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The business <a href="http://www.businessinsider.in/searchresult.cms?query=education">education</a> landscape in India needs some soul searching. It is because post liberalisation the market economy has had a greater demand for educational institutions to support a creative class but have they stood up to the challenge is a critical question that requires scrutiny. 
 At present, we often confuse between business and management education. Management education appears to be broader than <keyword id="1103660" type="ORGANIZATION" weightage="20" keywordseo="Business-education">business education</keyword> as tools and techniques employed for management can be utilised in various domains and are not particularly confined to the business domain. Other domains where these can be applied include <a href="http://www.businessinsider.in/searchresult.cms?query=agriculture">agriculture</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=healthcare">healthcare</a>, education, etc. 
 
Nevertheless, in common parlance management and business education is treated synonymously. A crucial question to ask at this point is what should be the yardsticks of measurement of success of business/ management education? 
 These days often the underlying question that one looks at before joining a management/ business programme is the Return on Investment 'ROI' that one will get post one/ two years of study. Also 'Opportunity Costs' are factored in while making the consideration of pursuing business education or continuing in the present job role. While this is appropriate for a substantial number of the salaried class should these be the only yardstick for the success of a management or a <keyword id="107736" type="ORGANIZATION" weightage="20" keywordseo="Business-school">business school</keyword>? 
 
In the Indian context, one can categorise business or management education into three broad categories- The <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+bangalore">IIM</a> system, public MBA programmes under the university system and the private MBA schools/programmes that range from ISB's to some 'Dukaan' type colleges. All these operate between within the broader society. 
 
But what is it that they offer to students that pass out from these institutions? The primary thing they are supposed to provide is education. What has increasingly been observed is that they are being rated/ thought of in terms of their ability to get students placed. While placement is one of the criteria should it be the only criteria is for broader society to ponder on. Often research and development as well as ability to produce ideas worth scaling up are not given due weight for measurement of success of business schools. 
 
It is where the roots of the business education problems lie. It is because the primary role of a business school is not to produce managers alone, it is also to enable entrepreneurs who can become build businesses. The focus has been on creating employees rather than employers. Often one finds that the best colleges are not lauded for the research capability but in attracting the corporations which pay the highest salaries. One must look at what is being celebrated. 
 
Should we celebrate, the ability to build enterprises or capacity to attract higher salaries is a foundational question we must think through and answer. 
 The purpose of this piece is not suggesting that managers with higher salaries are not necessary for the economy but what is being suggested is that these should be an equal if not more celebration of the idea of entrepreneurs and <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> in the country. 
 
The yardstick for success should not just be the pay package of graduates from an institution but the number of new companies that a business school or management institution produces. 
 
It will help nudge students in the direction of risk-taking and new venture creation which is the cornerstone of a competitive economy. A robust economy requires celebration of both good managers as well as the entrepreneurs that aid in new venture creation. 
 
The government is doing its bit in supporting new venture creation with institutions like <a href="http://www.businessinsider.in/searchresult.cms?query=mudra+bank">MUDRA Bank</a> etc.; the need is for active support from the side of academics, media and society in celebrating risk takers and students wanting to create enterprises. Over the next decade, the future competitiveness of India will be determined by not only good managers but also by entrepreneurs who produce jobs in the economy. 
 
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya) 
 
 (Image: Thinkstock)

Role of business education in India in creating managers and entrepreneurs

<ul class="summary-list"><li>Suumit Shah, the CEO of the e-commerce platform Dukaan, laid off 90% of his support staff, replacing them with an AI chatbot. </li><li>He shared on Twitter that the new chatbot reduced customer support costs by 85%.</li></ul>The CEO of an e-commerce platform is getting absolutely roasted online for posting a Twitter thread saying the company laid off 90% of its customer support staff after an AI chatbot outperformed them.Suumit Shah, the 31-year-old CEO of Duukan, a Bengaluru-based company that helps businesses <a href="https://techcrunch.com/2021/09/05/dukaan-raises-11-million-to-help-merchants-in-india-set-up-online-stores/#:~:text=Dukaan%2C%20a%20one%2Dyear%2D,in%20the%20South%20Asian%20market" target="_blank" rel="noopener">set up their online storefronts</a>, <a href="https://twitter.com/suumitshah/status/1678460567000850450" target="_blank" rel="noopener">first shared the news on a Twitter thread</a> on 11 July."We had to layoff 90% of our support team because of this AI chatbot. Tough? Yes. Necessary? Absolutely," Shah wrote in a thread that's been viewed over 1.5 million times since being posted. In the thread, Shah wrote that an AI chatbot took less than two minutes to respond to customer queries, while his human support staff took over two hours.Replacing most of his customer support team with a chatbot reduced customer support costs by around 85%, he wrote.Shah told Insider the layoffs occurred in September 2022 and resulted in Duukan — which currently employs 60 people — letting go of 23 of the 26 members of its customer support team. In a conversation on Wednesday, Shah said his "monthly budget" for customer support is now $100. Insider could not independently verify these figures.But Twitter and Reddit users aren't buying the explanation. As of press time, more than 600 Twitter users had quoted his tweet, with the vast majority being critical of Shah and Duukan.Twitter user @adityarao310, whose tweet had accumulated more likes than Shah's own, <a href="https://twitter.com/adityarao310/status/1678602855996071938" target="_blank" rel="noopener">posted:</a> "Make no mistake. The support team was laid off here because business is failing and funding is dry. Not because of AI."Another user, @samikshagoel20, shared Shah's tweet, writing: <a href="https://twitter.com/samikshagoel20/status/1678653534601101312" target="_blank" rel="noopener">"How not to announce layoffs."</a>Meanwhile, Reddit user u/kakapoopoopeepeeshir <a href="https://www.reddit.com/r/technology/comments/14wmgor/dukaan_lays_off_90_of_support_staff_after/" target="_blank" rel="noopener">commented in a thread on Tuesday:</a> "I'm terrified of the future where we will never speak to a human again in customer support which means we will never get a problem solved, you'll just be passed around between bots."Responding to the online backlash, Shah told Insider that he regretted kicking off a conversation about layoffs on Twitter but was adamant that his point still stands. "AI is taking our jobs," he said."Over time, everybody will start doing this. It's not just us. Maybe I'm just too straightforward to have put it on Twitter," Shah added.Dukaan is far from the first company to announce lay-offs as a result of AI, a trend which is likely to continue, <a href="https://www.businessinsider.com/jobs-lost-in-may-because-of-ai-report-2023-6" target="_blank" rel="noopener">according to a May report</a> by human resources firm Challenger, Gray, and Christmas.In May, Insider reported on another set of layoffs that sparked similar outrage when the US National Eating Disorder Association laid off its entire helpline staff and <a href="https://www.businessinsider.com/eating-disorders-nonprofit-reportedly-fired-humans-offer-ai-chatbot-2023-5" target="_blank" rel="noopener">replaced them with a chatbot</a>. Soon after, the chatbot was disabled for <a href="https://www.businessinsider.com/eating-disorder-helpline-disables-tessa-chatbot-harmful-responses-2023-5" target="_blank" rel="noopener">giving out harmful information</a> on eating disorders.

