Intelligence, investment, impact: Test your business creativity with Edition 95 of our quiz!
This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 95th quiz. Ready?
Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 95th edition of the quiz, we present issues tackled by real-life entrepreneurs in their startup journeys.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs and innovators themselves actually did. Would you do things differently?
Effective AI in multiple languages calls for high-quality data sets in text, voice and video. How can such data sets be created quickly and cost-effectively, while also empowering those who help create such data sets?
Q2: Agricultural productivity
In the face of climate change and economic uncertainty, it is important to ensure security and efficiency for the agricultural sector. More R&D, government support, and technology interventions can help here. What are some other solutions and opportunities for this sector?
Q3: B2B ecommerce
The rise of digital marketplaces has become a dominant force in the B2B ecommerce ecosystem. The pandemic lockdowns and restrictions have also accelerated online buying behaviours. What’s another major trend in B2B ecommerce?
Q4: Business intelligence impacts
Business intelligence (BI), by leveraging real-time data insights, can help insurers detect fraud and suspicious behaviours. What are other some other benefits of BI in addition to risk management?
Q5: Fund managers and startups
Launching venture funds for startups is an important task for entrepreneurial ecosystem builders. Fund managers should have clarity on their sizes, types and positioning. What are some other important considerations for first-time fund managers?
Congratulations on having come this far! But there’s more to come—answers to these five questions (below), as well as links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning—and happy creating!
Founded by Vivek Seshadri and Manu Chopra in 2016, Karya provides AI-enabled digital work to people from marginalised communities across 22 states in India. It uses smartphones as a task platform to provide earning opportunities for low-income rural Indians.
Over 30,000 people have reportedly completed more than three million tasks with Karya and earned $800,000 in wages. Read more here about the democratic and livelihood opportunity in tasks like speech/text collection, validation, image/video data collection, and annotation for AI.
A2: Agricultural productivity
“India's Farmer Producer Organisations are vital to changing the lives of smallholder farmers and unlocking the economy's trillion-dollar potential as India's largest agri value chain enabler,” says Anilkumar SG, Founder and CEO, Samunnati.
In addition to collaboration initiatives at the supply level, it is important to focus on the demand side, according to Shireesh Joshi, Chief Business Officer, ONDC. Read more here about farmer collectives and e-commerce initiatives to improve innovation and efficiency in the agricultural ecosystem.
A3: B2B ecommerce
“From personalised product recommendations and dynamic pricing to improved inventory forecasting and automated customer support, generative AI is permeating all aspects of B2B commerce,” explains Swati Gupta, Co-founder of Industrybuying.
“Large B2B marketplaces, given their scale and digital-first DNA, are better positioned to leverage generative AI effectively, enabling them to adapt faster than smaller, traditional distributors,” she adds. Read more about tech trends in B2B ecommerce here.
A4: Business intelligence impacts
“By analysing historical customer data and interactions, insurers can create tailored products and services that meet individual customer requirements, leading to increased satisfaction and loyalty,” observes Anurag Sanghai, Principal Solution Architect at Intellicus Technologies.
“By automating manual processes, such as claims processing and policy administration, insurers can significantly reduce operational costs and processing times,” he adds. Read more about BI contributions to the insurance industry here.
A5: Fund managers and startups
“One of the primary things to consider before launching a fund is gaining deep, incisive knowledge of both the entrepreneurial and LP capital ecosystems,” advises Manish Kheterpal, Co-founder and Managing Partner, WaterBridge Ventures.
Having select, high-value, and high-conviction limited partners (LPs) on the cap table is another success factor, he adds. Read more here about the importance of having a well-differentiated investment strategy to stand out from the crowd.
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).
Edited by Kanishk Singh