February, 22, 2024
Time

Pakistan: AI Journey, Challenges and Opportunities

Infostani International- Pakistan AI mentors suggest that industrialists can control high business costs by adopting Artificial Intelligence (AI), as investing in AI has the potential to significantly reduce business costs. This involves introducing automation, enhancing decision-making, increasing workforce productivity, and minimizing human errors.


AI Adoption in Pakistan: Challenges, Opportunities, and the Path Forward

The Express Tribune, sharing views, pointed out that the primary reason for the slow adoption of AI in Pakistan is the lack of available data. Pakistan lacks a large and comprehensive digital footprint, and most private and government organizations possess fragmented and decentralized data. AI, fundamentally relying on existing data for learning and utilizing advanced algorithms for decision-making facilitation, is mostly implemented on top of existing systems. Consequently, the masses in the country do not witness widespread AI adoption.

Zeeshan Aftab, Co-Founder and Managing Director of 10Pearls for Europe, the Middle East, and Africa (EMEA) region, emphasized that investing in AI has the potential to significantly reduce business costs through automation, improve decision-making processes, and enhance workforce productivity, minimizing human errors. AI also plays a crucial role in predictive analytics, improved personalization, and consequently, better customer service. However, successful AI implementation requires investments in technology, systems, and process automation. 

Strategic Implementation of AI for Business Growth and Adaptability in Dynamic Markets, and AI’s Role in Energy Cost Reduction for Industries

A strategic investment of this nature allows organizations to realign their business strategies in response to market dynamics. Rather than viewing AI merely as a cost-cutting tool, it should be seen as a catalyst for gaining a competitive edge and fostering growth. Failure to embrace AI may result in businesses being unable to adapt to evolving customer needs, ultimately leading to a loss of market share.

For industries grappling with high energy tariffs, Aftab suggested identifying key areas for reducing energy costs. This involves a strategic focus on renewable energy sources, deliberate load balancing, and the application of AI to recommend optimal geographic locations for capital expenditures (CapEx) investments, ensuring the highest return on investment. Additionally, AI can uncover opportunities for cost reduction in CapEx planning by analyzing market trends, customer preferences, and competitor offerings, enabling informed decision-making and proactive planning.

Pakistan: AI Journey, Challenges and Opportunities

AI Expert Ahsan Mashkoor Envisions a Transformative Future: Revolutionizing Sectors and Urging Government Initiatives for AI Development in Pakistan

Ahsan Mashkoor, an AI expert, expressed that the future of AI involves its integration into all aspects of our lives and modern industries. He believes the AI revolution will be more impactful and faster compared to any other technological revolution. AI can revolutionize various sectors in Pakistan, assisting in medical diagnoses in healthcare, providing personalized learning experiences for students through AI-powered tutoring systems in education, and benefiting citizens through AI adoption in government departments. 

Mashkoor highlighted that AI adoption is already prominent in finance, where algorithms are used for fraud detection and risk management. He stressed the importance of the government investing in AI education, research, and infrastructure, and emphasized that collaboration between government organizations, academia, and industry can create a conducive environment for AI development. Mashkoor expressed optimism that with initiatives like “Vision 2025,” the government is taking steps to prepare for the Fourth Industrial Revolution, and if implemented properly, it will greatly benefit Pakistan, according to Noman Said from SI Global Solutions.