In less than a year since the advent of generative AI, LLMs have taken the enterprises by storm. It has immense possibilities. IT firms have infused AI into most of its operations. In code development, engineers use GPT, say at the stage code analysis, code migration, documentation and code’s automatic testing. AI has been incorporated into management systems. It has been integrated to project delivery. AI improves project delivery by 20-35 per cent.
In many projects, Co-pilot is being used — AI that is used in code development.
There are industry specific LLMs now. There is work-in-progress for healthcare LLM and LLM for production operations. Companies would like to have products which are AI-assisted. Education is another sector which could have its own LLM.
Microsoft has developed Nuance with ambient documentation for doctors. A doctor can get his speech transcribed by speaking on mic. It can create a medical record using Gen AI by summarizing what the doctor has to say. The transcribed data goes into record . It saves both time and costs. It improves a doctors productivity — he can attend to more patients in a day.
It is not necessary always to create a company specific LLM. A company can get a pre-trained model, say LLM of OpenAI. They can feed their own data into this LLM to customize it to their own needs.
AI has been used in radiology. It can detect anomaly in X-ray images. Its accuracy is high. LLMs can explain what a medical scan means in plain language, avoiding medical jargon.
Doctors can seek second medical opinion on diseases prevalent in the area they work in. AI can create synthetic images of impaired Covid-infected lungs. Doctors can distinguish between pneumonia infected and lower respiratory tract infected lungs and Covid infected lungs.
The concept of AI will be extensively used in different business models in near future.
Manpower working in this field must have tech knowledge plus domain knowledge. The idea is to apply tech to a problem on hand.
Startups and amateurs have a chance to use their talents to compete with the Goliaths in this area. A small firm has the capability to disrupt a big company.
Gen AI will make our lives better. There is need for innovation. If you do not, you may be left behind. Gen AI has become a pervasive force.
Indian IT firms rely upon new tech spends by global retailers. They are likely to get more deals from the US and Europe-based retail players. Walmart, Home Depot, Carrefour and Target have scaled up spending on digital technologies and generative AI. Generative AI is used to enhance shopping, making it easier and more convenient for customers.
Larger retailers are exploring the use of AI and LLMs for predictive analytics. Generative AI solutions such as Topaz by Infosys are being offered to the clients.
Indian IT firms get about 12-18% of their revenue from retail verticals.