Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 139th 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: Large language models
GenAI opens up a range of business opportunities in sectors like media and education. However, most of the current cases are in English and other Western languages. Where is the startup opportunity here for other languages?
Q2: Sustainability in retail
Industries across the board are trying to reduce their carbon footprint and move towards a circular economy. The retail sector is building sustainable supply chains for its clients. What else can they be doing here?
Q3: Carbon footprints
A number of organisations and even countries are setting ambitious targets to move towards net zero emissions. This requires tools to monitor and assess such progress. How can AI help here?
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Q4: Sports media
AI is transforming the sports broadcasting industry in a number of ways, such as boosting fan interaction with AI-driven platforms and using wearables to drive sporting performance. Where are other impact areas for AI in sports media?
Q5: Gadgets and mobiles
Consumer adoption of mobile devices is at an all-time high. But there are risks with damage to such devices when they are dropped or if water leaks on them. How can these challenges be tackled, and where is the entrepreneurial opportunity here?
Answers!
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!
A1: Large language models
Smallstep.ai is building large language models (LLMs) in the Indic language space, starting with Marathi. Existing LLMs are predominantly trained on English data, with only a small percentage dedicated to Indian languages, founder Sagar Sarkale observes.
“We aim to become the Shopify for multilingual AI apps in the education and media space,” he says.
Read more here about how India’s AI market is expected to reach $17 billion by 2027, according to a NASSCOM-BCG report.
A2: Sustainability in retail
Important sustainability initiatives in the retail sector can include removing waste from the value chain, ensuring product traceabilityand incorporating sustainable packaging, according to Anish Popli, Founder and CEO, ProcMart.
Retailers are using eco-friendly transportation methods like electric or hybrid trucks and containers to reduce carbon emissions.
Read more here about how biofuels or hydrogen as alternative fuels can also be promoted.
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A3: Carbon footprints
Founded in 2023 by Arjun Vijayaragavan, Mumbai-based KarbonWise leverages data engineering and AI expertise to measure carbon emissions. Its platform helps in aggregating, analysing and understanding data on carbon footprints.
Its automated carbon accounting processes assist in setting realistic targets, reducing emissions, and streamlining reporting requirements to ensure compliance.
Read more here about how GenAI can proactively recommend pathways and alternative inputs.
A4: Sports media
Digital technology is creating a more immersive and data-driven experience for fans, according to Sidhhant Agarwal, CEO and Founder of SportVot.
“AI algorithms make sure viewers never miss an important moment by automatically changing camera angles,” he observes.
“Real-time player and ball tracking makes it possible to instantly create various replay views to further improve the viewing experience,” he adds.
Read more here about how AI-powered statistical algorithms can analyse player performance and spot patterns the human eye might miss.
A5: Gadgets and mobiles
Gagan Maini and Subrat Pani launched OneAssist to offer affordable and dependable protection plans for devices and gadgets in use daily. Consumers benefit from doorstep convenience, high-quality resolution, on-demand assistance, cashless repairs, and affordable protection plans.
It has collaborated with a wide range of retailers, NBFCs, and fintechs. Read more here about its single unifying platform for all stakeholders in the value chain, and how it is now leveraging AI to offer better customer experience.
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 Swetha Kannan
