Firms embrace emerging tech to slash costs

With increasing customer expectations, organisations have to adopt new technologies to improve their business efficiency.
Firms embrace emerging tech to slash costs

BENGALURU : Organisations are now focusing on reducing costs by leveraging emerging technologies to improve operations, productivity and to streamline processes. With increasing customer expectations, organisations have to adopt new technologies to improve their business efficiency. Firms are making use of cloud-based solutions, technologies such as artificial intelligence, big data, Internet of Things, machine learning so that these technologies can provide them competitive advantage and also save costs. 

Phani Tangirala, head of solutions and delivery (digital and technology services) at Expleo, says emerging technologies are enabling businesses to transcend traditional boundaries - geographical, market-based, or conceptual -- with a significant level of personalisation and sustainability that today's customers expect. 

"Cloud computing, for instance, helps startups think, dream, and grow big in ways previously unimaginable. IoT provides real-time global data, driving smarter decision-making. AI is augmenting human intellect, enhancing creativity and strategic thinking. GenAI has transformed content creation making it more engaging and personalised," he says. 

With emerging technologies, we're not just cutting costs but shaping businesses to be resilient, responsive, and ready for tomorrow's challenges, Tangirala adds.

 Teaching AI

 Tech giants are also exploring generative AI to cut costs. Recent data suggests that 35% of global companies are using AI in their business. Recently, OpenAI introduced Sora, its text-to-video model. OpenAI is teaching AI to understand the physical world in motion and the idea behind this is to train models that can help solve problems. OpenAI says Sora can generate videos up to a minute long while maintaining visual quality and adherence to the user’s prompt. This automation process can significantly reduce costs. 

According to a new research by IBM, 59% of enterprise-scale organisations surveyed in India have AI actively in use in their businesses. Trust in AI is key as 94% said that being able to explain how their AI reached a decision is important to their business and top factors driving adoption in India are accessibility of AI tools, need to reduce costs and automate, and increase in AI embedded into off the shelf business applications. 

As much as 48% of those surveyed said the need to reduce costs and automate key processes are the factors driving AI adoption. 

“The increase in AI adoption and investments by Indian enterprises is a good indicator that they are already experiencing the benefits from AI. However, there is still a significant opportunity to accelerate as many businesses are hesitant to move beyond experimentation and deploy AI at scale,” said Sandip Patel, managing director, IBM India & South Asia.

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