‘If data is the new oil, machine learning is the refinery’ – 25 quotes of the week on digital transformation

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week. This special series of quotes focuses on the increasing impact of digital media in India and around the world (see the previous post here). Share these 25 gems and insights with your colleagues and networks, and check back to the original articles for more insights.

AI-based content marketing is a fast-growing segment globally with a $70 billion market size. - Apoorv Ranjan Sharma, 9Unicorns

Social commerce is seeing the light of the day and taking over other sectors with the growing demand for online retail therapy and virtual showrooms coming into play. - Neha Suyal, Woovly

If data is the new oil, machine learning is the refinery of these large datasets. - Toby Walsh, ‘2062: The World that AI Made’

When you look at how technology can create deep personalisation and engagement - the canvas for applying cutting edge innovation from various fields becomes limitless. - Puneet Tanwar, upGrad

Without high-quality, affordable assistive products, people suffer exclusion, are at risk of isolation and poverty, and may become a burden to their family and society. - Patanjali Dev Nayar, WHO/SEARO

Entrepreneurs must first speak to these end-customers to understand their pain points and verify if their perspectives match. - Logesh Velusamy, Effitrac

The opportunity is as vast as a broad canvas, it is up to us to paint the story we want to paint. - Vijay Swaminathan, Draup

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The online gaming industry in India is growing tremendously and is expected to multiply at an unprecedented rate. - Yogesh Doiphode, PlayerzPot

The ongoing cricket season is the biggest this year in terms of user engagement within the Fantasy sports genre. - Sudhanshu Gupta, Paytm First Games

Cricket is a religion in India; one can find an armchair expert in every living room. - Suhail Chandhok, SuperCric

If the last 20 years were dominated by IT services, the next 10 will belong to simple, product-driven, developer-focused companies. - Saravana Kumar, Kovai.co

A lot of the milk produced either deteriorates in quality by the time it reaches the consumers or simply goes to waste. Right now, India has a total cold storage capacity which is far less than what is required. - Ranjith Mukundan, Stellapps

India has a huge divide in terms of care provided in the rural areas and there is a huge push by the government to solve this with the new NDHM policies. - Nived Narayanan, Prescribe

Our cities need to be ready for the convergence of the physical and digital worlds. - PM Narendra Modi

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India has a lot of culture that needs to be curated. There is a lot in terms of music, movies, animation, gaming, etc. - Rana Daggubati, South Bay

While many online platforms have come up, very few are creator-driven and run by a person whose brand identity is attached to it. - Saloni Srivastava, HustlePost Academy

The rote learning will come to an end and schools will focus on holistic education, preparing students for the future. - Shekhar Bhattacharjee, DALHAM Learning

Even after a decade of digital transformation, we still do not see local institutes adopting online exam platforms. - Dishant Gandhi, Gradeazy

There is no organisation (for-profit or non-profit) that can translate one million videos in 20+ languages in a year. - Hassan Amin, VideoWiki

Times have changed and now children movies are slowly coming to the forefront. - Sonali Bendre, International Kids Film Festival

Affiliate programs allow brands to attract more traffic by tapping into other people’s users. - Manu Gupta, ET Medialabs

Smaller teams can move mountains when focused on a problem. - Laks Srini, ZeroDown

We have seen people spending more on white labels than national brands because they are slightly cheaper. - Saurabh Kumar, Founder, Grofers

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The ongoing COVID-19 pandemic has accelerated the transition from physical, paper-based processes to online, digital-by-default processes. - Kartik Mandaville, SpringRole

Some functions don’t work well remotely. You have to understand your team’s capabilities of how they work together. - Anu Hariharan, YC Continuity Fund

The pandemic showed us that work can be handled seamlessly from anywhere in the country because of telecom infrastructure. - Radhika Ramesh, Capgemini

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).