ROUNDTABLE – GEN AI – ANALYSIS: Impact Of Generative AI In Tech Services Industry

31 July 2023

Generative Artificial Intelligence (GenAI) refers to algorithms that can generate new content. While OpenAI’s ChatGPT is perhaps the most recognized example, many companies are developing GenAI in various contexts, such as voice, video, images, and code.

GenAI opens up new possibilities for rethinking the way we work. However, deep industry knowledge and proactive risk management are essential to harness its potential. Like Analytical AI, GenAI requires a robust data foundation, including flexible data infrastructure, cloud access, and proficiency in ML Ops. The successful implementation of GenAI will also necessitate new talent acquisition and effective change management.

We’re on the cusp of a significant shift in the business landscape ushered in by GenAI. Just as the Computing era (starting in 1977) was succeeded by the Internet era (from 1995) and the Mobile era (from 2006), we believe 2023 will kickstart the AI “everywhere” era. This new era will be marked by the ability to generate near-human-level content at virtually no additional cost. It’s predicted that GenAI will be a major catalyst for future labor productivity growth in developed economies. GenAI can significantly speed up about 50% of tasks without compromising quality.

Stay tuned for our next issue, where we’ll dive deeper into our recent roundtable discussion. We’ll be unpacking thoughts on the transformative impact of Generative AI on the tech services industry and exploring what this means for the future. Plus, we’ll bring you the latest industry news, backed by data, to keep you at the forefront of the tech landscape. It’s an issue packed with insights you’ll want to take advantage of!

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