GenAI a Top Priority for 42% of Tech, Media, and Telecom Firms in India: PwC Survey
New Delhi: Generative Artificial Intelligence (GenAI) is fast becoming a key driver of transformation for India’s technology, media, and telecommunications (TMT) industries, with 42% of sector chief executives identifying it as one of their top three strategic priorities, according to a new survey by PwC India. The survey, titled ‘GenAI in Technology, Media, and Telecommunications (TMT): From Concept to Reality,’ highlights the growing importance of GenAI, its applications, and its potential to revolutionize business models across these sectors.
GenAI’s Transformative Potential
The survey reveals that 58% of organizations in the TMT sector view GenAI as a long-term disruptor, underlining the technology’s potential to reshape industries by streamlining operations, enhancing customer experiences, and unlocking new efficiencies. The technology sector leads the charge in GenAI adoption, with 68% of respondents identifying it as a key disruptor, followed by media and entertainment (51%) and telecommunications (40%).
Manpreet Singh Ahuja, TMT sector leader and chief digital officer at PwC India, emphasized that the impact of GenAI is already visible across these industries, with each sector exploring unique applications. “GenAI is rapidly transforming the TMT landscape. Companies across these industries are leveraging the technology to drive product development, content creation, and operational efficiency, leading to major shifts in how they conduct business and engage with customers,” Ahuja said.
GenAI in the Technology Sector
According to the survey, the technology sector is at the forefront of GenAI adoption, with 80% of companies already implementing AI-driven solutions. In this industry, GenAI is driving innovation by enhancing product development and system integration processes. From automating software design to improving cybersecurity through real-time threat detection, GenAI is playing a crucial role in enhancing operational efficiencies and accelerating the time-to-market for new products and services.
The high adoption rates in technology reflect the sector’s forward-thinking approach and willingness to invest in advanced tools that not only enhance internal processes but also deliver value to customers. With the growing demand for AI-driven products, companies are seeing significant opportunities to use GenAI for predictive analytics, customer support, and personalized user experiences.
GenAI in Media and Entertainment
In the media and entertainment industry, GenAI is transforming content creation, with firms using the technology to generate audio, video, and text more efficiently. The survey predicts that significant implementations of GenAI will take place within the next year, particularly in areas like scriptwriting, video editing, and content personalization. This has the potential to revolutionize how content is produced and distributed, allowing media companies to cater to diverse audiences more effectively while reducing production costs.
GenAI’s capabilities in media also extend to targeted advertising, where AI can analyze consumer behavior patterns and preferences to tailor advertisements, improving engagement and conversion rates. As content consumption continues to evolve in the digital age, GenAI is poised to play a critical role in reshaping the media landscape.
GenAI in Telecommunications
Telecommunications companies are also beginning to harness the power of GenAI, particularly for operational support. GenAI is being used for automated fault detection, real-time network optimization, and AI-powered digital assistance, transforming how companies manage infrastructure and interact with customers. By using GenAI for predictive maintenance and personalized customer service, telecom firms can reduce downtime, improve service quality, and enhance customer satisfaction.
However, the telecom sector lags behind in realizing GenAI’s full potential, with 30% of telecom executives uncertain about when they will see a return on their investments in the technology. Despite this, many in the industry recognize the long-term value that GenAI can bring, particularly in enhancing operational flexibility and enabling a more seamless customer experience.
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GenAI Adoption and ROI in TMT
The survey indicates that 65% of TMT companies have already implemented at least one GenAI application, with nearly half of them establishing a strategic roadmap for further deployment. Technology companies lead the way, with 80% having implemented GenAI solutions, while media and telecom firms are increasingly exploring new use cases.
In terms of return on investment (ROI), 40% of TMT C-suite executives, especially in technology and telecom, report having already realized benefits from their GenAI initiatives. Meanwhile, 32% of technology respondents expect to achieve their anticipated ROI within the next year. However, uncertainty remains in the telecom sector, where a significant portion of executives are unsure when they will start seeing returns.
Challenges Ahead
Despite its transformative potential, the adoption of GenAI comes with its own set of challenges. According to the survey, companies face hurdles such as the high cost of implementing AI infrastructure, the need for skilled talent, and concerns around data privacy and security. Additionally, there are ethical considerations surrounding the use of GenAI, particularly in terms of transparency, accountability, and the impact of AI-generated content on jobs.
Manpreet Singh Ahuja pointed out that while challenges exist, the benefits of adopting GenAI far outweigh the risks. “The incorporation of GenAI will lead to a major transformation across the TMT sector, improving operations, enhancing customer satisfaction, and driving efficiencies. Companies that successfully implement GenAI will be better positioned to lead in the new digital age,” Ahuja concluded.
Conclusion
As GenAI continues to gain traction in India’s TMT sector, its potential to drive innovation, improve customer experiences, and enhance operational efficiency is becoming increasingly clear. With 42% of firms already prioritizing GenAI, the technology is poised to become a key driver of growth and competitiveness in the coming years. However, overcoming the challenges of implementation will be crucial for companies aiming to harness its full potential.
