According to a report by Bain & Company and Meta, over 80 per cent Indian enterprises are planning to invest in generative artificial intelligence (GenAI) within the next one or two years. Most large companies are planning to invest in delivering end-to-end journeys via GenAI-powered conversational platforms.
The report stated that about 70 per cent large enterprises are already engaging with more than 50 per cent customer base using conversational platforms, especially in marketing and promotion-centric use cases, followed by customer service and transaction updates. Over 60 per cent are planning to boost spending on conversational platforms over the next three or four years.
As per the report, the impact of conversational platforms will not be limited only to large companies. The report further stated that about 90 per cent non-savvy digital users choose to interact with SMBs via conversational platforms for day-to-day needs. Moreover, 70 per cent users prefer to connect with local grocery stores to send a list of items and place an order.
Commenting on the report, Arpan Sheth, partner, Bain & Company, said, “We are seeing a growing user preference for leveraging conversational platforms for daily tasks, along with increased spending and investment by businesses in GenAI to enhance end-to-end journeys on these platforms.”
Meanwhile, Sandhya Devanathan, head, and vice president (VP), Meta, India, said, “The coming decade presents a unique opportunity for technology, particularly GenAI, to revolutionise how businesses of all sizes operate.”
