Bengal Chamber organises interactive session with Global Mobile Economy expert Anindya Ghose

Ghose is the Heinz Riehl Chair Professor of Business, Professor of Technology, Operations and Statistics, NYU Stern School, Professor of Marketing and Director , NYU Stern Masters in Business Analytics.

Ghose addressed the gathering  on Using Artificial intelligence and Block Chain to monetize the Mobile Economy.

According to Ghose, with regards to mobile economy, the two way exchange stands to benefit consumers and businesses as well.

In recent times there is emerging a gradual trend to shift from intuition based decision making to data based decision making, feels Dr. Ghose.

He said, "Business Analytics and Data science are being used to price products. China is way ahead of other countries in Artificial Intelligence. The very fact that top three CEOs in the world are Indians are proof enough that India has a huge talent pool of hard skills and soft skills particularly in leadership and management. However there is much to do with regards to infrastructure. Infra structure advantage help project start-ups.  Unlike in Europe Indian consumers are fast moving and more open about data and privacy."

"I am a huge advocate of market based system of data sharing between organisation and consumers were consumers should be rewarded for sharing data..  There is a massive potential of mobile economy which is $3.3 trillion. There are nine forces that shape the mobile economy which are location, time, context, omni channel, crowdedness, weather, trajectory, social dynamics and saliency. There has been a considerable shift in consumer mindset about privacy and data sharing," he added.

Ghose further said, "Artificial intelligence is a modelling technology that brings in large amount of efficiencies due to automation but also runs the risk of more income inequality unless dramatic steps are taken. AI can also lead to rise of socialism as sudden upheavals do, stated Dr. Ghose. Block chain is being used for data veracity and addressing fraud  in digital advertising. At the day end, data and privacy go hand in hand . Trust relationship is needed between organisations and consumer."

Debashis Sen, Additional Chief Secretary, Government of West Bengal present at the program, stated that "prices of mobile data is lowest in India and personal viewing screens are penetrating into the villages and therefore there is an economic opportunity for people in the department of IT and therefore due to this low cost and penetration we have to see what new avenues are coming in."

“Mobile repairing and inventory are areas that give opportunities for employment and income. The Bengal Hackathon organised by the government aim to provide solutions for real life problems that happen in city life. One such favourite item is Toto on call, that allows the operators to be in a shared economy through use of an intermediary. On similar models a recent start-up provided solutions for street side vendor marketing without smart phones to be part of shared economy" said to Sen.

Arnab Basu, Chairperson, IT committee of The Bengal Chamber stated, “The Bengal Chamber is extremely privileged to have a person of Dr. Anindya Ghose’s stature among us  and  it is indeed very  fortunate for us that he has used this occasion for the first time to address the home crowd on the subject of mobile economy .”