Elastic announced the findings from its new study, The Elastic Generative AI Report: One Year On, Identifying the Impact and Challenges of Early Generative AI Implementation Worldwide. The report reveals that India appears to be the furthest ahead in adopting generative AI (GenAI) technologies, with 81% of respondents’ organisations in India already implementing the technology.
“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.”
Alongside insights into how IT leaders expect to use GenAI to drive customer experience and operational efficiencies, respondents also highlighted their challenges and concerns about adopting the technology, including siloed data ecosystems that continue to expand in size and complexity, complicating security, visibility, and real-time analysis of data needed for GenAI.
Key Findings
1. There’s high enthusiasm for GenAI In India across regions and industries, but key concerns amongst India’s decision-makers stifle operationalisation strategies
– 81% of respondents in India indicate their organisation is already implementing GenAI, reflecting a commitment to leverage new technologies to drive innovation and gain a competitive advantage in the global market.
– Despite the enthusiasm for GenAI, organisations in India face notable adoption challenges, particularly concerning data management and security. As many as 99% 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.
– Accessibility and accuracy remain pivotal, with 93% highlighting challenges in search capabilities, reinforcing the need for enhanced data accessibility and analysis tools.
2. Indian organisations believe that GenAI can make them more productive.
GenAI holds immense promise in augmenting organisational productivity, with 73% of respondents in India affirming that conversational data search capabilities would significantly enhance operational efficiency. As the country is further in its adoption and, therefore, most familiar with the opportunities GenAI affords, their experience underlines how powerful this search function can be.
A notable 49% anticipate potential time savings of two or more days per week per employee through streamlined data search functionalities, underscoring GenAI’s transformative impact on workflow efficiency and resource optimisation.
3. India understands the potential and is all set to make significant investments in GenAI in the near future.
The report reveals optimistic investment trends, with 94% of respondents in India anticipating increased budget allocations towards GenAI initiatives within the next 12-24 months.
For the next 24-36 months, 93% of respondents in India expect the investment trend to continue and anticipate an increase in the budget allocation.
The report was produced in conjunction with independent market research specialist Vanson Bourne and solicited 3,200 IT decision makers and decision influencers across the U.S., Europe, and Asia-Pacific from more than a dozen sectors, including telecommunications, public service, retail, and financial services. In the Asia Pacific and Japan region 1,200 IT decision-makers and influencers were surveyed of which 300 respondents were from India.