National Technology Day: "Generative AI is transforming businesses", says Vikram Ahuja, MD, ANSR

The National Technology Day is a moment to reflect on the advancements in technology we have achieved in just one year. And the last year was filled with such examples. We saw major breakthroughs in blockchain technology, and web3 development, but what stole the show was AI after ChatGPT was launched publicly. And the prowess of AI is not something that anyone can deny any further. To explain the role this emerging technology is playing for businesses, Vikram Ahuja, Managing Director of ANSR and cofounder and CEO of Talent 500, offered his insights into being an entrepreneur and being hands-on with AI.

On the growth of technology in the last year

The last year was marked by significant technological advancements and changes in response to the COVID-19 pandemic. There have been rapid developments in Artificial Intelligence and Machine Learning, 5G networks, remote work technologies, Blockchain, and Augmented and Virtual Reality. The rollout of 5G networks has led to faster data speeds and improved connectivity, while Blockchain technology continues to gain momentum with new use cases emerging. Augmented and Virtual Reality technologies are increasingly being used in various industries.

However, the most disruptive of all has been generative artificial intelligence (GAI). Practically every business this year has been racing to embrace GAI. There have already been several use cases such as creating personalized content for marketing campaigns, improving product design, and automating customer service.

On major bottlenecks in technology

Cybersecurity threats: With the rise of technology, cyber threats have become a major concern for businesses and individuals. Data breaches and cyber-attacks can result in significant financial losses and reputational damage.

Skills gap: As technology continues to advance rapidly, there is a growing skills gap among the workforce. This can limit the potential of technology to drive innovation and growth in various industries.

On the concerns around AI

AI also poses challenges such as ethical concerns around the creation and use of artificial content, the potential for misuse, and the need for human oversight to ensure accuracy and avoid bias. Despite these challenges, generative AI is rapidly transforming the way businesses operate and is likely to continue to do so in the years to come.

On National Technology Day

The National Technology Day is an occasion to acknowledge the tremendous contributions of our tech community in the nation’s progress. As the world grapples with recessionary pressures and economic uncertainty, India’s tech industry continues to display remarkable resilience. The strong and sustained growth and innovation in the technology space presents a unique opportunity for India to position itself as the world’s technological powerhouse.