Even though artificial intelligence (AI) has not been around long enough, it has transformed how various job roles are performed, especially in the IT industry. The rapid pace at which these changes have happened, has overhauled organisational behaviour.
Organisational behaviour or OB studies how people act and interact within a company. Think of a company as a big community and OB as observing and figuring out how people in that community behave—how they communicate, make decisions and work with each other.
AI itself will evolve drastically in 2023. From boosting productivity to ensuring all organisation-wide decisions are well aligned to the changing demands of the market using analytics, technology is the mainstay in every workplace communication.
For many functions, including marketing, HR, operations, and finance, the use of AI has led to new efficiencies in repetitive, basic tasks, such as background screening for HR, email generation for marketing, code generation for developers, early identification of anomalies in finance and operations, according to IT major Wipro.
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“Generative AI’s ability to scan and summarise huge volumes of data and documents means leaders can now derive highly contextualised analysis from existing materials. This allows them to make more personalised recommendations, enhancing their impact and accuracy when making critical decisions,” Amit Choudhary, Chief Operating Officer of Wipro told Moneycontrol.
With around 2.5 lakh employees, the company has set up an AI council to establish company-wide AI governance to ensure it is working towards the same goals, and to keep up the pace of “responsible” AI adoption.
Experimentation to implementation
AI has found its footing in enterprise operations where Mercedes-Benz India leverages it to drive intelligent and personalised conversations with its customers, remotely inspect their cars and create a seamless process.
Recently, the luxury automaker has introduced AI in customer service where customers can consent to opt for ‘Telediagnosis’ on their Mercedes Me application. The integration of AI has also begun in production with the use of data analytics. Its in-house ‘Techlab.MO’ accelerator has developed a data-driven ecosystem ‘INSIGHTS’ which drives the supply chain and reduces the waiting period for cars.
“In our business, we foresee AI predictive analysis playing an important role in helping us understand customer trends, purchase patterns and requirements which will influence R&D/Product as well as customer experience initiatives,” said Santosh Iyer, MD & CEO of Mercedes-Benz India.
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Moneycontrol earlier reported that nearly one year after its launch, CXOs of Indian start-ups are using ChatGPT-like Generative artificial intelligence (AI) for expediting idea generation to automate repetitive tasks and save operating costs.
Similarly, in banking bellwethers, AI is causing a cultural shift towards tech-savvy, adaptable professionals to emerge and reshape the traditional hierarchical structures. AI facilitates personalised client solutions through data analysis, enhancing service delivery.
For instance, JPMorgan Chase has over 900 data scientists, 600 machine learning engineers and about 1,000 people involved in data management. It also has a 200-person AI research team looking at the problems in the new frontiers of finance.
“In the retail space, AI is helping us offer more personalised products and experiences to our customers, such as credit card upgrades. And collectively, this work has delivered over $220 million in benefit in the last year alone,” said JPMorgan Chase & Co’s Global CIO Lori Beer on Investor Day.
The banking firm has spent over $2 billion building new, cloud-based data centres and is working to modernise a portion of its applications to run in both public and private cloud environments.
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“To date, we have migrated approximately 38 percent of our applications to the cloud, meaning over 50 percent of our application portfolio (this includes third-party, cloud-based applications) is running on modern environments,” said Chairman Jamie Dimon in his annual letter to shareholders.
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