Inside India’s Most Powerful GCC Summit

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THE WEEKLY NEWSLETTER OF AIM. Monday, Jul 1, 2024 | Was this email forwarded to you? Sign up here By Siddharth Jindal Last Friday, AIM successfully concluded the fifth edition of its MachineCon GCC Summit 2024 in Namma Bengaluru, featuring industry stalwarts like CP Gurnani, former managing director of Tech Mahindra; Rajasekharan Unnikrishnan senior director (marketing) at SymphonyAI; and Shikha Miglani, co-founder and CEO at Saarthee, among others. The event hosted over 300 attendees, alongside 90+ speakers and leaders discussing the multifaceted role of GCCs in driving innovation, navigating challenges, and shaping the future of work, reflecting insights from broader industry trends. “A year ago, I took on two challenges, losing weight and creating an Indic LLM,” shared Gurnani during his keynote speech. “As for losing weight,” he quipped, "let's just say we won't discuss that,” making it clear which one was easier for him. Coincidentally, on the same day as the MachineCon Summit, Tech Mahindra launched 'Project Indus’, an Indic LLM for Hindi and 37+ dialects. "I am happy to share that Tech Mahindra has spent less than $5 million on Project Indus, despite what Sam Altman had said about India never being able to build its own LLM,” said Gurnani.  "India's competitive advantage is frugality, innovation, technology, and people leadership," he said, adding that he is convinced that the next NVIDIA would emerge from India as the semiconductor industry evolves in the next five to seven years.  Gurnani also discussed the future of Agent AI, predicting that it will enhance employee productivity by 40%. Along similar lines, Rajasekharan said, “AI can take 30% of the manual and mundane work that we currently do and help automate that.” SymphonyAI recently launched a Copilot catering to enterprise, retail, media, industry, and financial services.  Founded in 2017 by Romesh Wadhwani, SymphonyAI has rapidly grown to employ over 3,000 professionals, including data scientists and industry experts, and serves more than 2,000 customers globally. India: The Hottest GCC Hub  India's GCC sector is thriving, currently employing over 1.6 million professionals. According to EY, this growth trend will persist, with projections showing over 2,400 GCCs in India by 2030, generating jobs for more than 4.5 million people. The market size is expected to surge to $110 billion by 2030 from the current $45 billion. At the event, the first panel discussed the evolving role of GCCs in healthcare innovation. “A strong collaboration and startup ecosystem in India, combined with the skilled workforce and talent, are positioning GCCs in a unique way for creating innovative solutions," said Rajesh Puneyani of Kenvue GCC.  “GCCs based in India are now a part of the whole drug discovery and development value chain,” said Prasanna Kumar Subbanna, VP, global safety, at Novo Nordisk. He added that while GCCs in the banking and financial services industry may be ahead in terms of maturity and innovation, healthcare GCCs are catching up fast. The panel highlighted the potential of technology, AI, and wearable devices to improve patient care. Not just healthcare, GCCs are also driving the insurance sector. The second panel discussed how the insurance industry is evolving with data-driven models, personalised products, and AI-powered solutions. “More than 50% of our time is saved using some of the advanced predictive models developed by our global capability team,” said Prawal Kalita, managing director at Marsh. As new GCCs spring up in India, it's essential that they understand the nation, considering its diverse cultural fabric, languages, and customs. “Culture sensitisation within GCCs should start from the top and be part of the strategy, not an afterthought,” said Avinash Samrit, country head, India, at Clean Harbors. With a growing number of Indians employed in GCCs, the flexibility of work hours and the implementation of hybrid work systems have become critical, especially post-COVID, catering to the preferences of many Gen Z employees.  “The first question we usually get asked is, ‘How many days are you expecting to be in the office?’” said Mansee Singhal, partner at Mercer. She added that the concept of flexibility is fundamental to the employment equation these days; its absence can significantly impact your overall value proposition. Other sessions explored GCCs' significant impact across industries like manufacturing and retail. They highlighted how GCCs are driving innovation in manufacturing by integrating IoT, AI, and robotics to streamline operations and enhance product quality.  