75% of Indian Companies to Go Digital with Cloud by 2026, Boosted by Generative AI
Indian companies are rapidly adopting Generative AI and the Cloud as part of their digital transformation strategies. According to Gartner, it is predicted that by 2026, 75% of organizations in India will have embraced a digital transformation model with the cloud at its core.
The use of cloud technology has seen a significant surge in recent times, especially during the COVID-19 pandemic. McKinsey reports that more companies in India are accelerating the adoption of cloud technology for its numerous benefits. In fact, 90% of companies surveyed believe that leveraging cloud technology is crucial for their growth and competitiveness.
Generative AI and the cloud are not just complementary technologies, but they also act as catalysts for each other’s success. When integrated, they enhance fraud detection, data protection, and emergency response capabilities, especially in industries such as banking. The cloud provides convenient tools that enable companies to leverage Generative AI effectively in their operations.
One example is the ‘OmniAI’ platform, developed by a multinational financial services firm and powered by the cloud. Since its launch in 2019, this platform has relied heavily on cloud flexibility to deploy AI at scale while ensuring top-notch security for sensitive data.
The relationship between Generative AI and the cloud is mutually beneficial. Generative AI enhances the cloud’s performance, reduces costs, and automates security measures.
Notable collaborations in India include the partnership between the country’s largest private sector bank and Microsoft Azure. This collaboration aims to leverage advanced AI capabilities to gain insights from customer data and deliver a modern banking experience. Generative AI plays a crucial role in predicting customers’ evolving needs, thereby optimizing the use of cloud technologies to enhance operational efficiency and cost-effectiveness.
As more Indian companies recognize the potential of Generative AI and the cloud, it becomes clear that this collaboration is not merely a trend but a strategic move. Startups and fintech companies are at the forefront of this digital transformation, understand the importance of cloud technologies in driving growth and maintaining competitiveness.
In conclusion, the adoption of Generative AI and the cloud by Indian companies is on the rise. The synergy between these technologies enables organizations to enhance their capabilities in fraud detection, data protection, and emergency response. With the predicted 75% of Indian organizations embracing digital transformation with the cloud at its core by 2026, it is evident that this partnership is set to fuel innovation and drive competitiveness in the Indian business landscape.
