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The 2024 Work Trend Index Annual Report from Microsoft and LinkedIn states that 2024 is the year AI at work gets real. Use of generative AI has nearly
doubled in the last six months, with 75% of global knowledge workers using it. And employees, struggling under the pace and volume of work, are bringing their own AI to work. While leaders agree AI is a business imperative, many believe their organization lacks a plan and vision to go from individual
impact to applying AI to drive the bottom line. The pressure to show immediate

ROI is making leaders inert, even in the face of AI inevitability. Just as with the advent of the internet or the PC, business transformation comes with broad adoption. Organizations that apply AI to drive growth, manage costs, and deliver greater value to customers will pull ahead.

At the same time, the labor market is set to shift again—with AI playing a major role. Despite fears of job loss, leaders report a talent shortage for key roles. And as more employees eye a career move, managers say AI aptitude could rival experience. For many employees, AI will raise the bar but break the career ceiling.

To help leaders and organizations overcome AI inertia, Microsoft and LinkedIn looked at how AI will reshape work and the labor market broadly, surveying 31,000 people across 31 countries.

Findings:
75 percent of knowledge workers use AI at work. Employees want AI at work—and they won’t wait for companies to catch up.

46 percent of users started using it less than six months ago. Users say AI helps them save time (90 percent), focus on their most important work (85 percent), be more creative (84 percent), and enjoy their work more (83 percent).

The heaviest Teams users (the top 5 percent) summarized 8 hours of meetings using Copilot in the month of March, the equivalent of an entire workday.

While most leaders agree AI is a necessity, the pressure to show immediate ROI is making leaders move slowly.

79 percent of leaders agree their company needs to adopt AI to stay competitive, but 59% worry about quantifying the productivity gains of AI.

This uncertainty is stalling vision: 60 percent of leaders worry their organization’s leadership lacks a plan and vision to implement AI.

Without guidance or clearance from the top, employees are taking things into their own hands and keeping AI use
under wraps:

78 percent of AI users are bringing their own AI tools to work (BYOAI)—it’s even more common at small and medium-sized companies (80 percent).
And it’s not just Gen Z—BYOAI cuts across all generations.

52 percent of people who use AI at work are reluctant to admit to using it for their most important tasks.

53 percent of people who use AI at work worry that using it on important work tasks makes them look replaceable. This approach means missing out on the
benefits that come from strategic AI use at scale. It also puts company data at risk in an environment where leaders’ #1 concern for the year ahead is cybersecurity and data privacy. 

BYOAI Is Not Just for Gen Z. Employees across every age group are bringing their own AI tools to work. 78% millennials, 76% GenX and 73% boomers use BYOAI.

Another driver of BYOAI: work has accelerated faster than employees’ ability to keep up. 68% of people say they struggle with the pace and volume of work, and 46% feel burned out.

Email overload persists—85% of emails are read in under 15 seconds, and the typical person has to read about 4 emails for every 1 they send. Meetings and after-hours work are holding steady at their post-pandemic highs, and the workday still skews toward communication: in the Microsoft 365 apps, users spend 60% of their time on emails, chats, and meetings, and only 40% in creation apps like Word and PowerPoint.

As AI use surges ahead, leaders who are “extremely familiar” with AI see its potential to be as transformational as the shift from a typewriter to a computer. Within the next five years, 41% of these leaders expect to redesign business processes from the ground up with AI. In the same time frame, they anticipate orchestrating (38%) and training a team of AI bots (42%), and ensuring the ethical use of AI (47%) will be a core part of their job.

The data is clear: People are overwhelmed with digital debt and under duress at work— and they are turning to AI for relief. The opportunity for every leader is to channel this momentum into ROI.

75 percent people use AI at work: Report

As per an industry report, the Indian sports tech market is expected to grow from USD 1.2 billion in 2022 to USD 3.5 billion in 2027. 
In the past, the sports industry's hesitance towards technology likely stemmed from a more conservative, risk-averse culture and reliance on traditional methods. With the integration of technology and AI, the sports tech industry is experiencing a seismic shift. From performance analytics to fan engagement, technology is set to revolutionize every facet of the sports ecosystem. Creation of cutting edge technology requires high investment and the money flow has always been first towards deep markets first. 


Sports industry has had its evolution. It is now that we are seeing the sports market being deep enough to support the additional investment towards technology investment. We see some world class technology at play in top pro sports competitions - IPL, ATP, Premier League (football) and across broadcast sports in the US. In most tournaments just a level below these the adoption of world class technology is lesser.

"But as we trickle down to grassroots sports, especially in India, there’s little capacity for grassroots academies to spend such amounts of money towards technology. Things however are getting better. Gradually, with awareness towards sports, the income and hence the capital available for these academies to make investments in technology is growing. There’s hope and progress, says Sudeep Kulkarni, Founder and CEO Game Theory.

