
This kind of innovative thinking and smart moves always made Riwan successful in all his endeavors despite the challenges he faced.
Rizwan Sajan – Personal Life
Rizwan is married to Sameera and the couple has one son named Adel Sajan.
Rizwan Sajan – Philanthropy
Rizwan’s tough childhood and his struggles have made him realize the importance of giving back to society and thus he is involved in great philanthropic activities like:
Rizwan donated AED 5 million towards the UAE government’s ‘1 Billion Meals Endowment Initiative’ in 2023.
In 2012, the Danube group started its welfare center called the Danube Welfare Centre (DWC) to address the difficulties faced by the blue-collared individuals in the UAE. This initiative provides the laborers training in English language and computer skills.
The company serves Iftaar to many thousands of laborers every year during the month of Ramadan.
Rizwan Sajan – Awards and Recognitions
Rizwan Sajan is awarded with the following accolades:
Forbes Middle East ranked him 12th among the ‘Top 100 Indian leaders in the UAE’ List.
He was also awarded the Mohammed Bin Rashid Al Maktoum Business Excellence Award.
He was named The Economic Times Global Indian Leader in 2022.
Rizwan Sajan – Quotes
💡
Life can throw you off gear but it’s your will and determination that keeps your head above water.
FAQs
Who is Rizwan Sajan?
Rizwan Sajan, born on December 27, 1963, in Mumbai, India, is a prominent Non-Resident Indian entrepreneur based in the UAE. He is the founder and chairman of Danube Group, a leading conglomerate in the region.
Why Rizwan Sajan is called a 1% Man?
Rizwan Sajan is called a 1% Man because he introduces the 1% payment plan that presents an opportunity to acquire property in Dubai through monthly payments of just 1% of the total price. This innovative scheme offers a pathway to property ownership with minimal initial investment, a customizable payment schedule, and without incurring interest charges.
This article has been contributed by Aarul Malaviya, Founder, AI enabled – Zamit.
Internships serve as invaluable opportunities for students to gain practical experience, explore career paths, and develop essential skills for the professional world. Excelling in internships requires a strategic approach and a commitment to learning and growth. To make an informed decision thorough research is required which would eventually lead to paving the way to one’s desired career.
Let’s dive right into the key considerations that students should keep in mind to make the most out of their internships:
Set Clear Goals: While internships come with guidelines, it’s essential to have a clear plan for what you want to achieve. Identify specific skills you’d like to acquire, aim for stellar reviews, or focus on anything that will further your career.
Be Proactive and Take Initiative: Take initiative and seek out opportunities to contribute to projects or tasks. Don’t wait for tasks to be assigned to you; instead, volunteer for assignments and demonstrate your enthusiasm and willingness to learn. If you identify areas where you can add value or improve processes, don’t hesitate to propose ideas or solutions.
Build a Robust Network: Build relationships with your colleagues, supervisors, and other professionals in your field. Networking can open doors to future opportunities and provide valuable insights into the industry.
Seek Feedback and Treat Mistakes as Learning Opportunities: Request feedback on your work regularly to gauge your progress and identify areas for improvement. Use constructive criticism as an opportunity to grow and refine your skills. Don’t be afraid to make mistakes; instead, view them as learning opportunities.
Stay Curious: Stay curious and open-minded throughout your internship. Be willing to explore new ideas, technologies, or methodologies that can enhance your skills and knowledge. Don’t hesitate to ask questions if you’re unsure about something. Asking for clarification or guidance shows your interest in learning and your commitment to doing a thorough job.
Don’ts
While embracing the aforementioned one should take great care to avoid the following pitfalls while navigating the internship landscape:
Don’t Forget to Follow Up: After completing a task or project, it’s essential to follow up with your supervisor to ensure that you’ve met expectations and to seek feedback for improvement. This demonstrates your commitment to excellence and your willingness to learn and grow.
Don’t Neglect Your Professional Development: Your internship presents a valuable opportunity to invest in your professional growth. Take advantage of this time to develop new skills, expand your knowledge, and hone existing competencies. Seek out learning opportunities, whether through formal training sessions, shadowing experienced professionals, or taking on challenging projects.
Don’t Burn Bridges: Even if your internship doesn’t lead to a job offer later, maintaining positive relationships with your colleagues and supervisors is crucial. Building and nurturing these connections can open doors to future opportunities, whether through referrals, recommendations, or networking.
Don’t Underestimate the Power of Soft Skills: Focus on developing soft skills like communication, teamwork, and problem-solving during your internship. Practice effective communication, collaborate with colleagues, and approach challenges with creativity. These skills are crucial for success in any professional setting and will make you a valuable asset to future employers.
Don’t Forget to Express Gratitude: Expressing gratitude is a simple yet powerful way to leave a positive impression and build goodwill with your colleagues and supervisors. Take the time to thank them for the opportunities, guidance, and support they’ve provided during your internship.
Important Aspects Internship Students have Learned
Takeaway
Excelling in internships necessitates a proactive attitude, a dedication to continuous learning and development, and maintaining professionalism. Students can optimise their internship experience and establish a strong foundation for a successful career by following the aforementioned guidelines. By embracing these principles, interns can make meaningful contributions, gain valuable experience, and position themselves for future opportunities in their chosen fields.
Niku Mandal
