Leading figures in the Indian tech sector stated on Saturday that as AI applications grow and demand more resources and experience, the upcoming year offers purpose-driven organizations an exciting chance to better serve their communities.

Businesses will change how they evaluate productivity and performance in the upcoming year to concentrate on results rather than inputs, such as newly introduced goods or leads generated.

Arundhati Bhattacharya, Chairperson and CEO of Salesforce India, stated, “Business leaders have a responsibility to ensure that their teams are equipped with the right resources and support to take advantage of the unprecedented opportunities that AI offers.”

“AI will be felt in these dynamic business models through increased productivity. AI will, in short, have an impact on all facets of the tech sector and the markets they service, the speaker continued.

A recent Nasscom study estimates that automation and artificial intelligence might boost India’s GDP by $500 billion by 2025.

The development of “semantic query,” which is essentially a question written in a “human” language and then translated into machine language, will revolutionize customer service, according to Bhattacharya. “On the generative AI front, we expect it to hypercharge efficiency,” he added.

Using text, images, videos, and audio for search, businesses can leverage AI to deliver hyper-personalized, timely, and meaningful services. Industry leaders predict that semantic inquiry will become a fundamental component of AI by 2024.

According to a recent report by Nasscom in association with McKinsey & Company, the economic value of generative artificial intelligence (GenAI) is expected to range from $2.6 to $4.4 trillion annually, with approximately 75% of this value expected to be concentrated in software engineering, customer operations, product and R&D, sales, and marketing—core service lines for many technology service providers in India.

“We sit in a unique position to help businesses innovate with generative AI with our advanced models and continue to help businesses solve complex problems and transform in this new AI era,” stated Bikram Singh Bedi, Managing Director of Google Cloud, India.

“2023 has been a remarkable year for Google Cloud, especially for our Indian business.” Bedi told IANS, “We have witnessed the potential of how technology can shape the future of Indian organizations, the public sector, and beyond. From forging deep collaborations with CERT-In, Bhashini, and ONDC to launching Gemini Pro.”

The CEO and MD of Kiya.ai, Rajesh Mirjankar, claims that generative AI is revolutionizing finance by producing content that is human-like and engaging for a large audience. “This technology will be integrated by financial institutions, who will use advanced finance advisors to revolutionize services like robo-advisory and creditworthiness assessment,” he stated.