StartupTalky

Tag: ✍️ Opinions

  • How Generative AI & Microsoft Copilot Will Be the Next Game Changer in Transforming Business

    This article has been contributed by Dr. Ravi Changle, Director, AI & Emerging Technologies, Compunnel.

    Generative AI and Microsoft Copilot are all but set to turn around the way businesses work across a range of industries, fostering innovation and increasing efficiency. The worldwide market for artificial intelligence (AI) is estimated to reach $1.81 trillion by 2030 from $136.6 billion in 2024, indicating the escalating adoption of AI technology that supports business transformation.

    It has been predicted by Gartner that about 50% of all content will be created through AI by 2025, emphasizing how instrumental this technology has become in artistic and day-to-day operations. In sectors such as manufacturing generative AI is already revolutionizing industries with product designs optimised and time-to-market reduced by almost 30 percent.

    In addition to enhancing productivity and collaboration within an organization, Microsoft Copilot embedded in Microsoft 365 helps to generate text for drafting documents, helping to create presentation materials, and analyzing data.

    The Current State of Generative AI and Microsoft Copilot

    There have been substantial improvements in generative AI thereby providing powerful capabilities across different domains. For example, GPT models can be used for content creation resulting in high-quality texts, images, and videos which play crucial roles such as marketing, media, and entertainment hence reducing manual inputs. Generative AI is the best in predictive analytics as it provides insights that can be acted upon and predicts market trends and results. Still, it employs AI-driven chatbots to perform repetitive tasks such as data entry and customer service hence increasing efficiency and enabling human resource teams to concentrate on strategic actions.

    Microsoft Copilot is integrated into Microsoft 365 thus upgrading productivity and collaboration by using artificial intelligence features. With natural language processing, it writes emails, reports, and documents, thus reducing time spent on writing and editing. In Excel, large data sets are processed by Copilot for real-time insights needed for data-oriented decision-making. Moreover, it also makes creating presentations easier by summing up main points in order to generate PowerPoint slides which are followed by preparing final drafts of a report or an email. During meetings agendas are generated, notes taken down while discussions are summarized thereby saving time.

    Additionally, when certain activities need to be done automatically like scheduling meetings or setting reminders for someone’s phone number so that he/she does not forget some important information then this is done through Copilot thereby reducing administrative burdens while at the same time increasing overall productivity.

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    Research Gaps and Present Limitations of Generative AI and Microsoft Copilot

    Generative AI and Microsoft Copilot have significantly transformed business operations, but there are still a number of research gaps and limitations. Therefore, understanding these spaces will be important for driving future advancements as well as fully exploring the potential provided by these technologies.

    Generative AI

    • Contextual Understanding: There are times when AI fails to maintain context over long interactions leading to irrelevant outputs. We need a greater capacity for contextual awareness.
    • Bias and Fairness: Biases can be passed on to AI through training data with the consequence that its outputs become unfair. We need ways to detect such biases better and minimize their effects.
    • Creativity and Originality: Most of the time AI lacks true originality, it may reproduce existing works. What we must do is improve creative capabilities in artificial intelligence.
    • Understanding Nuance: It may lack nuances like sarcasm or cultural references thereby producing inappropriate responses. So, improving upon AI’s grasp of nuanced language is key here.
    • Ethical and Privacy Concerns: The use of AI in sensitive spheres raises ethical dilemmas along with privacy issues. Therefore, robust ethical frameworks should be put in place alongside privacy-preserving techniques.

    Microsoft Copilot

    • Complex Decision-Making: While being extraordinary at routine tasks, Microsoft Copilot has difficulty dealing with complex decisions that require deep expertise.
    • Customization: Copilot may not fully adapt to specific workflows. Developing more flexible AI solutions that can adapt to diverse needs is crucial.
    • Industry-Specific Contexts: Copilot might not understand industry-specific jargon, limiting effectiveness. Training AI on diverse datasets will enhance applicability.
    • Integration with Legacy Systems: Integrating Copilot with legacy systems can be challenging. Improving interoperability is essential.
    • Real-Time Collaboration: Copilot’s real-time feedback and adjustment capabilities are limited. Advancing real-time collaboration features will improve productivity.

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    Filling Research Gaps in Generative AI and Copilots

    Moving forward, future developments will aim to make AI more context-aware, equal, imaginative, and ethical. To keep coherence in extended communications memory mechanisms enhanced models and contextual learning would be useful for AI.

    Advanced bias detection and mitigation techniques will ensure that fairness prevails in the outputs of AI systems. Enhanced NLP models could understand subtleties like sarcasm and cultural allusions better thus generating responses that are more contextual. Robust frameworks for ethical considerations as well as privacy-preserving technologies such as federated learning and differential privacy will be employed.

    Microsoft Copilot is expected to incorporate advanced decision support algorithms, increased customization, industry-specific training datasets, improved interoperability protocols, and real-time collaboration features in its future developments. These transformations are expected to enhance the sophistication of generative AI and copilots that can be used by common people thereby leading to unprecedented productivity levels, especially with regard to creativity and innovation.

    Next-Gen AI: The Transformative Potential of Generative Physical AI in Industry 5.0

    Generative physical AI will play a key role in Industry 5.0, revolutionizing industries with advanced material design, hyper-personalization, and integration with 3D printing. AI-driven algorithms will develop superior materials, optimize production processes, and create custom products, especially in healthcare. Autonomous systems will self-optimize and self-repair, reducing downtime and maintenance costs. This integration of human creativity and advanced AI technology will drive personalized, sustainable, and human-centric production, transforming industries with increased efficiency, creativity, and functionality.

    In summary, generative AI and Microsoft Copilot are poised to transform business operations, driving innovation and efficiency. Addressing current limitations and advancing these technologies will unlock their full potential, shaping the future of work and industry. Get ready for a smarter, more efficient future!

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  • Mastering the Art of Product Pivots: How to Plan and Execute a Product Pivot Successfully

    This article has been contributed by Vivek Dev Jacob, a Startup Founder (stealth mode) and an active member of the startup community.

    Product Pivot is both a painful and inevitable phase for any startup to achieve growth.

    Pivot is one of the most painful phases that requires a strong commitment from your team to spend those long sleepless nights endlessly fixing codes, bugs, features, testings, doubt on better traction, and so on.

    Pivot at the same time is one of the most inevitable phases as per the old saying “Innovate or die”. At times, wrong pivots can lead to shutdowns if not done properly. I am here to discuss some best practices with interesting real-life examples to help you understand Why, When, and How you need to initiate a pivot for your startup.

