December 29th 2024.
In recent years, artificial intelligence has evolved from being a fleeting trend to becoming a widespread reality, making its mark across various industries for its potential to increase efficiency, generate revenue, and create new job opportunities. However, concerns around its use and impact on jobs still linger.
Gone are the days when AI was just a buzzword; it has now become an integral part of business strategies in multiple sectors. However, its full impact on job roles is still unclear, as well as issues surrounding intellectual property, data ownership, privacy implications, and liability in case of accidents or mishaps caused by AI.
As technology continues to become more human-like and ingrained in our daily lives, companies are now striving to unlock its full potential by finding innovative ways to engage with customers and employees, improve operational processes, and create new sources of revenue. Anup Purohit, CIO of Wipro, believes that the future holds a seamless integration of AI into everyday operations, going beyond the initial hype and entering a more mature phase.
Purohit also highlights that the growth of AI is not limited to technology firms, as more traditional sectors like banking, finance, and healthcare are also embracing AI to improve efficiency and enhance customer engagement. He notes that AI is no longer just a passing trend, but a reality that is gaining momentum across all industries.
Furthermore, Purohit mentions that CIOs are shifting their approach from proof of concept (POC) to implementing AI initiatives at a larger scale, in order to turn the "GenAI trend" into tangible business value by solving real-world problems and managing costs effectively.
According to Nasscom, Indian enterprises will need to expand their use of AI beyond basic virtual assistants and predictive analytics and explore a broader range of AI-based solutions to scale its potential impact.
Atul Soneja, COO of Tech Mahindra, emphasizes that the global AI market is rapidly growing and expected to reach over USD 631 billion by 2028. AI is already transforming industries and economies, with endless possibilities in areas such as predictive analytics in agriculture and personalized healthcare solutions. Soneja also points out that emerging technologies like quantum computing and federated learning will redefine the AI landscape and open up new opportunities.
The future of AI lies in autonomous intelligence, where machines will take on more human-like tasks, allowing enterprises to handle mundane and repetitive jobs efficiently. Arun Parameswaran, MD of Sales at Salesforce India, predicts that 2025 will mark the dawn of agentic AI, where AI systems will move beyond being reactive assistants to becoming proactive, autonomous agents capable of transforming customer engagement, business efficiency, and decision-making.
Purohit believes that AI agents will significantly enhance business processes by improving efficiency and customer service. Cloud computing also continues to gain traction, with major players like Amazon Web Services and Microsoft Azure expanding their presence in India to meet the growing demand for scalable and flexible IT solutions. According to IDC, the Indian public cloud services market is expected to reach $24.2 billion by 2028, driven by a CAGR of 23.8% from 2023-2028.
Purohit notes that the integration of AI with cloud services will allow companies to scale their AI models quickly, manage large datasets in real-time, and gain valuable insights for smarter decision-making. This combination will help businesses innovate faster, respond to market changes more effectively, and maintain a competitive edge in the long run.
The rapid evolution of technology is also reshaping the job landscape, and the demand for skilled talent is expected to soar as AI continues to redefine job roles across sectors. Purohit emphasizes that with the deployment of AI-driven solutions, there will soon be a demand-supply gap for skilled professionals.
Future professionals will need a combination of technical expertise and soft skills, such as adaptability, emotional intelligence, and strong communication abilities, to leverage AI and solve complex business problems. As AI becomes more prevalent in the business world, there will be a critical need for individuals who can bridge the gap between technology and business strategy.
Harrick Vin, CTO of TCS, predicts that AI will impact knowledge work in unprecedented ways and will continuously shape the way businesses operate. He believes that to remain competitive, businesses will need to redefine their work practices continually. This will require professionals to have greater levels of critical thinking, design, strategic goal setting, and creative problem-solving skills.
Vin also states that future roles will require a deeper understanding of both technical and soft skills, such as learning to learn, critical thinking, and techno-functional skills for applying computational thinking to solve complex domain problems.
In conclusion, as the use of AI becomes more widespread, it is essential for businesses to adapt and stay ahead of the curve by embracing new technologies. This will require a skilled workforce equipped with the right combination of technical and soft skills. With the right approach, AI has the potential to transform the way we work and live, creating a more efficient and innovative future.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