An e-commerce CEO is getting absolutely roasted online for laying off 90% of his support staff, after an AI chatbot outperformed them

<ul class="summary-list"><li>22% of US workers say they worry technology will replace their jobs — an increase from 2021, Gallup says.</li><li>Workers with concerns tend to be young, college-educated, and make under $100k a year.</li></ul>Some American workers are becoming increasingly worried that technology may be coming for their jobs, a new poll suggests.In August, <a target="_blank" href="https://news.gallup.com/poll/510551/workers-fear-technology-making-jobs-obsolete.aspx?utm_source=alert&amp;utm_medium=email&amp;utm_content=morelink&amp;utm_campaign=syndication">Gallup conducted 1,014 phone interviews with US workers over the age of 18 across different levels of employment</a> to understand the concerns they have about their jobs.<a target="_blank" href="https://news.gallup.com/file/poll/510566/20230906WorkerWorries.pdf">Out of the 1,014 workers interviewed</a>, 22% of them say they worry technology will make their jobs obsolete — a fear that went up seven percentage points from when the survey was conducted in 2021, Gallup's researchers found.And when considering just college-educated workers, the rise in worry is even sharper: from 8% who were worried in 2021 to a whopping 20% who are worried today, the poll says.The fact that more college-educated workers are worried about losing their jobs to technology may, in part, be thanks to the rise of powerful artificial intelligence tools like <a target="_blank" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">OpenAI's ChatGPT</a> — the conversational AI-chatbot that can perform job tasks like <a target="_blank" href="https://www.businessinsider.com/marketing-industry-using-ai-save-time-money-boost-productivity-study-2023-6">writing marketing copy</a> and <a target="_blank" href="https://www.businessinsider.com/chatgpt-amazon-employees-use-ai-chatbot-software-coding-customer-questions-2023-1">developing code</a>. The rapid development of generative AI technology, the Gallup researchers say, "may be changing the stereotype of what computers can do in the workplace.""Amid such change, it's understandable that US workers, particularly those with college degrees, are more worried about what technology could mean for their careers," the Gallup researchers said in commentary accompanying the poll.But it's not just employees with bachelor's degrees who feel this way. Younger workers of all education levels between the ages of 18 to 34 were also found to be more concerned with losing their jobs to technology compared to older workers over the age of 35 within the poll's two-year time frame. The same goes for workers who earn less than $100,000 a year compared to those with an annual salary of $100,000 or more.Even though more workers may now "be looking over their shoulders" at AI and other technological developments, replacement by robots is not their main employment concern. The survey incicated 31% of respondents worry they could <a target="_blank" href="https://www.businessinsider.com/google-facebook-cut-perks-employee-benefits-tech-workers-wont-quit-2023-5">lose their benefits</a>, like healthcare and paid vacation days, in the future, and 24% of respondents say they're scared about seeing <a target="_blank" href="https://www.businessinsider.com/tech-workers-willing-pay-decrease-high-salaries-remote-layoffs-survey-2023-6">a reduction in their wages</a>, followed by <a target="_blank" href="https://www.businessinsider.com/layoffs-sweeping-the-us-these-are-the-companies-making-cuts-2023">layoffs</a> and a <a target="_blank" href="https://www.businessinsider.com/labor-shortage-small-businesses-cutting-opening-hours-losing-revenues-employment-2021-10">cut in operating hours for businesses</a>.Gallup's findings on worker attitudes toward technology come as experts and tech leaders alike have reignited a debate around whether AI can really replace employees ever since ChatGPT came out last November. While a Goldman Sachs study from March found that <a target="_blank" href="https://www.businessinsider.com/generative-ai-chatpgt-300-million-full-time-jobs-goldman-sachs-2023-3">generative AI tools could affect 300 million full-time jobs worldwide,</a> some experts previously told Insider that AI will simply help <a target="_blank" href="https://www.businessinsider.com/how-to-use-chatgpt-at-work-job-save-time-ai-2023-2">workers save time</a> and <a target="_blank" href="https://www.businessinsider.com/chatgpt-jobs-at-risk-replacement-artificial-intelligence-ai-labor-trends-2023-02">be more productive</a>.There are signs that AI may already be taking over some of the workforce. A recent report from Challenger, Gray, and Christmas, a career transitioning firm, found that <a target="_blank" href="https://www.businessinsider.com/jobs-lost-in-may-because-of-ai-report-2023-6">almost 4,000 people who were laid off in May lost their jobs because of AI</a>.Emily Hanley, a freelance copywriter, said that <a target="_blank" href="https://www.businessinsider.com/lost-job-chatgpt-made-me-obsolete-copywriter-2023-7">the number of assignments she usually gets may have dwindled</a> because clients are turning to ChatGPT to do their writing for free. Matías S. Zavia, a writer and translator, said he was laid off from his job at Gizmodo en Español, the tech blog's Spanish site, after <a target="_blank" href="https://www.businessinsider.com/ai-chatgpt-jobs-replaced-by-tech-translator-2023-9#:~:text=A%20writer%20and%20translator%20says,a%20memo%20shared%20with%20Insider.">his former employer started using AI to translate the site's articles from English to Spanish.</a>Suumit Shah, the CEO of the e-commerce platform Dukaan, even said <a target="_blank" href="https://www.businessinsider.com/ai-chatbot-ceo-laid-off-staff-human-support-2023-7#:~:text=Suumit%20Shah%2C%20the%20CEO%20of,them%20with%20an%20AI%20chatbot.">he laid off 90% of his support staff in July because he replaced them with an AI chatbot</a>, a move he claimed reduced his company's customer support costs by 85%.Researchers at Gallup didn't immediately respond to Insider's request for comment before publication.

One out of 5 college-educated workers say they're worried about losing their jobs to tech — a big increase over 2021's poll