    Here are 6 steps that I would recommend based on my interactions with some startup founders that I know from my connections:

    1. Acknowledging the Need for Change

    Pivot Pyramid
    Pivot Pyramid

    In 2016, Selcuk Atli, CEO and Co-founder of Bunch, introduced the Pivot Pyramid as stated in the above image.

    The need for change could be in terms of Growth, Tech, Solution, Problem, and Customers.

    Let’s break down each factor mentioned in the pyramid to understand better:

    • Customers: They form the core foundation of any startup. Any problem statement you plan to solve, the solution you offer, and the tech you plan to implement must be aligned with your ICP (Ideal customer profile) pain points. If you plan to switch in your customer profile, you need to reconsider all the remaining parameters in the pivot pyramid.
    • Problem: Your problem statement might be something that doesn’t exist or is irrelevant to the customers. You need to check for the Problem Customer Fit – this is a newly crafted term from my end. In simple words, if the problem statement and the customer are on the same pace – bingo you got this!
    • Solution: The above two steps you have figured out – that’s a decent milestone achieved. Now the real challenge is the change that you make in your product needs to accelerate growth to achieve decent market leadership.
    • Growth: Ultimately all the changes mentioned should lead to growth, which is at the top of the pyramid. At times you need to tweak your growth strategy and channels based on the market dynamics, or else growth becomes tough.

    Below are the famous examples of Pivots at each stage for some named products:

    Famous Examples of Pivots
    Famous Examples of Pivots

    At the end of the day for any pivot decision you need to rely on data for each level mentioned in the pivot pyramid.

    2. Redefining the Vision and Strategy

    Define a new vision and strategy based on which part of the product needs to pivot as mentioned in the Pivot Pyramid. You must closely monitor your product analytics based on Daily active users, User feedback, and competitor insights. In my honest opinion, ultimately your daily interactions with the customer should be the moat rather than being obsessed with the competition, this will help you define your competitive advantage.

    The founder also needs to make a clear timeline to achieve PMF (Product Market Fit), or else all the efforts being put into product pivot might go in vain.

    3. Develop a Road Map

    “Clearly explain why your product exists and your approach to running it. This could be a mission statement, tenets, or principles. The important thing is that you believe in them, and by pinning them at the top of every roadmap it will be clear if what follows in the roadmap doesn’t match your principles.” — Ian McAllister, Director of Product Management at Airbnb.

    A road map is more than just a document that you may want to simply sit and draft, without having a clear goal or objective that needs to be accomplished. The road map also involves getting strong backing from your team and other stakeholders including your investors. The road map cannot be a piece of music for the ears, it needs to be backed by data. You might need clarification about the types of metrics to be used to measure the success or failure of your new product.

    Not to worry here are some tips that would help you define the metrics for your road map:

    • Spell out the metrics early on: By defining them early for your new product, you have better clarity during the development phase, before it’s shipped to your customers.
    • Scientific Approach: Even before defining your metrics you need to define a hypothesis, test, and measure. The metrics you decide to choose depend on the stage of your product, type, industry, and size of the company. Narrowing down on the important metrics is important to avoid unwanted noise. At the end of the day, all these metrics have to align with the larger business objectives that need to be achieved.

    Below are some sample metrics that will help you understand from a business standpoint.

    Pivot Road Map Metrics
    Pivot Road Map Metrics

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    4. Transparency in Communication

    You have to openly communicate the pivot plans with all your stakeholders be it – customers, employees, and investors. Any sort of communication gap with the above-mentioned stakeholders will result in shooting in the dark. Clarity in terms of progress, addressing concerns, and openness to feedback at all levels is something non-negotiable.

    5. Implement the Pivot

    It is always advisable that you implement the pivot in a series of small steps that are trackable and also do not create unnecessary burdens for your team. As I mentioned at the start of this article ‘Pivot is a Painful process’. All I am trying to point out is maintaining your team morale is important during such a transformational period to ensure the pivot is a success. When I say Pivot has to happen in a series of steps which has to be in line with the Pivot Pyramid as mentioned in the first point. Every team has to make a shift to align with the Pivot – Tech, Product, Growth, Sales, Operations.

    6. Iterate and Measure Your Progress

    Here, you need to do faster tests, iterate, and follow the loop, as rightly mentioned in the Lean Startup methodology.

    MVP (Minimum Viable Product)
    MVP (Minimum Viable Product)

    I would always recommend the MVP (Minimum Viable Product) approach to ensure efficiency and faster tracking of results.

    Once you are ready with your MVP you need to start testing this with a small group of your existing users who can give you the right set of feedback – it could be on regarding your landing page, User experience, and ability to solve the customers’ problem. These days it’s easy to gauge daily active users and retention with the help of many product analytics that are available in the market. Your job doesn’t end by just tracking those analytics in a CSV file. Jokes apart. You need to infer those analytics into actionable items at high priority as stated in the above diagram of the Lean Startup methodology. All the learnings need to be documented for internal visibility and also to expedite the next steps that need to be taken.

    All said and done, a Pivot is inevitably painful. You need to have a proper pivot plan as mentioned in the above steps and, above all, a healthy alignment with your customers, investors, and team.

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  • How is AI Used to Predict the Crypto Market in the Investment Industry?

    This article is to be attributed to Edul Patel, CEO of Mudrex, a Global Crypto Investment Platform.

    In recent times, cryptocurrencies have seen massive growth and adoption with regulatory developments and giant companies investing in it. With this, the global crypto market capitalization also reached the peak at $2.5 trillion and Bitcoin setting a record of all-time high at $74,000 level. Market such as cryptocurrency which is operational 24/7 needs investors and traders to be on their toes to not miss a potential opportunity. This is where market participants are turning towards predictive analytics powered by Artificial Intelligence (AI) for data-driven decision-making.

    How can AI be leveraged to Predict the Market?

    • Analyzing the Data: AI can analyze large amounts of data at a greater speed when compared to humans. By using Machine Learning (ML) models, AI can identify any patterns or correlations, or anomalies within the crypto market which cannot be done by a human analyst. To help investors and traders make well-informed decisions, these models analyze data across platforms such as social media, news, trading volumes, and blockchain transactions.
    • Sentiment Analysis: As the crypto market is operational around the clock, understanding the sentiments of the market participants is important. Any sort of sentiment, be it positive or negative can impact the market movements. AI-powered sentiment analysis can help investors and traders an immediate pulse of the market to adjust their strategies and feel more in control.
    • Predictive Analytics: Through AI algorithms, market participants can identify patterns or trends using historical data to forecast or predict future price movements. These models can add and analyze many variables including historical price data, trading volumes, market capitalization, and macroeconomic indicators to generate probabilistic forecasts. Additionally, with backtesting and optimization, AI models can also learn and adapt according to evolving market conditions. This helps in reassuring investors about the reliability and accuracy of predictions over time.
    • Algorithmic Trading: Algorithmic trading depends upon AI-driven formulas to perform trades based on established standards or guidelines. These formulas can determine successful chances in the crypto market by examining real-time market information as well as carrying out trades at a greater speed. These tools can assist in getting rid of human feelings as well as predispositions from the trading procedure to take advantage of market inefficiencies and also produce regular returns.