In the retail sector, discussions focused on GCCs' role in optimising supply chains, improving customer experiences, and implementing e-commerce solutions through data-driven strategies. All the videos from our MachineCon GCC Summit 2024 will be made available on our YouTube channel soon. CONGRATULATIONS TO THE WINNERS OF THE GCC EXCELLENCE  AWARDS 2024. CHECK OUT THE WINNERS HERE >>> Thanks to all the sponsors for the grand success of MachineCon GCC Summit 2024, especially Fractal, Snowflake, Synechron, Infocepts, SymphonyAI, Quantzig, Diggibyte, Enreap, RagaAI, SBI and Zinterview.ai.  Special thanks to the AIM team for their unwavering dedication and hardwork. See you in our upcoming events soon >> AI Forum for India. Our Discord Community for AI Ecosystem, In collaboration with NVIDIA. Join Today >> TOP STORIES OF THE WEEK >> Adobe Rewrites History with Databricks in Epic Data Migration Creative tech conglomerate Adobe has recently migrated 2100 servers and two petabytes of data from its data lake to Microsoft Azure and AWS. This migration, one of the largest in the industry, positions Adobe well for bolstering its generative AI initiatives.  Bin Mu, the VP of enterprise data and analytics at Adobe, confirmed this to AIM in an exclusive interview at Databricks’ Data+AI Summit in San Francisco earlier this month. Read the full story here. Watch Out, Chatbots! Amazon Metis is Almost Here With Anthropic’s Claude 3.5 Sonnet currently leading the chatbot race, tech giant Amazon wishes not to be left behind. The company has entered the chatbot competition, developing its own consumer-focused AI chatbot, Metis, which will be unveiled later this year.  Click here to enjoy the full story. PEOPLE & TECH >> Meet the Indian Who Created an Open Source Perplexity Over a Weekend Bishal Saha, a dropout from Lovely Professional University, created Omniplex, an open-source alternative to Perplexity AI over a weekend. Speaking to AIM, he said that despite initial job rejections from Perplexity AI, it was his tenacity that led him to creating this alternative, which is now gaining traction. His journey highlights the broader challenges in India's startup ecosystem and his commitment to democratising AI through open-source initiatives. Read the full article here. Why Semiconductor Companies are Moving to Tier 2 & 3 Cities Semiconductor businesses in India are starting to explore tier-2 & 3 cities across the country for new opportunities. In a conversation with AIM, Srini Chinamilli, the CEO and co-founder of Tessolve Semiconductors, highlighted the growing potential of smaller cities for the company’s operations.  “Bangalore is still the hub, but people have to go outside now, because Bangalore faces different kinds of problems. Can’t have all the eggs in one basket,” Chinamilli said, acknowledging the challenges of concentrating all operations in one location. Enjoy the complete story here.  AIM VIDEOS >> In this episode of Tech Talks, watch Srini Chinamalli, the co-founder and CEO of Tessolve Semiconductors discuss the company’s 20-year journey to becoming a global leader in semiconductor engineering solutions.  In this exclusive, Srini also explores India's semiconductor ecosystem, government support, Bangalore's tech hub status, and opportunities in tier-two and tier-three cities. Watch the full conversation for more insights. AIM EVENTS >> Cypher 2024 | Early Bird Passes expiring on Friday The 8th Edition of India's Biggest AI Summit is scheduled 25-27th Sep in Bangalore.  Don’t hesitate and buy tickets today – All tickets are at a special price until 05.07.2024. Hope to see you there :) Register Now AIM SHOTS >> Oracle has introduced HeatWave GenAI, the industry’s first in-database LLMs and an automated in-database vector store. 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Tata Electronics has signed an MoU with Synopsys to collaborate on process technology and a foundry design platform, aiming to accelerate product development in India’s first fab in Dholera, Gujarat. Hugging Face has introduced a new open LLM leaderboard, with Chinese models dominating the rankings. AWS announced a $50 million, two-year Generative AI Impact Initiative to accelerate AI innovation in public sector organisations at its Washington DC event. Download our mobile app Access our stories, video content and events on the go. Stay Connected info@aimmediahouse.com © 2024 AIM Media House LLC and/or its affiliates. All rights reserved. For more information, email info@aimmediahouse.com

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