BizLabsNXT Digital AI Conclave 2021: An Open Innovation Platform of the Aditya Birla Group

BizLabsNXT is a unique platform from Aditya Birla Group that bestows innovative enterprises with the ability to solve real business challenges at commercial scale. It enables start-up businesses and innovators to gain market access by leveraging the Group's reach.

The platform manifests the Group's desire to enhance collaboration with the innovation ecosystem in order to provide visibility of early trends, encourage disruptive ideas, and implement novel solutions to address business pain points.

Through various innovation programmes, BizLabsNXT provides a stage for the brightest minds to showcase best-in-class solutions for real-life problems. The BizLabsNXT platform aims to build around the 'Innovation Themes' of technology innovation, consumer/customer centricity, sustainability and product/process innovations. The platform hosts several events, including Hackathons that provide an opportunity to start-up owners and students to accelerate their skill development, learn new technology, and network with the best.

BizLabsNXT also gives seamless access to industry leaders through the Group's global reach and business expertise through curated events. The Digital AI Conclave, 2020, was one such event that allowed people to interact with business leaders on technology and innovation.

The conclave, held between January 28 and 29, brought together top minds from across industries, academia, and start-ups to deliberate on curated themes brought forward by the ABG companies. Based on three key pillars – Inspire, Interact and Innovate – the conclave hosted 40+ sessions on six broad themes which address business priorities in a post-COVID world.

The live sessions provided the attendees with a chance to listen to eminent speakers and industry stalwarts, engage in stimulating conversations with leaders and peers, and deliberate on current challenges and build scalable solutions for them. Besides, it offered varied engagement and networking opportunities through multiple formats such as keynote addresses, panel discussions, fireside chats, innovation showcases and start-up pitches.

Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, gave a rousing start to the proceedings with his inaugural address on the changing business landscape and the power of innovation. Mr. Birla said, "The only sustainable answer to navigating volatile surroundings is the innovation mindset."

The only sustainable answer to navigating volatile surroundings is the innovation mindset.

Mr. Kumar Mangalam Birla  
Chairman - Aditya Birla Group

The event was a melting pot of stimulating ideas and conversations. In a fireside chat, Mr. Arvind Krishna, Chairman and CEO, IBM, deliberated on the innovation mindset with Mr. Shrijeet Mishra, Business Head and Chief Innovation Officer, ABG. Mr. Krishna opined, "Spurring extraordinary ideas are only possible at a wider ground. You cannot assume that innovation will come from one party. You have to diversify."

Spurring extraordinary ideas are only possible at a wider ground. You cannot assume that innovation will come from one party. You have to diversify.

Mr. Arvind Krishna 
Chairman and CEO - IBM

Mr. Sanjiv Mehta, Chairman & Managing Director, HUL, elaborated on the broad ramifications of the core digital services such as IT, business process management, digital communication services and electronics. He maintained that "Digitisation will benefit different sectors in the country and play a critical role in the quest to becoming a $10-trillion economy".

Digitisation will benefit different sectors in the country and play a critical role in the quest to becoming a $10-trillion economy.

Mr. Sanjiv Mehta 
Chairman & Managing Director - HUL

Assessing the potential of machine learning across industries, Ms. Navrina Singh, Founder and CEO, Credo AI, emphasised the need for accountable models. She commented on the role of regulation in AI, saying, "Regulatory compliance and brand reputation is a big risk that enterprises must consider as they scale AI throughout their business."

Regulatory compliance and brand reputation is a big risk that enterprises must consider as they scale AI throughout their business.

Ms. Navrina Singh 
Founder and CEO - Credo AI

There were also some stimulating panel discussions. The panel for 'Driving the Innovation Culture in the post-COVID World' consisted of eminent members from the ABG ecosystem and saw an interesting exchange of opinions. Dr. Santrupt Misra, CEO - Birla Carbon and Director - Group HR, maintained that "When employee exposure grows across the organisation, it will build a robust innovation culture." Mr. Satish Pai, MD - Hindalco and Director – ABMCPL, believes that "Innovation thrives when the organisational culture is open, transparent, and allows its employees to experiment. Rather than the technology, it is people that need to change."

When employee exposure grows across the organisation, it will build a robust innovation culture.

Dr. Santrupt Misra 
CEO - Birla Carbon

Innovation thrives when the organisational culture is open, transparent, and allows its employees to experiment. Rather than the technology, it is people that need to change.

Mr. Satish Pai 
Director, ABMCPL and MD - Hindalco

The participants' varied views threw up one common premise — that the future of technology and innovation belongs to AI and digital development. As Mr. Peter Diamandis, CEO, Zero Gravity Corporation, put it, "AI will be embedded in everything, and will transform every business and industry." His presentation was aptly titled 'The future is faster than you think'.

AI will be embedded in everything, and will transform every business and industry.

Mr. Peter Diamandis 
CEO - Zero Gravity Corporation

The two-day event provided an invigorating amalgamation of thoughts, ideas and opinions. It facilitated the preparation of a fertile ground for business to 'Inspire, Innovate, and Interact'.

Innovators, students and business incubators — please stay tuned for more such transformational events and ideas from Aditya Birla Group and the BizLabsNXT platform.