"Whenever technology becomes cheaper, it gets democratized - resulting in it being available to amateur and recreational sports. We will see the future sports companies using this to build products for the recreational sports player and the current ones to stretch the boundaries of what is possible - imagine if every decision is accurate in live sports in real time: no VAR delays, no bad line calls, can an AI coach tell me what I should do to win against my opponent tomorrow, can all pickups be auto scheduled like online video games, can people be more engaged unique insights about their game and get them to compete more?, asks Kulkarni.

According to Megha Gambhir, CEO and Co-Founder, Stupa Sports Analytics, "It is essential to recognize the transformative impact data & analytics can have on amateur and grassroots sports. While much attention is often given to professional leagues and elite athletes, the potential for analytics to revolutionize the grassroots level should not be overlooked. Advancements in VR technology offer immersive training experiences and personalized coaching, making sports training more accessible and engaging for amateur players."

Role of venture capitalists and tech startups

"The current sports technology industry is geared towards broadcast of pro sports and data for pro athletes. Most of these happen via data annotation and sensor based input. The underlying technology is moving towards automation with computer vision and AI. "The shift has already begun in certain critical sports elements such as DRS for cricket and Goal-Line tech for Football. Moore’s law will eventually work here and the vision + AI technology will
become better and cheaper. That’s when we will see this being applied to all sports analytics and broadcasting, says Kulkarni.

As the products get better, business can build a path to successful large profitable businesses. This is bound to attract institutional investors. We currently see a large number of companies vying for venture capital and the institutions are now getting aware of the promise of the untapped potential of sports. In the near future, there will be a large pool of capital to sports companies, because sports is one of those sectors which hasn’t had its modernization which lends itself really well to “category creating” companies. And venture capitalists have historically capitalized heavily from category creators.

Venture capitalists are attracted to sports tech startups for their potential to disrupt a lucrative industry. They recognize the value of scalable solutions that address unmet needs and drive efficiency. Sports and fitness tech startups with innovative products and a clear market fit are able to attract investment by demonstrating their ability to solve real problems and capture market share. Additionally, the growing convergence of sports, fitness, wellness, and gaming presents vast opportunities for startups to create integrated solutions that resonate with large consumer bases, and drive revenue growth, says Mustafa Ghouse, Founder and General Partner of Centre Court Capital, a gaming and Sports tech VC fund. 


According to Ghouse, venture capitalists see these startups as the future of sports, and they help these companies by fostering an ecosystem where they can flourish and reach their full potential. They evaluate sports tech startups by assessing the market size and growth potential. Sizeable, expanding segments within the sports industry are the key areas they focus on, while their technology itself is assessed for its innovativeness, scalability, and ability to solve a specific problem or enhance a current process. The founding team's expertise in sports and technology, along with the startup's go-to-market strategy, sustainable revenue model, and potential for a clear path to profitability, are all key factors behind securing a VC investment, which helps in their long-term growth and success.

Trends in the sports tech startup landscape

"As the amount of data collected over time only increases, AI systems will keep becoming more intelligent and accurate with their predictions. Hence teams and coaches can create more successful strategies by analyzing opponent data. Moreover, teams can also implement tactical adjustments in real-time depending on the playing patterns of the opponent during the match. This makes a compelling case for players to keep reinventing themselves so that their patterns become more difficult to predict. This will only make sports more exciting with time to come," says Gambhir

With major players in the tech industry such as Amazon and Apple securing rights to the NBA and MLS respectively, the sports technology industry will aim to bring audiences closer to the game than ever before.

Additionally, the advent of technology like the Apple Vision Pro looks to bring revolutionary spatial computing to seamlessly blend digital content with the physical world. Cutting-edge apps like PGA Tour Vision and initiatives like Apple TV's immersive 3D video recap of the 2023 MLS Playoffs are revolutionizing fan engagement by offering unparalleled proximity to the action. With PGA Tour Vision, golf enthusiasts can transform their surroundings into an immersive golf experience, while Apple TV's venture introduces viewers to a 180-degree 3D video with Spatial Audio, providing an unprecedented level of immersion. These innovations are redefining the boundaries between fans and the sports they love, bringing them closer to the excitement than ever before.

Wearable technology and data analytics are emerging as another key area poised to reshape the sports industry. These sophisticated tools offer a multitude of benefits for athletes. Real-time performance insights gleaned from smartwatches, GPS trackers, and biosensors (capturing data on heart rate, muscle activity, sleep, and hydration) empower coaches and athletes to tailor training regimens for peak performance and minimize overtraining. 

Additionally, wearables can detect subtle movement shifts, acting as early warning signs for potential injuries, allowing for preventative measures.
For fans, data analytics personalizes the viewing experience. Broadcasters can leverage augmented reality (AR) overlays to showcase customized player statistics or offer varied camera angles based on individual preferences.

