Generative AI impact on industries – Business

Generative artificial intelligence’s impact is becoming increasingly significant, as highlighted in a recent Capgemini Research Institute report, where nearly all executives acknowledged its importance in boardroom discussions.

Capgemini is investing $2 billion in generative AI, doubling its capacity of data and AI experts globally, focusing on value-based solutions and co-developing with partners like MongoDB Inc., according to Ashvin Parmar (pictured), vice president of Capgemini Financial Services Generative AI Center of Excellence. AI and automation will add value by allowing talent to focus on creative and value-generating tasks, increasing productivity and efficiency.

“I think AI and generative AI will actually add value,” he said. “It will allow the talent to focus on the things that can be more creative, and generate value as opposed to doing the mundane routine task, which can then be outsourced and augmented with AI and generative AI. We are not saying it’s adversely impacting in terms of our business or our client’s business. It will increase the throughput, it will increase productivity and efficiency, and it will help us transform some of the inefficient business processes.”

Ashvin Parmar, VP of Capgemini Financial Services Generative AI Center of Excellence, talks to theCUBE about the company’s investment in AI and generative AI.

Parmar spoke with theCUBE Research’s chief analyst Dave Vellante at the MongoDB.local NYC event, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how Capgemini is heavily investing in AI and generative AI, focusing on value-based solutions and co-developing with partners such as MongoDB. (* Disclosure below.)

Exploring the transformative generative AI impact on business

AI and generative AI use cases can be viewed in two dimensions — value and operational efficiency — with the ability to apply AI and gen AI in expert augmentation or autonomous operation.

Organizations are hesitant to move data to the cloud and want to bring AI to their on-premises and cloud data, according to Parmar. Clients have varying levels of comfort with cloud and AI adoption, with some preferring on-prem deployment due to concerns about data and IP leakage, with a recommendation to have a human in the loop for strong governance.

“We have been working with MongoDB for quite some time, primarily on the data modernization type of programs,” Parmar said. “But over the last year or so, since the generative AI became all the rage, we have developed a number of industry-focused solutions which are built on top of the MongoDB.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of the MongoDB.local NYC event:

(* Disclosure: TheCUBE is a paid media partner for the MongoDB.local NYC event. Neither MongoDB Inc., the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE