At the forefront of all technology trends is artificial intelligence (AI), and its subset, generative AI, or gen AI, was the center of attention in 2023. By 2024, Most conversations will likely be based on realizing real-world, practical use cases of Generation AI. Speaking about its adoption, John Roese, Global Chief Technology Officer (CTO) at Dell, said: “While generative AI has sparked incredibly creative ideas about how it will transform businesses and the world, it Very little real, large-scale generative AI exists. activities. 2024 will see the first wave of generative AI enterprise projects reach maturity levels that will expose important dimensions not yet understood in the early phases. »
This would also be crucial for India’s information technology (IT) services sector. Brokerages say many service providers, which struggled in FY24 to grow revenue and improve margins, could see Generation AI start to make a business impact over the next year. fiscal 25. A Dec. 20 investor note from brokerage Elara Capital cited global IT major Accenture’s $450 million in generative AI sales to project that the coming year could signal that generative AI becomes the “new growth engine” for the national IT services sector.
The new year will likely see more policies aimed at regulating the rapidly evolving tech scene. As the AI generation continues to be a key growth factor for businesses in 2024, new policies and regulations will simultaneously shape India’s technology guardrails. In an interview with Mint on December 13, Minister of State for IT Rajeev Chandrasekhar said that one of the first policies to be released next year is India’s AI Agenda, on 10 January. “What we’ve been missing (so far) is real, cutting-edge, large-scale AI computing and curated, legal, diverse, high-quality, and curated data sets. . These two elements are part of our AI program in India which we will launch on January 10. The handicaps of our AI ecosystem will be addressed here,” he said.
Other areas likely to be subject to review and evaluation will likely include formalization of Digital Personal Data Privacy Act (DPDP) rules, review meetings for online gaming taxation , the regulation of over-the-top (OTT) Internet messaging, communication and entertainment services. , and even the global Digital India Act (DIA). An opinion on the implementation of cyber safeguards against the proliferation of deepfake and AI-manipulated content is also expected soon, while depending on the progress made under this opinion, further amendments to existing rules in Information Technology (Intermediate Guidelines and Digital Media Ethics Code), 2021, could be in order.
The third key technological axis would be cybersecurity. As AI evolves, cybersecurity could come under strain. As AI continues to be the learning novel of technology, the rendezvous between cybersecurity and AI will amplify into a more intense war in all formats. A December 20 joint report by local cybersecurity firm Quick Heal and Nasscom-backed industry body Data Security Council of India (DSCI) predicts growing sophistication of malware driven by AI generation and increasing frequency of cyberattacks on global supply chains, as key themes for 2024. .
As a result, AI is clearly a new enemy that presents a challenge to master. During a panel discussion on December 5, Pascal Brier, global director of innovation at IT services company Capgemini, said state-sponsored cyberattacks on a global scale will emerge as a key driver of quantum cyberthreats. “Ultimately, quantum computers won’t just break cryptography, which is why we will soon start to see many security applications leveraging quantum systems. 2024 is the year we will start to do so. think about it,” he said.
India will be at the forefront, by the way: a note from Quick Heal chief and former Infosys senior vice president and head of information security Vishal Salvi noted that last year , 13.7% of global cyberattacks took place in India. This also emphasizes India’s cyber defense efforts.
Fourth, global data center and semiconductor operations are all expected to expand next year, with landmark deals and announcements. In an interview with Mint on December 12, Sunil Gupta, chief executive of data center company Yotta, said the company would expand its hyperscale data center and build new state-of-the-art data centers to meet the demand of customers in AI over the next year. Real estate consultant JLL said in an October 5 report that AI-driven absorption demand for available data center capacity would be boosted over the next 12 months and is expected to reach 1.48 GW in three years, compared to 778 MW in June this year.
The semiconductor industry could also see landmark deals: while Micron’s plant in Sanand, Gujarat could become partially operational by the end of 2024, other deals, such as the planned investment of $4.8 billion by Tata Electronics for a “semiconductor processing” plant in Assam, expected to generate more deals. the details too.
Finally, the coming year could prove interesting for the video game industry. For real money gaming startups, described by the courts as “online games”, 2024 will be a year of consolidation of offers. In an interview with Mint on December 6, Harsh Jain, chief executive of Dream11, said the company could invest up to $100 million in strategic acquisitions as smaller companies bankrupt under the impact the increase in the burden of the goods and services tax (GST). Sudhir Kamath, COO of a listed company Nazara Technologiessaid this would be the obvious next step for the industry in the coming year.
For esports, 2024 will be about improving monetization. In an interview with Mint last month, Sean-Hyunil Sohn, managing director of BGMI manufacturer Krafton India, said optimizations to grow esports offerings will include India-specific gaming asset pricing models to to leverage the impact of the UPI. According to a report from venture capital firm Lumikai, this could see the monetization of esports and casual gaming increase through 2024 and over the next four years to come.
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Published: December 26, 2023, 9:44 PM IST