How can AI shape the sports tech industry?

The Software-as-a-service (SaaS) industry is rapidly booming and India today is a global player in the Software-as-a-Service (SaaS) ecosystem, coming second to the US in scale and maturity. Today the total annual recurring revenue (ARR) of Indian SaaS firms has grown four times to $12–$13 billion in 2022, while investments into this sector have risen six times to $5 billion over the past five years, as per a report by global management consulting firm Bain and Company.

And in the heart of this growth lies a powerful driver: Artificial Intelligence (AI). AI is no longer a futuristic concept; it's actively reshaping the way SaaS applications operate, thus transforming user experiences and propelling the industry forward.

Over the past few years, we have seen how AI has been used in various ways for sales growth, lead generation, personalization of marketing campaigns etc. But there is so much more which is untapped and has massive potential to revolutionize the industry. Let’s delve into various ways in which AI is re-shaping the landscape of the SaaS industry and explore the profound implications it holds for businesses and consumers alike.

1. Enhanced-Personalization: AI algorithms can analyze vast amounts of user data, enabling SaaS platforms to deliver personalized experiences. This brings in engine recommendations and hyper-personalization. AI will suggest relevant features, content, and upgrades based on individual user preferences and past behaviour. There is Adaptive User Interface, where interfaces adjust dynamically based on user actions, creating a seamless and intuitive experience. This is a game-changer!

Also, AI can optimize pricing models based on user segments and usage patterns, offering fair and customized pricing.


2. Enhanced Customer Support: AI chatbots, powered by Natural Language Processing (NLP) are changing the customer service game. Today we have chatbots that provide instant support, addressing basic queries and resolving simple issues round the clock. With further integration of AI, there will be faster resolution of complex issues by routing them to the right human agents. This saves a lot of time for the consumer, which is important.

Sentiment Analysis also plays and vital role in the entire ongoing evolution. AI can gauge customer sentiment through interactions, enabling proactive support and addressing potential dissatisfaction.


3. Predictive Analytics and Automation: AI empowers SaaS applications to analyze data and predict future trends, leading to Proactive Maintenance, Resource Optimization and Automated Workflows. AI can identify potential issues and suggest preventive measures before they disrupt user experience. AI will also help in optimizing resource allocation based on predicted demand, ensuring smooth operation and cost efficiency. Repetitive tasks can be automated, freeing up human resources for more strategic activities. Automated workflow will get much more smoother with the right integration of AI.

4. Enhanced Security and Compliance: AI algorithms can analyze vast amounts of data to detect and prevent security threats. Be it in fraud detection or data breach prevention, AI can identify suspicious patterns in user behaviour and transactions to prevent fraudulent activities and analyze network traffic and user activity to detect and mitigate potential data breaches. AI can also automate compliance processes, ensuring adherence to regulations and data privacy standards.

The integration of AI into SaaS solutions is still evolving and in an evolutionary phase. This allows us to foresee all sorts of exciting possibilities on the horizon. We can look forward to AI-powered Content Creation, as AI can generate personalized marketing content, reports, and even code, streamlining content creation processes.

Advanced Virtual Assistants and Hyper-targeted Marketing will boom in the coming years. AI assistants will become increasingly sophisticated, offering human-like interactions, and handling complex tasks and AI will enable highly targeted marketing campaigns based on granular user data, maximizing campaign effectiveness.

As the SaaS industry continues to evolve and expand, the integration of AI technologies will continue to play an increasingly pivotal role in driving innovation, efficiency, and competitiveness. From personalized user experiences to predictive analytics and enhanced security measures, AI is reshaping every facet of the SaaS landscape, offering unprecedented opportunities for businesses to thrive in the digital age. By embracing AI-driven solutions and harnessing the power of data, SaaS providers can unlock new levels of growth, agility, and success in an ever-evolving marketplace.

The author is Saket Dandotia, Founder and CEO, Onetab, a generative AI SaaS startup. Views expressed are personal.

How AI is revolutionizing the SaaS industry

In a bid to promote safe AI (artificial intelligence) usage, Adobe announced the expansion of the Adobe bug bounty program to reward security researchers for discovering and responsibly disclosing bugs specific to their implementation of Content Credentials and Adobe Firefly. 

“By fostering an open dialogue, we aim to encourage fresh ideas and perspectives while providing transparency and building trust,” said Adobe in a company blog. 


Content Credentials are built on the C2PA open standard and serve as tamper-evident metadata that can be attached to digital content to provide transparency about their creation and editing process. 


Content Credentials are currently integrated across popular Adobe applications such as Adobe Firefly, Photoshop, Lightroom and more. 


