Global Capability Centres in India to lease 60-62M sqft space by 2025, says CBRE
Here is your daily dose of key developments from the technology world of India.
GCCs to lease 60-62 million square feet space in India: CBRE
Real estate consulting firm CBRE South Asia said the global capability centres (GCCs) in India are likely to lease office space of around 60-62 million square feet of space between 2023 and 2025.
In a report titled 'India’s Global Capability Centres-charting a new technology era', CBRE said sectors including technology, BFSI, and engineering and manufacturing will lead leasing activity, while sectors such as life sciences, automobiles, and aviation will also expand their GCC operations in India.
Cementing the long-term intent of global corporates in India, GCCs are now leasing larger offices with the potential to scale up in the future. North American firms continue to be the mainstay of GCCs in India. Availability and cost of talent, real estate, and supporting regulatory framework aid GCC expansion in India.
By 2025, it is estimated that there will be ~1,900 total operational GCCs in the country from the existing ~1580. During this period, GCC leasing activity is expected to account for 35-40% of the overall office leasing.
AI readiness of Indian enterprises remains low, says Cisco survey
A study done by global technology company Cisco on the readiness of Indian enterprises to adopt artificial intelligence-powered technologies has said only 26% of organisations in India are fully prepared to deploy and leverage these new platforms.
Cisco’s inaugural AI Readiness Index which surveyed over 8,000 global companies, was developed in response to the accelerating adoption of AI, a generational shift that is impacting almost every area of business and daily life. The report highlights companies’ preparedness to utilise and deploy AI, showcasing critical gaps across key business pillars and infrastructures that pose serious risks for the near future.
The findings from the index revealed that companies in India are taking many proactive measures to prepare for an AI-centric future. When it came to building AI strategies, 95% of organisations already have a robust AI strategy in place or are in the process of developing one. More than eight in 10 (86%) organisations are classified as either Pacesetters or Chasers (fully/partially prepared), with only 1% falling into the category of Laggards (not prepared), which indicates a significant level of focus by C-Suite executives and IT leadership.
NetApp renews collaboration with Microsoft
Enterprise software company NetApp has renewed its collaboration with Microsoft. According to a statement, NetApp delivers innovations to Microsoft Azure users that bring together solutions for cloud storage with Azure NetApp Files (ANF) NetApp BlueXP, and Cloud Volumes ONTAP and now CloudOps solutions from Spot by NetApp—all based on NetApp and Microsoft technologies.
ANF is a purpose-built storage solution for the public cloud designed for all enterprise file workloads, delivering performance and data management capabilities previously expected from on-premises environments. NetApp has made significant investments in its Spot by NetApp portfolio for CloudOps on Azure to bring new solutions to the market.
“Through our collaboration with Microsoft, we can deliver market-leading cloud storage and cloud infrastructure operations to our customers and partners that nobody else in the industry offers,” said Ronen Schwartz, Senior Vice President and General Manager, Cloud Storage, NetApp.
MoEngage partners with Tanishq
MoEngage, a customer engagement technology platform, has announced that Tanishq, the jewellery brand by Titan Company Ltd, has optimised its customer journeys by providing bespoke digital shopping experiences.
According to a statement, in the last 12 months, MoEngage has helped Tanishq replicate its offline success by increasing app retention rates by 25%. To tap into the pool of prospects browsing the website or app and convert them into customers, the Tanishq team deployed lead-gen campaigns through MoEngage’s Onsite Messaging (or OSM) feature. The campaigns had high-intent CTAs powered by highly contextual communications and saw a 7.2% clickthrough rate with a 5% fill rate.
New Relic’s AI platform on AWS
New Relic, a cloud-based observability technology company, has its AI Monitoring (AIM), an application monitoring solution for AI-powered applications, now integrated with Amazon Bedrock, a fully managed service by Amazon Web Services (AWS).
A statement said AWS customers can now use New Relic to gain greater visibility and insights across the AI stack, making it easier to troubleshoot and optimize their applications for performance, quality, and cost.
AIM integrates with Amazon Bedrock to provide in-depth end-to-end observability. With AIM’s built-in integrations such as Langchain, Amazon Bedrock customers can get metrics and tracing throughout the life-cycle of LLM prompt and response, ranging from raw prompts to repaired and business-compliant responses.
Edited by Kanishk Singh
