By ToAI Team
On Monday, a search analytics firm named Elastic published a report titled “The Elastic Generative AI Report: One Year Later,” which delves into the impact and obstacles of generative AI implementation on a global scale. According to the study’s findings, India stands out as a frontrunner in embracing AI and GenAI technologies, with 81% of surveyed organizations already integrating this cutting-edge technology into their workforce. The potential disruptive power of GenAI has captured the attention and resources of India’s IT and data leaders, pushing the country’s leading adoption of GenAI further.
Companies that embrace GenAI, driven by business context powered by search capabilities, stand to gain insights for innovation, operational efficiency enhancements, and pioneering customer experiences. Despite enthusiasm for GenAI across regions and industries, key concerns among decision-makers in India hinder effective implementation strategies.
While there is excitement surrounding GenAI adoption, Indian organizations still face data management and security challenges. All respondents of the study, about 99%, expressed worries about data processing and utilization, underscoring the importance for companies to collaborate with GenAI providers who can ensure the protection of information. Accessibility and precision remain key factors, with 93% citing difficulties in search functionalities.
“The disruptive potential of GenAI has captured the imaginations and budgets of India’s IT and data leaders, as seen by India’s lead in GenAI adoption”, quoted Karthik Rajaram, area vice president and general manager of Elastic, India.
IT leaders shared their expectations of using GenAI to improve customer experience and operational efficiency while expressing concerns about challenges such as expanding complex data ecosystems. They highlighted issues related to security, visibility and real time data analysis required for GenAI adoption.
In India, organizations see the potential for GenAI to boost productivity, with 73% believing that conversational data search capabilities could greatly enhance efficiency. Nearly half, about 49%, anticipate time savings of two or more days per week per employee through data search features. India is confident about increasing investments in GenAI in the coming years, as 94% of respondents plan to allocate a separate budget towards GenAI initiatives within the next 12-24 months to steer ahead of innovation.
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