Generative AI practice-the New AI technology has permeated our lives incrementally. Generative AI revolutionizes various aspects of lives, how we live & work. Using this technology, we can create data that looks and feels like real data. AI has broadly been used to automate tasks, uncover patterns and correlations, and make accurate predictions based on current and historical data.
This technology has offered unprecedented opportunities to businesses. Businesses, research organizations, and even lay users are experimenting with Generative AI as it has become one of the advanced transformative solutions for businesses and communities by equipping organizations to effectively navigate the dynamic and converging digital landscape.
Some of the case examples of Generative AI include chatbots that boost employer productivity and enhance customer satisfaction, creating image generation tools, implementing prompt-based visualization tools to get data-driven decision-making processes, and generating catalog-based products to elevate customer experiences.
What is Generative AI?
Generative AI is a type of AI that is capable of producing different kinds of content such as text, imagery, audio, synthetic data etc. The recent buzz around generative AI has been driven by the simplicity of new user interfaces for creating high-quality text, graphics and videos in a blink of an eye.
New AI technologies like ChatGPT, DALLE, and Lensa have recently gained significant prominence as they empower users to get content in seconds.
Need for Generative AI in Enterprises
Nowadays, there is a growing need for Generative AI that can be used for businesses. As with all cognitive tools, the outcomes depend on how they are used, and that includes managing the risks, which for Generative AI have not been as deeply explored. In a detailed study conducted by Deloitte, 88% of respondents planned to increase their AI investments year-on-year. Deloitte India stands at the forefront of innovation, leveraging Generative Artificial Intelligence (AI) as a powerful tool to drive positive change and fuel business growth.
An Overview of Deloitte India’s Generative AI
Deloitte India has launched Generative AI Practices for Businesses and Communities. Through the advent of this practice, clients will get the leverage with strategic innovations, empower with talent and foster a collaborative alliance ecosystem. These efforts enable our clients to navigate the ever-changing and interconnected digital landscape effectively.
The Deloitte AI Institute helps organizations connect dimensions of a robust, highly dynamic and rapidly evolving AI ecosystem. Deloitte aims to forge strategic alliances with prominent industries in India, such as catalog-based businesses and jewellery makers, with a key focus on integrating Generative AI applications into their operations to enhance user engagement. This collaboration will involve leveraging the power of Generative AI to drive innovation, optimize processes, and create more compelling user experiences, thereby strengthening the overall effectiveness and success of these industries.
One of the primary aspects of this practice is to upskill talent. Deloitte has a dedicated team of AI engineers specialized in offering rapid development of Generative AI pilot programs and proofs of concept.Experts and practitioners will collaborate with interdisciplinary teams to ensure the smooth implementation of AI initiatives and effectively communicate complex AI concepts to stakeholders.
Romal Shetty, Chief Executive Officer, Deloitte South Asia, says the launch of Generative AI practice will “serve as a catalyst for this transformation” and emphasizes “its potential to revolutionize products, business models, and work processes. It is a technology with unprecedented opportunities that result in contextual awareness and human-like decision-making capabilities.”
Deloitte AI Academy aims to make professionals compliant with the latest Generative AI Practices and foster their skills including model development and prompt engineering.
We have ventured into the impact and significance of Deloitte India’s Generative AI practice, highlighting how it empowers businesses and communities alike. By leveraging Generative AI, Deloitte India empowers businesses to unlock new opportunities, enhance operational efficiencies, and drive growth in an increasingly dynamic and competitive environment.