<ul class="summary-list"><li>Artificial intelligence is altering the workforce in unpredictable ways.</li><li>While companies and workers are beginning to embrace AI, some worry about its risks.</li><li>Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it.</li></ul>Artificial intelligence is already changing the workplace in ways we never could've imagined.Since <a href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">OpenAI launched ChatGPT, its conversational AI chatbot</a>, in November, many have used it to <a href="https://www.insider.com/chatgpt-fitness-ai-love-exercise-2023-5">lose weight</a>, <a href="https://www.businessinsider.com/chatgpt-travel-itenerary-vacation-costa-rica-errors-logistics-advisors-2023-3">plan vacations</a>, and even <a href="https://www.businessinsider.com/how-men-are-using-ai-for-dating-profiles-messaging-study-2023-6">land dates</a>.Now, some companies are embracing AI — though not without precaution — as business leaders begin to wake up to the technology's impressive capabilities. In a <a href="https://www.ibm.com/thought-leadership/institute-business-value/en-us/c-suite-study/ceo" target="_blank" rel="noopener">2023 IBM study</a> surveying 3000 executives on generative AI, 75% of respondents said it would give their businesses a competitive edge and 43% are using AI to make strategic business decisions. But not all workers are ready to use AI. In the IBM study, 57% of the executives said they had reservations about data security, while 48% said they were also concerned about bias. Nevertheless, workers and companies are starting to deploy AI for business purposes in myriad ways. <h2>Here are 10 ways AI is changing the workforce:</h2><h3>1. Workers are using ChatGPT to help do their jobs </h3>Workers across industries — from education to law — are using AI technology such as ChatGPT to automate their workflows to save time and boost productivity. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he <a href="https://www.businessinsider.com/chatgpt-workers-manage-emails-write-contracts-2023-6">used ChatGPT to fine-tune legal contracts</a> for clients. Shannon Ahern, a high-school math and science teacher, said she <a href="https://www.businessinsider.com/high-school-math-science-teacher-uses-openai-chatgpt-education-learning-2023-3">used the AI chatbot to generate quiz questions</a> and lesson plans.Others have used the chatbot to <a href="https://www.businessinsider.com/chatgpt-work-better-earn-more-money-2023-5">write listings for luxury real estate, assist in recruiting efforts</a>, <a href="https://www.businessinsider.com/chatgpt-hacks-reduce-workload-example-prompts-2023-4">draft social-media posts</a>, and <a href="https://www.businessinsider.com/chatgpt-amazon-employees-use-ai-chatbot-software-coding-customer-questions-2023-1">develop code</a>.In fact, many workers are even <a href="https://www.businessinsider.com/70-of-people-using-chatgpt-at-work-havent-told-bosses-2023-3">secretly using AI to help do their jobs</a>.At the beginning of the year, Fishbowl, a workplace-discussion app, surveyed more than 11,700 workers, including those from companies such as Amazon, Google, Meta, and Twitter, to gauge whether they used AI at work. Out of the 43% of respondents who said they used AI to accomplish their work tasks, 68% of them said they hadn't told their bosses they were using them.<h3>2. Companies are looking for ChatGPT expertise in their workers </h3>Companies across various industries — including healthcare, education, and insurance — are looking to hire workers with experience using AI.As of June, more than a dozen of companies were hiring workers on sites such as Indeed and LinkedIn with <a href="https://www.businessinsider.com/jobs-roles-companies-want-ai-chatgpt-experience-salary-2023-6#product-managers-7">ChatGPT expertise listed in their job postings</a>, paying as much as $800,000 a year for the skill. Executives at these companies told Insider that job candidates with knowledge of AI might be more productive, creative, and open to change than those without AI expertise. The move to hire AI-savvy workers seems to be gaining traction. In a recent survey from the job site Resume Builder of business leaders who were hiring, 91% of respondents said they wanted to bring on workers <a href="https://www.businessinsider.com/chatgpt-experience-wanted-by-employers-hire-study-2023-4" rel="">who knew how to use OpenAI's chatbot to save time and enhance productivity</a>.<h3>3. Employers are encouraging workers to learn how to use AI </h3>Executives are asking their workers to integrate AI into their workflows. That way, companies can save time and money on their business processes.Jensen Huang, the CEO of the chip giant Nvidia, said workers should learn <a href="https://www.businessinsider.com/ai-tools-turn-anyone-into-programmer-nvidia-ceo-2023-5?amp">how to use AI to improve their performance</a>."Everyone is a programmer now," Huang said during this year's Computex conference in Taipei, Taiwan. "You just have to say something to the computer." Akash Nigam, the CEO and founder of Genies, an avatar-tools company, previously told Insider he purchased ChatGPT Plus accounts for all of his 120 employees and encouraged them to <a href="https://www.businessinsider.com/ceo-buys-chatgpt-plus-accounts-all-employees-sees-productivity-boost-2023-5">make learning the AI chatbot a priority</a> so they could "effectively accelerate" their departments."You really got to find time to, like, learn this skill," Nigam previously told Insider. <h3>4. Job applicants are using AI to write their résumés and improve their applications </h3>AI can help you land your next gig by improving your job application.To test his company's recruiting efforts, Neil Taylor, the founder of Schwa, a communications consultancy, said that <a href="https://www.businessinsider.com/chatgpt-written-application-got-shortlisted-for-interview-recruiters-2023-1">he secretly submitted a job application written by ChatGPT to recruiters</a> at his firm and later learned that ChatGPT was one of the few applicants chosen for an interview. "It was more competent than a lot of the bad people who apply to us," <a href="https://news.sky.com/story/recruitment-team-unwittingly-recommends-chatgpt-for-job-interview-12788770" target="_blank" rel="noopener">Taylor told Sky News</a>.Insider's Beatrice Nolan conducted a similar experiment, in which she <a href="https://www.businessinsider.com/chatgpt-job-applications-hiring-managers-job-interview-candidate-2022-12?r=US&amp;IR=T">asked ChatGPT to write cover letters</a> for real jobs and sent the letters to hiring managers for them to review. The managers told Nolan they would've offered her an interview even though they said the letters lacked personality.AI enthusiasts have also expressed on social media how impressed they are with <a href="https://www.businessinsider.com/using-chatgpt-ai-write-cover-letters-job-applications-2023-2">ChatGPT's ability to write cover letters</a>, resurfacing a long-held debate on whether cover letters should be removed from the job-application process. <h3>5. AI is being used to make hiring decisions </h3>AI-assisted hiring is nothing new. For years, <a href="https://www.businessinsider.com/ai-chatgpt-hiring-ghost-interviews-job-search-weird-labor-market-2023-5">companies have used AI tools to screen résumés and cover letters, interview job candidates, and even analyze the speech and facial expressions of applicants to get a read on their personalities</a> — processes that experts say might not be fair when making hiring decisions. But some human-resources professionals say that generative-AI tools have helped them do their jobs better. Jasmine Cheng, a recruiter who left Amazon to start her own recruiting firm called Topknack, said she <a href="https://www.businessinsider.com/chatgpt-for-hr-job-recruiting-hiring-2023-4">used ChatGPT to do things such as finding job candidates</a> and creating interview questions, which she said saved her at least 10 hours a week. "With those hours back, I can reach more candidates, network, and even conduct more business development to get more clients, which leads to making more money," Cheng previously told Insider.<h3>6. Companies are using AI to write their performance reviews </h3>Managers may find writing performance reviews for their employees a tough task. But what if AI could do it for you?Companies behind HR-management software are starting to integrate AI features that can help managers write performance reviews that are fair, accurate, and personalized for their direct reports. For instance, Textio, an HR-management tool with an AI-assistant feature for performance reviews, is used by companies such as Hulu, Spotify, T-Mobile, and McDonald's, <a href="https://www.worklife.news/technology/performance-reviews/" target="_blank" rel="noopener">WorkLife reported</a>. AI-generated performance reviews are nothing new. In 2018, the cloud giant Oracle launched <a href="https://www.oracle.com/chatbots/" target="_blank" rel="noopener">Digital Assistant</a>, an AI chatbot that HR professionals can use to complete employee evaluations.AI expertise may also be taken into consideration during a performance review. Nigam, the CEO of the avatar-tools company, expects to make decisions on who gets promoted based on how well they know ChatGPT, he told Insider.<h3>7. Experts say AI could help make the 4-day workweek possible</h3>A four-day workweek may be on the horizon thanks to ChatGPT.<a href="https://www.businessinsider.com/chatgpt-ai-beginner-prompts-learn-the-tech-boost-career-2023-5">AI tools can help workers be more productive</a>, which, in turn, cuts down the time it takes to accomplish any given task — a "necessary condition for us to work less," Oded Netzer, a professor at Columbia Business School, previously told Insider.Carl Benedikt Frey, an Oxford economist, echoed the sentiment. He told Insider: "Any technology that increases productivity, ChatGPT included, <a href="https://www.businessinsider.com/how-ai-change-jobs-chatgpt-pay-remote-work-productivity-2023-6">makes a shorter workweek more feasible</a>." But some experts say that AI's prospective productivity gains may not shorten the workweek. Michael Chu, a partner at the McKinsey Global Institute, previously told Insider that employers might <a href="https://www.businessinsider.com/will-chatgpt-ai-make-4-day-workweek-possible-in-future-2023-3">expect employees to work even harder to maximize their output because of AI</a>.<h3>8. Companies are restricting their employees from using AI at work</h3><a href="https://www.businessinsider.com/chatgpt-companies-issued-bans-restrictions-openai-ai-amazon-apple-2023-7#accenture-doesnt-have-a-formal-ban-on-generative-ai-tools-a-spokesperson-said-14">Some companies have set rules around how their employees can use AI in the workplace</a>, in part, to protect their confidential data from being leaked. While firms such as Apple and Spotify have been said to restrict their workers from using AI, other companies, such as JPMorgan and Northrop Grumman, appear to have outright barred their employees from using the tech. "Although AI, including ChatGPT and other 'conversational' AIs, can be enormously helpful and truly transformative, we want to be smart about how we implement these tools to protect ourselves, our partners, our company's information and our user data," executives at iHeartMedia wrote in a June memo explaining why it's restricting its workers from using AI. <h3>9. Many are questioning whether AI will replace their jobs </h3>As AI becomes more advanced, many workers may be wondering whether the tech will replace their jobs down the line. A recent Goldman Sachs report on the state of AI found that <a href="https://www.businessinsider.com/generative-ai-chatpgt-300-million-full-time-jobs-goldman-sachs-2023-3">generative-AI tools could lead to a "significant disruption" in the labor market</a> and affect 300 million full-time jobs worldwide. White-collar workers — particularly people in law and those part of an administrative staff — are most likely to be affected by new AI tools, Goldman found. Other labor experts told Insider that workers in media, marketing, and finance — <a href="https://www.businessinsider.com/chatgpt-jobs-at-risk-replacement-artificial-intelligence-ai-labor-trends-2023-02">jobs that require writing and number crunching — were at risk of replacement by AI</a>. AI job replacement may already be occurring. Suumit Shah, the CEO of the e-commerce platform Dukaan, <a href="https://twitter.com/suumitshah/status/1678460567000850450?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1678460567000850450%7Ctwgr%5E4f3408fdab2a22ef4700fa46f8c94179040e6e07%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.businessinsider.com%2Fai-chatbot-ceo-laid-off-staff-human-support-2023-7" target="_blank" rel="noopener">tweeted earlier this month</a> that "we had to layoff 90% of our support team" <a href="https://www.businessinsider.com/ai-chatbot-ceo-laid-off-staff-human-support-2023-7">because an AI chatbot was able to do its work faster</a>. But not all experts believe AI will wipe out jobs.Anu Madgavkar, a partner at the McKinsey Global Institute, told Insider that AI should be viewed as an imperfect productivity-enhancing tool that could produce bias and error. Richard Baldwin, an economist, said at the 2023 World Economic Forum's Growth Summit that while <a href="https://www.businessinsider.com/ai-wont-take-your-job-someone-who-uses-it-might-2023-5">AI might not replace your job</a>, workers who know how to use AI may replace those who don't. <h3>10. Workers are striking against the use of AI </h3>While some workers seek to embrace AI in their roles, others are speaking out against the ways the technology can harm workers. For the past three months, thousands of Hollywood writers in the Writers Guild of America have been on strike, in part, <a href="https://www.businessinsider.com/hollywood-writers-strike-over-technology-ai-netflix-streaming-studios-2023-7">to express their concerns over the potential for AI to replace their jobs</a>. Now <a href="https://www.businessinsider.com/hollywood-actors-set-to-strike-after-talks-studios-streamers-fail-2023-7">actors from the SAG-AFTRA guild have joined the strike</a>, urging studios to be extra careful with how they use AI. "Artificial intelligence poses an existential threat to creative professions, and all actors and performers deserve contract language that protects them from having their identity and talent exploited without consent and pay," Fran Drescher, the president of SAG-AFTRA, <a href="https://www.youtube.com/watch?v=zNS2EtQbG5I" target="_blank" rel="noopener">said during a press conference this month</a>.Journalists are also pushing back against the use of AI in newsrooms. In late June, the GMG Union of G/O Media — the company behind sites such as Gizmodo and Jezebel — released a statement pleading with the parent company to put the brakes on experimenting with AI-generated content. "We urge G/O Media to cease its plans to litter our sites with AI-generated content and invest in real journalism done by real journalists," <a href="https://twitter.com/gmgunion/status/1674535138883952640" target="_blank" rel="noopener">the letter said</a>.

