EY helps clients create long-term value for all stakeholders. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate.
At EY, our purpose is building a better working world. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets.
Driving transformation: AI is moving beyond experiments to reshape core processes across industries.
Scaling with purpose: Success depends on turning pilots into real, scalable deployments that deliver measurable value.
People at the centre: Building skills and readiness across the workforce is essential to harness AI effectively.
Responsible adoption: Addressing risks around security, reliability and misuse is critical for sustainable impact.
For your convenience, a full text transcript of this podcast is available on the link below:
Neville:
Hi, and welcome to EY.ai Unplugged series where Partners from our firm will be talking about all things artificial intelligence.
Hi, I am Neville Dumasia, I am the market segment leader for Industrials and Energy. I wanted to discuss how artificial intelligence has an impact on several sectors within AMI.
Over 75% of the world's GDP comes from asset-heavy industries — , engineering, energy, manufacturing, real estate, construction, auto, metals and mining. But precious little is understood about how artificial intelligence is used to transform those businesses.
I am very surprised, and I'mI am sure you will be surprised as well, when I tell you that after financial services, it is the manufacturing sector that is the single biggest spender on artificial intelligence, much ahead of telecom, retail and healthcare. In India, while we have seen the auto and the energy sectors being the most progressive in, tech adoption, I think others are not very far behind and will soon catch up.
Across the board, what we are seeing is digital transformation conversations ranging from ERP to SCADA, to implementations in IoT, digital twins and, smart factories Digital Twins and Smart Factories, as our clients start to think a lot more proactively about artificial intelligence. Where some of our clients were traditionally looking to get the most out of numbers—, be it price, be it demand forecasting, predictive analytics, or supply chain, optimization—, .Today, they are broadening their vision to cover text, audio, video, which is a prime case where generative artificial intelligence can be used.
AI cannot happen without data, a fundamental truth, and Indian enterprises have traditionally been voracious in collecting data and preparing for artificial intelligence. I was reading a recent report from Databricks that talked about how among all their customers globally, Indian consumers, are the most proactive in applying artificial intelligence and generative AI solutions on their data, much ahead of Germany, the UK, France and even the United States.
Most importantly, artificial intelligence adoption is not just limited to the private sector. In fact, some of the most progressive thinking that we have been seeing is coming from the PSUs, who have not just shown grand ambition, but also a willingness to adopt through some marquee projects that are recently being tendered out. Now, despite all of this interest, the key question remains —, show me the value.
In our recent survey of Indian enterprises, over 65% of clients reported that lack of clarity on return on investment or ROI prevented them from making decisions on artificial intelligence deployment.
We often encounter clients who have undertaken many PoCs, but have not really taken these to scale. Today, at EY our number one focus has been bringing together our domain and sector experts with our artificial intelligence and technology teams to help brands correctly scope and realize the value in AI-led transformation
A key component to AI-led transformation is people, and at EY we have invested significantly in training our workforce to get the most out of AI, and we are taking the same to our clients today.
Finally, there are some serious, well-placed concerns around the risks surrounding AI, especially data security, reliability and misuse. Through our cyber and tech practices, we have been working with our clients to address these, so that clients can then get the most out of artificial intelligence.
To summarize, we are at the start of an exciting phase in artificial intelligence adoption across the enterprise and abroad. At EY, we are working with our clients holistically — across purpose, discovering and scoping real usage correctly, process executing these successful transformations, being mindful of inherent risk and bringing the people along the way. Thank you so much.