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    What are the Challenges?

    Even though AI holds great promise, it also comes with its own challenges and limitations. One of the major challenges is the need for more high-quality data since the crypto market is highly volatile and still in its early stages. Since the market is volatile it can be susceptible to sudden shifts and black swan events posing some set of challenges. Additionally, it is also important to address the ethical considerations as AI is increasingly integrated into investment strategies. The use of AI-powered algorithms raises concerns about manipulation, especially in areas where crypto is still not regulated.

    Final Thoughts

    AI is changing the way investors and traders predict and navigate the crypto market landscape. By leveraging AI-driven analytics, market participants can gain valuable insights, manage risks, and capitalize on lucrative opportunities in the dynamic crypto market. However, it is also important to understand the challenges and ethical considerations before using AI for trade or investment-related decisions. AI can definitely help in providing insights, however, it is always suggested to do your own research and get into the market.

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  • Winning With AI: How Technology is Shaping the Sports Industry and Business Growth

    This article has been contributed by Anubhav Srivastava, Head of AI at Stupa Sports Analytics.

    The sports industry, where traditional methods cast a shadow for an extended time, has undergone a significant transformation lately. Technological advancements, particularly artificial intelligence (AI), have disrupted the space with transformative solutions.

    For example in racquet sports such as table tennis, padel, and badminton, AI-driven technologies can track player movements, ball/shuttle speed, type of spin, and other biomechanical data to provide insights for training and strategy. Other specific areas (like VR, Drones, Blockchain, Analytics, etc.) acted as catalysts in reshaping various spheres of sports.

    As time passed, these advancements have become integral in offering unique opportunities for ensuring improved athlete performance, operational efficiencies, enhanced fan experiences, and data-driven decision-making.

    AI plays a crucial role in driving this massive shift as a game changer. Businesses within the sports sector, including startups and established organizations, are poised to take advantage of these innovations to drive growth and engagement.

    The Heightened Demand for Sports Tech Startups
    Attracting Non-Players and Expanding Audiences
    Enhancing Broadcasting and Viewer Experience
    Investment and Venture Capitalist
    Ethical Considerations and Challenges

    The Heightened Demand for Sports Tech Startups

    Leading sports tech companies are spearheading this revolution by leveraging AI’s evolutionary power to unlock new levels of innovation and engagement. These startups are leveraging AI, virtual reality (VR), drones, analytics, and blockchain to address various challenges and opportunities within sports.

    According to industry reports, with these advanced prospects, the global sports technology market, worth USD 21.9 billion in 2022, is expected to be a staggering USD 41.8 billion by 2027. It is also poised to grow at a CAGR of 13.8% from 2022 to 2027.

    The Indian sports tech market is also expected to see significant growth, rising from USD 1.2 billion in 2022 to USD 3.5 billion in 2027. The golf tech segment of the Indian sports tech market is projected to grow even faster, with a CAGR of 25-30% in the coming years. This upsurging growth can be attributed to the increased focus on fan engagement in stadiums, the evolving pressure to improve player experience, and the demand for esports technology adoption.

    Sports tech startups are attracting venture capitalists and investors due to their ability to provide scalable and impactful solutions. They integrate AI and advanced analytics to offer real-time insights, enhance fan engagement, and streamline operations for sports organizations. For instance, these companies are using AI algorithms to create dynamic graphics overlays during live broadcasts, providing fans with immersive visualizations of game data.

    Attracting Non-Players and Expanding Audiences

    One of the key impacts of AI in sports is its ability to attract non-players and expand the audience base. Technologies like VR and interactive content platforms are making sports more accessible and engaging for a broader audience, including those who may not have been traditional sports fans. It includes attracting demographics such as females and older generations, who may have previously felt excluded from the sports narrative.

    Sports tech companies help these audiences to be aware of lesser-known sports by increasing their visibility. People can receive personalized content and immersive experiences, which further helps create an expanded fan base and new revenue streams.

    Significant AI Applications in Sports
    Significant AI Applications in Sports

    Enhancing Broadcasting and Viewer Experience

    AI and technology are revolutionizing sports broadcasting by making it more interactive and engaging for viewers. Advanced AI-driven analytics provide broadcasters with real-time data and insights, which can be integrated into live coverage to enhance the viewing experience. It includes features like instant replays, player performance stats, and predictive analytics that offer deeper insights into the game.

    Furthermore, VR technology is being used to create immersive viewing experiences, allowing fans to feel like they are part of the action. It is particularly significant in the age of over-the-top (OTT) platforms, where consumers demand high-quality, interactive content. Leading sports tech companies are developing white-labeled OTT solutions that integrate AI-driven features, enabling sports organizations to deliver tailored and engaging content to their audiences.

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    Investment and Venture Capitalist

    The burgeoning sports tech sector is attracting significant interest from investors and venture capitalists. IIT-Madras recently announced its plans to provide substantial funding to sports tech startups developing cutting-edge AI and IoT-based products. These startups can secure seed investments of up to INR 5 crores to create innovative solutions incorporating sensors, networks, actuators, and controllers that leverage AI and IoT technologies. Additionally, this program will establish a dedicated sports tech incubator fund within IIT-Madras to foster and accelerate the growth of these entrepreneurial ventures in the sports technology domain.

    The promise of high returns, coupled with the potential for scalable solutions, makes sports tech startups an attractive investment opportunity. These startups are addressing critical pain points in the sports industry (like enhancing athlete performance, improving fan engagement, and optimizing operational efficiency).

    Investors are particularly drawn to the innovative use of AI in sports. From predictive analytics that helps coaches develop winning strategies to VR training programs that simulate real-world scenarios, AI is providing tangible benefits that are driving the industry’s growth. The increasing investment in sports tech is indicative of a broader trend toward the digitization and modernization of sports.