10 ways artificial intelligence is changing the workplace, from writing performance reviews to making the 4-day workweek possible

<ul><li>Founded in 2007, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has been a Singapore-registered entity since 2011 and is today owned by US retail giant Walmart. </li><li>The US retail giant owns a 77% stake in Flipkart, which it acquired in 2018 for a whopping $16 billion. </li><li>However, Flipkart wants to stress on the ‘home grown’ part as competition from <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> grows.</li></ul>The competition is India’s e-commerce space is hotter than ever before. Amazon, Flipkart, and now, Reliance are fighting each other tooth and nail for the multi-billion dollar online retail pie in India. Flipkart’s Big Billion Days <keyword id="6371194" type="UNKNOWN" weightage="20" keywordseo="sale">Sale</keyword> kicking off today will be the 2nd mega sale for online shoppers this year after Amazon’s Prime Day. But burning cash through discounts isn’t enough to sustain the business, and all the players know that. Brand differentiation will be key. With that in mind, Flipkart is going for the ‘home grown’ tag. “We have very less focus on what the competition is doing but instead we focus on what customers are looking for. We take pride in every single thing we have done, it’s a local playbook, it’s not an adaptive playbook from somewhere else. Everything that we do our team brings us together, it’s not something that has happened in the US,” Flipkart’s Chief Corporate Affairs Officer Rajneesh Kumar told Business Insider in an interview. The fact is that Flipkart, founded in 2007, has been a Singapore-registered entity since 2011 and is today owned by US retail giant Walmart. The US retail giant owns a 77% stake in Flipkart, which it acquired in 2018 for a whopping $16 billion. Flipkart’s visionary founders Sachin Bansal and Binny Bansal, have now both left the organization, even though Binny continues to hold stake in the e-commerce company. This is not the first time. The company in multiple<a href="https://www.livemint.com/companies/news/with-an-eye-on-next-200-mn-internet-users-flipkart-introduces-hindi-interface-1567510409958.html"> interviews</a> has stressed upon being a ‘home-grown company’. And Flipkart isn’t shy of turning to Walmart when it’s needed. When talking about how Flipkart has a huge focus on the grocery segment, Kumar said, “We have a huge backing of our parent company which is best in grocery. Walmart’s business is 60-70% in food, so whenever Flipkart seeks the help, we can get the best practices.” However, Kumar is quick to add that, “Walmart really wants to ensure that the Flipkart DNA of entrepreneurial ability sustains. We call it the soft hug.” Amazon too calls itself ‘India’s Apni Dukaan’ Amazon founder Jeff Bezos had famously said, “Amazon is India’s apni dukaan’. Bezos’ gesture acknowledged India’s huge internet market where e-commerce still hasn’t seen its full potential, According to <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-india-gross-sales-to-hit-32bn-in-4-yrs-report/articleshow/70883574.cms">reports</a>, Amazon expects to have a 35% market share in India by 2023, with the Indian market making up for 4% of its total global sales. The number of online shoppers in India is expected to grow exponentially and both Amazon and Flipkart do not want the ‘outsider’ image to hamper their prospects. Ashwin Raghunath contributed to this article.

