Artificial Intelligence can help Indian States to attract Large Businesses to set up in India exiting China!

In last few weeks, USA has openly been blaming China for the coronavirus outbreak. With considerable cases in Russia now and already reeling under the pandemic, UK is now extending support to the USA ideology to find answers behind the Covid-19 outbreak.

These new circumstances have cautioned large MNCs to look beyond China as their manufacturing hub, with India presenting itself as the best alternative to China.

Just to recap, India is the world's largest democracy, ranked fifth in the world’s largest economies, has a favorable business environment, with young educated workforce, got significant advancement in technological space, with huge availability of raw material and low cost labor; makes India the most attractive destination for large Multi-National companies looking to diversify their manufacturing capabilities. 

Indian state Governments have sensed the imminent opportunity and are offering various business friendly schemes to set up in India for companies exiting China. Indian Central Government supported the initiative and released INR 20 trillion economic relief package, which is among the largest economy stimulus package in world as of date.

The relief package will focus on providing relief to people affected by Covid-19 lockdown, MSMEs, Labourers and farmers, Middle Class and various Industries. The large stimulus package will also provide some resistance in case China depreciates its currency and makes it products cheaper. Indian Government intends to give money in the hands of the common people because they run the economy.

While these arguments makes India as most favorable destination for companies exiting China, the Questions is Will these large MNCs make India their second home?

But, that may not be so easy.

Large MNCs will look at existence of ancillary industries in India, Cheap Labor & Lower Cost, Higher output and quick turnover, competitive tax rates, political stability, better supply chain and a complete eco-system which is inclusive for manufacturing.

Indian States will need to ensure that they have adequate ancillary industries for supporting MNCs products, for example, for mobile manufacturing, different parts are needed; touch screens, camera modules, batteries, which is a must for India to become Self-reliant.

Indian States will work need to work with every industries to work collaboratively with these large MNCs to help them to customize their needs. For example, every custom part is a new product in itself, which especially in the beginning will need some adjustments. If any company first shipment of 10,000 LCD’s has a wire which turns out to be a little too long, these MNC’s may just send them back to the factory, and expect to receive the fixed units back within days,

China knew the importance of Artificial Intelligence and used it to its advantage to stay ahead. Now it is India’s turn to use its unmatched prowess in Technology and specifically in Artificial Intelligence to make Indian ecosystem to Collaborate effectively among states, companies, infrastructure, workforce and policy makers.

Artificial Intelligence Technologies; Machine learning, NLP, Deep Learning and Robotics; will help Indian States to get prepared better to become an attractive destination for Lanrge MNCs exiting China.  

◦  Smart Cities

Social Distancing will be a norm for some time now. Consulting of an AI system can significantly help Indian States to resolve issues of Social Distancing and provide better mobilization to People and company including public transport, smart parking, health services, Policing, security and waste management and so on. There are multiple ways that artificial intelligence can make smart cities and create a pleasant and convenient environment for businesses.

◦  AI powered supply chain

AI will enable domestic companies to get innovative add-ons to supply chain and logistics management solutions for businesses post lockdown. AI enabled Sully Chain Management tools will help businesses to manage demand and logistics in an environment that will automate processes under rapidly changing regulations under the covid-19 induced social distancing.

◦  Risk Assessment and Management

Artificial intelligence thrives when it needs to analyze historical data and generate predictive ones. Large MNCs will like to use machine learning in order to identify and potentially get one step ahead of future market trends, thus creating innovative future plans. Other things that analysts in this field can learn are the potential risks and how to conserve manpower. This way, companies have the power of managing risks and sometimes even preventing these harmful situations.

◦  Cyber Security breach & Cyber Fraud Detection & Prevention

Indian Government will definitively need to put stringent regulations for Cyber Security and Frauds, so Companies exiting China will be more confident to start operations here. Nowadays the majority of the transactions are taking place online. From small transaction, like deposits checks, and bill payment, to bigger ones, like getting approval for a loan etc. It is important for large MNCs to protect their data and secrets so that their companies are secure and have the right tools to protect them from security breach & frauds. Artificial Intelligence can help Indian Government to identify any suspicious cyber activities and tighten the security.

◦  AI in Agriculture to make it more aligned

Machine & Deep learning and Robotics will help Agriculture immensely by analyze data, provide decision support system and predictive analysis. Large MNCs produce will need predictable output from Indian farming. AI will help farmers to identify right time for seeding, Optimization of Fertilizers and Precision Spraying of Weeds among many other benefits.

◦  Warehouse Solutions to store and local distribution

Enhancement of Adaptability in the Warehouse, better safety, Data analysis and prediction analysis are some of the quick benefits, AI can provide with Warehouses. India storage and warehouse need optimization and that will attract large MNCs as they will see these as better infrastructure.

Artificial intelligence can enhance the precision of the order processing. The products are carefully picked from their location, packed, and shipped, all in just a matter of minutes. Moreover, the employees can oversee the whole route of the machine learning system, which adds a secondary error control. This can result in quicker shipping, boosting at the same time customer satisfaction.

◦  AI enabled Policing

Artificial Intelligence is an inseparable part of the future policing for law enforcement agencies, thus essential for national security and stability. The current reality is that Artificial Intelligence has been delivering excellent results in law enforcement already. Artificial Intelligence with Deep Learning techniques in real law enforcement scenarios can make the Indian Cities safer.

Large MNCs will look at social and national stability before they decide on setting up in India. Artificial Intelligence can play a vital part with other factors to attract companies to come to India and make it a Win-Win.