Indian organizations set to boost GenAI investments

A recent study by NTT DATA highlights that Indian organizations are increasingly investing in generative artificial intelligence (GenAI), shifting from experimentation to long-term, performance-enhancing use cases. While India has made progress, global trends reveal that there is still room for growth in GenAI adoption.

A recent study by NTT DATA reveals that Indian organizations are planning to significantly increase investments in generative artificial intelligence (GenAI). This marks a shift from early experimentation to a focus on long-term use cases aimed at improving business performance, compliance, and safety. Globally, 99% of organizations surveyed have similar plans. The findings are based on a comprehensive survey involving over 2,300 IT and business leaders across 34 countries, including India.

While India has made notable progress in embracing GenAI, the study shows that 67% of Indian organizations have set up dedicated GenAI teams, compared to 83% globally, indicating a gap. The surge in investment follows the widespread adoption of generative AI technologies like OpenAI’s ChatGPT, which has demonstrated its potential to revolutionize business processes. Globally, common use cases include personalized service recommendations, knowledge management, quality control, and research and development (R&D). In India, however, the primary focus is on quality control, risk assessment, fraud detection, as well as personalized services and knowledge management automation.

Yutaka Sasaki, President and CEO of NTT DATA Group, emphasized that GenAI is a transformative force that businesses cannot afford to ignore. Two-thirds of C-suite respondents in India believe that GenAI will enhance competitiveness, drive innovation, ensure compliance, improve security, and increase revenue.

However, barriers to adoption remain, including the need for extensive user training, concerns over safety and security, limited perceived value, and a general lack of awareness about GenAI’s capabilities. Abhijit Dubey, CEO of NTT DATA, highlighted the significant impact GenAI will have on the global economy.