Flipkart wants to be an ‘Indian’ company even though Walmart owns it

<ul><li><keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> – will be expanding its portfolio to launch mobile phones and electronics on <keyword id="4079791" type="PERSON" weightage="20" keywordseo="January-26">January 26</keyword>, a source told Business Insider India.</li><li>Under the pilot phase, JioMart will launch in Navi Mumbai and will soon move to include a lot of other things in e-commerce including pharmacy. </li><li>Just a week ago, JioMart had silently launched as a grocery retail platform.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> e-commerce debut – JioMart – will be expanding its portfolio to launch mobile phones and electronics on January 26, a source told Business Insider India. “Going ahead with the store-driven e-commerce model, JioMart will soon launch a lakh odd stores on its platform, where even if a product is not available on the platform it will tell you where the nearest availability is, all of it is currently under pilot phase,” said the source. When contacted by Business Insider India, Reliance spokesperson refused to confirm or deny the development. Under the pilot phase, JioMart will launch in Navi Mumbai and will soon move to include a lot of other things in e-commerce including pharmacy. Just a week ago, JioMart had silently launched as a grocery retail platform that calls itself ‘desh ki nayi dukaan’. The website says that it is currently available in Navi Mumbai, Thane and Kalyan - suburbs of Mumbai. Reliance is currently calling for pre-registrations from users with savings of as much as ₹3,000. JioMart’s debut is a threat to several e-commerce players who have been scaling up their grocery retail operations like – Amazon, Flipkart to startups like BigBasket, Grofers, Swiggy, Dunzo. For over a year now, rumours of Reliance e-commerce debut had been doing the rounds. See Also: <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-e-commerce-venture-jiomart-makes-a-silent-debut-calls-for-pre-registrations/articleshow/73046911.cms">Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rushes-to-bring-kishore-biyani-future-group-online-days-after-mukesh-ambani-jiomart-launch/articleshow/73116395.cms">Amazon rushes to bring Kishore Biyani’s Future Group online, days after Mukesh Ambani’s JioMart launch</a>

EXCLUSIVE: JioMart will launch mobile phones and electronics on January 26 and soon, everything under the sun in e-commerce

<ul><li><keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> launches as a grocery retail platform delivering in Navi Mumbai, Thane and Kalyan. </li><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> is also calling for pre-registrations which promises to save ₹3,000 at the time of launch. </li><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>’s entry is a threat to <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> bigwigs, Amazon, Flipkart and also startups like BigBasket, Grofers, Swiggy, Dunzo. </li></ul>Reliance Industries has silently launched its much talked about e-commerce venture, JioMart. JioMart is a grocery retail platform that calls itself ‘desh ki nayi dukaan’. The website says that it is currently available in Navi Mumbai, Thane and Kalyan - suburbs of Mumbai. “Yes, we have soft-launched our operations. All Jio users are sent invites to register to avail of preliminary discounts. Though it is currently only in three regions, we would be scaling it up further. The JioMart app will be launched soon," an official told <a href="https://www.livemint.com/companies/news/ril-gears-up-to-take-on-amazon-flipkart-with-jiomart-launch-11577730323843.html">Mint</a>. Reliance is also calling for pre-registrations from users with savings of as much as ₹3,000. This step can help boost the valuation of the business which has 10,901 physical stores across the country. Reliance Industries said that it plans to spin off its retail venture, and the new digital avatar can boost its valuation. An <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-retail-is-valued-at-2-4-lakh-crore/articleshow/72988278.cms">IANS report</a> pegs the value of Reliance Retail at ₹2.4 lakh crore as per a share swap scheme. It basically calculated the value of the business as RIL offered one share of the combined entity for every four shares of retail business. Also, <a href="https://www.businessinsider.in/business/news/ril-first-indian-firm-to-hit-rs-10-lakh-cr-m-cap-mark/articleshow/72276957.cms">RIL</a> stock touched ₹10 lakh crore this year, boosting the value of all its businesses. JioMart’s debut is a threat to several e-commerce players who have been scaling up their grocery retail operations like – Amazon, Flipkart to startups like BigBasket, Grofers, Swiggy, Dunzo. For over a year now, rumours of Reliance e-commerce debut had been doing the rounds. The company has also been buying into startups in the sector. Going by an offline-to-online model, in December Reliance acquired 85% stake in the Hyderabad-based startup Nowfloats for ₹141.63 crores. Nowfloats offers SaaS based solutions to SMEs, and enables their digital presence. In August 2019, Reliance acquired a majority stake in the Google-backed fashion e-commerce startup Fynd. In March 2019, Reliance had acquired Mumbai-based logistics platform Grab A Grub. Reliance Retail has made a much bigger promise to build its online business on the back of its 364.3 million Jio subscribers. See Also: <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-retail-is-valued-at-2-4-lakh-crore/articleshow/72988278.cms">Mukesh Ambani's Reliance Retail is valued at ₹2.4 lakh crore</a> <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-industries-latest-acquisition-takes-mukesh-ambani-closer-to-e-commerce-launch/articleshow/72504542.cms">Reliance Industries' latest acquisition takes Mukesh Ambani closer to e-commerce launch</a>

Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations

<ul><li>Connecting with consumers and other stakeholders requires building multiple bridges, and experience tells us that the strongest bridges are those that resonate on an emotional level.</li><li><keyword id="10027641" type="PERSON" weightage="20" keywordseo="kaushal-satam">Kaushal Satam</keyword>, SVP, Airline Partnerships, Product, Loyalty &amp; Operations at <keyword id="8329814" type="COMPANY" weightage="20" keywordseo="InterMiles">InterMiles</keyword> writes about a few things that can help brands build an affinity for themselves in the minds of consumers.</li></ul>Brand loyalty is a paradox in itself – it is infinitely complex, yet seemingly simple. There are multiple factors and innumerable moving pieces at play when it comes to driving a simple goal: consideration for one brand over another, even when the value proposition is equal. Connecting with consumers and other stakeholders requires building multiple bridges, and experience tells us that the strongest bridges are those that resonate on an emotional level. Driven by emotional chords, brand loyalty is maintained outside of the product value through the gravitational pull of <keyword id="92066" type="ORGANIZATION" weightage="20" keywordseo="Empathy">empathy</keyword>. <keyword id="2946259" type="PERSON" weightage="20" keywordseo="challenging-times">Challenging times</keyword> call for a double dose of empathy and compassion towards evolved consumer needs. The consumer and their immediate needs, as well as other stakeholders and partners in the ecosystem, must be at the center of all business decisions; understanding them is the first step to earning and retaining their trust. Content is key Content is a powerful tool. Empathetic brand content, communicated sensitively during times of crisis, evokes and inspires. It is, hence, more likely to be shared, draws greater engagement and can even spark a change of thought or belief amongst local communities. A recent report by Think with Google stated that in the last one year, 39% of millennials felt that an online YouTube video helped change their perspective while 45% agreed that a YouTuber has inspired them to make a personal change in their life. These findings amplify how generations today are proactively seeking out content that prompts change, as opposed to passively consuming content. Through challenging times, consumers naturally seek out and engage with content that sends across positive messaging and resonates with them, in a particular environment &amp; context. Among FMCG brands, P&amp;G leads with an excellent example; the brand has repeatedly demonstrated how simply empathizing with customers, followed by practical solutions, can speak louder than endorsements glorifying brand features. Their 'Share the Load' campaign targeting the unequal division of household chores, especially relevant during the lockdown, has become a point of discussion in households, youth-communities and workplaces E-commerce major Amazon India’s ‘Aapki Apni Dukaan’ and ‘Apno ka Saath’ are other key examples of successful communication campaigns that have not only acknowledged but also addressed the importance of having a dependable vendor to meet the needs of India’s aspiring entrepreneurs. The campaigns not only reassure the viewer but also empathize with common grievances faced by them. Leveraging genuine emotions, these campaigns have been successful in driving long-lasting fulfilling relationships. Pragmatically innovating At times, the core business takes a backseat, while immediate needs are catered to and communicated. Travel was one of the sectors most affected by the pandemic – especially during the initial months, however brands like South African Tourism used this opportunity to guide consumers with campaigns that said ‘Don’t travel now, so you can travel later’ and ‘Sacrifice now, celebrate later’. The travel industry has evolved to look beyond instantaneous profits, and has taken small steps to instill confidence and build trust. For example, lodges and hotels now provide flexible bookings – allowing trips to be postponed even up to a year – along with low cost cancellations. Hotels now give consumers the option of having their rooms to be completely disinfected one day before their stay, without letting anyone else use the room in the interim. There are also additional visual representations of health and sanitization measures. Many destination brands have also been offering free virtual tours, to engage and inspire – be it a walk around The Louvre in Paris, real-time guided safaris in South Africa’s Kruger National Park, or 360-degree views of the ruins of Inca settlements in Machu Picchu. This displays brand commitment to consumers and society, as well as the drive to provide meaningful solutions for company growth. Getting it right with customer-centricity Consumers show an active interest in content that is reflective of their own personal values and belief system. For a brand to be able to strike the right chord with their consumers, they need to form strong foundations by continually investing time and effort in getting to know their consumers. Brands must explore diverse areas of consumer personas to gain an understanding of habits, influences, emotions, and behaviours. These findings can be leveraged to construct a solid narrative that offers value, is relevant and insightful enough to evoke an emotion and prompt change. Big gestures are non-mandatory; simple, timely and consistent methods of displaying care and concern establishes long-term trust and affinity. It could be as simple as offering free-of-cost contact-less deliveries during t he lockdown, loyalty points for staying safe at home during the pandemic, or sharing a relevant message of hope and harmony amongst consumers. The entire ecosystem matters Brand values and sensitivity must expand past the consumer base to encompass other stakeholders in the ecosystem as well. Partnerships and associations forged during challenging times help brands meet the needs of all employees, vendors and associates – right across the supply chain. Amidst stringent lockdowns, Marico partnered with Zomato and Swiggy for straight-to-home delivery of their products and all essential food items under the Marico portfolio. This ensured jobs for delivery persons at a time when restaurants were shut, while also bringing convenience to the customers’ doorstep. To help the food industry, Zomato recently made takeaway services available at zero commission to its restaurant partners, while also foregoing the payment gateway charges they incur on all takeaway orders. There is strength in togetherness and immense power in empathy. It is what makes leaders and brands stand out from the herd.

