AI technology promises to provide impetus to the Engine of growth – Chirag Boonlia

In Interviews, Technology

Embassy Group, a leading development firm in real estate commenced its operations in 1993 led by Jitu Virwani, Chairman and Managing Director of the group. The Embassy Group creates wealth through innovation, passion and joy, making it the most admired, respected and aspired-for brand in real estate.

Mr. Chirag Boonlia, is presently the Chief Technology Officer (CTO) of
Embassy Group. He has worked in various roles & responsibilities in Business Transformation initiatives transcending across multiple domains, multiple technologies & organizations ranging from established to institutional backed startups.

In an interaction with Techxty,Chirag Boonlia talks about the businesses across the domains embracing new technologies. Read On!

Tell us something about yourself and what does your company do?


I am an Engineer plus MBA (IT & Systems) by profession with ~16 years of varied & enriching IT experience & currently contributing at Embassy Group as Chief Technology Officer (CTO).
Having worked with marquee organisations such as Infosys, Oracle, JSW, Aditya Birla Retail, Virtuous Retail with experience transcending across Retail, Warehouse Management, Stores, Real Estate, Malls, Hotels, Co-Working Offices, Food courts etc, I have had an exciting career so far.
Having worked on various roles & responsibilities in Business Transformation initiatives transcending across domains, multiple technologies & organizations ranging from established to institutional backed start-ups, I am on a mission to accelerate the digital transformation initiatives across the group.

Embassy Group, a leading development firm in real estate commenced its operations in 1993 led by Jitu Virwani, Chairman and Managing Director of the group. The establishment has developed 54+ Million Sq. Ft. of Commercial, Residential, Retail, Hospitality, Services, Educational and Industrial Warehouse spaces and holds an extensive land bank of 1,000+ acres across the country. The operation spans across Indian and international markets that include Bangalore, Chennai, Hyderabad, Pune, Coimbatore, Trivandrum, Serbia and Malaysia.

How is technological development helpful for better future?

The debate “Technological Advancements – Boon Vs Bane” has died down long ago & businesses across the domains are embracing technology like never before. We’re privileged to be living in a time where science and technology can assist us, make our lives easier (With Caveats) and rethink the ways we go about our daily lives.

Old Business Models are struggling with the new ones challenging the status-quo every minute. Car Sales have been going down but Uber/Ola are rising, Restuarants are empty but Swiggy/Zomato have been home delivering, Coaching Institutes are Struggling with Students but Byju/Coursera are becoming big every day, traders are struggling but FLipkart/Amazon sales are growing exponentially. Economy is not sluggish rather business models are evolving & one who rides this wave would survive & rest would fade into history.


How is AI boosting technological growth?

AI is a once-in-a-lifetime, general-purpose technology that promises to provide impetus to the engine of growth. 
AI has the potential to do what Internet did for us in 90’s. Business Processes need to re-fabricate & evolve to ride this wave. Applications of AI are so wide-spread (Smart Security Surveillance, Predictive Asset Management, Smart Digital Signages etc) that all CXO’s need to do is strike a balance with Business Value Realization & innovation quotient.


How is AR/VR advancement providing ease to business development?

Forget checking social media or online shopping, because it’s possible that the future of lunch breaks will include strapping on a headset to ride an underwater rollercoaster. Well, AR/VR is not just for play. With Metro cities becoming mega cities, collaboration is the need of the hour & AR/VR comes handy. Imagine, at the comfort of your living room, one can do an Apartment walkthrough, design interiors, try new clothes/shoes. Even Marketing would become more immersive in the near future & potentially, every industry would get a 360 degree view. Invariably, there is no limit to its capability.

How is big data a boon to technological development?

Big data is a key player in determining how and when Business Intelligence will shoot up in its manifestations and insights that precipitate as a result of analysis and massaging of the data. AI that I spoke earlier can only be effective when its married with loads of unstructured data as it can imbibe human like reaction/response only when it gets exposed to human like data.

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