Generative AI Among Indian SMEs: Top Opportunities of 2024

The growth of Generative AI among Small and Medium Enterprises (SMEs) in India has been steadily gaining momentum, driven by the country's burgeoning tech ecosystem and a growing awareness of the transformative potential of artificial intelligence. The way growth and action was registered in 2023, it is very obvious that Indian SMEs will surely give a booster to Generative AI in 2024 also. 

The Gen AI Growth

We have witnessed that SMEs in India are increasingly recognizing the value of implementing Generative AI solutions to enhance efficiency, streamline operations, and gain a competitive edge in the market. Factors such as the availability of cost-effective AI solutions, a skilled workforce, and a government push towards digitalization have contributed to the adoption of Generative AI technologies. 

In an exclusive conversation with SMEStreet, Manish Gupta, Vice President, Infrastructure Solutions Group,  Dell Technologies India shared India specific details on Dell Technologies’ towards Generative AI. He said, “GenAI is the key to unlocking value within data and thus is becoming one of the most important tools for businesses of all sizes. AI witnessed an exponential rise to solve business problems and run projects from conception to production on its own. According to the Ministry of Electronics and Information Technology (MeitY) report it is expected to add USD 450–500 billion to India's GDP by 2025 - 10% of the country's USD 5 trillion GDP target. As per an IDC report, by 2025, 88% of the servers used for AI workloads deployed at the edge will be used for inferencing. The cost to inference and cost of operation along with the leadership involvement is also expected to increase.” 

Generative AI in 2024

Sharing an glimpse about the kind of investments that Dell Technologies is planning to make as part of its commitment to ensuring safer and widely accepted Generative AI solutions among small businesses in 2024, Mr Gupta also added, “As we move into 2024, we will see the first wave of GenAI enterprise projects reach levels of maturity making it a necessity for all organizations including small businesses to incorporate the solutions to projects ensuring safety ensuring the security of the data. It will mandate Zero Trust and its importance in the cybersecurity efforts of the world. Dell’s project Fort Zero will be deployed into the market in 2024 as the first commercial full Zero Trust private cloud system in the industry, paving the way for Zero Trust adoption across various industries. With Dell Technologies’ solutions, businesses can confidently advance Generative AI initiatives, knowing they can ensure safety on every step of the way.” 

The year 2024 is expected to have great action among SMEs, these SMEs are leveraging AI for diverse applications, including customer relationship management, data analytics, process automation, and innovative product development. As more Indian SMEs embrace the possibilities offered by Generative AI, the technology is poised to play a pivotal role in driving economic growth, fostering innovation, and enabling these enterprises to navigate the evolving business landscape with agility and resilience.