Successful Adoption of Generative AI in Business
Indian Economy & Market|July 2023
Digital transformation' has been a catchphrase for a while now. Large, medium, and even small enterprises are transitioning to more tech-oriented operations and interfaces.
Sudip Bandyopadhyay
Successful Adoption of Generative AI in Business

And it's true that using technology, such as Al for business, can deliver a strong competitive advantage. However, a study by BCG suggests that what's more important than investing in cutting-edge technology and algorithms is the rewiring of decision-making and operations to extract value. It also underscores the heightened significance of investing in human capabilities in today's landscape.

The BCG report reveals that pioneers of Al @ scale-the companies that have scaled Al across the business and achieved meaningful value from their investments typically dedicate 10% of their Al investment to algorithms, 20% to technologies, and 70% to embedding Al into business processes and agile ways of working. This essentially means that successful organizations have invested twice as much in people and processes as they have in technologies.

In the quest for achieving substantial financial benefits from technology, it's important to recognize that automation alone is not enough. To truly harness the potential of technology and drive growth, enterprise focus must shift towards learning and organizational transformation. Only through this symbiotic relationship between humans and technology can new opportunities be unlocked and adopted in a rapidly changing landscape.

この記事は Indian Economy & Market の July 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Indian Economy & Market の July 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

INDIAN ECONOMY & MARKETのその他の記事すべて表示
NEW INVESTMENT PRODUCT CATEGORY IS SEBI'S LATEST MOVE COMMENDABLE?
Indian Economy & Market

NEW INVESTMENT PRODUCT CATEGORY IS SEBI'S LATEST MOVE COMMENDABLE?

The Securities and Exchange Board of India (SEBI) has introduced a consultation paper proposing a new investment product category aimed at addressing a specific market need. This proposed asset class would offer investment options that sit between mutual funds (MFS) and PMS, filling a gap and providing greater flexibility in portfolio management. The new investment vehicle is designed for investors who are prepared to take on riskier market positions but find PMS schemes or AIFs out of reach. SEBI after reviewing the feedback and finalizing the regulations through stakeholder discussions, may issue the final regulations.

time-read
5 分  |
August 2024
DECODING THE CHINA MYTH
Indian Economy & Market

DECODING THE CHINA MYTH

Myths die hard. Among these is the great myth that China's poised to take over the world. Here, James Rickards debunks that myth.

time-read
7 分  |
August 2024
What Is In Store For The Indian Economy?
Indian Economy & Market

What Is In Store For The Indian Economy?

Until the 2014 Lok Sabha elections, when the Bharatiya Janata Party secured 282 seats and Narendra Modi ascended to power, India experienced 21 years of coalition governments. A decade later, the BJP holds 240 seats in the Lok Sabha, and India is once again governed by a coalition. Fitch has indicated that coalition politics and a weakened mandate for the NDA could hinder the passage of ambitious reform legislation. It raises the question: Do coalition governments impede the economic reform agenda?

time-read
5 分  |
July 2024
Transforming The Indian Stock Market
Indian Economy & Market

Transforming The Indian Stock Market

With a rising number of millennials, Gen Z investors, and tech-savvy traditional investors, Robo advisors are making a significant impact on the FinTech and WealthTech sectors. Factors like growing per capita income, favourable demographics, and increasing smartphone and internet Usage further enhance India’s potential as a robust market. Al’s role in stock market analysis is unquestionably growing. It enhances rather than replaces human judgment, providing powerful tools for informed investment decisions.

time-read
6 分  |
July 2024
Rudra Global Infra Products Ltd.
Indian Economy & Market

Rudra Global Infra Products Ltd.

READY FOR EXPONENTIAL GROWTH WITH ENTRY INTO AEROSPACE & DEFENCE SECTOR

time-read
5 分  |
July 2024
Dividend Powerhouses Best 5 Stocks for Yield and Growth
Indian Economy & Market

Dividend Powerhouses Best 5 Stocks for Yield and Growth

Enhance your investment strategy in these volatile times with these highyield dividend stocks known for their strong performance and reliability.

time-read
8 分  |
July 2024
Face to Face
Indian Economy & Market

Face to Face

\"We believe ourselves to be service providers and not any goods manufacturer\"

time-read
4 分  |
July 2024
THE REALITY OF CORPORATE ESG INITIATIVES
Indian Economy & Market

THE REALITY OF CORPORATE ESG INITIATIVES

Today, environmental, social, and governance (ESG) considerations dominate business discussions and have become an integral part of the strategies of many organisations in different industries. While some companies are grappling with these new standards and commitments, others, already aligned with the Sustainable Development Goals (SDGs), are well prepared to meet the evolving regulations and standards related to corporate social responsibility (CSR) and ESG.

time-read
4 分  |
July 2024
Standard Capital Markets Ltd. Incorporates Subsidiary for Insurance Broking
Indian Economy & Market

Standard Capital Markets Ltd. Incorporates Subsidiary for Insurance Broking

Standard Capital Markets Ltd., a leading player in the financial services sector, has announced that it has incorporated a subsidiary under the name of “Standard Insurance Broking Ltd.” to act as a Direct broker under the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018.NOC of Insurance Regulatory and Development Authority of India already taken and now company will also apply for taking Insurance Broking License of Insurance Regulatory and Development Authority of India (IRDAI).

time-read
2 分  |
July 2024
THE IMMINENT MIDDLE EAST WAR
Indian Economy & Market

THE IMMINENT MIDDLE EAST WAR

Recent intelligence from a variety of sources points to an Israeli war against Hezbollah, which is an Iranian proxy. Hezbollah is systematically attacking Israeli bases, radars, intelligence-collections facilities and other defense system components. Now the attacks are spreading to include Israeli settlements in the West Bank and Galilee. You’re just not hearing about it in the mainstream media. These attacks have three effects: They break down Israeli military and intelligence systems, terrorize the civilian population and handicap Israel’s ability to conduct air attacks on Syria or Lebanon. James Rickards points out why all these are imminent.

time-read
5 分  |
July 2024