As per the recent report, a majority of the population in India anticipates increased investments and budget allocations for Gen AI in the next two to three years, and India is leading the global adoption of GenAI technologies. Search examination firm Elastic delivered the Generative AI Report that accumulated bits of knowledge from 3,200 IT decision-makers and influencers across areas in the US, Europe, and Asia-Pacific. One thousand two hundred people, including 300 from India, were surveyed in the Asia-Pacific and Japan.

 

The report states that 81% of Indian businesses have already implemented GenAI, making India the leading nation in adopting generative AI technologies.

 

The study also forecasted significant investment trends for the near future, with 94% of respondents expecting increased investments and budget allocations for generative AI initiatives within the next two to three years.

 

"As many as 99 per cent of respondents expressed concerns about processing and using their data, highlighting the need for organisations to work with GenAI providers who can help safeguard sensitive information. The report further observed that 73 per cent of respondents in India were confident that conversational data search capabilities would significantly enhance operational efficiency.

 

"The disruptive potential of GenAI has captured the imaginations and budgets of India's IT and data leaders, as seen by India's lead in GenAI adoption," said Karthik Rajaram, area vice president and general manager, India, Elastic.

 

"However, while the commitment of many organisations to quickly harness the transformative opportunity of GenAI to drive innovation and efficiency is exciting, it's businesses that adopt search-powered GenAI grounded by business context that will lead and uncover the insights needed to securely innovate, build more efficient businesses, and pioneer new customer experiences."