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Creators, platforms, AI: Test your business creativity with Edition 138 of our weekly quiz!

This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 138th quiz. Ready?

Creators, platforms, AI: Test your business creativity with Edition 138 of our weekly quiz!

Sunday June 02, 2024 , 4 min Read

Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 138th 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?

Check out YourStory’s Book Review section as well, with takeaways from over 355 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.

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Q1: The creator economy

Mastering the nuances of social media formats and analytics helps creators effectively market their content. But beyond reels and shorts, there are other creative approaches that can be tapped. What are some successful media entrepreneurs focusing on?

Q2: Cybersecurity

Cybersecurity risks present a growing challenge for the banking, financial services, and insurance (BFSI) sector. Cyberattacks are increasing in frequency and complexity. How can AI technology help protect data and systems here?

Q3: Financial literacy

The next generation of youth is technically savvy and has access to loads of online information, but finds challenges in finding credible resources about financial investing. Where is the entrepreneurial opportunity here, particularly for youth in smaller towns?

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Q4: Tech for restaurants

Restaurants can up their game by partnering with a range of food delivery apps. They can also leverage social media to improve their profile and ratings. But what new opportunities can they tap on the data frontier?

Q5: The EV wave

The next wave of mobility opportunities revolves around electric vehicles. This includes areas like advanced battery technologies and smart navigation. But there is more to this than vehicles – what else does the EV revolution encompass?

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Answers!

Congratulations on having come this far! But there’s more to come, answers to these five questions (below) and links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning, and happy creating!

A1: The creator economy

Renowned comedian Saloni Gaur has launched The Pariwarik Podcast to cleverly target listeners from three generations. The podcast series features Gaur along with her mother and grandmother as an extension of their daily humorous conversations.

Subjects include gender roles, marriage, fashion, and parenting, with thought-provoking opinions from three generations of the family. Read more here about her content strategy and the importance of effective marketing to attract audiences.

A2: Cybersecurity

“BFSI giants are embracing cutting-edge technologies like Generative Artificial Intelligence (Gen AI) to fortify their defences,” observes Sachhin Gajjaer, Managing Director and Founder, Sattrix Group. Gen AI can help tackle the sheer volume of alerts generated by legacy systems, overcoming alert fatigue and delayed responses.

“Gen AI can analyse vast amounts of data in real-time, identify anomalous patterns, and predict potential security incidents with high accuracy,” he adds. Read more here about Gen AI use in dynamic firewalls, behaviour-based anomaly detection, and automated incident response.

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A3: Financial literacy

The Fin One platform by Angel One aims to demystify the financial market for young investors in Tier II, III, and IV cities. It creates content that is cool, engaging and fun, with a ‘3 Es’ strategy—engage, entertain and empower.

“We’re here to spice up the way young India interacts with money—making it less about numbers and more about fun!" says Paarth Dhar, Vice President, Angel One. Read more about this financial education platform here.

A4: Tech for restaurants

“Digital transformation—spearheaded by cloud technology—is essential for restaurants aiming to future-proof their operations and sustain competitive advantages,” explains Ashish Tulsian, Co-founder and CEO, Restroworks. This includes leveraging data for dynamic menu pricing.

“Loyalty programmes in restaurants must be tailored to the customers’ specific needs, which vary across different dining experiences,” he adds. Read more here about how data-driven cross-selling and up-selling strategies can enhance revenue.

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A5: The EV wave

“The EV revolution isn’t just about vehicles; it’s about building a robust supply chain that supports the entire ecosystem,” observes Arjun Malhotra, General Partner at Good Capital. Charging infrastructure, design, and vehicle manufacturing are opportunity areas for startups.

“Companies such as Log 9 Materials, ION Energy, Exicom Power Solutions, and Magenta Power are already making significant strides in these areas,” he adds. Read more here about the need for a network of universally accessible charging stations.

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 Suman Singh