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Artificial intelligence (AI) presents a $15-trillion opportunity for India over the next few years with the transformations it can bring to supply chains , vendor management of companies and tackling a wide genre of issues across markets, said Joe Atkinson, chief AI officer at global consultancy PwC. Budget with ET Budget 2025: A CFO’s playbook for operational excellence and long-term growth Rising Bharat may need to take center stage for India’s game-changing plans Will Indian Railways accelerate to global standards with govt’s budgetary allocation? “Companies can now deal with larger pools of data across a larger volume of clients and customers,” said Atkinson. “As a result, microtransactions have become much more workable and attractive.
Before AI, building an expensive infrastructure to pursue microtransactions was often impractical. It’s one example where AI is unlocking new business models.” He said that by using data derived from micro-transactions, companies can provide personalised services to customers on a different level, thanks to the hyper-personalised user environment generated with the help of recommendation engines using AI and gen AI .
Despite the power and abilities of AI and gen AI to work on data and create new insights, some companies are still not convinced about the technology and its impact on the overall production cycle. Instead of urging them to trust the technology blindly and expect a positive outcome, these companies should start implementing AI and these tools to improve productivity, said Manpreet Singh Ahuja, chief digital officer for India at PwC. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
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The next horizon emerges when gen AI empowers businesses to interact directly with their data, unlocking real-time insights and enabling precise, data-driven decision-making,” said Ahuja. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories End-to-end revolution Most large enterprises in India have crossed the zone of implementing AI and gen AI for productivity and are now using these technologies on their data to unlock insights into consumer behaviour. Though the degree of impact of AI could vary across industries and geographies, there is no single sector that will remain untouched, he said.
“This is where strategic gains take shape, paving the way for transformative opportunities and then start the journey of new revenues, innovative business models and growth. However, none of this is possible without the foundational investment in making data AI-ready,” Ahuja said. To inspire the confidence in its users to make the switch to AI, PwC implemented AI and gen AI tools across its entire 3,00,000-strong workforce, Atkinson said.
Additionally, the firm created teams that adopt an AI-first approach to rethink some of its current delivery models as they are likely to become obsolete in the future, he said. Additionally, the consultancy firm also created teams that adopt an AI-first approach to rethink some of PwC’s current delivery models as they are likely to become obsolete in future, he said. “No amount of technology you deploy in a professional services company will mean anything if your people are not using it or learning with it.
At PwC, we bring our people together in offices with AI champions to guide them through how to apply our AI tools — events we call ‘prompting parties’,” said Atkinson. These sessions allow people to put their training into action with the support they need to experiment and learn — driving not only the adoption of the tech, but the professional growth of our people at the same time, Atkinson said. This helped employees who were worried about AI taking their jobs get more comfortable with the power of the tech after seeing productivity gains in their daily work, Ahuja said.
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