AI Unleashes True Potential Of Businesses

In business, the ultimate aim is to thrive, make money, and stay ahead of time. And to accelerate this growth and boost human potential, marketers tightly shook hands with artificial intelligence a few years ago. Though still in its initial years, AI is seen revolutionising sectors, providing never-seen-before experiences for businesses and their leaders.

Echoing the thoughts, Salil Kapoor, CEO, Hindware Home Innovation, reiterated that AI is different from what people perceived it to be earlier, and that global developments testify it’s truly transformational as a force. Kapoor added that there are many new AI tools coming up, but using them in daily business activities is yet to happen.

Further, commenting on AI being a jaggernaut for the business community, Sanjay Bhutani, Managing Director - India & SAARC, Bausch & Lomb India asserted that the business world is closely monitoring the advent of AI, which is still evolving in its utilisation.

Defining AI as the intelligence of machines, Kapoor stated, “A broader implementation of these capabilities already exists to some extent through data analysis, data mining, and productive analysis. It’s gradually improving, and the real evolved tools that will do it at scale with much higher speed are yet to be employed.”

He also mentioned that AI's presence is already evident, to some extent, in the segment of understanding and predicting consumer behaviour.

Both business leaders further highlighted that AI initially wasn't a widely discussed topic, but now it has taken a structured form through various tools. Currently, they are exploring different applications of AI in their respective organisations.

In terms of AI benefiting marketing in the era of Gen Z, a generation that is always online, it presents a significant opportunity for marketers to effectively communicate the core message of their brands.

Further touching upon the topic of deep fakes, the leaders emphasised that opportunities and threats need to be tackled with the right tools and technology.

*The industry veterans were present at the 18th edition of he BW Marketing Whitebook Summit 2023 in Delhi.