AI in India 2024: Navigating Skepticism to Integration

AI is not merely a buzzword but an evolving force poised to become an integral part of our daily lives, seamlessly blending into the fabric of marketing strategies and consumer interactions. As the buzz around Artificial Intelligence (AI) continues to permeate discussions, industry stalwarts recently engaged in a dynamic conversation at the 18th edition of the Marketing Whitebook Summit which took place on 30 November, 2023 at Aloft Aerocity, New Delhi - it delved into the challenges, strategies, and future expectations surrounding AI in India. The session was moderated by Resham Suhail, Editorial Lead, BW Disrupt.

The integration of AI in marketing and other sectors prompts questions about the future of traditional job roles. Addressing the pertinent concern of the potential impact of AI on job security Rahul Talwar, Chief Marketing Officer, Max Life Insurance opened the conversation by emphasising the need for upskilling the workforce, making them 'prompt engineers' and converting outsourced workstreams to insource. "We are trying to convert a lot of outsourced workstreams to insource. It saves costs and upskills the entire function in the process," said Talwar. 

Contributing to the dialogue Ruchika Gupta, Marketing Director, Beam Suntory India shed light on the challenges of achieving personalisation without intrusion. As the usage of AI increases, striking the right balance between delivering personalised content and respecting privacy becomes crucial. "The challenge is to navigate the delicate balance between personalisation without intrusion. How much is too much?" exclaimed Ruchika.

Furthering the conversation, Sushmita Nag, Chief Marketing Officer, Fenesta Building Systems shared insights from her industry, emphasising the need to navigate the delicate balance between personalisation and intrusion. “AI is a silent force, integrated into our lives. It will become invisible again, ruling our lives and decisions,” said Nag.

Building Trust through Transparency:

The conversation delved into the significance of transparency and authenticity, which are crucial for building trust in an era dominated by AI. Talwar stressed the importance of engaging Gen Z through authenticity, creating a dialogue rather than a monologue. "Gen Z is all about relevance. Whatever is relevant would be a part of their life and conversations," he emphasised. The panellists unanimously agreed on the necessity of transparency in data usage. Gupta stressed upon disclosure and consent, stating that customers should be aware of how their data is being used. "Transparency is crucial. Customers should be aware of how their data is being used, and consent should be regularly refreshed," she insisted.

AI's Role in Experience Enhancement: 

AI is not just about algorithms but also about elevating customer experience.  Talwar pointed out that experience, especially in long-term commitments like insurance, plays a pivotal role. Leveraging AI to enhance customer experience can significantly contribute to brand loyalty. "For us, experience is the other part that adds back to content. It plays a pivotal role in long-term commitments like insurance," shared Talwar. 

Future Expectations:

Discussing the future of AI in India, industry experts forecasted increased acceptance and integration. Talwar predicted advancements in sectors like education, harnessing AI's power for personalised learning experiences. "Education is very personal. AI can create more education absorption, leveraging our demographic dividend," Talwar added. Nag highlighted the emergence of solutions in combating issues like fake videos. Additionally, with 2024 being an election year, AI engines are expected to play a substantial role in engaging citizens and consumers alike. "There'll be more solutions around fake videos. In 2024, with elections, AI engines will play a huge role in engaging citizens and consumers," she anticipated. 

As the BW Marketing Whitebook Summit 2023 concluded, the panellists provided valuable insights highlighting the evolving nature of AI in India. From addressing skepticism to envisioning a future where AI seamlessly integrates into daily life, The summit served as a pivotal platform for these thought leaders to delve into the nuanced facets of AI, shaping the narrative for the future.