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Early GenAI adopters have made slow but definite progress, moving from demos and POCs to production releases.
EY analysis suggests that enterprises are at different levels of adoption maturity. GCCs are moving fast to establish their capability as COEs, but domestic India enterprises are more cautious. While some are prioritizing internal apps due to lower risk and verification ability, others are using customer facing GenAI apps.
With limitations in current LLM tech stacks, data privacy and sovereignty issues and a lack of preparedness among enterprises, broader functional transformation is slow.
Companies need to adopt a two-speed approach – deploying ‘fit for purpose’ use cases that generate immediate value while preparing for functional transformation that the next wave of tech innovation will enable.
Model capabilities have rapidly evolved across several dimensions.
There is significant momentum towards building agents that can work beyond point tasks and across multiple domains to accomplish a given goal.
Models have become smaller, more energy efficient and more performant at specific tasks including on device use cases.
Cloud and platform players are rapidly advancing AI offerings.
Indic LLMs supporting Indian languages are being developed as the large Indian population engages with internet and digital interfaces in local languages.
India Inc is adopting GenAI with POCs going into production for internal business use cases.
Indian GCCs are unlocking the potential of GenAI by positioning themselves as COEs at a global scale within their parent enterprises, particularly in the financial services, retail and consumer products sectors.
The government, large business groups and start-ups are building crucial domestic and localized GPU infrastructure, which will boost enterprise adoption of GenAI.
New focus sectors such as technology, industrial, energy and consumer product goods (CPG) have emerged in the M&A landscape in 2024.
Broader solution offerings vis-à-vis conventional applications of GenAI have led to increased M&A activity, also highlighting investor confidence in India’s AI prowess.
The Indian government has announced plans to operationalize IndiaAI Mission, including investing in all the building blocks of an AI ecosystem.
It also issued advisories for digital platforms and intermediates to do the due diligence on AI-generated content.