Embracing empathy: The key to driving brand loyalty

<ul><li>Home-grown platform Meesho is the latest start-up to join the unicorn club after raising $300 million from Softbank Vision Fund 2.</li><li>Founded in 2015, Meesho launched its first TVC in 2020 that aimed to celebrate financial independence of Indian women. It is now planning to go bullish on marketing with new campaigns and collaborations to expand its reseller user base.</li><li>Vidit Aatrey, Founder and CEO, Meesho walks us through the company’s journey from scratch, marketing goals for the year and shares his vision.</li></ul>It was in 2015 that Vidit Aatrey, Founder and CEO of Meesho decided to quit InMobi and start his own business. He and his partner Sanjeev Barnwal, Founder and CTO of Meesho came up with an idea to build a platform to help micro and small businesses shift online and leverage the power of digital technologies. So, as social commerce was struggling to make inroads in India, Meesho led the way and revolutionized the industry. “Social commerce was already a popular concept at that time but the challenges such as limited access to supply, lack of logistics/ payment options, customer friendly policies etc, were also on the rise,” shared Aatrey. Months went into experimenting with the idea, researching the market and getting the logistics right. They juggled between ideas until they perfected the core business proposition. Cut to today, Meesho has just raised $300 million in a new round of funding led by SoftBank Vision Fund 2 on April 02. The startup has already joined the unicorn club. As per media reports, the new Series E round gives the five-year-old Bangalore-based company a valuation of $2.1 billion, up from about $600 million-$700 million in the 2019 Series D investment. The social commerce platform claims to have over 13 million entrepreneurs, a majority of whom are women. It has helped them start their own online businesses with zero investment, bringing the benefits of e-commerce to over 45 million customers across the country. Sharing why Aatrey started Meesho, he said, “‘Meesho’ stands for ‘meri shop’ or apni dukaan. Almost 9 out of every 10 individuals in India have a dream of starting his/her small business. Given the increasing number of self-employed, small business owners, gig workers in India it is no surprise that Indians have an enterprising mind. However, starting a business requires a lot of capital. India is not such a rich country. Most people do not have access to capital. These people who never had the opportunity to start a store came onto our platform and became entrepreneurs for the first time. One can come here, start his/her shop on WhatsApp, access anything from our supplier marketplace, and as per consumer orders, purchase is made from the marketplace.” Meesho primarily connects sellers with customers through social media platforms such as WhatsApp, Instagram and Facebook. It supervises logistics, online payment and provides real-time updates. Till date, the company has delivered orders from 100K+ registered suppliers to over 26,000 pin codes in more than 4,800 cities, helping generate over Rs 500 crore in income for entrepreneurs and serving customers in more than 4,500 Tier 2+ cities -- bringing e-commerce to Bharat. As per a recent report by Deloitte, India’s e-commerce is expected to grow from $24 billion in 2017 to $84 billion in 2021. Considering that India has about 60 million micro, small and medium enterprises (MSMEs) currently, Meesho is just getting started. Aatrey said, “We have ~9M women entrepreneurs and India is roughly going to have more than 250M women who will be online by 2025. Given this understanding, we are just scratching the surfaces of enabling women to start their own business. With the growth that we have seen over the last year, we want to bring our value proposition to many aspiring women, and we see a lot of value in further communicating our value proposition. That said, we will consistently be communicating how Meesho can empower and enable women entrepreneurs in starting their home businesses.” According to Aatrey, the social reselling market in India is estimated to be $6-7 billion (GMV) in size as of 2020. By 2025, the social commerce is expected to be ~$70B and total ecommerce to be $200 Bn as the number of online shoppers, especially from tier II cities and beyond, continues to rise. After the pandemic, Meesho has also seen an increased adoption rate in Bharat. “Overall, more than 70% of our orders come from tier II+ towns. We have seen very good adoption in tier II+ towns during the pandemic: we have served 2000+ new tier 2+ towns since June and our order share from these towns has also increased from 67% earlier to 72% between July and December 2020,” said he. Aatrey believes that the future of online shopping is social commerce and more and more retail outlets have started exploring this medium after the pandemic. “I believe evolving technology is a wakeup call for everyone in business. It is imperative for all to realize the huge potential that digital has and ways to leverage it. The lockdown period came as a lesson for many of us. Many retailers in India resorted to selling products over WhatsApp and that shows how the retail market is also changing and moving towards digital. In fact, according to a retail website, today 85% of sellers using social commerce are small, offline retailers giving sharp competition to large organized sellers on e-commerce platforms. As per Bain Analysis, India has the highest number of internet users (572 million) globally, with substantial room for growth. So, the retail market has enough potential to leverage social commerce and bloom,” elaborated Aatrey. <cmsannotation type="cmsannotation" annotationid="Carving a niche beyond social commerce" text="Carving a niche beyond social commerce">Carving a niche beyond social commerce</cmsannotation> Since a majority of its sellers and buyers are women, Meesho’s communication also centers around women empowerment. Its mission is to help women achieve financial independence. Its first TVC, conceptualised by DDB Mudra, focused on an unstated need of a woman, which is to claim what she rightfully deserves – her own identity. The film celebrated the unstoppable spirit of women who overcome all social and economic barriers with the line that captures the sentiment of 'Not just a homemaker, a Meesho Entrepreneur.' <div type="Youtube" id="Y0nSzxtiShA" title="Many Names, One Identity #MyStoreMyStory" thumbUrl="https://i.ytimg.com/vi/Y0nSzxtiShA/mqdefault.jpg"></div> Telling us more about the company's marketing proposition, Aatrey said, “We have more than 9 million resellers on our platform spread across 100 cities out of which 80% of them being women from smaller towns and cities. Social and cultural factors for years have kept this section of the society away from employment. Our strategy has always been to empower more and more people to fulfil their dream of becoming an entrepreneur, especially women, who due to social obligations sacrifice their dreams and fall behind in terms of financial independence. We wish to give them all a sense of self and accomplishment through our platform. Social media is our backbone and these entrepreneurs, our pillars of strength.” Meesho is also fighting against e-commerce giants like Amazon and Flipkart, who are ploughing billions of dollars and have been around for a while. Meesho’s rivals have on-boarded Bollywood celebrities and have a huge media presence. “In the era of Amazon and Flipkart, we at Meesho are trying to build trust through social commerce. Our strategy has always been to empower more and more people to fulfil their dream. Our communication will remain around our USP- to help build entrepreneurs with zero capital. We will also find more channels this year to penetrate our value proposition further,” said Aatrey. Vision After the recent funding round, Meesho is aiming to build a single ecosystem that will enable all small businesses to grow faster. “With the new round of funding, we are now focused on expanding our vision — from helping aspiring women entrepreneurs to creating Meesho as a single ecosystem that will enable all small businesses in India to succeed online. In the last one year, we have seen tremendous growth across small businesses and entrepreneurs seeking to move their businesses online. And with our new vision we will enable 100 million small businesses to start, succeed and lead their operations online with Meesho as their partner in their journey,” said Aatrey. The introduction of smartphones and penetration of the internet and WhatsApp in particular has made the market size for social commerce grow larger, which is estimated to reach $70B USD in 2025. Meesho aims to leverage this demand and go bullish on marketing with new campaigns and collaborations with different partners to accelerate its user base of resellers on the platform. “2021 has come with a new set of possibilities, opportunities, and challenges to tackle. We, at Meesho, are committed to our goal of letting anyone start a digital business with zero capital. Major focus area would be to enable increased adoption of Meesho’s platform across multiple categories which would be possible only when we are able to structurally reduce our prices for our customers. We also plan to leverage the digital ecosystem and unravel more benefits that it can offer for the betterment of our entrepreneurs and Meeho’s growth. We aim at surpassing all our achievements and recognitions from previous years and reach newer milestones. We are also looking at transforming the Meesho app for better experience for our entrepreneurs. With new built in features, we hope to enhance the look and feel of the app. ‘Meeshoites’ are looking at the year with great hope, plans and execution methods,” shared Aatrey.

Meesho's marketing strategy has been to empower women who lack financial independence, says CEO Vidit Aatrey

