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Digitalization has led to multiple innovations, and offers wide-ranging scope for technology advancements. Towards this, industries across the spectrum from manufacturing to services have recalibrated their supply chain to match the evolving markets. In response to evident audience appetite for information and insights on the AI industry, Money control and CNBC-TV18 hosted an engaging virtual summit that brought together experts on the subject. In partnership with General Electric (GE), the inaugural edition of New HorAIzon Virtual Summit, organized by Money control, was held on October 6 and 7. Industry practitioners and observers spoke about the significance of digital technology and how it supports the world in finding efficient solutions in sectors including aviation, healthcare and renewable energy. With keynote speeches by Jyotiraditya Scindia - Hon'ble Minister of Civil Aviation, India and Bhupender Yadav - Hon'ble Union Minister of Environment, Forest, and Climate Change, the summit saw a massive turnout of over 1,300 attendees. Given the need of the hour, the summit focussed on ways of implementing artificial intelligence to devise solutions to problems such as healthcare in times of the current pandemic, and obtaining renewable energy in face of the dual crises of unprecedented shortage and climate change that we are facing. The summit delved on how AI can assist in perking up operations, delivery, and solving problems as quickly as possible. Speaking on how the nation is scaling new heights with the use of technology under the leadership of Hon'ble Prime Minister Shri Narendra Modiji, Scindia added, "Digital India began with a vision to use technology to ignite minds and serve people better. Technology has empowered lives through effective use of digital methods - using biometrics to deliver services to the poor, vaccinating the world's largest population in the shortest period of time. Therefore, our model is not only a technology-first model but a people-first and purpose-driven model. The next decade of India's progress is going to be directed by the digital investments that we make today. For us to be technology enablers, three tenets must be followed; the technology must be reliable, relevant and scalable." Yadav opined, "We all are well aware of how climate change has hastened the risk of rising global temperatures. In such a situation, it is the responsibility of every nation to embrace technological advancements that will help mitigate the looming crisis. We are all trustees of our land, and it is our responsibility to save the environment and foster it for our future generations. This initiative by CNBC-TV18, through the tough questions it raises and responses it presents, is bound to be a cornerstone in the development of efficient and sustainable environmental protection strategies." Speaking at the summit, Amit Phadnis, Chief Digital Officer, GE Healthcare, highlighted, "We have witnessed that AI techniques can help in achieving precision medicine and enable remote consultations. The pandemic pushed healthcare to accelerate its remote telehealth consultation processes, something that would have taken 4-5 years otherwise. You may be a doctor sitting in a super specialty hospital in a metro city and there may be a patient in a rural setting. Earlier, there would be no other way but for the patient to get attention from a big hospital if the care was really required. Now, the care can be delivered where the patient is and the expertise gap has been bridged, to some extent. That's AI-powered technology empowering lives." Danielle Merfeld, VP & CTO, GE Renewable Energy elaborated, "The most immediate and impactful action that we can take is growing the share of renewable energy used in our electricity consumption system as soon as possible. It is easier to generate renewable power now as the cost is not as prohibitive, and it has proven to be an economic advantage in the long run." All in all, Moneycontrol New HorAIzon summit scored a high point in its debut year from technology cohorts of experts from manufacturing and services industries. To watch the highlights / complete version of the summit, viewers may log on toThis story is provided by BusinessWire India.will not be responsible in any way for the content of this article. (ANI/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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