“We are crowdsourcing security testing efforts for Content Credentials to reinforce the resilience of Adobe’s implementation against traditional risks and unique considerations that come with the provenance tool, such as the potential for intentional abuse of Content Credentials by incorrectly attaching them to the wrong asset,” the blog added.


The blog also highlights the importance to understand and mitigate the potential risks that can arise from the use of AI and the company’s ongoing commitment to advancing safe, secure, and trustworthy AI that includes transparency about the capabilities and limitations of large language models (LLMs).


“Adobe has long focused on establishing a strong foundation of cybersecurity, built on a culture of collaboration, enabled by talented professionals, strong partnerships, leading edge capabilities, and deep engineering prowess. We prioritize research and collaborating with the broader industry on preventing risks by responsibly developing and deploying AI,” read an excerpt from the blog. 


The company has been long engaging with partners, standards organisations, and security researchers for to enhance the security of their products and the move to expand bug bounty program is another step taken in that direction.
“The skills and expertise of security researchers play a critical role in enhancing security and now can help combat the spread of misinformation,”said Dana Rao, executive vice president, general counsel and chief trust officer at Adobe. 



“We are committed to working with the broader industry to help strengthen our Content Credentials implementation in Adobe Firefly and other flagship products to bring important issues to the forefront and encourage the development of responsible AI solutions,” Rao added.


“Building safe and secure AI products starts by engaging experts who know the most about this technology’s risks. The global ethical hacker community helps organisations not only identify weaknesses in generative AI but also define what those risks are,” said Dane Sherrets, senior solutions Architect at HackerOne. 
HackerOne is a leading hacker-powered protest and bug bounty platform, helping organizations find and fix critical vulnerabilities before they can be exploited. Adobe Bug Bounty Program has been working with HackerOne for some time now. 

Adobe expands partnership with ethical hackers for safe AI

Marketers are early adopters of AI(artificial intelligence) in India. Especially the ones operating in spaces that have access to first party data. Like the D2C (direct-to-consumer) brands or the digital first brands. The next step however is to make AI more efficient and ROI focussed. 

Soumya Mohanty, Managing Director and Chief Client Officer- South Asia, Insights Division, Kantar speaks to Storyboard18 on their latest tool LINK AI and how it is helping marketers that the evaluate the creative effectiveness of their ads. 

Mohanty talks about humanising AI to innovate successfully, how marketers are testing their ads with AI, is it cost effective, does one size fit all when it comes to these tests and more.




Edited excerpts 



AI and its usage in marketing has been evolving at a rapid pace. What are the trends that you are seeing in the space?



So, first and foremost, I believe leveraging AI technologies, particularly in image enhancement and camera applications, needs to be emphasised. This rapidly growing field will be a crucial way for marketers to create engaging experiences. Additionally, I foresee a significant increase in the use of virtual assistants over the next few years. These assistants will help brands reach consumers and ensure their messages and presence are part of the recommended sets within the virtual assistants consumers rely on.



Overall, AI is not just a trend for young people. It cuts across demographics – older age cohorts are using it just as much as younger people. Anyone active on the internet leverages AI features for various efficiency and productivity tasks.


I'd like to add AI-generated video production to the mix. It offers not only increased efficiency but also significant cost savings. Marketers will undoubtedly utilise AI more extensively in content creation, particularly video advertising content, and this trend is only likely to accelerate. Predictive analytics is another major use case. AI allows for real-time predictions, making it an invaluable tool.


Lastly, voice search optimisation presents a vast and exciting opportunity. I expect to see significant developments in this area as voice search continues to gain traction.



What are the kind of companies using it? Is it only the modern marketers or traditional brands too?


Obviously, D2C or digital-first brands are adopting AI faster. They inherently need it more because they operate online and have the wealth of first-party data readily available. This data advantage allows them to leverage AI extensively, though effectiveness remains a separate discussion. Similarly, companies with robust first-party data, like telecom and banking institutions (even beyond purely digital players), will be prime candidates for AI adoption.
However, the data landscape for traditional FMCG companies differs. Their data comes from fragmented sources like distribution and sales channels, unlike the more streamlined data flow of a telecom company. While the desire to leverage AI for efficiency and cost savings is universal, the adoption challenges will vary significantly between these two types of organisations.




Coming to Kantar’s new tool Link AI, what is it exactly? And how is it helping marketers?


The first thing to understand here is how Link works. Link, our 30-year-old ad ad testing tool in India, boasts a massive database. We've tested over 30,000 ads domestically and an estimated 120,000 globally. Link AI leverages this data – consumer responses gathered through primary research (showing them ads and gauging their reactions) – to predict an ad's market performance. Essentially, we've trained an algorithm on consumer data, allowing you to test your ad and predict its success in just 10-15 minutes.



