According to a survey by India consulting firm EY India, the growing use of generative artificial intelligence (Genai) could boost productivity in India’s $254 billion software industry by 43%-45% over the next five years.
EY India’s survey pointed out that this productivity gain will span 500 roles, it will integrate the elements of Genai internally through the dual effects of the IT industry itself, and as more and more client projects transform from proof of concept to Production.
Top IT companies such as TATA Consulting Services and Infosys highlighted the use of customers using AI for new projects, and EY India said 89% of them have already begun trialing the Genai project, and 33% of them are already in production.
“Enterprises are moving beyond experiments to enable AI to be produced on a large scale,” said Abhinav Johnri, a technology consulting partner at EY India.
In the vast IT industry, EY India survey shows that roles in software development will achieve the greatest productivity gains, at about 60%, followed by 52% increase in BPO services and 47% of IT consulting.
The survey shows that the trio – software development, BPO services and their consulting – will account for 50%-60% of the overall productivity increase in technical services.
According to executives surveyed by EY India, the growing use of AI can not only help the IT industry enhance customer service, but is also reducing costs and increasing revenue growth.
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