    Ethical Considerations and Challenges

    As technology becomes more integrated into sports, ethical considerations become paramount. Issues such as data privacy, the integrity of sports competitions, and the potential misuse of biometric data need to be addressed. Leading sports tech companies are prioritizing ethical practices by implementing robust data protection measures and promoting transparency in the use of technology.

    Moreover, the rise of online gambling and the availability of real-time player data pose additional ethical challenges. The industry must develop regulations and standards that ensure the responsible use of technology while maintaining the integrity and fairness of sports competitions.

    Final Words

    As the sports industry continues to embrace AI and advanced technologies, the boundaries of what is possible are being pushed further than ever before. From enhancing fan experiences and elevating athlete performance to streamlining operations and unlocking new revenue streams, AI’s impact is profound and far-reaching.

    Looking ahead, the integration of AI and emerging technologies like the Internet of Things (IoT) and blockchain will open up new frontiers in sports tech. Real-time data analysis, predictive analytics, and seamless connectivity will become the norm, enabling sports organizations to make informed decisions, optimize resources, and stay ahead of the competition.

    Moreover, the democratization of AI-powered tools and analytics solutions at the grassroots level holds immense potential. Capturing player performance and match data early in athletes’ careers can establish a comprehensive profile of their development trajectory. It can provide coaches, scouts, and analysts with valuable insights into their strengths, weaknesses, and areas for improvement.

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  • The Benefits of Yoga for Startup Founders – Boosting Productivity and Well-being

    This article has been contributed by Nisha Dhawan, Head Yoga Coach, MultiFit.

    The current decade has seen the most aspirational wave of startups trying to make a dent in existing markets with their innovation. In such a scenario where success depends on the continuous strife to survive and be profitable, the psychological and physical welfare of founders often takes a backseat.

    As per research, 70% of startup founders have said that they feel ‘exhausted’, ‘overworked’, and ‘broken’. While a staggering 49% say that they are rethinking of quitting their startup because of its impact on their mental and physical well-being, while another 75% said that they have developed anxiety because of the nature of their work. Stress may accumulate due to the ongoing demands of leadership and the pressure to succeed, which can result in burnout and decreased productivity.

    With its all-encompassing approach to wellness, yoga provides a potent remedy for many problems. The founders of startups can improve their physical fitness, mental clarity, emotional resilience, and general well-being by including yoga in their practices. This will increase their efficacy as leaders and innovators. This International Yoga Day, let’s understand the many different benefits of yoga for startup founders.

    Building Stronger Teams and Culture

    The startup as a whole benefits from yoga as well as its individual founders. Entrepreneurs who make yoga a priority for their health and well-being set a good example for their staff and promote a culture that values holistic development, balance, and wellness. Founders can foster a positive work atmosphere that enhances team morale and well-being by encouraging staff members to take part in mindfulness or yoga programs.

    Additionally, yoga practice can enhance interpersonal abilities like empathy and communication, which are critical for productive teamwork and leadership. Founders can forge closer bonds with their team members and foster a more cohesive and effective work environment by practising yoga to increase their self-awareness and emotional intelligence.

    Nisha Dhawan, Head Yoga Coach, MultiFit
    Nisha Dhawan, Head Yoga Coach, MultiFit

    Physical Health and Stress Management 

    The demands of decision-making, long hours, and deadlines can be detrimental to the physical well-being of startup founders. Regular yoga practices and breathing techniques decrease stress and improve flexibility, strength, and posture, which helps release physical tension. Asanas, or yoga poses, help mitigate the detrimental effects of extended sitting and stress-related muscle tension by strengthening and stretching muscles, improving blood circulation, and encouraging relaxation.

    Furthermore, yoga promotes conscious breathing methods that cause a relaxation response by stimulating the parasympathetic nervous system. This can considerably lower blood pressure and cortisol levels, which are indicators of stress, improving cardiovascular health in general. Yoga’s benefits to physical well-being increase energy levels and strengthen founders’ ability to withstand the physical demands of company life.

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    The Science of Focus and Mental Clarity

    Regular yoga practice has been linked to increased grey matter density in brain regions related to memory, attention, and emotional regulation, according to studies. These cognitive advantages can help startup founders who are balancing a lot of tasks and dealing with ongoing issues make better decisions, solve problems more effectively, and be more creative. Yoga helps founders negotiate uncertainty and complexity with greater clarity and confidence by helping them develop a calm and focused mind.

    Through mindfulness exercises that teach the mind to be present and focused, yoga improves mental clarity. Methods like meditation and pranayama (breath control) soothe the mind, increase focus, and strengthen cognitive abilities.

    Emotional Resilience and Stress Management

    High levels of risk, pressure, and uncertainty are commonplace for startup founders, and this can exacerbate emotional instability and fatigue. Through the development of self-awareness and emotional regulation, yoga fosters emotional resilience. Yoga’s mindfulness techniques assist practitioners become more balanced in their thinking and feeling while facing obstacles by encouraging them to notice their thoughts and feelings without passing judgement.

    Moreover, yoga highlights the value of stress reduction and self-care practices that entrepreneurs can incorporate into their everyday lives. In times of extreme strain, entrepreneurs can develop resilience and keep emotional equilibrium by learning to respond to difficult conditions instead of just reacting to them. 

    Conclusion

    To sum up, yoga provides business founders with an extensive arsenal to improve their physical well-being, mental acuity, emotional fortitude, and effectiveness as leaders. The founders may enhance their ability to make decisions, lessen the negative impacts of stress, and create a healthy work environment by adding yoga into their daily routines. Prioritising well-being through exercises like yoga not only helps entrepreneurs grow personally but also enhances their ability to lead with vision, creativity, and resilience as the startup ecosystem changes.

    Essentially, yoga is a transforming practice that goes beyond physical fitness and equips company founders to thrive in the face of the chances and challenges that come with being an entrepreneur. Founders may develop their potential, maintain their passion, and steer their enterprises toward long-term success by making an investment in their well-being through yoga.

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  • How to Implement a Corporate Yoga Program to Improve Workplace Culture

    This article has been contributed by Dr. Dharmesh Shah, Founder of Holistica World.

    In many Indian firms, where the environment is fast-paced and most often stressful, a corporate yoga program could add to enhancing workplace culture. Yoga at work aids in lowering stress levels, improving mental clarity, and creating oneness among employees. Here’s an entire guide to designing a successful yoga program tailored to the Indian workplace.