However, it's important to remember that AI is a powerful but imperfect tool. While Link AI is excellent for testing campaigns it shouldn't replace all consumer research. For completely new ad concepts or high-budget campaigns, traditional consumer feedback remains crucial. Link is best suited for situations where time is limited and you're testing variations on existing concepts. After all AI is as good as the pattern of the past.





Since you mentioned not replacing traditional consumer research with AI, according to you how is the right balance maintained between human intelligence and AI?



To explain it with our product, I’d say Use Link AI when you're confident that historical data is a strong predictor of future performance. This applies to ads that follow established formats. For instance, if we've tested 100 ads for your business and your new ad adheres to similar patterns – perhaps with refreshed characters or a portfolio update – Link AI is a great option.


It's especially valuable for digital advertising where testing is often neglected compared to costlier mediums like television. While traditional testing involves pre-production costs, digital ads often launch untested. Link AI bridges this gap – it's faster than traditional methods like A/B testing and introduces you to the power of data-driven ad optimisation.



Remember, Link AI is ideal for iterative testing within established campaign structures. For completely new ad concepts or high-budget campaigns, consider traditional consumer research alongside Link AI's insights.




For how long has Link AI been in the market? Can you explain with an example how it has helped any client of yours?



Link AI was launched last year and we have multiple clients using it. While we cannot name any of them I can explain how we help clients with an example. 


For a major food and beverage client, we created a customised creative playbook. We analysed advertising within their competitive landscape to identify trends and effective ad formats. This playbook serves as a valuable resource, guiding them towards ad types that historically perform well in their category.



In addition to these types of playbooks, we offer subscription packages. These subscriptions cater to various needs. For example, you might have an existing ad you want to test or optimise. Our AI can analyse it and recommend the most impactful 30-second edit.




By now we are familiar with some advantages of AI especially in marketing but is it also cost effective?


Of course. It is fraction of the traditional cost. While there are reasons behind this lower price point, it's important to remember that we also provide significant consulting expertise alongside the tool itself. When you factor in both the cost savings and the consulting support, Link AI easily becomes more affordable option compared to traditional methods.



However, speed might be the even bigger advantage. Link AI delivers results significantly faster, making it a valuable asset in today's fast-paced marketing environment.





Do you think these smart tools will replace human resources in organisations especially in marketing functions?



The impact of AI on marketing jobs depends on how you define the job. At its core, marketing revolves around understanding consumer behaviour, which is a strength of human marketers. We possess a deep and nuanced understanding that AI can't easily replicate.


Ideally, marketers will be the ones shaping the algorithms. Our expertise in consumer behaviour is crucial to ensure algorithms are designed correctly and deliver accurate insights. If the data fed into the algorithm is flawed, the results will be misleading.


Having said that AI will likely automate repetitive tasks like writing basic marketing briefs. This shift will free up marketers to focus on more strategic initiatives, like developing creative concepts and building stronger customer relationships. The repetitive, less-skilled roles may face greater impact from AI, not just in marketing but across various industries.

D2C brands lead the way in AI adoption in marketing: Kantar’s Soumya Mohanty

India is poised for an AI (artificial intelligence) revolution, with inexpensive internet access and widespread smartphone adaption. According to a recent  Kantar ICUBE data report, AI is already touching the lives of 9 in 10 internet users in India.


This access according to Kantar, is powered by the enormous computing capabilities on people’s phones, connectivity, and cloud infrastructure. 


The current AI user base of the country stands at 724 million and poised to grow YoY at 6 percent. These are users who have used any of the AI features like image filters, personalised recommendations, smart devices, etc till now.
 
 
Adoption of AI among users is currently high for popular features while enhanced AI functionalities are catching up.


According to Kantar’s findings, 88  percent consumers used AI based algorithms which analysed their preferences, behaviours, and interests to create personalised recommendations for tailored experiences. This segment grew at 6  percent YoY in 2023.


88 percent consumer also automated various tasks and streamlined routines to enhance efficiency and productivity in their daily lives using AI. This segment grew at 6 percent YoY. 


86 percent used ‘image enhancement filters’ so that the resulting image is improved in terms of sharpness, contrast, brightness or with other features. This segment grew at 5 percent YoY in the year gone by.


At 21 percent, ‘smart home automation’ is a smaller segment but growing at 25 percent YoY. Lastly, 15 percent consumers enhanced their ‘user experience through virtual assistants’ across platforms, in 2023. This segment is the fastest growing at 27 percent YoY. 

 
As per Kantar reports, while AI technologies are touching most internet users of India today, their usage is expectedly higher among the youth (19–24-year-olds) at 92 percent and interestingly, also at a high 81 percent for the older (45+ year old) age bracket. 
 
 
“AI is inevitable. Historically, technology adoption has always been a dominant determinant of a brand’s trajectory. We at Kantar feel that it is important to help marketers humanize AI to innovate successfully, help activate AI to predict future performance, maximize ROI and use AI strategies to build competitive advantage for sustainable growth,” said Soumya Mohanty, Managing Director and Chief Client Officer- South Asia, Insights Division, Kantar.