<ul><li>As the supply chain of essentials is affected, e-commerce platforms are depending on <keyword id="6513856" type="UNKNOWN" weightage="20" keywordseo="kirana-stores">kirana stores</keyword> for efficient delivery. </li><li>Startups are offering free online applications to mom-n-pop stores, while B2B startups are raking in revenue thanks to the kirana business. </li><li>Now, Reliance Industries too wants a piece of the pie. Jio’s e-commerce entity <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> has taken the Offline to Online business model and its partnership with Facebook will only boost it. </li></ul>With the coronavirus lockdown in place, the local mom n pop stores or kirana dukans have become the go-to stores. These neighbourhood stores which had come under threat because of the rise of e-commerce, have turned into lockdown heroes. With e-commerce apps finding it difficult to deliver or managing huge volumes, many users have turned to local kirana stores. They don’t mind standing in the circles made outside a shop to practise social distancing as long as they can go home with the groceries they want. But it’s not just that. As the supply chain is affected by the district lockdown and fewer labour in place, e-commerce platforms are too banking on kiranas for efficient delivery of essentials. And this has resulted in a line-up of startups and big corporates all turning to the kirana waala dukaan with offers, new products and more. ‘Kirana stores have become India’s lifeline’ Amazon India launched ‘Local Shops on Amazon’. The program helps customers discover products from local shops in their city from the convenience of their homes, while helping shopkeepers supplement their footfalls with a digital presence and expand beyond their normal catchment, said the company. Amazon had piloted this program for 6 months with over 5000 local shops and retailers from 100+ cities across India. India is home to a vast number of B2B startups who have been working with mom n pop stores. MaxWholesale, a B2B e-commerce platform for kirana stores to source online inventory, raked in sales worth over ₹1 crore in a single day. “During such unprecedented times, kiranas have become the lifeline for the country. We have ensured that our on-ground staff and our suppliers get the best of our capabilities. The confidence that the suppliers and retailers have bestowed upon us has made us achieve this feat. We are committed to make kirana stores comfortable with technology by solving their core problem of dependable supply,” said Samarth Agrawal, Founder &amp; CEO, MaxWholesale. With kirana stores becoming the centrepoint for essentials, startups also figured out the need to start listing them online for faster delivery and efficiency. Phonepe introduced a new feature ‘stores’ with a list of kirana stores near you, and you can place your order and pay through the app for a contactless delivery. Meanwhile, startups like GoFrugal and LoveLocal started offering free applications to kirana shops to help them take their business online and serve more customers. Nearly 80,000 LoveLocal shops are serving over 10 million consumers across India with no touch delivery and no touch shop pickup. "These are difficult times. During the lockdown, when there is a need for essential goods, our neighbourhood kirana stores are the ones who have stepped up to help us. GOFRUGAL is offering our gratitude by providing free solutions till September 2020. All these functions can be managed at their fingertips using our app. Going forward we aim to upgrade all the kirana stores into a smart platform where they can continue to enjoy the benefits,” said Kumar Vembu, CEO and Founder, GOFRUGAL. The big game – JioMart and its O2O model Big guns are gunning for kirana business too. Paytm Mall, which began operations in February 2017, went through a series of ups and downs. This was until in 2019 when it switched to an O2O model led business. Now, Paytm Mall drives its online traffic to offline stores through gift vouchers, offers and uses offline strength to push online traffic through digital payments only. And now the big player Reliance Retail too wants a piece of the pie. Jio’s e-commerce entity JioMart has also taken to the hybrid model. Facilitating this offline-to-online model, in December 2019, Reliance acquired 85% stake in the Hyderabad-based startup Nowfloats for ₹141.63 crore. Nowfloats offers SaaS-based solutions to SMEs, and enables their digital presence. In August 2019, Reliance acquired a majority stake in the Google-backed fashion e-commerce startup Fynd. In March 2019, Reliance acquired Mumbai-based logistics platform Grab A Grub. Reliance Jio’s latest deal with Facebook is another such move in the same direction. One of the significant factors of the deal is that Reliance Retail and WhatsApp are now in a commercial partnership to accelerate the Indian giant’s e-commerce venture – JioMart. Through JioMart and WhatsApp, the entities will now help support consumer businesses. “The companies will work closely to ensure that consumers are able to access the nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp,” Reliance said in a statement. See Also: <a href="https://www.businessinsider.in/india/news/the-ceo-of-54-billion-mahindra-mahindra-pawan-goenka-says-these-four-things-will-be-normal-in-the-post-covid-world/articleshow/75316936.cms">The Managing Director of $54 billion Mahindra &amp; Mahindra, Pawan Goenka, says these four things will be ‘normal’ in the post- COVID world</a> <a href="https://www.businessinsider.in/india/news/home-delivery-of-alcohol-is-illegal-anyone-telling-you-otherwise-is-probably-trying-to-run-a-scam/articleshow/75315790.cms">Home delivery of alcohol is illegal — anyone telling you otherwise is probably trying to run a scam</a>

From Reliance’s JioMart to Amazon and startups all line up to serve kiranas – India’s mom n pop stores

<ul><li>The Reliance Industries AGM saw chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> announce multiple plans across e-commerce, cloud and content. </li><li>In all three categories, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has been ramping up its operations in India. </li><li>This will put Ambani and Bezos in direct competition, as both try to garner a bigger market share in India – one of the fastest growing internet economies in the world.</li></ul>It’s a fight for the finish in India’s internet industry and the two competitors are the world’s richest company Amazon and India’s richest conglomerate Reliance Industries. Brewing the fight are two masterminds – <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> and Mukesh Ambani – both of whom want a piece of the large pie that can arise from engaging India’s 500 million internet users. Globally, Amazon has managed to thwart every competitor – traditional or new in every other market. But, Bezos who calls Amazon “India’s apni dukaan” (India’s own shop), might not have it so easy. Indian billionaire Ambani is leaving no stone unturned to claim the Indian internet space. Amazon’s customer acquisition strategy runs across three verticals – e-commerce for the fast growing number of online shoppers, cloud for business owners and content platform for entertainment and video. And now, Jio has fired a salvo in every vertical that Amazon operates in. At the annual general meeting of Reliance Industries, Ambani demonstrated how he wants to take over each one of Amazon’s segments. Shopping for India’s internet users Ambani has interesting ammunition. For one, he has over 340 million customers for his telecom service. Added to that, he is planning to get more...around 500 million by providing fixed broadband service at every nook and corner of the country. Reliance Retail which is expected to launch its e-commerce offering by October, also showed a sneak peak into what they have in store for shoppers. Reliance's fibre customers will offer an immersive shopping experience using mixed reality (augmented reality and virtual reality combined). Ambani’s children Isha and Akash also demonstrated a shopping experience with Jio’s augmented reality advancements, where a 3D hologram of the user will help the shopper try on different colours of the garment. This is not good news for Amazon which holds 30% of the Indian e-commerce market, and has plans to grow. Amazon too has been experimenting with virtual reality. During the Prime Day sale, Amazon had set up virtual reality experience zones for consumers. But looks like Reliance will lure its existing fibre customers into its own shopping zones. Ambani also said that Reliance will offer end-to-end digital stack to "enable and empower" small merchants. Today, Amazon too launched The Amazon Marketplace Appstore in India, a platform created for sellers to discover trusted third-party applications that can help them automate, grow and manage their business. Building businesses on cloud One of Amazon’s biggest businesses is its Amazon Web Service finds clients with the bigwigs of the tech industry in the country who use its cloud services to build their businesses. AWS has also partnered with Wipro to set up co-innovation centres in India. Ambani has entered this business too. He joined hands with Microsoft. Satya Nadella made a surprise cameo at the AGM via video feed to announce Jio’s partnership with Microsoft Azure. “Jio will build new custom solutions on Microsoft Azure for large enterprises who have already benefited from our technology platforms. Companies will also have easy and affordable access to best-in-class technologies like data analytics, AI, cognitive services, blockchain, IoT and edge computing to accelerate India’s digital transformation and enable grassroots innovation,” said Microsoft. Prime vs Jio, Indian OTT’s new war Amazon’s content platform Prime Video launched in 2016 and has since then stirred up the OTT competition in India, moving up against Netflix, Hotstar among others. Prime Video has seen multiple original web content series from India like Made in Heaven, Inside Edge which have become big hits. And now, Jio has a strong strategy to disrupt the OTT space in India. Jio Fibre services will come bundled with ‘most-premium OTT applications’. Not only that, premium subscribers of Reliance Fibre will also be able to watch movies on the very same day they release in theatres, taking away Amazon Prime’s sweet spot. It is known to bring movies to its platform within a few weeks of release. See Also: <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways</a>

You Searched For "dukaan businesses" and got 11 results

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From Reliance’s JioMart to Amazon and startups all line up to serve kiranas – India’s mom n pop stores

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