Around 42 per cent of chief executives in the technology, media, and telecommunications (TMT) sector regard generative AI (GenAI) among their top three priorities, indicates a survey by PwC India.
The survey, titled ‘GenAI in Technology, Media, and Telecommunications (TMT): From Concept to Reality’, examines the applications of GenAI and its effects on TMT companies in India. It also highlights the levels of GenAI adoption, various use cases, strategies for implementation, operational impacts, and potential challenges that may arise.
Around 58 per cent of organisations in the TMT sector regard generative AI (GenAI) as a long-term disruptor, highlighting its transformative potential, the survey shows.
In India, there is a notable disparity in perceptions of disruption among sectors, with technology leaders expecting more significant changes compared to their counterparts in telecom and media. According to the survey, 68 per cent of technology respondents view GenAI as a long-term disruptor, followed by 51 per cent in media and entertainment, and 40 per cent in telecommunications.
Manpreet Singh Ahuja, TMT sector leader and chief digital officer at PwC India, said that GenAI is rapidly transforming the TMT landscape, with each sector discovering unique applications for the technology.
“In the technology sector, GenAI is driving product development and system integration, with 80 per cent of companies already leveraging AI solutions. Media and entertainment firms are focusing on content generation and are using GenAI to create audio, video and text, with significant implementations expected within a year, while telecom companies are utilising GenAI for real-time operational support, including automated fault detection and AI-powered digital assistance. These use cases are transforming business models, enhancing customer experiences and unlocking new efficiencies across the sector,” Ahuja said.
The survey shows that 65 per cent of TMT participants have implemented at least one GenAI application, with nearly half establishing a strategic roadmap for its deployment. Among these organisations, the technology segment demonstrates the highest adoption, with around 80 per cent having implemented their initial GenAI solution.
In terms of return on investment (ROI), 40 per cent of TMT C-suite executives, particularly in technology and telecom, report realising benefits from their GenAI initiatives, while 32 per cent in technology anticipate achieving their expected ROI within the next year. However, 30 per cent of telecom respondents remain uncertain about when they will see similar returns, the survey states.
Ahuja added, “The adoption of GenAI can lead to a major transformation in the telecommunications sector. By incorporating GenAI, companies will be able to improve operations and customer satisfaction. This technology is also crucial for reshaping operational structures and achieving greater efficiencies, establishing new benchmarks in customer engagement, and achieving operational flexibility within the sector.”
First Published: Sep 25 2024 | 2:35 PM IST
