GenAI Production Deployments on the increase in India: EY India By CIOTechOutlook Team

GenAI Production Deployments on the increase in India: EY India

CIOTechOutlook Team | Friday, 10 May 2024, 06:02 IST

According to estimates by counseling firm EY India, around 20% of generative artificial intelligence (gen AI) proofs of concept (PoCs) in India were created in 2024. Furthermore, EY's examination of the last two quarters showed that 15-20% of homegrown undertakings and 30-40% of multinationals' global capability centers (GCC) have carried out gen AI PoCs.

“Clients are doing a lot of experimentation but scaled production deployments of use cases are still few and far apart,” Mahesh Makhija, technology consulting leader at EY India, told sources.

He added that simultaneously, AI, gen AI, and organizations setting up their information to use these advances are probably going to be one of the biggest drivers of income in the monetary year 2025, prompting sizable gen AI contracts for Indian IT.

“FY25 will be a year where people will get a little more organised on the kinds of experiments and PoCs they're doing, so there will be a large number of these projects which will happen in a slightly more coordinated fashion. But I expect to see pretty large deals being run by these IT services companies,” Makhija said.

This financial year will likewise possibly see deployments of some of the first AI bots in quite a while, such as customer service, deals, underwriting and collection. However, the innovation for this is a work-in-progress. Makhija said the profit from the venture can be "dramatic." He added that some AI specialists might actually bring down businesses' expenses by 60-80%, especially if they can be utilized for more than a single use case.