AI-Powered Centralized Platform-Based Business Model Framework for Indian Handloom Exports in the US Market
摘要
The Handloom sector in India has been there for decades and weaving has been a profession by tradition for many of the communities that have existed for a long time. If we observe the past few years, we see that there is a decline in the handloom export and an increase in workforce attrition in this sector. There are multiple reasons for this shift in the workforce from the handloom sector to other sectors which are more promising in terms of better pay and relatively less manual labor. This paper tries to propose a new business model that is backed up by artificial intelligence and machine language algorithms that will help and enable to creation of a centralized platform for the weavers that can give them direct access to market insights, customer preferences, latest trends, customer feedback, and much more. The objective of this paper is to reduce the burden on the weaver who otherwise have no insights into the market demand or customer preferences, which creates a demand-supply gap and discourages them from continuing the profession of weaving as it costs them huge in terms of investment be it money needed for the looms or the time, and energy spent behind the loom in weaving the handwoven products.