TMI BlogMSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML)X X X X Extracts X X X X X X X X Extracts X X X X ..... MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML) - By: - CSLalit Rajput - Corporate Laws / IBC / SEBI - Dated:- 21-10-2020 - - Key highlights: MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML) strengthening its Single Window System Portal Champions to assist MSMEs of the country Ministry implements AI ML tools to get ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... insights into MSME related issues and grievances for their quick and effective resolution; AI ML analytics can be seen at the AI Corner at following link on Ministry s champions portal. Link: Click here MSME Ministry has implemented AI ML on its robust Single Window System 'Champions' which was launched by the Prime Minister on 1st June, 2020. This multi-modal system ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has a portal at virtual level and technology equipped physical control rooms at around 69 locations of the country. It has emerged as one of the front runner platforms for the MSMEs in a very short span of time. Ministry has implemented Artificial Intelligence (AI) and Machine Learning (ML) on their Champions portal. Technology Company Intel is their partner in this journey. About AI: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AI is the idea of making machines capable of thinking, acting, and learning like humans. It has an ability to enable machines to Learn, Adapt Do which Rule-based (MIS) Automations cannot. Implementation of AI: AI has started giving the MSME Ministry social media insights relating to MSMEs for its policy action through Facebook, Twitter, Instagram, Blogs, Forums and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... online News which were not available to us on holistic basis; Ministry says that till now, for grievance redressal, we were dependent on the complaints and data which comes to and through our CHAMPIONS portal. Now, we are able to know the pulse of the entire MSME Sector even without the stakeholders going to our portal; Ministry officials say that now it will be possible to know the emotion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the people involved with or dependent on the MSME sector in real time; Moreover, AI tools present Data-driven insights that are easy to understand. They can slice and dice data in many ways which are not available in traditional tools of Information Management Systems (MIS); This allows even our ordinary staff, not just specialists, to easily discover actionable points. The data Anal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ytics can be easily shared as real-time live-data links with the teams at Central (Hub level) and spokes of CHAMPIONS Control Rooms spread all over India, an officer said; Ministry feels that now onwards, the AI is going to do the tedious work of preparing data for analysis; thus, freeing up their human resources to engage in more productive work. MSME Ministry has started: Ena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bling and Optimizing their Champions portal with AI Analytics technology to derive insights; This is helping them in understanding the issues in real-time which includes information intelligence and sentiment analysis based on widely available Social media and Online data. This input intervention will enhance our information resources on the one hand and free our human resources on the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther, an office said. Ministry of MSME also said that now the next phase is relatively easier for which the trial is on. The second phase would be directed towards real-time grievance redressal and management. This includes: Increasing the performance of control rooms officers through AI enabled Chat Bots for faster response to the query of portal users; Give Real-time, detailed analyti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cs across entire workflow of its single window system and grievance redressal through Champions portal for effective resolution and greater stakeholder satisfaction. - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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