65% of TMT companies have adopted GenAI, reveals PwC report

58% of organisations in the TMT sector view Gen AI as a long-term disruptor with significant transformative potential, a recent report by PwC India stated. It further reveals that a majority of TMT CEOs have recognised GenAI as one of their top five strategic priorities, with nearly 42% placing it among their top three. Notably, CEOs in the technology sector anticipate greater disruption from GenAI than those in the telecom and media sectors. Specifically, 68% of respondents from technology companies see GenAI as a long-term disruptive force, while the media and entertainment sector follows at 51%, and the telecom sector at 40%. From what is understood, the report delves into the various applications of GenAI, its adoption levels, implementation strategies, operational impacts, and potential challenges faced by TMT companies in India.

“GenAI is rapidly revolutionising the TMT sector, with each industry finding unique applications for the technology. In the technology sector, GenAI is driving product development and system integration, with 80% of companies already leveraging AI solutions,” Manpreet Singh Ahuja, TMT sector leader and chief digital officer, PwC India, said. Media and entertainment firms are focusing on content generation and are using GenAI to create audio, video and text, with significant implementations expected within a year, while telecom companies are utilising GenAI for real-time operational support, including automated fault detection and AI-powered digital assistance. These use cases are transforming business models, enhancing customer experiences and unlocking new efficiencies across the sector, he added.

The survey reveals key findings regarding the adoption of GenAI in the technology, media, and telecommunications (TMT) sectors. Reportedly, 65% of TMT respondents have implemented at least one GenAI application, with almost half of these organisations outlining a comprehensive strategic roadmap for implementation. The technology segment shows the highest adoption, with around 80% of organisations deploying their first GenAI solution. In terms of focus, companies in technology primarily target product and service enhancement at 97%, while the media and entertainment sector follows at 80%, the report revealed. Conversely, the telecom sector emphasises cost optimisation, with all respondents highlighting this priority.

Regarding return on investment (RoI), 40% of TMT C-suite executives, particularly in technology (44%) and telecom (40%), report seeing benefits from their GenAI initiatives and are on track to achieve the expected RoI. Additionally, 32% of technology executives anticipate realising the desired RoI within the next year, although 30% of telecom respondents remain uncertain about their timelines, according to the report. As GenAI becomes more autonomous, concerns about control, safety, and accountability are emerging. Companies face challenges related to ethical issues such as bias, discrimination, data privacy, and ensuring transparency in algorithms. While 87% of organisations conduct board-level reviews, 67% admit their policy frameworks are inadequate to address security concerns. Furthermore, 62% of companies are increasing funding for employee initiatives to promote GenAI adoption, the report cited. Financial Express