The way that generative AI is being discussed suggests that, depending on how IT businesses get ready for the future, India’s technological environment may undergo a major change.
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India Needs to Prepare for the Wave of Gen AI 2024
Companies like Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd. have long dominated the Indian IT sector. Depending on how the IT businesses get ready for the future, India’s technological environment may undergo a major change given how the discussion surrounding generative artificial intelligence has changed over time.
Chrys Capital’s Operating Partner Sanjay Jalona told NDTV Profit’s Niraj Shah, “The advancements in GenAI and AI have become a lot more pertinent and effective today.” Three reasons why Indian IT would transition smoothly are provided by Jalona, the former MD and CEO of Larsen & Toubro Infotech Ltd.:
Businesses that have prepared ahead of time by investing in chipsets, creating databases, or developing extensive language models have made the environment ready to accept Gen AI. Large corporations such as Microsoft and OpenAI are investing substantial sums of money in the technology while keeping it open source, which is what has sparked all this.
The general public has already embraced Gen AI; it is no longer only a business tool. People’s lives are being impacted by technology, from adults using it to arrange a trip to toddlers utilizing it to help with schoolwork.
Enterprises have witnessed the potential of Gen AI to enhance their operational efficiency, which brings up the topic of investments once again. Businesses are increasingly making sure that investments in Gen AI are made to increase the effectiveness of their operations.
According to Jalona, it doesn’t matter if Gen AI is viewed as a danger or an opportunity for India’s IT industry since businesses are adopting a Gen AI/AI-first mentality, which is transforming company culture. He states, “Indian IT will still come out on top. The one thing tying them all together is how can they produce amplified business outcomes using Gen AI.”
Can AI Take the Place of Indian IT Workers?
The effect AI will have on work and the possibility of job losses has been an often expressed worry. Thus, the issue is: Will Indian IT, which has always been recognized as a supplier of labor to its clients, cut back on the number of employees it employs? Sandeep Kalra, the MD and CEO of Persistent Systems, disagrees.
Sandeep Kalra, the MD and CEO of Persistent Systems, disagrees. “Gen AI is an instrument. This tool will make any software developer more productive than one who doesn’t use it. He applies the same logic to businesses, claiming that those that embrace a Gen AI culture would be able to set themselves apart from competitors and become “faster, better, cheaper.”
The quantity of repetitious, low-skilled grunt labor has long been a grievance among employees in India’s IT firms. The use of Gen AI in this situation would automate such tasks, eliminating the need for repetitive manual labor. In fact, as AI becomes more widely used, Kalra contended, human labor will increase.
“As a result of AI, use cases for product engineering, data engineering, and software will all arise.”
Getting Ready for the Future
India’s IT organizations need to make a shift in their business models and cultures as the use of Gen AI accelerates. Jalona cautioned, “While talking about culture, we should also remember that there will be cannibalization of existing business.” She stated that this is inevitable and that it won’t stop until someone else does it first or you take the bait and profit from it yourself.
While controlling the short-term effect may be challenging, he and Kalra both think that Gen AI is only the tip of the iceberg and will likely spawn off multiple opportunities in the long run.
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