TMT CEOs acknowledge disruptive impact of GenAI

Around 58% of C-suite executives in the Indian technology, media and telecom (TMT) industry have acknowledged that GenAI is a long term disruptor with transformative potential. Around 65% of TMT companies have rolled out at least one GenAI application, with nearly half of them having devised a comprehensive roadmap for GenAI implementation. The findings were revealed in a PwC report titled “GenAI in TMT: From concept to reality. 

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The technology, media and telecom (TMT) sector is already beginning to recognise the potential impact of GenAI as a recent study by ProicewaterhouseCoopers India (PwC) reveals. Around 58% of industry respondents in the report, titled “GenAI in TMT: From concept to reality” agree that GenAI is a long term disruptor with transformative potential.

Furthermore, around 42% of TMT CEOs place GenAI among their top three priorities. CEOs in the technology sector expect much greater disruption as 68% of them believe in its transformative impact, followed by media and entertainment at 51% and telecom at 40%.

Manpreet Singh Ahuja, TMT Sector Leader and Chief Digital Officer at PwC India commented, “Gen AI is rapidly revolutionising the TMT sector, with each industry finding unique applications for the technology. In the technology sector, Gen AI is driving product development and system integration, with 80% of companies already leveraging AI solutions. Media and entertainment firms are focusing on content generation and are using Gen AI to create audio, video and text, with significant implementations expected within a year, while telecom companies are utilising Gen AI for real-time operational support, including automated fault detection and AI-powered digital assistance.”

In addition, the survey revealed that around 65% of TMT companies have rolled out at least one GenAI application, with nearly half of them having devised a comprehensive roadmap for GenAI implementation. Around 40% of them are already seeing benefits of their GenAI initiatives and are on course to get the expected RoI. However, they have also expressed concerns regarding control, safety and accountability.