ENERATIVE ARTIFICIAL INTELLIGENCE (AI) came into the limelight during a turbulent market phase, reminiscent of blockchain’s prominence two years ago. During that period, sceptics predicted the rise of cryptocurrency and the potential disruption of traditional finance, currency systems and the broader economy. Similarly, the tech industry was abuzz with discussions on the metaverse just last year, only to witness a significant shift towards Generative AI following the mammoth debut of ChatGPT in November 2022. However, in the case of Generative AI (GenAI), it is evident that this is not merely another fleeting trend. But why?
Quick ROI
Anup Purohit, CIO at Wipro, distinguishes between GenAI and other trends like blockchain and the metaverse, pointing out that Generative AI offers quick Return on investment (ROI) without the need for massive investments in development. Instead, companies like Wipro can leverage solutions from industry leaders like Nvidia and VMware.
“Unlike some technologies, Generative AI is readily available and doesn’t require a complete ecosystem overhaul,” Purohit said during the VMware Explore (Singapore) event. He emphasised the role of companies like Wipro in delivering business solutions to customers across various sectors, making Generative AI a practical and accessible tool. With its readiness and adaptability, Generative AI, in Purohit’s perspective, is not a passing fad but a significant and enduring presence in the technology landscape.
A McKinsey & Company study suggests that generative AI has the potential to contribute between $2.6 trillion and $4.4 trillion annually to the global economy, which is a figure that surpasses India’s current GDP, which stands at $3.75 trillion in 2023.
Bu hikaye BW Businessworld dergisinin 21 October 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BW Businessworld dergisinin 21 October 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
'Committed to helping India achieve carbon neutrality'
R. Purushothaman on how Danfoss India, part of Danish MNC, is supporting the nation's carbon neutrality goals with innovative products
INTELLECTUAL DEPTH & ACTIONABLE INSIGHTS
Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
AN INDUSTR BENCHMAR
The MacBook Pro M4 doesn't just set the bar for laptops-it becomes the bar. With unmatched performance, breath-taking design and incredible endurance, Apple's latest offering redefines what a laptop can achieve, says Sahil Mohan Gupta
The drip of good health
IV therapy seems to be a popular procedure with people in pursuit of good health and glowing skin. We spoke to medical experts about aspects to keep in mind before walking into a wellness centre to get that drip.
"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
"WE ARE FOCUSED ON BUILDING A RESILIENT AND SELF-SUSTAINING SEMICONDUCTOR ECOSYSTEM"
S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
Shaping the Future of Cyber Risk Management
With its mission to advance cyber risk quantification through the FAIR (Factor Analysis of Information Risk) model, the institute empowers businesses to align cybersecurity with broader objectives using structured, data-driven insights. Managing Director TODD TUCKER discusses how the institute’s methodologies and community-driven approach are reshaping industry standards worldwide, including growing interest in India and Asia Pacific
THE PILLAR OF A RESILIENT DIGITAL FUTURE
The rapid evolution of digital technologies has transformed the world, driving unprecedented connectivity and innovation. Yet, as the digital realm expands, so do vulnerabilities, with cyber threats emerging as critical challenges for businesses, governments and individuals