“We have created a range of offerings which will benefit marketers and consumers by extension. LINK AI is one such solution, which helps evaluate creative effectiveness at scale and has helped uncover new insights into creating better video ads on YouTube which has a proven track record of growth, following Google’s ABCD framework. Similarly, we have introduced best in class offerings like LIFT ROI, Trend AI and NeedScope AI for various stages of brand growth as well,” Mohanty added.
 
 
Puneet Avasthi, Senior Executive Director, South Asia, Insights Division, Kantar added “Generative AI is set to become a $1.3T market by 2034 with a possible 42 percent CAGR growth over the next 10 years. We are sitting at a point of inflection where the next few years will enable a competitive edge between businesses who adopt early and others. As the usage of AI grows rapidly, it is critical for marketers to not use AI in isolation and as a gimmicky fad, but weave in consumer behavioural data into it to remove biases, continue to focus on building equity and not just to run activations.”

 


9 in 10 internet users in India are already using AI in some form or the other: Kantar

In today’s digital era, Artificial Intelligence plays a crucial role in establishing workflow and changing human capabilities. Achieving long-term success in the hiring process now depends on staying ahead of the curve as companies navigate this revolutionary period.



The demand for hiring AI talent has seen a hike in the recent years across various sectors. Having said that, according to a report by the World Economic Forum, AI and machine learning specialists are among the most sought-after professionals globally. This demand is fuelled by the promise of AI to revolutionize industries through automation, predictive analytics, and cognitive computing.


 
Moreover, a LinkedIn survey discovered that among the top emerging skills needed by companies are AI abilities like machine learning, natural language processing, and data science. The demand for AI expertise is widespread and reflects the need for creative solutions driven by AI across industries, including technology, finance, healthcare, and manufacturing.


 
The challenge of AI talent shortage

 
The hiring industry is in the midst of a profound technological shift, with AI at the forefront of this transformation. Staffing firms that embrace AI technology and adapt their strategies to leverage its potential will find themselves ahead of the curve in a highly competitive industry. AI can streamline operations, improve candidate and client experiences, and provide valuable insights for data-driven decision-making.


 
Despite the growing demand for AI talent, there exists a significant shortage of skilled professionals in the field. According to a survey conducted by Deloitte, 67 percent of organizations struggle to find qualified AI talent. This talent gap poses a considerable challenge for businesses looking to capitalize on the potential of AI to drive growth and innovation.


 
Moreover, the competition for AI talent is fierce, with tech giants like Google, Amazon, and Microsoft aggressively recruiting top talent from both academia and industry. Startups and smaller companies often find it challenging to compete with these established players in attracting and retaining AI talent, further exacerbating the talent shortage.
 



Strategies for staying ahead in hiring

 
To navigate the AI talent revolution successfully, businesses must adopt proactive strategies to stay ahead in hiring-

 
Invest in talent development is crucial: By investing in talent development initiatives, such as upskilling current staff members and providing training opportunities in AI-related fields, organizations may close the talent gap in AI. Businesses may develop a competent workforce capable of spearheading internal AI efforts by fostering internal talent.


Collaborations and partnerships with academia: Working with academic institutions and research centers can give you access to a talent pool of up-and-coming AI experts. Creating collaborations through research initiatives, academic programs, and internships can assist companies in identifying and hiring bright young talent in artificial intelligence.



Promote diversity and inclusion: To promote creativity and innovation in AI development, diverse team composition is crucial. Organizations may harness a variety of viewpoints to accelerate AI innovation and recruit a larger talent pool by encouraging diversity and inclusion efforts.



Offer best remuneration as per the industry: Companies need to provide competitive pay and benefits that are specific to the needs of AI experts in order to draw in top AI talent. This covers chances for career progression, equity incentives, performance bonuses, and competitive pay.



Create a strong employer brand: Creating a powerful employer brand is essential to drawing in and keeping AI talent. Emphasizing the company's dedication to innovation, professional growth, and work-life equilibrium can set it apart from rivals and attract the best personnel in the industry.



Utilize AI in the hiring process: Using AI-powered recruiting tools can help find qualified candidates more quickly and expedite the hiring process. With the use of AI algorithms, recruiters can make data-driven hiring decisions by analyzing resumes, evaluating candidates' talents, and even projecting their performance.



 
The way ahead
 


Businesses looking to use AI to spur innovation and expansion have both possibilities and challenges because of the AI talent revolution. Organizations can remain ahead of the curve when it comes to hiring AI talent by implementing proactive hiring practices, making investments in talent development, and cultivating a culture of diversity and inclusion. They can set themselves up for success in the increasingly AI-driven digital economy by doing this.
 


