Indian firms tread with caution but are fast catching up with ChatGPT

New Delhi, May 6 (IANS) As artificial general intelligence (AGI) continues to carry out specific tasks such as language translation and data analysis for companies, Indian enterprises and startups are also bullish on the AI technology but are weighing its pros and cons before they implement it in their products for customers.

Tata Consultancy Services (TCS), Infosys, Wipro, HCL Tech and Tech Mahindra, among others, have placed a big bet on AI.

While TCS is likely to have a centre of excellence around generative AI soon, Infosys is currently working on initiatives that target particular client business segments with generative AI platforms.

"We have used our internal software development libraries to train open-source generative AI platforms. We anticipate generative AI to increase our opportunities to collaborate with clients and to boost our own productivity," according to Salil Parekh, CEO of Infosys.

According to TCS Chief Operating Officer NG Subramaniam, clients are already asking about ChatGPT and what it is going to do in the future, as TCS aims to build core competencies around a responsible and ethical AI, keeping its pros and cons in concern.

A Gartner report said this week that publicity around ChatGPT prompted 45 per cent executives to increase AI investments.

Seventy percent of executives said that their organisation is in an investigation and exploration mode with generative AI, while 19 per cent are in pilot or production mode.

"The generative AI frenzy shows no signs of abating. Organisations are scrambling to determine how much cash to pour into generative AI solutions, which products are worth the investment, when to get started and how to mitigate the risks that come with this emerging technology," said Frances Karamouzis, Distinguished VP Analyst at Gartner.

The report found that 68 per cent of executives believe that the benefits of generative AI outweigh the risks, compared with just 5 per cent that feel the risks outweigh the benefits. However, executives may begin to shift their perspective as investments deepen.

As the online learning space goes through a definitive churning in a hybrid mode in the ChatGPT era, Flipick has doubled down on offering an AI-driven immersive learning experience to its customers.

The company has industry-leading SaaS-based Learning Management System (LMS) for higher education and corporate training in the US, the UK and India.

Moreover, CourseBOT, an AI-assisted course builder with SME collaboration and DocuBOT are helping thousands of students get conversational chats with the content to have a better learner perspective.

Ravi Dugal, Flipick's Founder and CEO, told IANS that AI-powered tools can help institutions streamline administrative tasks and optimise resource allocation.

Software major Adobe has announced new generative AI innovations across its Experience Cloud that aim to redefine how businesses deliver customer experiences.

"Adobe has a long history of unlocking AI as a co-pilot for marketers, and we have a vision for generative AI that covers the full lifecycle of customer experience management, with the enterprise-grade security and data governance that our customers expect," said Amit Ahuja, senior vice president, Digital Experience Business at Adobe.

Jio Haptik Technologies Limited, a subsidiary of Reliance Jio Platforms, recently announced that it plans to use ChatGPT AI and Generative AI to build the most human-like bots for large enterprises.

Travel service provider MakeMyTrip is also experimenting with AI chatbot ChatGPT to see if its integration can make customer experiences and their vacation planning better on the platform.

Sanjay Mohan, Group CTO at MakeMyTrip (MMT), told IANS recently that the ChatGPT integration was at an early stage and the company will decide to use it only if satisfied with the results.

Meanwhile, the demand for AI talent has grown 11 per cent in India over the last six months, driven by job demands in sectors like IT, retail, telecom, BFSI and advertising/market research sectors.

The Indian job market will witness a 22 per cent churn over the next five years with top emerging roles coming from AI, machine learning, and data segments, according to the report by foundit (previously Monster India & APAC).