Generative AI Becoming a Gamechanger for GCCs in India

We have often witnessed the rise of machines led by large corporations in science fiction movies. But Artificial Intelligence is not in the realms of imagination anymore or in our possible future. It is our present and is energizing the way we live and work today, in different ways.

And the charge is being led by large corporations with the resources to maintain the data centers that will bring us to AGI or super intelligence in the future. India is becoming the hub of AI development with renewed interest displayed by several GCCs, thanks to the favorable economic and political climate in India.

Accelerated Use of AI by GCCs in India

Nearly 70% of GCCs have already implemented and accelerated the use of Generative AI in their processes, according to the EY India GCC Pulse Survey 2024. The survey also added that 78% of the GCCs are training their teams in the use of Generative AI, and 37% are already piloting use cases, highlighting a shift to more practical applications of AI.

Securing the Cyberspace for Everyone

Many GCCs in India are now using AI to streamline their operations and to introduce new applications for their customers. Enter the realm of cybersecurity and the applications of AI are indeed helping many companies deal with problems posed by hackers in much better ways than before. GCCs like Sun Life Global Solutions are using facial analytics to identify cybersecurity threats and rule them out before they become a problem.

Financial Advice Just Around the Corner

The financial world isn’t short of AI wonders either. JP Morgan and other financial companies are leveraging Generative AI chatbots as research analysts within their Indian GCCs for better financial understanding, helping financial advisers. Generative AI will help save hours and hours of research, allowing research analysts to focus on what matters most, verifying and authorizing the information.

E-commerce Shopping Experience Redefined

The world of e-commerce is being affected by AI too and GCCs in India are responding to the trend. Amazon is making great strides in the AI arena as well. Amazon India’s GCC is working on building better generative AI-based chatbots that offer personalized support to the customer. Their efforts in offering a better experience to the customer through AI are also being bolstered by their nearly $12 billion investment planned in the cloud.

Banking Has Never Been This Easy

If there is any other sector that has benefited equally, it is the banking sector, both in the realm of cybersecurity for threat detection and in providing customer-first services. An example of this is how HSBC's GCC in India uses AI to detect issues and recommend solutions to their banking customers in very little time. This is a significant breakthrough as far as banking is concerned as it can help banking officers navigate highly complex scenarios without stressing their customers.

Code to Low-Code to No-Code

There are other applications too for AI. AI has improved the performance of coding teams remarkably and helped other teams that have often needed a developer as well. For instance, several GCCs are now using AI to figure out ways to help reuse code and save hours and hours of development time. According to a PwC report, there are also no-code AI solutions being developed by GCCs which could help marketing teams become a lot more productive.

A Champion for the Earth

AI is a champion for the Earth as well. Today AI minimizes carbon emissions by suggesting ways to develop sustainable approaches to solving a problem. Few GCCs in India are working towards sustainable alternatives and cooperating in community initiatives. This was highlighted in a Deloitte report as early as September 2023 itself.

Where Will the GCC revolution in India Take Us?

There is more than enough reason to believe that by the turn of this decade a lot of jobs will be impacted by AI. While it may render a few roles obsolete, by and large it will support the growth of newer roles, which require training in the use of AI and especially in engineering prompts for AI, particularly poplar offerings like Google’s Gemini or OpenAI’s ChatGPT.

Apart from the developments in GCCs in India, many companies are collaborating with these AI powerhouses to create solutions that will impact healthcare, town planning, e-commerce and on a larger scale the environment too. India and the world can count on such research to help bolster the economy and give rise to several AI startups in the future through knowledge sharing. This will be key to the growth of AI in the future.?