09 September 2023 | B W BUSINESSWORLD | 101 ion brands in the US and South Africa has yielded extraordinary results. While its applications are versatile, some of the most impactful transformations occur behind the scenes. Through tools like MidJourney & Stable Diffusion, we are rapidly crafting intricate visual merchandising prototypes, enhancing efficiency and creativity”, he shares. Intriguingly, generative AI is driving our future-focused experiments, allowing customers to unleash their creativity with interactive, customisable in-store experiences. With technology as the enabler, we are propelling fashion into a realm of endless imagination and innovation, he says. Expert speak Prashanth Kaddi, Partner, Consulting, Deloitte India, says the fashion industry is exploring generative AI to understand customer needs, predict fashion trends, and enrich customer experience. “As a use case, we are helping a leading fashion jewellery company empower customers to generate new designs at a much faster pace. Generative AI is bringing hyperpersonalisation of products and improving customer experience by offering better product catalogue. While it is an exciting space and many companies are investing in adopting generative AI to up the fashion game, there are challenges such as the vulnerability of copying AI-generated images and infringement issues. With the right guardrails in place, such as Deloitte’s Trustworthy AI framework, these can be mitigated significantly”. The fashion industry is ready to embrace generative AI, albeit with caution. Designers are looking at using generative AI to delight their consumers by providing enhanced consumer experience. We will continue to watch the space and report on future developments. [email protected] Generative AI is enabling customers to unleash their creativity with interactive, customisable in-store experiences Prashanth Kaddi, Partner, Consulting, Deloitte India Designer Raghavendra Rathore Photograph by Oneinchpunch
102 | B W BUSINESSWORLD | 09 September 2023 What are the prospects for natural gas in the next five years? I believe the next five years will be a game changer for the sector. And the prospects for natural gas is extremely promising. India is poised to pursue a diversified energy strategy aimed at meeting the country’s burgeoning demand for clean energy. In comparison to coal and oil, natural gas is considered a cleaner fossil fuel and expected to become a substantial part of the energy mix, especially as both India and the global community intensifies efforts to lower carbon emissions and shift to greener energy sources. It provides the necessary bridge in this transition towards green energy. Where do you see the demand for gas heading in the foreseeable future? India’s gas demand would grow over 500 per cent in the foreseeable future as the country has set a target to raise the share of gas in the country’s energy mix to 15 per cent by 2030, from about 6 per cent. The country’s LNG regasification capacity is set to expand considerably as new terminals and proposed pipelines are being planned. After the 11th bidding round, city gas distribution (CGD) would be available in 295 geographical areas, covering 98 per cent of India’s population. What challenges will the increased demand pose for MGL, others? Against the backdrop of changing industry landscape, MGL faces a few headwinds from the operational and competitive standpoints. Domestic gas allocation has not been able to keep pace with the increasing gas demand which has necessitated MGL to procure gas at a higher rate. MGL operates in congested geographical areas such as Mumbai and Thane where expanding the infrastructure becomes challenging largely on account of securing necessary approvals and smaller working window. Are you looking at branching out to green fuel options? We are actively strategising and working towards diversifying our business portfolio. We have funds available in our balance sheet and our intention is to best discern avenues that are most advantageous to us. Recently, we signed a MoU with the BMC to set up one of the largest compressed bio-gas plant in Mumbai. The plant will process 1,000 tonnes of wet waste per day. [email protected] ASHU SHINGHAL ASHU SHINGHAL, Managing Director, Mahanagar Gas shares with Ashish Sinha the city gas distribution major’s preparedness for meeting the demand for natural gas in future, which is expected to grow exponentially. Excerpts: ‘India’s Gas Demand Will Grow By 500% In Near Future’ India’s LNG regasification capacity is set to expand considerably as new terminals and proposed pipelines are being planned. After the 11th bidding round, city gas distribution would be available in 295 geographical areas LAST WORD
That's not all, experience super special offers for MSMEs IDFC FIRST Bank Scan the QR code to know more 1800 10 888 Welcome to customer-friendly Banking! » Open your 'BOOSTER' Current Account with IDFC FIRST Bank » All balances above `2 Lakhs automatically convert to 370 Days Fixed Deposit (FD) » Earn 7.5% interest p.a. on the FD » Withdraw any amount from your Current Account till the Current Account balance is Zero » No Minimum Balance required to be maintained in the Current Account » FD breakage will not attract any penalty on withdrawal » FD breakage will be in units of `1 to give you maximum benefit CURRENT ACCOUNT presents IDFC FIRST Bank ‘BOOSTER’ Current Account Charges on Cash Withdrawals ZERO Charges for 3rd party Cash Deposit and Withdrawals ZERO NEFT, IMPS, RTGS Charges ZERO Charges on Cash Deposit at ATM ZERO Demand Draft and Pay Order Charges ZERO Charges on Bulk Upload, Virtual Accounts ZERO Charges on SMS Alerts ZERO Charges on UPI QR and QR Standee ZERO Charges on FIRC, BRC ZERO Charges on Debit Card Issuance ZERO Charges on Standing Instructions ZERO Zero Charges on 50+ commonly used banking services: and 50+ such commonly used banking services on Current Account of 20X of Average Monthly Balance or up to ₹20 Lakhs, whichever is higher for your needs such as ERP, HRMS, Payroll, Taxation, Legal, Cloud Services, Co-working Spaces and more As an Indian enterprise in manufacturing, services, trading, retail, import-export, agriculture or startups / self-employed professionals, we know you work very hard. So, we have put together a Current Account product where your money works as hard as you! This product is applicable for MSME customers with annual turnover of up to `250 Crore and investment in plant & machinery or equipment up to `50 Crore. The applicable Fixed Deposit (FD) rates are notified on the Bank's official website and are subject to change from time to time. The interest rate mentioned herein is applicable as on date for the deposits having 370 days tenure. The depositors shall ascertain the FD rates on the value date of FD. In case of pre-closure of FD, applicable bucket rate as per tenure will apply. The services are being offered free in good faith. In case of abuse of services, the Bank reserves all the rights to charge fees, as applicable. T&C apply. Charges on Non-home Branch Transactions ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO FREE Cash Deposit limit FREE Cash Deposit limit 100+ Beyond Banking offers