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Speaking at a panel discussion titled \u2018Responsibly transforming enterprises with generative AI\u2019, Mohit Kapoor, group chief technology officer of Mahindra Group, said that while generative AI has made headlines in the past year, overall development of artificial intelligence has played out across various Mahindra Group entities for much longer\u2014in areas such as connected cars, precision agriculture, new generation financing and lending tools, and more.<\/p>\n
\u201cThere are four clusters of generative AI which we\u2019ve successfully scaled up\u2014the first of which is customer service with the human in the loop. We\u2019ve done this to improve how our customer service agents on live chat or call can give better advice to the customer. The second is technical\u2014we have machines in factories that have large manuals written in foreign languages. We\u2019ve gotten all the machine manuals and 10 years of log on how a particular problem may have been addressed on the shop floor. We are also equipping our service centres run by dealers with generative AI-powered troubleshooting. Any problem that is logged can be searched upon by a supervisor of a service centre, who can read all the articles to find the problem. Finally, we\u2019ve used it in an ales and marketing analysis, as well as in finance,” Kapoor said, highlighting the areas where Mahindra has focused on through this year of AI.<\/p>\n
Rajkamal Vempati, president and head of human resources of Axis Bank, added that generative AI is now making inroads into consumption in businesses. \u201cThere is no vyapar <\/i>(business) without vyavhar <\/i>(behaviour, usage and consumption), and the beauty of generative AI is in making inroads in the wonderful space of vyavhar<\/i>,” she said.<\/p>\n
\u201cContent generation and creation would take two months to get the syndication done, and understand what needs to be done in terms of learning objectives. With generative AI, we\u2019ve reduced it to 20 minutes. This leaves us with huge productivity gains, but there\u2019s a lot of learning associated with generative AI at the moment,” Vempati added.<\/p>\n
Gobind Jain, chief financial officer, IndusInd Bank concurred, adding that the potential of generative AI \u201cis unlimited, provided you have got the necessary data to feed it”.<\/p>\n
\u201cIf you have captured the data, it has application in every field you can think of\u2014in customer interaction, you can improve on the customer interactions and tailor-make your products according to customers\u2019 needs. Your call centre can be replaced with generative AI, which can make a call to a customer based on specific requirements. When you build that empathy into generative AI, it makes for an amazing customer experience,” he added.<\/p>\n
Rishi Aurora, managing partner for India and South Asia at IBM Consulting, added that generative AI currently has strong resonance with business leaders. \u201cAbout 90% of chief executives say that they want adoption of generative AI, and I\u2019m hearing the same from across departments\u2014be it human resources, finance or technology. Further, 85% of these executives believe that their customers have either already embarked on these journeys, or will start using AI in some shape or form over the next two years. Adoption of generative AI is, therefore, key,” he said.<\/p>\n
Mahindra\u2019s Kapoor echoed Aurora\u2019s analysis, adding, \u201cMany things, which we thought would take years to accomplish on using traditional AI, have been fast tracked with generative AI. If data is available, accessible and actionable, we apply AI on it\u2014whether it\u2019s traditional or generative that can be decided later. We\u2019re focusing on customer centricity, sustainability and innovation. When returns on investments (RoIs) will come is important to consider for the future, too.”<\/p>\n
However, while each of the executives read generative AI as a key tool to adopt for business growth, they highlighted that there are questions to be answered. To this, IBM\u2019s Aurora said, \u201cHow do you really start adopting AI? People are going to drive adoption of AI, so as Vempati mentioned, it\u2019s important to upskill your people and ensure that AI is not only productive for your organization\u2014it\u2019s also creative. Then, it\u2019s important to drive innovation across your organization, but it has to be ethical. How do you trust AI models and their outcomes? The second investment has to be made in the right technologies.”<\/p>\n
Jain also added caution in terms of progress of innovation. \u201cWe have limitations of budget, and everybody competes for the same resource. The key thing here is the philosophy of the organization\u2014how does it want to thread this journey, and what is the problem statement? We need long-term plans, and can\u2019t think in the short-term for one year or so. However, technology is changing, and something new will come up soon, too.”<\/p>\n
Generative AI is the fad today, but something else will come tomorrow. You need to have calculated investments in order to take care of immediate needs, and be prepared for scalability of both the current and the future technologies,” he concluded.<\/p>\n
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