Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 112nd 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: Warehouse efficiency
The rise of ecommerce has put severe pressure on warehouses in terms of consumer demand for quick deliveries. It is important to improve layout, positioning and retrieval of products, for example. How can technology help here?
Q2: Sustainability
Government regulation and educational campaigns help in increasing awareness about the environment. Organisers of large events like music concerts can also do a lot here by using more sustainable materials and installations. What’s another way of mobilising people for environmental causes?
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Q3: AI and finance
The world of online payments opens up a range of cybersecurity risks. Digital transactions leave footprints, which in turn leads to threats like ransomware. How can AI help improve security here?
Q4: AI and media
The rise of the internet, social media and smartphones transformed the production and distribution of content worldwide. Now AI is amplifying the media industry even more. In what ways is this happening?
Q5: Booking queries and responses
A well-designed site and app can make services like bus ticketing efficient and seamless. Following up with phone text alerts and email verification can also help. What’s an additional service that can make such business communication more safe and secure?
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: Warehouse efficiency
“To meet the demands of ecommerce, many warehouses are turning to automation. Robotic systems such as Robo-arms and three-dimensional ASRSs can pick and pack goods at incredible speeds, often outpacing human workers,” observes Sandeep Bansal, Chief Business Officer at Falcon Autotech, an intra-logistics automation company.
“These robotic systems can work around the clock, are less prone to errors, and can be reprogrammed to handle different tasks,” he adds. Read more here about how robots can collaborate with human workers, and how AI can be used to predict demand and optimise inventory levels.
A2: Sustainability
Aditi Veena (Ditty), a musician from Goa, is touring by trains and performing in open spaces to promote environmentally conscious concerts. The 34-year-old urban ecologist and indie musician completed her ‘Songs for Forests Tour’ last year.
“I feel a lot of us are afraid to look at the damage we have caused to the earth and its biodiversity,” she says. “I find in music the chance and the courage to evoke some difficult conversations about rectifying these mistakes,” she adds. Read more about her inspiring journey here.
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A3: AI and finance
“When you are making a digital transaction, we need to secure the entire ecosystem to make sure that there are no frauds,” says Nitendra Rajput, Senior Vice President & Head, AI Garage, Mastercard. He was speaking at YourStory’s TechSparks Delhi edition this week.
“By using AI, we have detected fraudulent transactions, safeguarding $35 billion in revenue over the last two years,” he adds. Read more here about the how the second-largest payment-processing corporation worldwide handles safety and security of transactions.
A4: AI and media
In the media sector, AI has the potential to disrupt in two ways, according to Suparna Singh, Co-founder and CEO, Frammer AI. AI enables the scalable delivery of content, making production more cost-effective.
AI also has the capacity to generate additional revenue streams. “Media companies that resist integrating AI risk missing out on a transformative shift comparable to past resistance to adopting the internet,” she cautions. Read more about the role of AI in video content production and other domains here.
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A5: Booking queries and responses
Verified caller identification services from Truecaller will enable users to instantly recognise verified business calls from online bus ticketing platform redBus, according to Priyam Bose, Global Head, GTM at Truecaller, and Saurabh Shakya, Head of Product at redBus.
Such services will enable customers to manage their travel bookings, including bus tickets and cab services, and learn about exclusive offers. Read more here about how such caller verification improves business call efficiency as well as reduce phone call-related frauds and scams.
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 Megha Reddy
