We have a lot of interest in AI, GenAI, from our clients.interview

Businesses around the world are facing unprecedented levels of change. According to Accenture research, the rate of change impacting businesses has increased by 183 percent over the past four years, and by 33 percent in the last year alone. This disruption is not limited to issues such as geopolitical instability or widespread inflation. The biggest reason for the disruption behind GenAI's advances was technology. Key challenges facing businesses across all industries in India include cost pressures, increased use of new technologies such as AI, GenAI and automation, new growth avenues and talent availability. To succeed in the next decade and navigate new disruptions, companies will need to adopt accelerated and continuous reinvention strategies rooted in data, AI, and new ways of working. Upskilling plays a key role in bringing your strategy to life and helping your business maximize the potential of emerging technologies such as GenAI. While Indian businesses are optimistic about the future and spending on technology-driven reinvention, they need to take a more strategic and long-term view of their technology investment strategies.

With IT budgets tightening, are businesses willing to invest in new technologies like GenAI?

As companies navigate the current macroeconomic environment, they are turning to technology to overcome business challenges. We continue to see companies prioritize investments in large-scale transformations that may slow revenue growth while limiting discretionary spending on smaller programs. Despite all the constraints, companies across all industries are recognizing that technology is the key to reinvention and growth. We work with multiple companies to help them reinvent their businesses and gain a competitive edge using new technologies like GenAI. Our research shows that companies that invested in new technologies, skills and ways of working outperformed other companies with average returns 5.6 percent higher between 2019 and 2022. As more companies realize the value of new technology in profitability and growth, they are eager to use it at scale across the enterprise.

Are these investments geared toward proof of concept (PoC) or moving toward actual implementation?

Currently, there are two companies in India when it comes to implementing new technologies such as GenAI. The first set consists of companies that are still in their PoC stage and are considering their options before committing to them in earnest. The second set are companies that have a robust digital core and data foundation and are working to scale new technologies, such as generative AI, to achieve new performance. frontier. We are seeing steady progress across both categories. Reinventing the enterprise using GenAI requires leaders to be value-driven in all their chosen business functions. Too many companies conduct pilots or PoCs without an executive-approved mechanism to assess business value.

Which industries are showing the most interest in adopting GenAI?

GenAI is currently attracting interest from companies across a variety of industries. Consumer industries such as banking, consumer goods and services, retail, telecommunications, media, and automotive are currently seeing increased interest. Legacy industries such as energy, mining and utilities are also actively exploring the potential and value of their businesses.

In the second quarter, Accenture secured $600 million for GenAI projects. What does your deal pipeline look like?

GenAI is rapidly evolving and is still in the early stages of maturity and adoption. Our clients have great interest in his AI and GenAI across industries. Our research shows that 80% of Indian leaders see GenAI as the number one lever for driving revenue growth, and that companies are increasing their focus on technology to stay relevant with the times. We are reaffirming our commitment to continue investing. We work closely with our ecosystem partners to help our customers understand the right data and AI infrastructure they need and how to achieve tangible business value.