    Learning the Benefits of Yoga

    Yoga offers numerous advantages, all of which have direct implications for workplace culture and employee wellness:

    • Reduction of Stress: This is the part where yoga helps, using relaxation to reduce cortisol in the body and to yield a mind that is peaceful and alert.
    • Enhanced Physical Health: Regular practice enhances flexibility and posture and reduces common workplace complaints like back pain.
    • Improved Mental Sharpness: Yoga and meditation improve the power of attention and decision-making.
    • Higher Morale Among Employees: The workers will have more job satisfaction, job retention, and morale if they feel that their management is concerned about them.
    • Better Team Cohesion: Group yoga sessions build camaraderie and improve communication among colleagues.
    • Improved Oxygenation Through Right Breathing: Correct breathing techniques in yoga increase oxygen flow throughout the body, enhancing overall vitality and performance.
    • Enhanced Immunity: Yoga boosts the immune system, helping employees fight against diseases and remain disease-free.
    • Laughter Yoga: Incorporating laughter yoga can further reduce stress, elevate mood, and enhance team bonding through shared positive experiences.

    Yoga Program Planning

    • Identify the objectives: What are you looking to achieve from the yoga program? Is it stress reduction, improved physical health, or better team bonding?
    • Budget and Resources: Allocate a budget to recruit qualified yoga instructors, purchase the required number of mats, and possibly coordinate a space provision.
    • Scheduling: Decide how often classes will occur and when they will start. This may mean offering morning, lunchtime, or late afternoon classes so a range of employees can attend.
    • Type of Yoga: There are various forms of yoga that can be adopted, depending upon the requirements of employees. Some of these are chair yoga, desk yoga, and traditional floor yoga. Each one of these is suitable for differing physical capacities and settings at offices.

    Create Supportive Environments

    • Program Promotion: Share the information about the Yoga program through internal communication sources. Outline the benefits and, if available, share the success stories of other organizations.
    • Encouragement and Incentives: Encouraging employees to participate by providing free sessions and wellness points or mentioning them in organizational communications.
    • Feedback Loop: Regularly seek feedback from participants to keep improving the sessions. This would help mold the program so that it fits the most with what the employees need and assures further engagement.

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    Integration of Yoga into the Daily Corporate Work Life

    • Yoga Spaces: Designate a comfortable and quiet space for yoga practice. In case of insufficient space, use multi-purpose ones or even plan outdoors.
    • Flexible Options: Yoga poses that are desk-based, standing, and chair allow adaptable classes and suit all settings and physical ability levels.
    • Regular Practice: The key lies in being consistent. It is better to try including yoga as part of the routine work schedule than seeing it as a sporadic activity. Most of these effects can only get regular when practicing at least weekly or bi-weekly to establish and consolidate.

    Types of Yoga Practices Appropriate for the Workplace

    • Chair Yoga: Chair yoga means practicing yoga poses sitting in a chair. This works out just fine for people challenged with mobility or work in an office most of the time. It helps with better posture, reduction of tension in the neck and shoulders, and increased flexibility.
    • Desk Yoga: Desk yoga involves a series of yoga postures at one’s desk. It provides a chance for employees to take part who have no time to attend an entire yoga class or provide a room where they can perform yoga. It will reduce stiffness in the neck, shoulders, and back and increase circulation and energy levels.
    • Standing Yoga: This is doing yoga poses from a standing posture. Since this does not require any specific type of equipment and takes quite a lot of space, standing yoga can be easily fitted into the workplace. Standing yoga can improve one’s balance, strengthen one’s legs and core, and increase one’s circulation.
    • Breathing Exercises: An easy-to-perform yoga practice that includes breathing. Deep breathing from yoga leads to a decrease in stress and anxiety, enhanced attention and concentration, and enables peace and relaxation.

    Promoting and Encouraging Participation

    It is essential to create awareness and interest in the yoga program. The following strategies are to be applied for promoting the program:

    • Informational Sessions: Perform introduction sessions in which you outline how yoga can improve one’s professional and personal life.
    • Company Newsletters: Articles and success stories about the Yoga program run periodically in the company newsletter.
    • Incentive Programs: Reward employees for regularly coming to practice yoga. These can be in the form of wellness points, gift vouchers, or public acknowledgment.

    Addressing Common Challenges

    A yoga program has its challenges. Here’s how to deal with them:

    • Lack of Participation: In order to battle the menace of low levels of participation, make sure that the program is thoroughly advertised and, in fact, showcases benefits through real success stories coming from inside the organization.
    • Space Constraints: In case space is a problem, think about virtual yoga sessions or desk-based yoga practices, which require absolutely no space and can be executed at the level of a personal workstation.
    • Scheduling Conflicts: Include varied session timing for people who may be busy due to other priorities. Early morning, during lunch breaks, and late afternoon sessions can help maximize the participation of employees.

    To Sum It Up

    It is possible to bring a healthy, vibrant, and collaborative culture into the workplace with a well-planned corporate yoga program, well-promoted, and investment in experienced instructors. The introduction of yoga into one’s daily routine can work wonders with an emphasis on employee well-being for a productive company. By following these measures, your company can go ahead and effectively put in place a yoga program that will enhance employee morale and support organizational success.

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  • How to Create Engaging Tech Content: Expert Strategies and Tips for Bloggers

    This article has been contributed by Purusharth Malik, Tech Blogger and Digital Marketing Expert.

    Creating engaging tech content requires a mix of creativity and strategy. Whether you’re a new tech blogger or looking to enhance your content, these straightforward tips will help you captivate your audience. As a tech blogger and digital marketer, I, Purusharth Malik, have found these strategies to be highly effective.

    How to Create Engaging Tech Content

    Here is the guide for bloggers, including creative tips and strategies that will help you create engaging tech content:

    Understand Your Audience

    Identify who your readers are and what they want to read. Use tools like Google Analytics and social media insights to gather information about their interests and needs. This will help you find your content to meet their expectations.

    Example: When I noticed that my followers were particularly interested in smartphone tricks, I started creating more content around lesser-known smartphone features, like the back tap feature on iPhones.

    Stay informed about the latest tech updates. Follow tech news websites, join online tech communities, and attend webinars. This ensures your content remains relevant and up-to-date.

    Write Catchy Headlines

    Your headline is the first thing readers see, so make it attention-grabbing. Use strong words and numbers to draw interest. There are some tools available on Google to find good headlines, you can use those tools.

    Example: Instead of “New Smartphone Review,” try “10 Incredible Features of the Latest Smartphone You Need to Know About.”

    Offer Valuable Content

    Make sure your content is informative and helpful. Whether you’re writing tutorials, reviews, or news updates, ensure it provides value to your readers. Share your personal insights and experiences to make your posts more engaging.

