Generative AI has proven to be a game-changer in terms of productivity gains across various sectors, according to Srikanth Vellamakani, co-founder and vice chairman of Fractal Analytics. This breakthrough technology has particularly impacted the coding field, with productivity gains exceeding 50 percent. However, while this presents opportunities for increased efficiency, it also poses a potential threat to the Indian IT sector, as reliance on human coders may decrease.
Vellamakani expressed these views during Motilal Oswal’s Global Investor conference. He highlighted that in the coming decades, artificial intelligence (AI) is expected to fill the gap left by decreasing human labor contributions to overall growth. He emphasized that proficiency in English could potentially become the only necessary skill, as AI advances enable efficient data input without the need for programming languages like Java or C++.
As a result of this shift, the Motilal Oswal Report suggests that technology spending from corporates may reallocate from IT services to other areas better suited for AI-based business environments. This trend could have far-reaching consequences for the IT sector and necessitate the development of new skill sets.
Not only has the impact of AI been felt in India, but it has also been recognized globally. Italy, for instance, temporarily banned the use of Chat GPT, a generative AI model, which resulted in a 50 percent decrease in coding productivity. This demonstrates the significance of AI’s role in the coding workforce.
The deployment of AI worldwide encompasses three main types: supervised, unsupervised, and reinforced learning. Open AI, a prominent player in the field, combined supervised and unsupervised AI to create a “self-supervised” model.
While Generative AI offers immense potential for increased productivity, its transformative effects also raise concerns regarding employment and the need for upskilling to adapt to the changing technological landscape.
Sources:
– Fractal Analytics co-founder and vice chairman Srikanth Vellamakani
– Motilal Oswal’s Global Investor conference
– Motilal Oswal report on AI-led corporate environment
– AI companies in India: Tata Elxsi, Kelton Tech, Bosch, Happiest Minds Technology, Zensar Technology
– Ban on Chat GPT in Italy and its impact on coding productivity report from an unidentified source.
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