Remaining flexible and proactive in the recruitment of people will be crucial for organizations to keep a competitive edge in the global market as they continue to adjust to the changing AI landscape. Organizations can create the workforce of the future and prosper in the AI era by making strategic investments in talent development, forming alliances with academic institutions, and strengthening their commitment to diversity and inclusion.




Lokesh Nigam is the CEO and Co-founder of Konverz.ai, an AI-driven hiring solution platform.

Despite the growing demand for AI talent, there exists a significant shortage of skilled professionals in the field: Lokesh Nigam

To launch a Market Study to understand the ecosystem around Artificial Intelligence and Competition in India, the Competition Commission of India (CCI) has invited proposals for engagement of an Agency and Institution for conducting the study. The last date for submission of proposals is 03.06.2024, by 05:00 PM. 

The Competition Commission of India (CCI) will launch a Market Study on Artificial Intelligence (AI) and Competition to understand the transformative capabilities of AI that have significant pro-competitive potential, as well as competition concerns emanating from the use of AI. The proposed study will be a knowledge building exercise to develop an in-depth understanding of the emerging competition dynamics in the development ecosystems of AI systems and implications of AI applications for competition, efficiency and innovation in key user industries.

The objectives of the study are the following:
To understand certain key AI systems and markets/ecosystems thereof, including AI actors/stakeholders, essential inputs/resources, value chains, market structures and parameters of competition;
To examine the emerging and potential competition issues in these markets/ecosystems, if any;
To study the scope and nature of AI applications/use cases, and assess associated opportunities, risks and ramifications from a competition standpoint;
To understand the existing and evolving regulatory/legal frameworks governing AI systems and applications in India and other major jurisdictions;
To reach out to all relevant stakeholders for a holistic understanding of the issues at the intersection of AI and competition;
To understand trends and patterns of AI and to ascertain enforcement and advocacy priorities of the Commission with respect to AI and its application in markets.

CCI calls for proposals for launching Market Study on AI and Competition in India

Asia/Pacific region is witnessing an unprecedented surge in Generative AI (GenAI) adoption, including software, services, and hardware for AI-centric** systems with spending projected to soar to $26 billion by 2027, with a compound annual growth rate (CAGR) of 95.4 percent for the period 2022-2027, as per IDC's latest Worldwide AI and Generative AI Spending Guide. This surge underscores the region's pivotal role in driving the next wave of AI innovation and technological advancement.

GenAI is a branch of computer science involving unsupervised and semi-supervised algorithms that enable computers to create new content using previously created content, such as text, audio, video, images, and code, in response to short prompts. IDC believes GenAI will be a trigger technology to transition to a new chapter in the move toward automation for both internal and external parties across generic productivity, business function–specific enhancements, or industry-specific tasks.

“We anticipate that Asia/Pacific will experience a surge in the adoption of Generative AI, with growth rates expected to match those of North America, largely due to enterprises investing heavily in developing data and infrastructure platforms tailored for GenAI applications. We forecast that this investment in GenAI will reach its zenith within the next two years, followed by a period of stabilization. China is projected to maintain its position as the dominant market for GenAI, while Japan and India are set to become the most rapidly expanding markets in the forthcoming years,” Deepika Giri, Head of Research, Big Data & AI, IDC APJ.

Unlocking the vast potential of GenAI, the Asia/Pacific region is poised for a transformative journey across various sectors. With robust digital infrastructure and growing investments in technology, Asia/Pacific emerges as a pivotal player in this dynamic landscape. Strategic investment in hardware, software, and associated services for GenAI is crucial to sustaining and propelling this progress. From software development to customer service, GenAI is revolutionizing industries, ushering in a new era of innovation in Asia/Pacific.

IT spending in GenAI technology progresses through three distinct stages. Initially, during the GenAI Foundation Build phase, attention is directed towards enhancing core infrastructure, investing in IaaS, and bolstering security software. Subsequently, in the Broad Adoption phase, the focus shifts towards the widespread adoption of open-source AI platforms offered as-a-service, playing a fundamental role in digital business control planes. Finally, the Unified AI Services phase sees a surge in spending as organizations rapidly integrate GenAI to gain a competitive edge, diverging from the typical slower growth observed in new technology markets.

"GenAI isn't a fleeting trend. Its capacity to generate entirely new content, across various mediums, such as images, videos, code, and marketing materials, promises substantial efficiency gains and paves the way for innovative creative opportunities, granting a competitive advantage," says Vinayaka Venkatesh, Senior Market Analyst, IT Spending Guides, Customer Insights & Analysis, IDC Asia/Pacific. "A significant portion of organizations have either already adopted Generative AI or are in the initial stages of experimenting with models," Vinayaka Venkatesh ends.

