Microsoft explores AI impact and opportunities on SL’s business landscape
In a rapidly evolving digital landscape, the transformative potential of artificial intelligence (AI) is reshaping industries, economies and societies worldwide. To delve deeper into this tool that is evolving at lightning speed, Mirror Business sat down for an exclusive interview with Microsoft India and South Asia President Puneet Chandok, during his recent visit to Colombo.
The discussion navigated through the profound implications of AI on the world and its specific relevance to Sri Lanka. Chandok also shared Microsoft’s pivotal role in empowering local communities, governments and organisations, with the transformative capabilities of AI technologies in the island nation.
Following are the excerpts from the interview:
How has AI evolved in the recent years and how successful has it been in the whole disruption process?
Currently, we’re at the early stages but customers are beginning to realise the need to change their perspective. Firstly, we now have a natural user interface. This means that instead of learning the intricacies of machine language and machine learning, individuals can interact with machines using natural language, including English and local languages. This represents a significant shift.
There are models, which allow for connections and insights far beyond what was previously possible. When these advancements are combined, there is a multitude of interesting use cases that emerge, particularly in Asia and Sri Lanka.
One such example is the use of Copilot as a productive tool. Copilot is an AI assistant integrated into Microsoft 365, designed to assist with tasks such as email management, chat, meeting summaries and action items. Seeing the adoption of Copilot in Sri Lanka is particularly exciting.
These innovations offer several benefits. Firstly, they enable individuals to reclaim valuable time. For example, if we can save 20 minutes per person with a tool like Copilot, that adds up to a significant amount of time saved collectively. Secondly, there are numerous business applications, such as enhancing customer experience, improving call centre operations, streamlining processes and gaining visibility into supply chains.
Overall, there is a strong wave of innovation happening in Sri Lanka, both in terms of individual productivity tools and broader business applications.
You mentioned innovation in Sri Lanka. How can the local companies leverage on AI to improve their operations and competitiveness?
When considering AI, I like to view it as having two aspects: the numerator and the denominator of a math equation. The numerator represents use cases that directly impact the top line, such as helping you sell more, do more with customers and engage in cross-selling and upselling. These are the use cases that drive growth in businesses.
On the other hand, the denominator represents use cases that focus on cost efficiency and streamlining operations. For industries in India, Sri Lanka and South Asia, it’s crucial to consider both sets of use cases. For example, in the telecommunications sector, how can we improve churn management and retain customers using data? Another example is a company like Brand X, which manufactures and supplies garments globally. How can we predict their orders to expedite delivery and improve customer satisfaction?
There are numerous exciting use cases in both categories. For instance, improving call centre operations is a recurring theme. Every customer I meet raises the question of how to make call centre agents more productive. It’s about bridging the gap between customer experience and operational efficiency. With the right tools, call centre agents can have relevant information at their fingertips, allowing them to provide better service more efficiently.
This emphasis on training and empowerment does not necessarily mean a threat of job loss. Instead, it opens up opportunities for employees to be more effective and productive. By freeing up time and enabling people to work smarter, we can drive more sales and solve problems faster for customers.
Any unique opportunities and also challenges you see for AI adoption in Sri Lanka, compared to other markets? Where do we stand?
Let’s begin with the opportunity to address challenges, which I believe are consistent globally. While this isn’t unique to Sri Lanka, there are several exciting opportunities in the industry. For instance, I recently learned about how Microsoft technology was used for tea auctions in Sri Lanka during COVID. It was a remarkable demonstration of technology’s potential. Manufacturing, a significant sector for our customers, offers numerous opportunities for technological advancements, especially in AI. This includes optimising supply chains and improving demand planning using data, rather than waiting for customer orders.
Innovative ideas are emerging across various sectors. For example, in telecom, there are ideas for improving customer experience and reducing fraud. In microfinance, there’s potential for using data and AI to provide loans more effectively and assist with repayments, benefiting people across the country.
Regarding challenges, one major aspect is change management. We need to ensure that people are empowered to embrace new possibilities. One exciting initiative is the introduction of an AI curriculum in schools, starting with Prosperity Schools. This aims to equip the next generation with the skills needed to adopt technology more rapidly.
