Global market research company Forrester revealed in an event held in New Delhi that Gen AI is an inflection point technology that is here to stay, and will drive sustained industry transitions for several years to come. Ashutosh Sharma, vice president and research director, Forrester said that Gen AI is certainly the “biggest tech thunderstorm”.
Inflection Point Technologies of the Past
Inflection points technologies are basically tech products that are expected to become a trend and be used to by organisations and industries across domain thus driving value in the industry as opposed to technologies that fade away after initially hysteria. Some of the inflection technologies of the past are:
- Personal computers in 1981.
- World wide web in 1990s.
- Mobile internet and smartphones in 2007.
- Cloud computing in 2009.
Where are Indian Organisations as Far as Gen AI Adoption is Concerned
Sharma also revealed that over of the organisations that they surveyed had already started to use Gen AI and were is different stages such as:
- Education: Learning more about Gen AI.
- Exploration: Currently exploring ways to experiment with Gen AI.
- Experimentation: Have started dabbling in the technology.
- Expansion: Have concrete plans in place to expand the usage of Gen AI.
Forrester researchers revealed that all organisations will be using Gen AI in some form or the other in the year 2024. In addition to this, one in five Indian firms are likely to benefit from Gen AI’s transformative impact, added the researchers.
How Do Organisations Plan to Benefit from Generative AI?
The report highlighted that organisations plan to deploy the technology for the following reasons:
- Generating content in customer support channels.
- Supporting employee productivity.
- Tp help employees with self-service for analytics and data.
- Generating content for digital experiences.
- Generating images for use in digital experiences.
- Generating images for use in advertising or marketing creatives.
- Generating copy text content for advertising or marketing creatives.
The organisations surveyed also believe that some of the areas that organisations anticipate to benefit from the technology are as follows:
- Information technology.
- Customer service.
- Marketing and sales.
- Research and development.
- Financial management.
- Human Resources.
- Ecosystem mangement.
- Legal and compliance.
Top Concerns With Regards to Gen AI Usage
The research also highlighted that organisations face the following concerns with regard to Gen AI adoption:
- Developing the skills and governance to deal with Generative AI is challenging.
- Privacy and data protection concerns.
- Displacement of human jobs by AI.
- Bias in Generative AI outputs.
- Missing the boat of the new age technology and falling behind.
- Usage of unsanctioned Gen AI data by employees.
- Potential of AI models hallucinating.
- Executive leadership not having an understanding of the technology.