    Example: In my gadget reviews, I always include personal opinions about how the product performs in real-world scenarios, which helps my readers and viewers relate to the content.

    Use Visuals

    Use high-quality images, infographics, and videos to enhance your text. Visuals can simplify complex ideas and make your content more appealing. For example, I write articles on smartphone reviews and attach smartphone images. I also create short tech tips videos on Instagram that my followers enjoy.

    Use Storytelling

    Storytelling makes your content relatable and memorable. Share personal experiences or use case studies to illustrate your points. This builds a connection with your audience and makes your content more engaging. The audience enjoys this type of content.

    Optimize for SEO

    Improve your content’s visibility on search engines by using relevant keywords naturally. Make sure your site is mobile-friendly and loads quickly. You can use tools like Yoast SEO to help you optimize your articles.

    Example: For a post about the best budget laptops, I used keywords like “best budget laptops 2024,” “affordable laptops,” and “cheap laptops with good performance.”

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    Engage with Your Audience

    Encourage comments, questions, and discussions to interact with your readers. Respond to their comments to build a community around your content. You can also encourage them to connect with you on your social handles and interact with them directly.

    Be Consistent

    Maintain a regular posting schedule to keep your audience engaged. Use a content calendar to plan and schedule your posts. Consistency shows your dedication and helps maintain reader interest.

    Example: I post new articles every Monday and Thursday, and I notify my followers in advance about upcoming topics through social media.

    Analyze and Improve

    Regularly evaluate your content’s performance using tools like Google Analytics. Identify what works and what doesn’t, and make necessary improvements. This helps you create better content over time.

    Example: After noticing that posts with photo content had higher engagement rates, I started incorporating more photos into my articles and saw a significant increase in readership.

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    Focus on Quality Over Quantity

    While it’s important to maintain consistency, the quality of your content should never be compromised. Well-researched, high-quality articles can position you as an authority in your niche and keep your audience coming back for more.

    Promote Your Content

    Promote your content across multiple social media platforms to reach a wider audience. Share your posts to each platform’s strengths—use hashtags on X (Earlier Twitter), create visually appealing posts for Instagram, and share detailed updates on LinkedIn. Engaging with tech communities on platforms like LinkedIn and Quora can also drive traffic to your blog.

    Example: Whenever I publish a new blog post, I create a graphic image and share that on Instagram, X with relevant hashtags, and post a detailed summary on LinkedIn.

    Use Email Marketing

    Building an email list allows you to share your content directly with your most engaged readers. Send regular newsletters with updates, exclusive content, and personalized recommendations to keep your audience engaged. You can add-on a column at the end of your article or website in which you can ask for emails from the readers.

    Example: I send a weekly newsletter to my readers with a list of my latest posts, upcoming tech events, and exclusive tips.

    Collaborate With Other Bloggers and Influencers

    Collaborating with other tech bloggers and influencers can help you reach new audiences. Guest posting or participating in podcasts are excellent ways to collaborate.

    Stay Authentic and Transparent

    Authenticity builds trust with your audience. Be transparent about your experiences, especially when reviewing products. If an article or review is sponsored, disclose this to your readers.

    Example: When I review a product sent by a company, I always disclose that in my post and ensure my review is honest and unbiased.

    About the Author

    Purusharth Malik is a tech blogger, digital marketer, and influencer. He also shares tech tips and reviews on his Instagram page, Techwithpuru. With an impressive track record of working with renowned smartphone companies for their tech projects and beta smartphone testing, Purusharth has become a trusted name in the realm of technology and smartphone testing. 

    By following these tips shared by Purusharth Malik, you can create engaging tech content that not only informs but also captivates your readers. The key to successful blogging is providing value, staying updated, and interacting with your audience.

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  • The Future of AI in Risk Management for Financial Institutions

    This article has been contributed by Rangarajan Vasudevan, Chief Data Officer, Lentra.

    India’s financial sector, the driving force behind the nation’s economic progress, is dancing on a knife’s edge. Increasing regulatory scrutiny, geopolitical tensions, a volatile global economy, and the ever-looming specter of cyberattacks intertwine to form a complex and constantly shifting risk landscape. The gravity of this scenario is starkly illustrated by the fact that fraud in banking operations alone surged tenfold in 2021-22 compared to a decade ago, reaching an alarming INR 45,598 crore, as reported by the RBI.

    Effective risk management is the cornerstone of financial stability. It entails proactively identifying, assessing, and mitigating potential economic losses. Indian financial institutions (FIs) face a multitude of risks. Credit risk, a persistent concern, is exacerbated by the growth of the microfinance sector and the rising non-performing assets in Indian banks. Market risk, brought on by fluctuations in interest rates and stock prices, presents another challenge, as seen in the recent volatility in the Indian market. Operational risk, arising from internal failures like human error, technology glitches, or cyberattacks, is also a growing concern, especially in the digital age.

    The Reserve Bank of India (RBI) emphasises the need for strong cybersecurity measures to address this threat. In fact, the apex bank recently started placing limitations on various lenders citing concerns related to IT infrastructure and information security practices. Therefore, a failure to adhere to evolving regulatory standards necessitates continuous adaptation by FIs.

    Limitations of Legacy Systems
    Enter Artificial Intelligence
    How AI Can Revolutionise Risk Management
    Hurdles to AI Implementation
    The Future of Risk Management

    Limitations of Legacy Systems

    Traditionally, risk management in Indian FIs heavily relied on manual processes and historical data analysis. While this approach was sufficient in a less volatile environment, its inadequacies are now glaring. An ever-changing regulatory landscape in India, with new laws and regulations being introduced regularly, plus the growing interconnectedness of the global financial system, with transactions and investments spanning multiple countries, has added another layer of complexity.

    In addition, the unpredictable nature of natural disasters and pandemics, which can have far-reaching economic implications, further complicates risk management. Legacy systems cannot keep pace with the dynamic nature of risk today.

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    Enter Artificial Intelligence

    The limitations of traditional risk management have created fertile ground for AI’s transformative power. AI, alongside automation and cloud technologies, is poised to accelerate digital transformation in financial services. AI’s secret weapon? Its ability to sift through vast amounts of data from unconventional sources. Financial statements, market trends, social media sentiment, and even weather patterns all contribute to AI’s analytical capabilities. This allows for a far more comprehensive and nuanced understanding of risk, identifying potential threats that human analysts, reliant solely on historical data, might miss.

    Recent advancements in generative AI further emphasise this urgency. According to EY, modernising core functions and platforms is a top priority for banks aiming to expedite digital transformation, with 58% focusing on this area. Furthermore, 78% of Chief Risk Officers (CROs) prioritise AI implementation—a sign of the industry’s growing appetite for this technology.

