homebusiness Newscompanies NewsDeloitte’s AI Forum 2024 – Exploring AI’s profound impact on enterprises and experiences
Deloitte’s AI Forum 2024 – Exploring AI’s profound impact on enterprises and experiences
Charting the course for the next phase of business evolution and using new technologies to drive sustainable business impact.
In a world where technology continues to push the boundaries of possibility, Deloitte’s AI Forum 2024 was themed “The AI generation: A new age of possibility.” The second edition of Deloitte’s India AI Forum, which allowed for a captivating exploration of the potential of Generative AI (GenAI), was held on January 30, 2024.
The forum provided a holistic view of GenAI, covering its theoretical underpinnings, practical applications, and future implications. Attendees gained valuable insights through interactive sessions and real-world success stories that delved into the nuances of optimising data, building trust, and nurturing the human-machine relationship in the era of GenAI. Besides sharing information and knowledge, the event also provided an opportunity to establish strategic partnerships with like-minded leaders.
While inaugurating the event with Prashanth Kaddi, Partner, Deloitte, Sanghamitra Pati, Managing Director, Deloitte, said, “GenAI is a secular trend that is deeply transformative. We are seeing a lot of potential and outcomes already as we journey with our clients and alliances. We are very happy to bring those experiences to life at this great forum, which enables us to ideate and brainstorm together.” This marked the start of an informative series of enlightening fireside chats, panel discussions, and presentations.
A highlight of the event was a fireside chat themed “The GenAI paradigm: Impact on society, economy, and the future” that featured Romal Shetty, CEO, Deloitte South Asia, and Sonam Wangchuk from the Himalayan Institute of Alternatives. They discussed a wide range of topics, including how AI can democratise education to realise its transformative potential and the risks and challenges associated with its widespread adoption. In the session on “Leading by example: Deloitte’s Generative AI approach,” panelists Saurabh Kumar, Partner, Deloitte, and Vishal Sharma, Managing Director, Deloitte, spoke about the company’s own journey of change with GenAI and how its delivery centres in India adapted to the change. Moderated by Deborshi Dutt, Principal, Deloitte, they also talked about how they raised awareness of GenAI among their own people before creating shifts in clients’ mindsets.
In contrast to the technology perspective in other discussions, “Generative AI and Workforce: What lies ahead” unveiled a CHRO’s perspective on how GenAI would reshape the talent lifecycle and workforce dynamics. Moderated by Deepti Sagar, Partner, Deloitte, the participants included Shilpa Vaid, CHRO, Diageo; Meenakshi Priyam, Group CHRO, Udaan; and Deloitte’s Kate Schmidt, who discussed various challenges and opportunities experienced and envisaged on this journey. They agreed that using GenAI would drastically reshape the nature of work and lead to significant productivity gains. While GenAI will make certain jobs redundant, it will also reshape and augment others and create new jobs in the future.
“Decoding customer experience: The Generative AI way” was another major discussion. It was led by Gaurav Gupta, Partner, Deloitte, with leading companies’ representatives, including Kamal Sharma, Carrier GCC head; Manik Nangia, Digital Transformation, Bajaj Auto; Lalit Wadhwani, Head of Product Engineering, Siemens Advanta; and Lenin Chaturvedi, VP IT, Takeda Plasma Therapies Group. They discussed use cases and best practices for utilising GenAI to improve customer/user experiences and drive innovation.
The session titled “Unlocking Generative AI for enterprises: The role data and analytics plays,” which was moderated by Prashanth Kaddi, Partner, Deloitte, discussed the crucial role of data and analytics. Vijay Veerachamy, Analytics Delivery Lead, Cargill; Anivesh Shandilya, Global Head, Data Architecture & Data Engineering, Unilever; Premal Buddhdev, Chief Technology Officer, Volkswagen; and Nithya Subramaniam, Kellogg’s, discussed the more practical aspects of implementing GenAI solutions, such as the perceived business value of outcomes and the ability of existing enterprise data to become a reliable underpinning for GenAI. The panellists emphasised the significance of defining clear business objectives and effectively using existing data assets.
“GenAI and AI are transformational technologies, but the big question is, how do we harness them to transform our businesses, our societies, and solve the problems that we face?” Prashanth Kaddi said. While referring to Deloitte’s “State of Generative AI in the Enterprise” report that was released in January 2024 at the Davos World Economic Forum, he said, “This report has a number of insights that cover strategy, technology, talent, governance, and all the aspects related to GenAI and AI that are required to be addressed to have a successful Generative AI programme and, more broadly, an AI programme.”
A session on “Exploring India’s AI Future: A venture capitalist and private equity perspective” provided a glimpse into India’s AI future, shedding light on the types of companies and projects that are expected to attract funding in the evolving AI landscape. Moderated by Jehil Thakkar from Deloitte, Sumangal Vinjamuri, Associate Vice President, Blume, and Nishant Rao, Founding Partner, Avataar Ventures Partners, participants shared their real-world experiences and offered valuable insights.
A fireside chat on “Trustworthy AI: The last mile for Generative AI success” underscored the importance of building trust in AI systems to ensure their success and adoption. Beena Ammanath, Leader, Deloitte AI Institute, and Debashish Banerjee from Deloitte stated that by focussing on trustworthy AI principles, organisations can mitigate risks and maximise the value derived from GenAI solutions. They also discussed how organisations can better understand the nature and scale of GenAI risks to increase the value they extract from them.
As the host of Deloitte’s AI Forum 2024, the Deloitte AI Institute reaffirmed its commitment to responsibly shaping the future of AI through this event. It led a conversation on AI with collaborative efforts and deep industry expertise, uncovering insights, unlocking the boundless possibilities to unravel AI’s profound effects, and setting the course for the next phase of business evolution.
Deloitte’s AI Forum 2024 was not just a gathering of minds but also served as a testament to the transformative power of GenAI. By fostering dialogue, sharing knowledge, and fostering collaboration, the event laid the groundwork for a future in which AI drives innovation, accelerates growth, and empowers human potential like never before.
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