At least 84 per cent of Indian consumers stated that they were most likely to purchase from a business that incorporates Generative AI (GenAI), as compared to the global average of 83 per cent of respondents, according to a report by Thoughtworks, a global technology consultancy.
There are equal amounts of anticipation and apprehension amongst Indian customers about GenAI. A substantial majority of Indian respondents, totaling 69 per cent, expressed considerable excitement regarding GenAI, in contrast to the 30 per cent global average who shared the same enthusiasm for GenAI.
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Businesses have a social licence to operate GenAI in India. Among the global respondents surveyed, a notable 91 per cent are of the opinion that businesses should sustain their swift GenAI innovation efforts while awaiting the development of effective government regulations, a contrast to the 68 per cent of respondents worldwide who share this perspective
In India, 68 per cent of respondents believe that it is important for businesses to take active precautions to protect their customers when incorporating GenAI, and 96 per cent of Indian respondents agreed that it is important for businesses to find a balance between using Gen AI to drive innovation and ensuring its responsible use.
Mike Mason, Chief AI officer, Thoughtworks, said, “In a world where trust is paramount, businesses must understand that gaining the public’s confidence through ethical AI is not just a regulatory obligation, it’s a strategic advantage. For decades, Thoughtworks has advised our clients on how to tap into the full advantage of the latest emerging technology while also building responsible governance into business processes to protect customers’ trust.”
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A majority agree that regulation in India is necessary for the responsible use of GenAI. People recognize the need for GenAI regulation, with governments playing a vital role in its design, development and deployment. The vast majority (95 per cent) agree government regulations are necessary to hold businesses accountable for how they use GenAI.
Transparency in GenAI usage is crucial for businesses, with 94 per cent of consumers in India preferring companies that prioritize transparency and equity in GenAI utilization, compared to a global average of 68 per cent, said the report.
Published on October 4, 2023
