Ministry of MSME leverages the power of AI/ML to strengthen MSMEs

The Ministry of MSME is leveraging the power of artificial intelligence (AI) and machine learning (ML) to empower the MSMEs across the country. It has taken Covid-19 as a challenge and is converting it into an opportunity with futuristic interventions. In a major initiative, the ministry has on boarded the latest IT tools of AI/ML for providing assistance and solutions to the issues of micro, small, and medium enterprises (MSMEs).

In this difficult period, the Ministry is not only whole-heartedly supporting the MSMEs and trying to convert this crisis into an opportunity, but is in fact making them break their barriers, make a paradigm shift and become champions.

The Ministry, in collaboration with Intel, has implemented AI and ML on its robust Single Window System ‘Champions’ which was launched by the Prime Minister on 1st June, 2020. This multi-modal system 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.

Advantages of implementing AI

Enabling and Optimizing their Champions portal with AI and 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.

AI and ML analytics can be seen at the “AI Corner” at the following link on the Ministry’s champions portal. https://champions.gov.in/msme_grievances/news_opinion/analytics.htm

After the first phase of implementing AI, the second phase would be relatively easier for which the trail is on going. The second phase would be directed towards real-time grievance redressal and management which 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 analytics across the entire workflow of its single window system and grievance redressal through Champions portal for effective resolution and greater stakeholder satisfaction.

The ministry is working aggressively to take the nation and the MSMEs in the direction of Industry 4.0. They are not only adopting the technologies categorized as part of Industry 4.0 but are also encouraging the MSMEs to adopt the same. They are also helping the MSMEs to manufacture its essential and enabling products like sensors, motors, computer displays and other animation technologies.

Also read: NSDC collaborates with LinkedIn to accelerate digital skills training for Indian youth https://www.nationalskillsnetwork.in/nsdc-collaborates-with-linkedin-to-accelerate-digital-skills-training/