Artificial intelligence (AI) has evolved from a fleeting trend to an essential component across industries, increasing efficiency and boosting revenue generation. However, concerns remain about the impact on employment, as well as issues relating to intellectual property, privacy and liability.
As AI becomes more prevalent, companies are looking to create business value by engaging customers and employees, increasing operational efficiency and unlocking new revenue streams, noted Wipro CIO Anup Purohit. Conventional sectors like banking and healthcare are now integrating AI to improve efficiency and customer engagement.
The global AI market, worth about $235 billion, is expected to more than double by 2028, according to Tech Mahindra COO Atul Soneja. At the same time, the combination of AI and cloud computing enables rapid innovation and enables companies to quickly adapt to market changes in the face of growing demand for skilled professionals.
(With contributions from agencies.)