For generative artificial intelligence, “playtime is over”, and leaders are turning their focus from experimentation to long-term use cases that can improve business performance, workplace culture, compliance, safety and sustainability, a study by IT services company NTT DATA shows.
The study found that almost all leaders surveyed have invested in gen AI, and 67% of Indian leaders have established “expert” or “robust” gen AI teams. In India, the top use cases for gen AI include quality control, risk assessment and fraud detection, personalised service recommendations and knowledge management, and process automation.
Two-thirds of Indian C-suite respondents said gen AI will improve competitiveness, innovation, compliance and process adherence, security and revenue growth.
According to the study, a cycle of consolidation and integration of gen AI technologies is beginning, which combines experimental, phased and specific approaches. Focused spending plans will replace scattered experimentation.
Almost 96% of Indian CEOs anticipate a material impact from the technology, while 84% expect significant transformation in 2025. Around 95% of Indian respondents said they have a well-defined gen AI strategy, but 37% have not yet aligned that strategy with their business plans.
Nearly all respondents agreed that gen AI can spark creativity and improve R&D activities. All Indian IT decision-makers also said cloud-based solutions are the most practical method for supporting gen AI applications. However, 87% admitted legacy infrastructure hinders effective use of gen AI.
All Indian respondents are considering how gen AI can streamline future employee workflows and support processes. However, 55% said their employees lack the necessary skills to work with the technology, and about half are planning employee education and training to increase its adoption.
The top obstacles to adoption include need for user training, concerns about safety and security, users who perceive limited value, and limited/no awareness of the gen AI solution.
As gen AI expands, balancing responsibility and innovation will be a moral imperative as well as a strategic necessity for leaders, organisations and society. Around 81% of respondents said it’s “very important” for leaders to help employees balance innovation and responsibility.
Indian leaders called out user resistance to the technology, and express concerns about gen AI’s safety and security. Additionally, 81% of Indian respondents said government regulations on AI are unclear, which hinders gen AI strategies, and most expect spending on gen AI-related regulatory compliance to increase. Despite these challenges, 79% of Indian respondents said they feel “excited” and “amazed” about gen AI’s transformative potential.