    The benefits extend far beyond individual institutions. A joint study by National Business Research Institute and Narrative Science reveals that 32% of Indian financial service providers already leverage AI for tasks like voice recognition and predictive analytics. Major banks in India are actively employing AI to streamline operations, and a report by Accenture indicates that 83% of Indian bankers believe AI will collaborate with humans in the near future. JP Morgan Chase has developed the Contract Intelligence (COiN) platform, which can analyse legal documents in seconds, extracting key data points – a task that would take humans hundreds of thousands of hours. Not only is AI faster, but it is also demonstrably less prone to errors.

    AI’s reach is not limited to financial institutions. Regulatory bodies like the Reserve Bank of India can leverage AI to identify systemic risks within the Indian economic system. Real-time risk identification empowers regulators to take preventive measures, like adjusting interest rates, to enhance financial stability.

    Initiative Taken to Manage Implementation Risks of Generative AI By Organisations Worldwide as of 2024
    Initiative Taken to Manage Implementation Risks of Generative AI By Organisations Worldwide as of 2024

    How AI Can Revolutionise Risk Management

    AI’s impact on financial risk management goes beyond static risk estimation. By analysing historical data, AI can recommend dynamic portfolio diversification, proactively identify emerging threats, and adjust allocations to mitigate market risk. It can even simulate various economic and market scenarios to stress-test loan portfolios, helping institutions develop more resilient lending policies.

    Unlike traditional, static policies based on limited factors, AI and ML models can analyse every possible combination of variables, creating a powerful tool for credit managers. This allows them to simulate different policy settings and see the predicted impact on loan approvals. This data-driven approach empowers them to optimise conversion rates while minimising risk.

    The benefits extend beyond credit risk. Enterprises are leveraging generative AI as a virtual regulatory and policy expert. Trained on vast datasets of regulations, company policies, and guidelines, it can answer questions, identify compliance gaps in code, and automate regulatory checks – even providing alerts for potential breaches.

    However, with these advancements come policy considerations. Financial institutions must ensure the transparency of AI models’ decision-making processes to comply with regulations and maintain trust. Additionally, robust data governance practices are crucial to ensure the quality and security of the extensive datasets that power these robust AI systems.

    Hurdles to AI Implementation

    The potential of AI in financial risk management is undeniable. However, we need to address some key challenges to fully unlock this potential. One challenge is the constant game of catch-up regulators face. AI is evolving rapidly, and regulations often struggle to keep pace. This creates uncertainty for financial institutions and discourages broader adoption of AI in risk management.

    Another hurdle is the lack of standardised practices for developing and deploying AI systems. This inconsistency makes it difficult to ensure fairness, avoid bias, and most importantly, understand how AI reaches its conclusions. Without this transparency, trust is difficult to build.

    The financial sector itself faces its own set of challenges. The cost of acquiring, implementing, and maintaining sophisticated AI systems can be significant, especially for smaller institutions. Additionally, the effectiveness of AI hinges on high-quality data. Fragmented datasets and data privacy concerns can create significant roadblocks for institutions looking to leverage AI for risk management.

    The Future of Risk Management

    Despite these challenges and the ever-increasing volume of data, which presents a challenge for human analysis, it also creates a unique opportunity for AI’s implementation in India’s financial sector.

    Collaboration is crucial. Industry and regulators must work together to establish clear frameworks for responsible AI development and use in risk management. These frameworks should prioritise best practices, data governance, and Explainable AI (XAI) – tools that help us understand how AI models reach conclusions. This fosters trust and ensures ethical implementation.

    Despite AI’s automation capabilities, human expertise remains essential for interpreting results, making final decisions, and ensuring ethical applications. Therefore, upskilling the workforce becomes critical. Financial institutions must invest in training existing employees and attracting talent with AI, data science, and risk management expertise. This fosters a culture of human-AI collaboration, where AI amplifies human expertise while human oversight ensures responsible AI use.

    By embracing AI as a transformative tool in risk management, the Indian financial sector can navigate the complexities of modern finance with greater confidence. This shift paves the way for a more stable and secure financial future for all stakeholders – from individual depositors to credit-seeking businesses and the broader Indian economy.

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  • Discovering How AI Systems Personalise Courses for Students According to Their Preferences for Learning

    This article has been contributed by Muddassar Nazar, CEO, Birla Brainiacs.

    Education is the foundation of human progress since it fosters intelligence and imparts skills that last a lifetime. However, students often struggle with a range of interest and comprehension levels when taught using the typical one-size-fits-all strategy. If the subject isn’t engaging enough for them to study using the way they like, they can lose interest in it. This presents a challenge for educators who wish to offer inclusive, dynamic curricula. Because of this, Artificial Intelligence (AI) has become a disruptive force that is changing education by designing individualised learning paths for students based on their learning preferences.

    Education is no longer limited to physical presence, textbooks, and classroom walls. The recognition of AI’s potential by educational institutions has led to a wealth of digitally enhanced learning resources for both professors and students. In addition to offering engaging teaching methods and dynamic learning possibilities, these tools promote holistic growth and development. According to a Certified Market Research analysis, the growing integration of artificial intelligence (AI) into education technology is expected to propel the global market for AI in education to a compound annual growth rate (CAGR) of 45.21%, reaching $21.52 billion by 2028.

    AI in Learning: The Revolution’s Front-Runner
    The Emergence of Adaptive Learning
    Driven by information Insights
    Intelligent Teaching Systems (ITS)
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    AI in Learning: The Revolution’s Front-Runner

    Beyond doubts, AI in education has evolved from a fad to a need, enabling students to customise their learning and progress at their own pace. Personalised learning pathways may now be created thanks to artificial intelligence and individualised learning, which adapts learning opportunities to meet the needs of each learner. AI enables educators to differentiate instruction by providing them with the knowledge about each student’s strengths and limits. Instructors may tailor learning experiences to each student’s specific requirements, interests, and learning preferences by integrating AI technologies.

    Analyse further how AI may enhance students’ tailored classroom experiences according to their learning preferences:

    The Emergence of Adaptive Learning

    In India, AI-powered systems for adaptive learning are gaining traction. Based on each student’s success, these platforms modify the assignments’ and questions’ level of difficulty. These adaptive learning systems driven by artificial intelligence (AI) look at student data such as performance, areas of strength and weakness, and learning pace. Based on this information, the system may design a customised learning path for each student that includes resources, exercises, and content tailored to their individual needs.

