Oracle India head Shailender Kumar has said Indian firms are witnessing the benefits after &nbsp;transitioning from testing <a href="https://www.mid-day.com/business/business-news/article/anand-mahindra-dismisses-concerns-on-artificial-intelligence-views-it-as-growth-catalyst-23640373" target="_blank" rel="none noopener">artificial intelligence (AI)</a> in pilot projects to full scale deployment, according to news agency PTI.
He, however flagged cost, skills and infrastructure as some of the challenges that could impact the AI adoption in the country.
"Around a year and a half back, we were talking about pilots. Now, we are seeing full-scale productions and the productions where the benefits are very, very real," Kumar, Senior Vice President and regional Managing Director, Oracle India and NetSuite JAPAC, told PTI.
<h2>Companies want proof before adopting technology</h2>
He said that while Indian companies are open to new technology but want evidence of their effectiveness before adopting it.&nbsp;
"What they want to see is what will come to them: whether they save time, cost or anything else. Years back, there were a lot of reservations because people were not sure in terms of security, in terms of performance," he said.
Kumar said once the tangible benefits become visible, Indian firms will accelerate their technology adoption.
"People are willing to take the plunge as long as they see the benefit," he said.
<h2>Challenges for AI adoption</h2>
He pointed out that higher cost is "certainly one of them (reasons)" that could slow <a href="https://www.mid-day.com/lifestyle/culture/article/millennials-lead-ai-shopping-adoption-in-india-at-81-per-cent-ahead-of-gen-z-survey-23658061" target="_blank" rel="none noopener">AI adoption in India</a>.
While infrastructure poses a "challenge", the emergence of new data centres in the country is likely to address this issue, he said.
For skill development, Kumar said Oracle was working with universities, colleges and state governments to train students, including at industrial training institutes (ITIs) and polytechnics.
<h2>Governance critical for AI</h2>
<a href="https://www.mid-day.com/business/business-news/article/cert-in-warns-bfsi-sector-of-ai-assisted-unauthorised-fund-transfer-cyberattacks-23658599" target="_blank" rel="none noopener">Amid growing concerns around AI</a>, he said, "When talking about AI, governance is the most important part".&nbsp;
He further said organisations need to evaluate whether AI is producing the right outcomes and was being used the way it was intended to be, and said regulation would also evolve.
"In terms of regulation, yes, there will be changes. We will see things building up as the industry also matures," he said, pointing to incidents of AI models going rogue.
<h2>Growth in India</h2>
The IT company Oracle has grown at a double-digit rate in India for about 10 years, Kumar said, with banking being the company's biggest sector, followed by the public sector.
Kumar said the priority is to accelerate the growth over the next three to five years to tap the market potential.&nbsp;
"I want to ensure that the business grows faster than what it's growing today because the market has that potential," he said, adding "India is on a very, very right track."&nbsp;
"There are a few things that we cannot control; the geopolitical things keep happening. But otherwise, from a country's standpoint, we are very well placed," Kumar said.&nbsp;
(With inputs from PTI)

Indian companies are not wary of technology but want proof that it actually works before adopting it

Oracle flags cost, skill, infrastructure as challenges to AI adoption in India

Hindustan Coca-Cola Holdings files DRHP with SEBI for IPO

Indian companies are open to new technology but want evidence of their effectiveness before adopting it and once the tangible benefits become visible, Indian firms will accelerate their technology adoption

Oracle India head says India on right track in AI; flags key challenges to AI adoption

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Business / Business News / Article / Oracle India head says India on right track in AI; flags key challenges to AI adoption