Artificial Intelligence (AI) offers India a $15-trillion economic opportunity, transforming supply chains, vendor management, and customer interactions, says Joe Atkinson of PwC. AI enables hyper-personalized services and new business models through data-driven insights. Despite its potential, some companies remain hesitant, but incremental adoption can drive productivity and innovation. PwC leads by example, integrating AI across its workforce and fostering hands-on learning through "prompting parties." Empowering employees with AI tools eases concerns about job displacement while unlocking growth and transformative opportunities.
Artificial Intelligence (AI) is poised to revolutionize India's economic landscape, offering a staggering $15-trillion opportunity in the coming years, according to Joe Atkinson, Chief AI Officer at PwC. This transformative power extends across supply chains, vendor management, and various market challenges, unlocking unprecedented potential for businesses.
“Companies can now deal with larger pools of data across a larger volume of clients and customers,” Atkinson remarked. “As a result, microtransactions have become much more workable and attractive. Before AI, building an expensive infrastructure to pursue microtransactions was often impractical. It’s one example where AI is unlocking new business models.”
By leveraging data from microtransactions, businesses can deliver hyper-personalized services to customers, thanks to sophisticated recommendation engines powered by AI and generative AI. These technologies create tailored user experiences, enabling companies to connect with customers on a deeper level than ever before.
Yet, despite the remarkable capabilities of AI, some organizations remain hesitant to embrace its potential. For these businesses, the key is not blind trust but taking incremental steps toward integrating AI into their processes, noted Manpreet Singh Ahuja, Chief Digital Officer for PwC India.
“Companies often embark on their tech journey by prioritising productivity, and as they achieve measurable success, excitement follows. The next horizon emerges when gen AI empowers businesses to interact directly with their data, unlocking real-time insights and enabling precise, data-driven decision-making,” Ahuja explained.
Many of India’s leading enterprises have already moved beyond initial AI implementations for productivity and are leveraging the technology to gain deeper insights into consumer behavior. While the impact of AI may vary by industry and region, Ahuja emphasized that no sector will remain untouched by this innovation.
“This is where strategic gains take shape, paving the way for transformative opportunities and then start the journey of new revenues, innovative business models and growth. However, none of this is possible without the foundational investment in making data AI-ready,” he added.
To lead by example, PwC has integrated AI and generative AI tools across its global workforce of 300,000 employees. The firm has also established AI-first teams tasked with reimagining delivery models, ensuring they remain future-ready. Atkinson highlighted the importance of empowering employees to embrace AI.
“No amount of technology you deploy in a professional services company will mean anything if your people are not using it or learning with it. At PwC, we bring our people together in offices with AI champions to guide them through how to apply our AI tools — events we call ‘prompting parties’,” said Atkinson.
These interactive sessions provide employees with hands-on experience to experiment with AI tools, fostering both professional growth and technology adoption. According to Ahuja, such initiatives have helped alleviate concerns about AI replacing jobs, as employees witness firsthand the productivity gains AI brings to their daily tasks.
With AI enabling transformative opportunities and driving innovation, India stands on the brink of a new era of economic growth, fueled by the strategic adoption of these groundbreaking technologies.
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