The pandemic has exposed the gaps and shortcomings in analytics and AI/ML models for the Indian organisations.
The COVID-19 pandemic has been driving demand for intelligence technologies to enable new ways of working, reports IDC FutureScape: Worldwide Future of Intelligence 2021 Predictions – India Implications that contextualizes Future of Intelligence predictions for 2021.
Leaning on data to understand the insights into business operations, products and services, experiences, and ecosystems is among the top priorities for organisations in India.
“The pandemic has exposed the gaps and shortcomings in analytics and AI/ML models for the Indian organisations. Traditional models based on historic data alone for future decisions are obsolete. Businesses now need to focus on a new framework for decision environments that enables real-time data capture, lower processing times, and accelerates business outcomes, to improve resiliency,” said Rishu Sharma, principal analyst cloud and AI at IDC India.
IDC defines Future of intelligence as an organization’s capacity to learn, combined with its ability to synthesize the information it needs in order to learn and to apply the resulting insights at scale. With the proliferation of data, it is critical to transform data into insights, to achieve the full potential of value realization. As a key priority for CXOs in the digital economy IDC believes that the Future of Intelligence will become pivotal for organizations in India as they look to gain insights through a data-driven culture, enabling them to better transform their data into insights. Adoption of intelligent technologies such as AI, analytics, and data management will become paramount for organizations in the new normal, both for internal and external processes.
Some of the key Future of Intelligence (FoI) predictions that would impact the technology buyers and suppliers in India in 2021 and beyond are:
- Decision Environments: By 2021, external shocks and resulting uncertainty will drive 25 per cent of India 1000 companies to discard existing decision models and focus on a new framework for decision environments to improve resiliency.
- Collective Intelligence: By 2025, the need to harness collective intelligence of humans, machines at the edge, and endpoint devices will drive 15 per cent of India 1000 companies to invest in swarm intelligence solutions.
- Flexible Resources: By 2024, as 50 per cent of India 1000 companies will embrace flexible data science and engineering talent sources, four-fifths will struggle with visibility into and governance of processes and behavior of these external resources.
“As Indian organisations move towards digitization, the adoption of cognitive capabilities for multiple business processes would pick up the pace and discover new opportunity areas for organizations. Artificial intelligence will have a significant impact on enterprise technology adoption curve as organizations look to process huge data volumes in real-time and stay resilient in uncertain market conditions,” said Swapnil Shende, senior market analyst artificial intelligence at IDC India.
