Artificial Intelligence: A $15 Trillion Opportunity for India

Artificial intelligence (AI) is poised to revolutionize industries worldwide, and India stands to gain a staggering $15 trillion from this technological transformation. According to Joe Atkinson, Chief AI Officer at PwC, AI is unlocking unprecedented opportunities in supply chains, vendor management, and market solutions. By enabling microtransactions and hyper-personalized services, AI is reshaping how businesses operate and interact with customers.

Unlocking New Business Models with AI

Atkinson highlights that AI allows companies to process vast amounts of data across diverse customer bases, making microtransactions more feasible and attractive. "Before AI, building the infrastructure for microtransactions was often too costly and impractical," he explains. "Now, AI is enabling entirely new business models."

By leveraging data from microtransactions, businesses can offer personalized services at scale. Recommendation engines powered by AI and generative AI create hyper-personalized user environments, enhancing customer experiences and driving growth.

Overcoming Hesitations and Embracing AI

Despite AI's transformative potential, some companies remain hesitant to adopt the technology. Manpreet Singh Ahuja, Chief Digital Officer for India at PwC, emphasizes that businesses should start small by focusing on productivity improvements. "Once companies see measurable success, they become more excited about the possibilities," he says. "Generative AI empowers businesses to interact directly with their data, unlocking real-time insights and enabling data-driven decision-making."

The End-to-End AI Revolution

Large enterprises in India have moved beyond using AI solely for productivity gains. They are now leveraging AI to uncover deep insights into consumer behavior and identify new growth opportunities. While the impact of AI varies across industries and geographies, no sector will remain untouched by its influence.

Ahuja stresses the importance of foundational investments in making data AI-ready. "Strategic gains emerge when businesses use AI to create innovative business models and unlock new revenue streams," he explains. "But none of this is possible without preparing data for AI applications."

PwC's AI-First Approach

To inspire confidence in AI adoption, PwC has implemented AI and generative AI tools across its 300,000-strong workforce. The firm has also established AI-first teams to rethink delivery models that may become obsolete in the future. Atkinson shares that PwC hosts "prompting parties," where employees experiment with AI tools under the guidance of AI champions. These sessions not only drive tech adoption but also foster professional growth.

Ahuja adds that employees initially concerned about AI replacing their jobs have grown more comfortable with the technology after witnessing its productivity benefits. "AI is not about replacing people; it's about empowering them to achieve more," he says.