M.L.Dahanukar College of Commerce organizes a Conclave on Artificial Intelligence and Futuristic Finance

The Internal Quality Assurance Cell of M. L. Dahanukar College of Commerce successfully organized a conference aptly titled, ‘Artificial Intelligence and Futuristic Finance – An Academia-Corporate Conclave’ on 11th January 2020 in Keshavrao Ghaisas Auditorium, Vile Parle East, Mumbai.

The key focus of the conference was to acquaint students and academicians with the transformation underway in the finance sector and discuss ways to enhance skill sets to match with the industry expectations. The chief guest list comprised of various professionals and industry experts from the field of finance, IT, etc, who enlightened the participants about coping with the demands of the dynamic finance and business environment post the advent of AI and allied technology. As rightfully expected, the conclave proved to be a step towards industry-academy synergy.

The conclave started off with Dr. D. M. Doke (Principal, M. L. Dahanukar College of Commerce) welcoming everyone present and inviting the guests to water a sapling as a nod towards our culture and tradition of nurturing value. Following this the Chief Guest of the event, Mr. Mohan Tanksale (Advisor, Swift India & former Chairman, Central Bank of India) enlightened the participants about the progressive changes in the field of banking due to initiation of AI. He dwelt on how AI has helped in resolving the trust issues between lenders and creditors, learning borrower behavioural pattern, benchmarking standards for lender institutions and connecting and corroborating information for compliances and security. He concluded by stressing on the significance of good governance and the irreplaceability of human intelligence by AI.

The Inaugural Speech by the chief guest was followed by an Introductory session by Mr. Narendranath Nair, General Manager, Finance, Wipro Limited, Bangalore. Mr. Nair simplified the concept of Artificial Intelligence keeping in mind the diverse audience base. The examples and cases pertaining to current AI based applications made it relatable and comprehendible for everyone. The session also turned out to be an eye opener in terms of how far the AI wave has penetrated into our lives.

After that a panel discussion ensued on the subject of “Opportunities and Challenges in embedding AI with the Finance Sector- (Industry Perspective)” The panel comprised Mr. Sunil Deshmukh, C- Suite executive & MD Asquared IOT Pvt. Ltd., Mr. Tapan Master, Chief Technical Officer at Big4, Mumbai and Mr. Vardarajan Guruprasad, President, Institute of Management Accounts, Bangalore and was moderated by CMA Sarvottam Rege, Conference Convenor & Co-ordinator (B.F.M.- M.L.D.C.). This session threw light on the various applications of AI in the Finance Sector. The discussion also emphasized on the importance of upgrading skill sets to match the AI wave. They focused on the importance of having strong fundamentals and encouraged students to read newspapers daily. According to them AI will add more value and assist better business decision-making.

The power packed panel discussion was soon followed by a riveting interactive session by Mr. Apoorva Parmar, Analytics, Robotic Process Automation & Technology Enabler-Concentrix, Pune. He talked about Lean and Six Sigma methods. He enumerated the success stories of Toyota and Tesla and how they implemented artificial intelligence in the car industry. He further explained that Algorithms and statistics are the fundamentals of AI. With the changing times he also suggested some ways for the students to equip themselves in areas such as data science, AI, etc. through certification courses.

To take this intellectually stimulating event a notch higher, the next panel discussion was about ‘Upscaling academics to adapt to the AI Revolution’. The line-up of the distinguished speakers comprised Mr. Abhinav Agarwal, CEO of Fluid AI (Truetech), Mr. Sameer Bartakke, Vice President of a leading financial institution and Mr. Shankar Kotian, Vice President, HDFC Bank, Mumbai. The discussion was moderated by CA Prachi Ganu. They elucidated about their experience in the industry and emphasized on the need for students to have practical knowledge along with theoretical knowledge. They also spoke about the skills that they look for when they are hiring employees. They said that students must keep themselves updated and understand certain elements of technology. It was indeed a value addition for the students and also the academicians.

The valedictory session of the event was delivered by Mr. Manoj Sathe (Vice President, NSDL, Mumbai) giving emphasis on the improvements in the Indian markets since the establishment of NSE in 1992 and the need to eradicate ignorance about markets, thereby encouraging people towards investing and financial growth.  Lastly, he advised the participants to aim at creating jobs for not one but many. This was truly a befitting conclusion to this intellectually enriching experience.

Smt. Chandana Chakraborti (Vice Principal, M. L. Dahanukar College of Commerce) extended the Vote of Thanks by expressing gratitude towards the Chief Guest, the Principal, the participants, the organizers and the sponsors of the event thereby concluding the successful conduct of the event. The conference was executed by the Convenor, Mr. Sarvottam Rege (CMA, Co-ordinator of BFM Course, M. L. Dahanukar College of Commerce), Co-Convenor, Ms. Shivani Naik (Core Faculty, B.F.M. Dept.) along with the Organizing team comprising of fellow faculty members and student volunteers. The conclave was well received by students, academicians and industry delegates and was a sincere effort by the institution in pioneering innovative concepts by building fruitful industry academia association.