Have you ever wondered where you rank in data maturity?
At the end of the day, data-driven decision-making is what it all boils down to. To be able to imbibe data in a way that you collect, use, and apply it to do path-breaking work, is when you are using data to its maximum potential. When data-driven decisions are an intrinsic part of the organization's culture and work-flow, when you have the right personnel in place, and use tech to drive data-based decisions, when you use data beyond just analysis, and use it to your competitive advantage is when you become data mature. We discussed all the stages of data maturity in our blog post this week. If you are keen on acing your data game, this is where you must begin.
If you have read or seen Moneyball, based on the Oakland Athletics baseball team and its general manager Billy Beane, you would know how a small budget team won big riding on analytical and evidence-based stats using sabermetrics. In what sparked great controversy back in 2002, Oakland Athletics used player performance analytics to their advantage when pitted against rich competitors in Major League Baseball. Nineteen years on, we are only witnessing quantum leaps in the use of AI in sport.
Did you know it took 47 years for the computer to win a chess match and another 20 years to become unbeatable. To put it succinctly, AI is now part of almost every professional sport from Golf to Chess to Formula One. Everyone from the players to the coaches are on the quest for deeper insights, that can take their game to the next level. Even the referees seek assistance for those game changing moments in a crucial match. Within the last decade, AI is proving to be source that can address almost all such requirements. The AI based technologies are evolving at a great pace from generating insights on fan engagement to talent identification. However, it is imperative that any sport organisation should plan, execute and closely follow any new AI technology’s trajectory for desired outcomes.
While it would not be alien to imagine sports statistics using AI, the technology has now entered locker-rooms too. In another blog, we explore the various arenas of sport to which AI is applied to deduce if we are headed into a future where a data-backed approach will change sports as we know it today.
In fact, a few years back, in 2018, we had published an interesting piece about how we used Wikipedia entries to predict the winner in the 2018 FIFA World Cup. You could read it here.
As always, we end this newsletter with a dose of humor.
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Video editing and film-making
If you have ever been in the business of video editing, especially when a famous celebrity was involved, and no matter how much you try to salvage the video, you cannot; deepfakes will help with that clip and your video will be made uninterrupted. Earlier, movie directors would spend millions on creating the perfect location for their movies. This is now achievable with a far lesser sum using deepfake and AI. Deepfakes can be real game-changers in film-making. Imagine new movies starring Charlie Chaplin opening to full houses. This, ofcourse, after all the copyright issues are taken into consideration..
What is the brand which comes to people's mind when they think about purchasing consumer electronics- is it Reliance Digital Retail Ltd.? Has Xiaomi Technology finally positioned itself as a premium brand? What is common between multi-brand electronic retailers and the people who visit them? What is consumer mindset of someone who wants to purchase consumer electronics and what other places these people go to and what are their brand affinities like?
Sherlock AI (powered by Infinite Analytics) looks into all the people who visited consumer electronics stores in the month of October and connects the dots. Take a 3 minute journey and understand consumer mindset of electronics buyers analytically!
Did you know that jewelry stores’ visitation went up by 125% during the Dhanteras weekend? Sherlock AI analyzed all consumers who visited jewelry stores pan-India and revealed that though typical weekend footfall surges in Jewelry shops is around 16%, the Dhanteras weekend contributed to a whopping 125% surge! WHOA!
Indians have always preferred gold as an asset class and an investment vehicle. With Dhanteras being among the most auspicious occasions to buy gold, Indians did indeed flock to the ‘market’ to buy gold.
It’s most obvious in the digital media space, from click buys to personalized web experiences. For marketing, the AI journey has just kick-started, while in the tech sector it has been applied for a while now. We are still at an early stage where inroads are being made into AI content via chatbots and even some explanatory content creation but what will make anyone jump up and embrace it is when we will start seeing a lot of mainstream content being created by AI.
Prior to joining Infinite Analytics, Richard served as the CFO of CrowdFlower, COO and CFO of Phoenix Technologies, as a member of the board of directors and chairman of the Audit Committee at Intellisync, and previously as CFO and executive vice president strategy and corporate development at Charles Schwab.
Pravin Gandhi has over 50 years of entrepreneurial operational and investing experience in the IT industry in India. He was a founding partner of the first early stage fund India - INFINITY. Subsequently a founding partner in Seedfund I & II. With over 18 years of investing experience, he is extensively well networked in investment and entrepreneurial scene and is an active early stage angel investor in tech & impact space. Pravin holds a BS in Industrial Engineering from Cornell University, and serves on the board of several private corporations in India. He is on the board of SINE, IIT Mumbai Incubator.
Puru has his Masters in Engineering and Management from MIT. Prior to MIT, he worked with Fidelity Investments building electronic trading products and high volume market data processing applications. He has completed his BE from VJTI, Mumbai.
Deb Roy is Professor of Media Arts and Sciences at MIT where he directs the MIT Center for Constructive Communication, and a Visiting Professor at Harvard Law School. He leads research in applied machine learning and human-machine interaction with applications in designing systems for learning and constructive dialogue, and for mapping and analyzing large scale media ecosystems. Deb is also co-founder and Chair of Cortico, a nonprofit social technology company that develops and operates the Local Voices Network to surface underheard voices and bridge divides.
Roy served as Executive Director of the MIT Media Lab from 2019-2021. He was co-founder and CEO of Bluefin Labs, a media analytics company that analyzed the interactions between television and social media at scale. Bluefin was acquired by Twitter in 2013, Twitter’s largest acquisition of the time. From 2013-2017 Roy served as Twitter’s Chief Media Scientist.
Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and Senior Fellow at the Stanford Institute for Human-Centered AI (HAI), and Director of the Stanford Digital Economy Lab. He also is the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR), Professor by Courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a Research Associate at the National Bureau of Economic Research (NBER).
Akash co-founded IA while studying for his MBA from MIT. Prior to MIT Sloan, he co-founded Zoonga. Before this, Akash was an engineer with Oracle in Silicon Valley. He has completed his M.S from University of Cincinnati and B.E from the College of Engineering, Pune.