The Financial Express
By Ankit Sinha
Generative AI, often hailed as a transformative force, is poised to reshape industries in ways we can hardly fathom. This cutting-edge technology represents a departure from traditional AI, which primarily relies on rule-based systems. Generative AI leverages the capabilities of neural networks to produce content that isn’t explicitly programmed, spanning the creation of text, images, videos, and even entire virtual environments.
In India, the impact of Generative AI is nothing short of revolutionary, transcending conventional notions of automation and efficiency to usher in a realm of boundless creativity and innovation.
A compelling illustration of this transformative power is the collaboration between WPP and Mondelez on a Generative AI-powered Cadbury campaign. Through the integration of Generative AI and featuring the Bollywood star, Shah Rukh Khan, the brands targeted the small stores and aimed at personalization. Creating a microsite, the brands paved the way for small businesses and people to generate their own versions of the ad with the star. The result? More than 1,30,000 ads were created which attracted 94 million + views and engagement, accompanied by a more deeply engaged and loyal customer base.
The Creative Renaissance
Generative AI has empowered individuals to unlock their creative potential. Aspiring designers, artists, and content creators are experimenting with AI-driven content generation, reinventing music and artwork creation. In India, creative industries with revolutionary tools and platforms, such as Adobe’s Firefly and Midjourney, have enabled users to integrate objects into existing images seamlessly. Designers are redefining image manipulation and creating visuals so authentic that distinguishing between real and AI-generated elements becomes a delightful challenge. Beyond static imagery, Generative AI is expanding its creative prowess into 3D modeling and video production, democratizing these once-complex tasks for a broader creative audience.
By fusing human creativity with AI capabilities, the creative process itself is undergoing a transformation in India. With more designers adopting AI and ML into their workflows, the graphic design market in India is projected to undergo a tremendous transformation of 7.3% CAGR by the end of 2023.
E-Commerce Revolution
The rapid advancement of Generative AI is reshaping India’s e-commerce landscape, propelling it towards an estimated worth of over 350 billion U.S. dollars by 2030. This growth is driven by the diverse and ever-changing preferences of Indian consumers, emphasizing the pivotal role of personalization.
In 2022, over 750 e-commerce startups secured an astounding $11.7 billion in funding, with AI playing a central role in their operations. Thanks to AI, consumers can now instantly visualize how a specific product complements their style, fostering a deeper connection between customers and brands.
AI-driven solutions are introducing groundbreaking features to make shopping more intuitive and engaging. Generative AI analyzes consumer behavior and preferences to offer highly tailored product recommendations, significantly improving the chances of conversions. Additionally, it powers content generation, ensuring a continuous flow of engaging and relevant information on e-commerce websites, from product descriptions to blog posts. Furthermore, AI-driven inventory management optimizes stock levels by predicting demand patterns, reducing overstocking, and minimizing shortages. It also assists in pricing optimization, ensuring competitive prices while maximizing profitability.
Lights, Camera, AI: Transforming Entertainment
In the entertainment sector, Generative AI has taken the spotlight, particularly in visual effects (VFX) and video content creation. What was once a laborious and challenging process can now be accomplished with remarkable speed. VFX is becoming more accessible due to its ability to seamlessly replace video elements, including intricate 3D models. Moreover, India’s animation and VFX industry was valued at around 107 billion Indian rupees in 2022.
Its nuances are not limited to just the VFX industry, it assists the filmmakers of industries to analyze the audience’s feedback and make informed decisions. From content creation, writing of diverse characters to immersive environments, Generative AI has offered a new level of freedom and creativity to the entertainment industry.
AI & Medicine: Advancing Healthcare
Generative AI is orchestrating a healthcare revolution in India. Medical professionals can visualize complex data through the fusion of AI and augmented reality (AR). This synergy is redefining healthcare approaches, leading to improved patient care and diagnostics. Medical practitioners can streamline routine procedures, freeing up valuable time for more complex tasks, all made possible by AI’s remote capabilities.
AI-driven algorithms are significantly enhancing medical imaging, aiding doctors in providing more precise diagnoses. The collaboration between AI capabilities and human expertise has the potential to save lives and advance medical treatment. With AI at its back, the healthcare industry in India is expected to reach $11.78 billion by 2025, adding $1 trillion to India’s economy by 2035.
Preserving Digital Legacies
Beyond these remarkable advancements, Generative AI is expanding the realms of possibility in preserving digital legacies. Imagine a future where it’s feasible to digitally immortalize voices, personalities, and thoughts. This innovative concept enables the preservation and recreation of digital versions of individuals, completely with their unique voices and personas. Hence, even after death, Generative AI can be used to preserve their voice, thoughts, memories, and much more.
Historical figures, scientists, or beloved individuals can exist in digital form, preserving their knowledge, insights, and memories for future generations. While this concept is still in its infancy, it illustrates that Generative AI goes beyond task automation; it redefines our interactions with technology and our own legacies.
The Collaborative Revolution
Generative AI is not a self-sustaining tool in this journey of transformation. As AI becomes more accessible, it’s enabling a collaboration between human ingenuity and machine intelligence.
Artists, writers, and musicians are now embracing Generative AI as a source of inspiration. These tools don’t replace human creativity; instead, they augment it. Musicians are experimenting with AI-generated melodies, writers are using AI to spark new ideas, and artists are blending their vision with AI to create groundbreaking pieces. As a result, AI has only amplified the quest and quality of creativity across several industries, which has been a boon for writers and designers to have a head start in their passion or profession.
The Path Forward
We must continue nurturing creativity, innovation, and accessibility. However, it is important to recognize that without the right training, Generative AI may not be available to everyone due to its high computational demands. With the digital divide, such as the non-availability of high-performance computing systems at several corners of India, there can be a wide skill gap. Similarly, inadequate training may lead to the question of unethical practices, thereby increasing the risk of security.
An optimal solution is the introduction of specialized Generative AI courses in schools and corporate training. We may soon witness scenarios wherein corporations are collaborating with educational institutions to develop prowess in the field of Generative AI. Similarly, leveraging technology, schools and universities can facilitate Google resources and Generative AI toolkits, ensuring students carve an experience with the software and hardware learning.
India stands at the cusp of a remarkable future, one where creativity, innovation, and accessibility are the driving forces behind our nation’s progress. We are witnessing the dawn of a new era where human ingenuity collaborates with machine intelligence to redefine what’s possible. Generative AI is the force that will drive India into a future defined by limitless possibilities.
The author is co-founder, Chief Technology Officer, Tagbin
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