AI Alliance Pune: How AI is increasing productivity for SaaS companies

CNBC-TV18-Moneycontrol AI Alliance Pune

Integration of Artificial intelligence (AI) within software-as-as-service (SaaS) companies have brought improvements in productivity, workflow, and also has the potential to change human-computer interaction, according to panelists at the CNBC-TV18-Moneycontrol AI Alliance event held in Pune on March 27.

In a panel discussion on building intelligent enterprises and how SaaS can unleash the power of AI, moderated by deputy executive editor of Moneycontrol, Chandra R Srikanth, the impact of AI on the SaaS industry and its ability to change human behaviour was touched upon.

Krishna Gopal Depura, cofounder and CEO of MindTickle, said the current transformation being seen because of AI can be compared to the days when electricity was introduced. Depura said just as electricity revolutionised various facets of human life, AI is poised to fundamentally alter how businesses operate. “I personally feel like the entire interfaces will go away, because you will not need any UI (user interface),” Depura said.

He further said that in two-three years, workflows will remain same but software development will completely change.

Monish Darda, Cofounder and CTO, Icertis, echoed Depura's sentiments, emphasising that the disruptive potential of AI surpasses any previous technological advancements. He drew attention to the unprecedented efficiency gains achievable through AI, with up to 40-50%. “Where people were thinking automation would do 5-6 percent in efficiency… now you can actually think of 40-50 percent,” Darda said.

Darda said AI and Generative AI have the power to overcome language barriers and altering human behavior across generations. He gave the example of his eighty-year-old mother,who uses ChatGPT to compose WhatsApp messages daily.

Milind Borate, cofounder and chief development officer, Druva, reflected on the rapid evolution of technology, underscored AI's pervasive influence on everyday experiences.

“I believe AI has already impacted us and in a massive… the tech is moving so fast,” Borate said.

When asked on whether AI would take away jobs, Borate shrugged of concerns that it will take away the jobs of software engineers. Nonetheless, he said the nascent technology is at its infancy and it remains to be seen the level of disruption that it can cause.

“I don't know how much time it will take but in a way that's like the social aspect of it also, maybe 5-10-15-20 years. But yeah, we do see AI kind of being able to do something like end-to-end,” Borate added.

Drawing parallels to past disruptions caused by computers, the internet, and mobile technology, Borate emphasized AI's status as the next frontier of innovation. He pointed to applications such as Google Maps and real-time language translation through Bhashini as evidence of AI's pervasive impact.