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A senior company executive stated that India is one of the most priority markets for Oracle NetSuite. He also noted that small businesses in India, especially outside major metropolises, are increasingly using artificial intelligence (AI) and cloud technologies to expand into new territories, including abroad.

During the Oracle AI World event, speaking to PTI, Amit Suksen, Vice President of Group and Head of Asia at Oracle NetSuite, the AI-powered business management platform, reported on the growing pace of development among Indian enterprises over the last four to five years.

Suksen emphasized that one of India's significant advantages is its young population, which is inherently oriented towards using cloud and AI technologies, unlike some other developed economies that prefer using outdated systems.

He added that technology helps bridge the gap between large and small firms, allowing small businesses to grow beyond their original city. Previously, studying a new market required expert teams only in large companies; however, now small businesses can use AI to check rules and regulations of another state, make decisions about entering or exiting a market, and manage fluctuations such as currency changes.

Suksen identified tier-two cities as the biggest opportunity for the company's growth in India but pointed out that cost concerns restrain small traders and entrepreneurs in these regions. He reported that conversations with business owners showed that technology adoption in cities outside the main metropolises lags due to fear of expenses, and NetSuite aims to demonstrate to these businesses that implementing AI is not as expensive or complex as they think.

In addition to tier-two cities, the company optimistically views sectors such as software, accounting, insurance, as well as manufacturing, retail, and food and beverage. Regarding concerns about uncontrolled behavior of AI agents, Suksen stated that strict control is critical. He explained that the risk exists for organizations that have not implemented all necessary checks and balances, but NetSuite provides built-in rules ensuring complete owner control over the actions the AI agent performs on their behalf.

Comparing the situation to the shift to cloud computing 28 years ago, Suksen noted that companies remaining on old local systems are 'truly behind,' while those who adopted cloud solutions early are outpacing competitors. He advised everyone to adopt AI now, as refusing to do so means missing a growth opportunity that allows for doing things previously unimaginable.

If technical problems arise in the UMANG application, preventing you from viewing your PF statement or checking the status of your fund withdrawal application, there is no need to worry. You can review information about your provident fund (PF) and submit an online claim for money withdrawal through the official portal of the Employees' Provident Fund Organisation (EPFO).

To use this service, your Universal Account Number (UAN) must be activated, and all necessary KYC procedures must be completed. Although the UMANG application is used for numerous government services, due to current technical glitches, difficulties are being observed in opening the EPF statement or viewing application details.

In such a situation, it is recommended to use direct access to the official EPFO portal, which provides the ability to perform all necessary operations related to PF.

First, open the official EPFO website in a browser: epfindia.gov.in. Next, select the relevant option under the 'Member Services' section. Alternatively, you can view the statement using the dedicated EPFO portal: passbook.epfindia.gov.in. Prepare your UAN and password to log in.

After logging in, select the Member ID whose statement you wish to view. This statement will display the amount deposited into the account, as well as details of all transactions. Furthermore, the statement contains information on contributions from both the employee and the employer, as well as accrued interest. If you have multiple Member IDs, ensure that you have selected the correct account.

To withdraw PF funds, log into the EPFO member services and select the 'Online Claim' option. Choose the appropriate claim type according to your eligibility and fill in the required information. Before submitting the application, carefully verify the bank account details and other information. The available claim options depend on your situation and prevailing rules.

Before filing an online claim, you must ensure that your UAN is active. Information regarding your Aadhaar, PAN, and bank account must be linked to the UAN and verified if necessary. If there is an error in the bank account details or other KYC details, it may lead to the suspension of the application, so any incomplete information must be corrected first.

If verification via Aadhaar-based OTP is required during the application process, enter the received OTP on the registered mobile number. Then, follow the instructions provided on the portal to complete the process. It is important to remember that the OTP should not be shared with third parties; the application will only proceed after successful verification.

The status of the submitted online claim can also be tracked on the portal. To do this, log in and navigate to the 'Claim Status' section. If the claim is under processing, periodically check the portal for updates. It should be noted that submitting an application does not guarantee immediate credit to the account, as settlement times may vary.