    Driven by information Insights

    The fact that AI considers a variety of learning contexts, such as logical, visual, and aural preferences, is not surprising. Beyond learning preferences, AI continuously collects and evaluates data to provide teachers with information about the progress of their students. Because of this, educators can make significant inferences from this data to comprehend each student on a deeper level. They can then utilise these inferences to decide how best to customise their students’ educational experiences. This is made possible by artificial intelligence-driven analytics.

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    Intelligent Teaching Systems (ITS)

    Using intelligent teaching systems is one creative method Edtech is leveraging AI. By employing machine learning (ML) algorithms to adjust content based on student performance, these systems offer personalised learning. This approach meets a variety of learning demands, boosts engagement, and offers real-time feedback to create an interactive and personalised learning environment.

    Personalised Learning Strategies

    AI-driven systems offer students customised learning opportunities depending on their goals, interests, and prior knowledge. Through curriculum and speed adjustments based on student needs, these systems ensure that students receive the appropriate support and challenges to optimise their learning outcomes. While AI holds great potential, human educators remain crucial in creating supportive and inspiring learning environments. Artificial intelligence and human knowledge combined could lead to more effective and personalised training for each student.

    Transcend Mainstream Teaching

    There’s no reason to believe that artificial intelligence (AI) will stop permeating education. Thanks to modern technology, education can now be streamlined and made more interesting and personalized for both students and teachers. The era of AI-driven personalised learning has also come, drastically altering how pupils learn and how professors instruct them. Thus, the coming together of technology and education heralds a brighter future where each student’s unique skills are developed, leading to all-around development and outstanding accomplishments.

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  • How to Address Pricing Challenges: Balancing Affordability and Profitability in Specialty Medicine Sales

    This article has been contributed by Devashish Singh, Co-Founder, MrMed.

    The largest pharmaceutical companies are engaged in researching and developing therapies for super speciality diseases such as cancer, Alzheimer’s, osteoarthritis and other chronic conditions that are relatively rare and extremely complex. Cancer, for example, has various stages and medications change based on tumor proliferation. However, the genes of patients also play an important part in determining suitable medication, especially with the advent of promising therapies such immunotherapy and targeted therapy. As you can imagine, developing such targeted therapies by studying gene mutations associated with certain cancers is a long process with billions of dollars spent on research and development. Only a small percentage of promising lab work ends up getting approved for end patient use. An even smaller percentage ends up becoming a “blockbuster” drug, generating revenue and profits for pharmaceutical companies and everyone in the value chain. These R&D based drugs are patented and have just 10-20 years (depending on when and where the patent was filed) before generics are introduced in the market.

    However, the balance between profitability and affordability is a complex equation. Pharmaceutical companies need to generate profits from their “blockbuster” drugs to ensure continued infusion of capital to research and development while also keeping shareholder interests in mind. In fact, there have been occasions when large pharmaceutical companies take a merger & acquisition route when a “blockbuster” drug is expiring and the pipeline of drugs in various clinical stages or under R&D is not as strong. Therefore, free cash for such acquisitions are also part of contingency plans for pharmaceutical companies.

    There is absolutely no doubt that large multinational pharmaceutical companies focus on the North America, Western Europe, Australia and Japan markets, where the healthcare ecosystem is insurance driven and the overall cost of healthcare is 20X-100X that in India.

    However, pharmaceutical companies along with the government of India are slowly starting to introduce some of the patented therapies in India and adopt the below strategic approaches in reducing therapy cost:

    Value-Based Pricing
    Patient Assistance Programs
    Implementing Tiered Pricing Structures
    Preventive Care & Early Detection
    Transparency in the Supply Chain

    Value-Based Pricing

    There have been a few pilots on value-based pricing strategies, which involves setting the cost of medications in alignment with the benefits they deliver. This approach goes beyond basic economics of supply and demand and considers the tangible impacts on patient health, potential savings for healthcare systems, and broader societal benefits. Therefore, successful impact on the overall system generates higher profitability, which is a win-win. However, it is often difficult to agree upon the metric for “successful impact” and this involves building high trust.

    Patient Assistance Programs

    Patient assistance programs (PAPs), which are usually sponsored by pharmaceutical manufacturers are a vital step in saving overall therapy cost for patients. This is applicable in developing countries like India and is an initiative of pharma companies on request of various government and non-government organizations. The goal of these programs is to reduce the cost of therapy by providing free medication based on certain paid purchases. For example, through PAP, the cost involved in treating lung cancer through targeted therapy is reduced by 66%. My company, MrMed.in has helped thousands of patients enroll in patient assistance programs, which has truly changed lives.

    Implementing Tiered Pricing Structures

    Pharmaceutical companies employ tiered pricing strategies that reflect the economic conditions of different markets. Various factors such as GDP per capita, healthcare infrastructure and insurance coverage are considered when adjusting prices on a global level, making therapy more equitable. Either directly or through Patient Assistance Programs, the cost of therapy in India or China is very different from that in the USA or Japan.

    Pharmaceutical Companies in India
    Pharmaceutical Companies in India

    Preventive Care & Early Detection

    As the adage goes, “prevention is better than cure”. I would like to also add that early detection is still not a bad place to be at. The success rates are much higher and the cost of therapy is exponentially lower in earlier stages of disease, whether it be cancer, arthritis or chronic kidney disease. Therefore, annual screenings for breast cancer for women over the age of 40, and biennial screenings for those under 40. Similarly, genomic testing in consultation with a doctor experienced in genomics is also recommended. The government along with private organizations like MrMed have been conducted vaccination camps for cervical cancer wherein the HPV vaccine is administered to young girls and women, which will result in long term reductions in cervical cancer statistics. Regular health check-ups and a healthy lifestyle will not only reduce the prevalence of chronic diseases and the need for expensive treatment, but will also promote a healthier and more productive country.

    Transparency in the Supply Chain

    The most important aspect of improving affordability of super speciality medicines is to have a clean value-based supply chain. Neighborhood chemists and pharmacies do not hold these medicines in inventory due to lack of awareness, high inventory cost, special storage requirements and relatively lower demand in their particular catchment area. Therefore, the standard margins that generally dictate pharmaceuticals in India, do not apply for super speciality medicines. Often times, “special rates” are given to various distributors or other wholesalers based on volumes and ability to move inventory. This can often lead to differential pricing in the supply chain, with patients seldom benefiting. Through data analysis and inventory forecasting, supply side aggregation of “special rate distributors” and efficient marketing to generate demand, MrMed is able to reduce the cost of super speciality medicines by up to 85%.

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