NTT Data sees AI creating new market opportunities
NTT DATA sees Indian enterprises adopting AI platforms as it is delivering outcomes in terms of lowered costs and improved customer experience that leads to better business
NTT Data, the Tokyo headquartered global technology company, sees artificial intelligence (AI) opening up newer market opportunities for them as this technology platform has started to deliver real outcomes.
The company has already a target of becoming an AI native company in three years' time with 50% of its solutions and services infused with this technology. It also sees AI performing the majority of the activity across its functions like legal, finance, HR etc.
In an interaction with EnterpriseStory, Amir Durrani, Global Head - Applications and Business Process Services, NTT DATA said, “The value of AI is really around business outcomes and this is driving the adoption.”
He further explained that the phase of experimenting with AI is over and enterprises are looking at how this can be integrated in their business functions.
Avinash Joshi (left) - Executive Managing Director, India, NTT Data and Amir Durrani, Global Head, Applications and Business Process Services, NTT DATA
NTT DATA, Neysa ink MoU with Telangana govt to set up Rs 10,500 Cr AI data centre cluster
The approach that NTT Data is taking in its AI engagement with enterprises is primarily two-fold. Firstly, it looks at which processes in a business can be augmented through AI and secondly, it sees how this can be entirely reimagined through native AI technologies.
Durrani remarked that despite reports about the low success rate of AI there is no slowdown in the integration of this technology as the impact is now real. The impact being felt across functions like customer service, legal, HR etc.
Avinash Joshi, Executive Managing Director – India, NTT DATA said there is greater awareness that AI proof of concept (PoC) will not deliver value unless the business thinks through it end-to-end.
“Until one really has a very robust data strategy underlying AI they will not be able to get RoI out of it,” Joshi said.
The big change that AI has brought about is the manner in which data is handled. Today, this technology platform can process both structured and unstructured information to gain valuable insights. For example, sentiment analysis can be garnered from structured and unstructured data.
NTT Data is also bringing about an AI change internally where not its service lines are powered by this technology and has set aggressive targets for training its employees on AI.
“This provides us an opportunity to gain market share and there is a bigger pie to go after due to disruptive AI solutions,” said Durrani.
Joshi also added that NTT Data has also created a tool where it can provide an assessment on the AI maturity level of enterprises.
On the adoption of AI by Indian enterprises, Joshi said businesses in the country are going beyond PoCs and getting into substantial activity. He further added that enterprises are realising that benefits go beyond just lower costs as it is leading to improvement in customer experiences which leads to higher revenues.
Durrani said the combination of cost reduction and having real business outcomes has made AI a disruptive technology.
The sectors that are the early adopters of AI for NTT Data in India are led by banking, financial services & insurance and life sciences.
“There is co-creation of the AI solutions as this is not just a single dimensional approach and a complete understanding of the business processes,” said Joshi.
NTT Data sees the impact of AI getting both deeper and wider.
“We have now migrated from embedded AI into native AI solutions and it is a hybrid environment combining domain and technology,” Durrani said.