Deloitte India announced the launch of its Generative AI practice, to equip and empower its clients with strategic innovations, talent and a collaborative alliance ecosystem, enabling them to navigate the dynamic and converging digital landscape.
In a recent study conducted by Deloitte on the ‘State of AI in India’, it was revealed that an impressive 88% of respondents are planning to increase their AI investments year-on-year. Furthermore, nearly half of the participants reported achieving quicker-than-expected returns on their AI investments in the current year.
Romal Shetty, Chief Executive Officer, Deloitte South Asia, was excited to launch the Generative AI practice and highlighted “its potential to revolutionize products, business models, and work processes. It is a technology with unprecedented opportunities as a result of its contextual awareness and human-like decision-making capabilities.
As technology takes centre stage in India’s growth narrative, it becomes imperative for Indian businesses to embrace tech capability-building measures and adopt prudent data policies in line with the government’s vision. Our study suggests businesses have set their mind on this, as early implementation of such solutions has transformed customer experiences.
Deloitte’s Generative AI practice will serve as a catalyst for this transformation, facilitating the development and implementation of innovative AI-driven solutions by leveraging global alliances. Additionally, the practice will guide clients in understanding the risks, limitations, and ethical considerations associated with Generative AI during the development, deployment, and commercialization of AI applications.”
Bridging the talent gap
A crucial aspect of Deloitte’s Generative AI practice is its focus on enabling and upskilling talent. At its core, the practice includes a Generative AI Market Incubator staffed by a dedicated team of AI engineers who specialize in the rapid development of Generative AI pilot programs and proofs of concept.
Deloitte India is working in close collaboration with its alliance partners to train its workforce and enhance their expertise in Foundation Models. It is also leveraging its global teams and the Deloitte AI Academy to bridge the talent gap in AI and train professionals in a wide range of AI skills, including model development and prompt engineering.
Sathish Gopalaiah, President – Consulting at Deloitte South Asia, emphasised that “the transformative power of Generative AI, has elevated customer expectations by offering previously unimaginable experiences. With Deloitte’s extensive industry experience, domain knowledge, AI and other technology capabilities, we are uniquely positioned to assist businesses in India to transition from tactical revenue generation and cost optimisation approaches to targeted, tech-enabled, long-term growth strategies. For customers embarking on business transformation journeys, we offer customized strategies tailored to specific use cases across industries, such as financial services, and consumer retail.”
Implementing AI solutions in India
The Generative AI practice has already begun exploring a range of use cases in India. These include leveraging chatbots to enhance employer productivity and customer satisfaction, developing image generation tools, employing prompt-based visualization tools to improve data-based decision-making processes, and generating catalogue-based products to enhance customer experiences.
Deloitte is collaborating with leading clients in India, such as product catalogue-based businesses and jewellery makers, to integrate Generative AI into their operations and drive user engagement. Deloitte’s practitioners can collaborate with interdisciplinary teams to ensure seamless AI implementation and effectively communicate complex AI concepts to stakeholders from diverse backgrounds.
Ethical AI
Ethical considerations are at the forefront of Deloitte’s Generative AI practice. The team will work in tandem with the Deloitte AI Institute, which fosters responsible growth and development of AI through informed discussions and market insights.
As Generative AI continues to evolve, Deloitte remains committed to its safe and responsible use. Guided by its Trustworthy AI™ framework, it will help clients develop necessary safeguards and balance competing ethical priorities during product development and operation.