Year-ender 2024: AI graduates from buzzword to go-to industry application

The year 2024 brought innovations in AI applications, from healthcare to fighting online fraud, and more. However, this election year also raised concerns about AI biases and deepfakes

We are in the age of data and algorithms. Much like how steam power, mechanised engines, and the use of coal reshaped the world in the 18th century, artificial intelligence (AI) is now redefining the nature of our work, reshaping economies, and altering our lives. This transformation is also unfolding in India, where AI is driving innovation across industries, shaping the country’s business landscape and impacting everyday life.

 

AI enhancing everyday life

 

Remember the last time you asked Alexa to turn on the mood lights in your living room, or told Google Assistant to remind you about your cousin’s anniversary? That’s AI working behind the scenes. This year, there was more. In July, Google Maps introduced an AI-driven feature in India to help four-wheelers avoid narrow roads. Google Maps’ AI model analyses satellite imagery and other data to estimate road widths and help navigate narrow, unpredictable roads across India.

 

 

It has also been a year that Jeff Bezos has spent deeply engaged in developing Amazon’s AI strategy, according to Rohit Prasad, Amazon’s AI head. Separately, Amazon’s India-arm announced a $120 million investment in manufacturing and AI startups in the country, expanding its Smbhav Venture Fund to $250 million.

 

In surveillance tech, Panasonic Life Solutions India introduced two products with advanced monitoring capabilities. The first is an AI-enabled high-zoom bullet camera, ideal for long-range surveillance in low-light conditions. The second, the X-series camera, features AI-based on-site learning analytics, allowing users or system integrators to customise the camera to monitor specific objects or areas of interest. Both cameras include AI-driven object detection features.

 

AI to strengthen national security

 

The Ministry of Science and Technology launched India’s first Artificial Intelligence (AI) Data Bank to drive innovation and strengthen national security. It will provide researchers, startups, and developers access to diverse, high-quality datasets for scalable AI solutions.

 

Speaking at an ASSOCHAM AI Leadership Meet this year, Union Minister Jitendra Singh said the AI Data Bank will support real-time analytics for satellite, drone, and IoT (Internet-of-Things) data to enhance national security. It will also support predictive analytics for disaster management and cybersecurity, in line with the government’s AI roadmap.

 

AI in efficient fraud detection

 

AI was also your ally in fighting online fraud this year, protecting both individuals and businesses from potential threats. Did you know that behind every purchase on e-commerce platforms, AI-powered due diligence solutions keep conducting risk assessments by analysing user behaviour, verifying identities, and reviewing account history? Ajay Trehan, chief executive of authentication company Authbridge says, AI is also continuously monitoring sellers to identify and mitigate any potential risks. 

 

Meanwhile, telecom major Airtel has launched India’s first AI-powered real-time fraud detection tool, the algorithm of which could identify and classify calls and text messages as ‘suspected spam’.

 

Earlier this month, the Reserve Bank of India introduced its AI/ML-based model called MuleHunter.ai to tackle the issue of ‘mule accounts’, which are used for financial fraud. These accounts help criminals launder money from cybercrimes. The model will use data from banks to identify fraud patterns more effectively.

 

AI transforming cancer detection

 

India today boasts of artificial intelligence tools that can analyse images and tissue samples to detect cancer sooner and more precisely. In April 2024, Business Standard reported Apollo Cancer Centre inaugurated India’s first AI-driven oncology centre in Bengaluru. The centre is working on offering precise oncology care, leveraging AI for accurate diagnosis, insights, cancer risk assessment, and treatment protocols.

 

Likewise, Apollo Radiology International announced its tie-up with Google recently to develop AI models for early detection of cancer. However, doctors acknowledge that AI is still in its infancy as a diagnostic tool, as the development of successful AI models may still take a long time.

 

AI in crosshairs: Deepfakes and disinformation

 

It has also been a year when AI platforms faced allegations of racial bias and historical inaccuracies. Google faced backlash when its AI platform, Gemini allegedly generated ‘unreliable and unsubstantiated results’ in response to queries about Prime Minister Narendra Modi, according to news reports. The controversy sparked concerns about the Google platform’s reliability, prompting the tech giant to issue an apology to the Prime Minister.

 

The 2024 general election in India saw a rise in AI-driven deepfakes and disinformation, with political parties using realistic fake videos, such as one of Prime Minister Modi dancing garba or a deceased politician endorsing a campaign. Not surprisingly, the Economic Survey 2023-24 cautioned on the advent of artificial intelligence and its impact on India’s economy, mentioning AI poses both risks and opportunities for the young population in India.

 

What is AI?

 

Artificial intelligence is a machine’s ability to perform some cognitive functions we usually associate with human minds.