Artificial Intelligence
AI is not just a buzzword, it is a game-changer, opening up a massive $15 trillion opportunity in India’s future. Joe Atkinson, PwC’s Chief AI Officer, explains how Artificial Intelligence is transforming everything from supply chains to customer service, bringing unprecedented benefits to businesses.
AI’s ability to handle huge data pools and serve a wide customer base is making once impractical microtransactions a reality. Before AI, microtransactions were costly and complex, but now, led by AI, businesses are opening up new, profitable models.
“Microtransactions are now more efficient and scalable,” says Atkinson. “With the help of AI, companies can go deeper into their data, providing hyper-personalised services based on real-time insights – which was difficult before.” But despite AI’s transformative potential, some companies are still hesitant to get involved. Rather than wait for the right time, experts like PwC’s India chief digital officer Manpreet Singh Ahuja encourage businesses to start integrating AI now. By doing so, companies can increase productivity, improve data-driven decision-making, and open new avenues for growth.
“When companies see the results of AI-driven productivity, excitement builds,” explains Ahuja. “The next area is to use generative AI to directly interact with data, leading to better decision-making insights in real-time.”
For large enterprises, especially in India, AI and generative AI are already moving beyond enhancing productivity – they are gaining strategic advantages by understanding consumer behavior and tailoring solutions to specific needs. No industry will remain untouched by the impact of AI.
Ahuja emphasizes that “strategic advantages are the key to creating new revenue sources, innovative business models, and long-term growth,” and these advancements require a strong foundation of AI-ready data.
PwC itself is a pioneer in this regard. The company, with over 300,000 employees, has implemented AI across its entire workforce, empowering teams to rethink delivery models and adapt to an AI-first world. At PwC, AI champions guide employees through “prompting parties” – events designed to get teams to work, learn, and experiment with AI tools.
This approach not only promotes technology adoption, but also helps employees feel more confident about AI, removes fear of job loss, and shows how it can boost productivity. “When employees see real, measurable benefits in their everyday work, it becomes easier for them to embrace the potential of AI,” says Ahuja.
The future belongs to AI, and India stands at the crossroads of a $15 trillion opportunity. Ready to join in?
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With 5.5 years of experience in financial journalism, I am a content writer who specializes in international markets. My aim is always to deliver unbiased and factual reporting.