India will be the global nucleus of Generative AI, says TCS CEO
artificial intelligence’s impact on our public consciousness better than leading dictionary publishers Collins naming the abbreviation of the term — ‘AI’ — as their word of the year. Yet, we are still only at the advent of this technology revolution.
With many rapid developments in GenAI tech, tools and proof of concepts, 2024 is poised to be the year of acceleration.
Enterprises across the world are strategising on acquiring new AI-fuelled capabilities to deliver elevated customer experience and process augmentation and to gain competitive edge.
For example, the healthcare industry will see a massive shift from generic treatment to AI-led diagnosis and personalised treatment, from reactive care to predictive care. Retail is another industry where GenAI can transform experiences — from predictive inventory management for retailers to personalised shopping experiences for customers.
Similarly, every industry is set to be lit with a new wave of innovation. The ‘Future of Jobs’ report by the World Economic Forum (TCS is a strategic partner to the WEF), estimates that 12 million more net jobs will be created by AI, than displaced by it, by 2025.
India’s 5 million-strong IT industry workforce, once retrained and reskilled, has the opportunity to be at the very epicentre of this global opportunity for economic growth and job creation. At Tata Consultancy Services, we see this as a once-in-a-lifetime opportunity for societal and marketplace reimagination.
