A modern report on Thursday said that as generative artificial intelligence (GenAI) becomes a top priority for enterprises, over 80 percent of Indian enterprises plan to invest in GenAI in the next 1-2 years.
According to reports by Bain & Company and Meta, most huge companies plan to invest in providing end-to-end journeys through GenAI-powered conversational platforms.
About 70 percent of huge enterprises are already engaging with more than 50 percent of their customer base using conversational platforms, especially for marketing and promotion-oriented operate cases, and subsequently updating customer service and transactions.
Over 60 percent plans to enhance spending on conversation platforms over the next 3-4 years.
“We see growing user preference to operate conversational platforms for everyday tasks, along with increased spending and investment by companies in GenAI to improve end-to-end journeys on these platforms,” said Arpan Sheth, partner at Bain & Company.
The report was based on a survey conducted among both consumers and enterprises. It provided insight into the conversational journeys of organizations, compact businesses and digital users.
According to the report, the impact of conversation platforms will not be narrow only to huge companies.
About 90 percent of inexperienced digital technology users choose to interact with compact and medium-sized businesses through conversational platforms for their daily needs.
“The coming decade offers a unique opportunity for technology, especially generative AI, to revolutionize the way businesses of all sizes operate,” said Sandhya Devanathan, director and vice president of Meta in India.
Additionally, the report mentioned that 70 percent of users prefer to connect with local grocery stores to send a list of items and place an order.
