India leads in GenAI adoption, investment trends likely to rise in coming years: report

India leads globally in adopting GenAI technologies as a vast percentage of organisations incorporate GenAI in operations, and a majority of the populace expects increased investments and budget allocations towards Gen AI in the next 2-3 years, according to a recent report. Search analytics firm Elastic on Monday released the Generative AI Report that gathered insights from 3,200 IT decision-makers and influencers across sectors in the US, Europe, and Asia-Pacific. In the Asia Pacific and Japan region, 1,200 were surveyed, including 300 from India.

According to the report, 81 per cent of Indian organisations have already implemented GenAI, making India the leader in adopting generative artificial intelligence technologies.

The study also predicted promising investment trends in near future, with about 94 per cent of respondents anticipating increased investments and budget allocations towards GenAI initiatives in the next 2-3 years.

However, almost all of the respondents expressed concerns about processing and using their data.

“As many as 99 per cent of respondents expressed concerns about processing and using their data, highlighting the need for organisations to work with GenAI providers who can help safeguard sensitive information. The report further observed that 73 per cent of respondents in India were confident that conversational data search capabilities would significantly enhance operational efficiency.

“The disruptive potential of GenAI has captured the imaginations and budgets of India’s IT and data leaders, as seen by India’s lead in GenAI adoption,” said Karthik Rajaram, area vice president and general manager, India, Elastic.

“However, while the commitment of many organisations to quickly harness the transformative opportunity of GenAI to drive innovation and efficiency is exciting, it’s businesses that adopt search-powered GenAI grounded by business context that will lead and uncover the insights needed to securely innovate, build more efficient businesses, and pioneer new customer experiences.”