Prince Thakur
2 months ago
Gen AI: India Inc proceeds cautiously, upping AI game in global competition
Indian businesses are increasing their use of artificial intelligence (AI) in comparison to their international rivals. They are being cautious, though, when it comes to generative AI (Gen AI), the newest development in the field of technology. Like their international counterparts, the majority of India Inc.'s Gen AI trials and implementations have been concentrated on applications related to customer experience and human resources.
15–25% of Indian businesses' Gen AI proof-of-concepts have advanced to full-scale production, per an EY analysis. By contrast, the largest percentage of AI use worldwide is seen in large Indian businesses (those employing more than 1,000 people), where 59% of them actively use AI in their operations. This information comes from IBM's AI use index. Businesses of all sizes are enhancing their generative and artificial intelligence capabilities.
In August of this year, for example, the NYSE-listed IT services business Genpact announced the first-ever appointment of Sanjeev Vohra to the position of chief technology and innovation officer. His hiring coincides with the company's increased focus on cutting-edge technology and AI capabilities.
In a similar vein, Anil Pawar was named chief AI officer and leader of the AI cloud business unit by Yotta Data Services in May of this year. Yotta is one of the first providers of data centers to work with and acquire H100 Tensor Core GPUs from Nvidia.
Conglomerates
AI-based solutions are being used by industry leaders like Larsen & Toubro (L&T) in a variety of functions, such as supply-chain pricing discovery, IT coding assistance, safety, and project performance/risk prediction.
"A data lake is created by synchronizing real-time data from many IT systems and operational technology (OT) through linked IoT (Internet of Things) devices. According to R. Ganesan, head of L&T Construction's Corporate Center, "this data is then translated into business dashboards, providing real-time status updates for business and functional leaders."