Entrepreneur nominated for AI e-commerce innovation

Pictured: Dr Somdutta Singh, founder and CEO of Assiduus Global Inc

 

A leading Indian entrepreneur has been nominated for innovative use of AI in e-commerce.

 

Dr Somdutta Singh, founder and CEO of Assiduus Global Inc., a multi-marketplace e-commerce accelerator for direct-to-consumer brands, was named a finalist in the Women in AI Leadership Awards presented by VentureBeat in the AI Entrepreneur category.

 

The Assiduus e-commerce platform helps to manage sales via various digital marketplaces, including aspects such as legal and regulatory compliance, licensing, import regulations and logistics. It manages inventory, sales, and distribution from end to end, and provides AI-powered data analytics to guide decision-making, increase profits, and protect brand identity.

 

Assiduus technology guides brands in onboarding, operations, research, and reporting. Its AI algorithms analyze data from global marketplaces to provide intelligence on product performance, pricing, target audience, purchasing patterns, repeat purchases, competitors, and more. With Assiduus data as a guide, sellers can make projections based on the most in-demand SKUs, products and categories for global markets.

 

Singh is a serial entrepreneur, angel investor, best-selling author and philanthropist. Assiduus Global is her third venture, with both previous companies having been acquired. She was named to the Times of India 40 Under 40 last year, won the coveted Indian Achievers’ Award and featured amongst Fortune India’s 50 most powerful businesswomen in 2020.

 

She is also a member of the Entrepreneurs’ Organization, Forbes Business Council and Indiaspora, the largest diaspora community for Indians around the world. She has served as the youngest and only elected woman vice-chairperson of NASSCOM Product Council and was the first woman of Indian origin on the Board of Philip Kotler’s Kotler Impact. Singh helped the Government of India build the Women Entrepreneurship Platform (WEP) by NITI Aayog and has authored two best-sellers – Decoding Digital: Unlocking Digital Barriers and Stories from New India: Policies, Hope and Change.

 

“I am honored to have been nominated for the Women in AI Leadership Awards and named a finalist among those in the AI Entrepreneur category,” said Singh. “Women in technology have to be smart, resourceful and efficient to gain a foothold in the industry and I have used those skills to build an e-commerce platform that helps companies break barriers of cross-border selling of products throughout the world. I look forward to seeing who is named recipients of the Women in AI Leadership Awards, knowing that everyone recognized is already a winner by even being nominated.”

 

Women in AI Leadership Awards is hosted by VentureBeat and presented at the Transform Data and AI Executive Summit, the leading event on applied AI for enterprise business and technology decision makers, July 19 at the Palace Hotel in San Francisco.

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Book of the Month*

The Serendipity Mindset: The Art and Science of Creating Good Luck

By Dr Christian Busch
Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

Chance encounters, or strokes of fortune, feature in countless stories of business success. This book looks beneath the surface, reveals and teaches the mindset that can transform pure chance into opportunity. The author is director of the Global Economy Program at New York University’s Center for Global Affairs, and a lecturer at the London School of Economics.

Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

The author says “This is a book about the interactions of coincidence, human ambition and imagination”. In the above example: finding the wallet is the coincidence; ambition is the desire to make something of the discovery; add imagination and you open up a whole menu of possibilities: from spending spree to earning a reputation for honesty – or even making a wealthy friend.

Business is typically forged on human ambition and imagination, but early success often feeds an appetite for control – and “control freaks” can be blind to the opportunities thrown up by the unexpected. They only see chance events as distractions. If plans go awry, they may blame the failure on “bad luck” rather than admit their own inflexible attitude.

The author himself admits to being “a German who is used to planning” and prone to feel anxious when something unexpected happens. That makes him an ideal teacher, because he has worked hard to discover and analyse the mindset that enables one to “connect the dots” and cultivate serendipity. He presents a goldmine of examples from science, business and life where an apparent mishap or failure lead to a breakthrough.

Indeed, studies suggest that around 50% of major scientific breakthroughs emerge as the result of accidents or coincidences. A well-known example is Alexander Fleming’s discovery of penicillin, launching the whole field of antibiotics. Other examples include X-rays, nylon, microwave ovens, rubber, Velcro, Viagra and Post-it Notes – where would we be without these!

The book goes beyond the ability to recognise and respond to opportunities in chaos, but the subtitle – The Art and Science of Creating Good Luck – is actually a bit misleading. True, he does show ways to develop better fortune, but it would be better to call it “inviting” or “encouraging” good luck. For example, he suggests better ways to start a conversation with a stranger – ways that will make it more likely to lead to chance connections or shared interests.

The publishers may have chosen the word “creating” to make the book appeal to the human desire to control – for control freaks are exactly the readership that would benefit the most from this book’s wisdom and practical advice.

For the rest of us, it offers a great way to rediscover the sense of play that is so important in life – and too often lost in business.

 

“Following the success of The Serendipity Mindset hardback, a paperback edition has also now been launched under the title “Connect the Dots”.

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