Another universal challenge is engaging with customers and partners. We recently organised an event, ‘Champions of Change’, where we brought together CEOs and board members to discuss the impact of technology on various sectors such as healthcare, banking and telecom. Working closely with partners to implement solutions is crucial in overcoming these challenges.
How do you plan to support the development of talent in the area of AI?
Our purpose in South Asia is to empower everyone. We aim to be Copilot to Sri Lanka, helping unlock productivity and realise the benefits of various use cases, especially in education. We are actively engaging with students, employees across corporations and our partners through initiatives such as boot camps and boardroom series. These efforts are aimed at ensuring that everyone understands and can leverage this technology to its fullest potential. We are fully committed to this endeavour and you will see a lot of progress in this area.
Can you elaborate on how you’re working with the local organisations and government in Sri Lanka to promote AI education adoption?
We are actively collaborating with the local organisations and government in Sri Lanka to promote the adoption of AI education. Recently, we signed an MoU to ensure that AI technology and learning are accessible to students, which is a significant step forward. We continue to engage in various initiatives to drive this forward.
For instance, we recently organised a hackathon where students from different colleges showcased innovative solutions they developed using AI. These solutions ranged from aiding autistic and hearing-impaired children to stress detection technology that helps users manage their stress levels. These initiatives, including the Imagine Cup and hackathons, aim to ensure that the next generation and businesses use AI technology responsibly and effectively, with safeguards in place.
Additionally, we work closely with our partners to ensure that they have the necessary resources and support to integrate AI into their solutions.
At this point of time, how well is Sri Lanka’s regulatory environment geared for the successful adoption of AI?
It’s crucial for us to collaborate closely with industry bodies across Asia to ensure that our voice as technology innovators is heard by the governments and decision-making bodies. This collaboration facilitates a clear understanding of technological advancements and ensures that there is feedback and collaboration. We are committed to fostering collaboration, providing a clear voice and ensuring feedback mechanisms are in place.
Regarding AI, responsible and safe development is paramount. We prioritise building AI with the right responsibility, safety and safeguards. This approach is ingrained in our products and how we operate. We focus on building trust through privacy, removing biases and ensuring transparency and scalability. Governments play a significant role in this effort. We are encouraged to see many governments, including those with mature policies, engaging in conversations about AI policy. We actively provide input, feedback and ideas to these discussions to drive responsible AI development and usage.
So, what recommendations do you have for policymakers?
I’m truly excited about our collaboration with educational institutions and students, exemplified by the MoU we recently signed. This partnership is not just symbolic; it’s about empowering students across schools, colleges and companies with the knowledge and tools they need. I recommend expanding these efforts and working closely with partners to maximise our impact. We have a role to play in facilitating this transformation and it’s our responsibility to lend a helping hand.
Furthermore, it’s encouraging to see governments engaging with technology providers and industry bodies. We must continue to offer our insights, feedback and collaboration to tackle the challenges ahead. The purpose is clear, to leverage AI for transformative change. This presents a significant opportunity for Sri Lanka and other countries in Asia to lead the way in AI adoption. We have the technology at our fingertips; now, it’s about ensuring that it reaches every individual in a meaningful way.
What is your advice for the businesses in the region that are just getting excited about and exploring AI?
It’s crucial to continuously learn about AI. I spent six months immersing myself in its complexities and I often remind my teams that the opposite of knowledge in AI is not ignorance but the illusion of knowledge. We must recognise that AI is a rapidly evolving field. I encourage you and your teams to embrace learning, leveraging resources like Microsoft services and tools.
One such tool is Copilot, which simplifies AI assistance. Our vision is to have an AI assistant for every person, empowering individuals with the information they need at their fingertips. Imagine having a Copilot before an interview, summarising all relevant information within minutes. It’s a transformative practice that simplifies complex tasks.
Additionally, it’s essential to deploy AI at scale. Don’t hesitate or wait for the technology to mature; it’s already improving daily. There are numerous impactful use cases and case studies to learn from. As technology providers, we have a responsibility to bring these advancements to our customers, simplifying their experience and driving impact.
