Generative AI Trends Redefining Industries
Published on : Wednesday 01-05-2024
The focus on industry-specific AI tools reflects a growing trend, says Madhumay.
There are four surprising Generative AI trends that are redefining industries. These are:
1. India leading the world in terms of usages of Generative AI.
-53% of all employees in India are using GenAI once a week as compared to an average of 40% of the employees in the world.
- 30% of the employees in India use AI daily in comparison to an average of 15% of the world’s workforce.
2. The dramatic adoption of Generative AI hasn’t been seen in productivity gains across the board.
There is a dissonance between some employees’ expectations and experiences. Some employees have even reported decreased productivity. The key lies in efficient adoption. Could the productivity benefits from generative AI be slow to materialise, in a repeat of Solow’s paradox?
Solow’s paradox suggests that strategic investments, systematic implementation, and adoption (and some patience) are all necessary in harnessing transformative technologies. Undoubtedly, the adoption rate of generative AI produces a wow effect, yet years of full scaling is required to get complete the productivity benefits.
3. There is an asymmetry in Gen AI reshaping the workforce across job levels
4. Value will accrue to industry specific AI tools not just fundamental models.
The focus on industry-specific AI tools reflects a growing trend where businesses are investing in tools that cater to their specific requirements, indicating that the value proposition of these specialised tools is recognised and sought after in various sectors.
Article Courtesy: NASSCOM Community – an open knowledge sharing platform for the Indian technology industry: https://community.nasscom.in/communities/digital-transformation/4-surprising-generative-ai-trends-redefining-industries
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Madhumay is Deputy Manager – Research at NASSCOM. His areas of interest include emerging technology, digital twin, Industry 4.0, and deeptech, among others
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