The financial services sector is experiencing rapid growth in Generative AI adoption in Asia. It is projected to reach $4.3 billion by 2027 with a remarkable CAGR of 96.7 percent. Within this industry, GenAI is being utilized internally to enhance operations efficiency, automate repetitive tasks, and optimize back-office processes such as fraud detection and the creation of intricate documents. Generative AI-powered solutions provide tailored financial services like personalized planning tools and reports, which dynamically adjust to meet customers' evolving needs. Furthermore, the integration of GenAI yields substantial benefits to profitability by cutting costs, driving revenue generation, and enhancing productivity across various functions such as DevOps, marketing, and legal compliance.

The software and information services industry stands as the second-largest adopter of GenAI, embracing its versatility across sectors such as marketing, data analytics, and software development. Within marketing, GenAI can streamline content creation for websites, blogs, and social media platforms, optimizing marketing strategies and enhancing audience engagement. In data-driven fields like machine learning and analytics, GenAI proves invaluable for generating synthetic data, enriching existing datasets, and improving model performance and resilience. Additionally, in software development, these tools aid developers by automating coding tasks, generating prototypes, and accelerating the software development lifecycle, leading to heightened productivity and efficiency.

As the third-largest adopter of GenAI, governments across the Asia-Pacific region have a substantial opportunity to transform their operations and service delivery. This technology holds the potential to enhance efficiency, transparency, and citizen engagement. Governments are well-placed to spearhead efforts in advancing education and training in GenAI, thereby catalyzing the creation of new job prospects, and stimulating the growth of technology innovation hubs. These hubs will function as focal points for state-of-the-art training, bolstering skill sets, and nurturing the emergence of future AI professionals, including scientists, engineers, technicians, and specialists.

In the rapidly evolving Asia/Pacific retail market, characterized by diverse consumer preferences and advancing digital technologies, retailers are increasingly turning to GenAI to gain a competitive advantage. GenAI enables enhanced personalization, tailoring experiences to individual preferences, while also boosting efficiency by automating tasks like product design and content creation, thereby accelerating time-to-market. Furthermore, retailers leverage GenAI to create dynamic visual content and interactive experiences, fostering heightened customer engagement and loyalty.

IDC’s Worldwide AI and Generative AI Spending Guide measures spending for technologies that analyze, organize, access, and provide advisory services based on a range of unstructured information. The Spending Guide quantifies the AI opportunity by providing data for 38 use cases across 27 industries in nine regions and 32 countries. Data is also available for the related hardware, software, and services categories. The AI and Generative AI Spending Guide is produced to provide the latest market developments through an accurate and quality forecast. During the period between updates, IDC's AI and Generative AI analyst teams conduct primary and secondary research to support this data product. Research in the period from August 2023 to February 2024 resulted in multiple additions and enhancements to the data. In this release of the AI and GenAI Spending Guide, we distilled leading forecasts such as IDC's Worldwide Black Book and IDC's Worldwide ICT Spending Guide, as well as AI and generative AI research led by IDC's AI Council of senior researchers globally.

20 percent of Asia/Pacific organizations are planning to build their own generative AI models. Explore IDC's latest eBook to stay equipped for the GenAI revolution. 



Generative AI spending to reach $26 billion by 2027: Report

India is actively laying the groundwork for future dominance in 6G technology. In an interaction with Moneycontrol, Dr Neeraj Mittal, Secretary of the Department of Telecommunications, Ministry of Communications, said the transition from 5G to 6G would be a 10 year cycle. 


“Work is actively happening on 6G. 6G is an evolving technology. From 5G to 6G, it will be a 10-year cycle, the way it was for 4G to 5G transition. You need to do R&D, standardisation, and then implementation. I think we are still very far away from 6G, but of course, the work has started. We have the Bharat 6G Alliance,” Moneycotrol quoted Dr Mittal.


The department has also recently asked for projects to be financed under 6G said Dr Mittal. 

India aims to replicate its success with 5G deployment, becoming a global leader in 6G as well. 

Dr. Mittal pointed to India's instrumental role in the widespread adoption of 5G technology. According to him, the country is gearing up for similar leadership in 6G standard-setting, R&D, and boosting domestic manufacturing capabilities.

“Both academia and industry are very gung-ho about the future of 6G in India,” he said.

The telecom secretary also spoke about the use of AI within DoT. 

The department uses artificial intelligence, real-time data, GIS, and geo-analytics to do infrastructure planning, especially telecom data.

“We have done it in Bengaluru, Hyderabad and Delhi. We examine telecom data to see how people move from one place to another… for instance, we plan the metro station better using that. That's all AI,” he said.


He also spoke about the role of AI is mainly in the Chakshu portal where citizens can report suspected fraud communications and the Digital Twins project where digital technologies are used with with infrastructure planning to address real-world challenges.


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