Nasdaq-listed NetApp, an intelligent data infrastructure company, has released its second annual Cloud Complexity Report, which analyses the experiences of global technology decision makers deploying AI at scale and shows a stark contrast between AI leaders and AI laggards. This year’s report provides global insights into the progress, readiness, challenges and momentum made since last year’s report, what we can learn from both the AI leaders and AI laggards and the critical role of a unified data infrastructure in achieving AI success.
India heads the pack as an AI leader, with 70 per cent of companies having AI projects up and running, or in motion, in stark contrast with the global average of 49 per cent. Additionally, the report found that 91 per cent of India-based companies will use half or more of their data to train AI models in 2024.
“The world today is driven by AI and data plays a critical role in enhancing AI capabilities,” says Puneet Gupta, vice-president & managing director, NetApp India/ SAARC. “India is a country of huge data sets. No surprise then, that India leads the world and corporations are embracing AI to further their IT agenda. We are partnering with a diverse group of customers to build an intelligent data infrastructure that spans multiple environments and is the backbone of all AI projects. Clearly, the more unified and reliable your data, the more likely your AI initiatives are to be successful.”
The report reflects a clear divide between AI leaders and AI laggards across several areas including regions, industries and company size. About 60 per cent of AI-leading countries (India, Singapore, the UK, the US) have AI projects up and running or in pilot, in stark contrast to 36 per cent in AI-lagging countries like Spain, Australia, New Zealand, Germany and Japan.
Technology leads with 70 per cent of AI projects up and running or in pilot, while Banking & Financial Services and manufacturing follow with 55 per cent and 50 per cent respectively. However, healthcare (38 per cent and media & entertainment (25 per cent) are trailing.
Larger companies (with more than 250 employees) are more likely to have AI projects in motion, with 62 per cent reporting projects up and running or in pilot, versus 36 per cent of smaller companies (with fewer than 250 employees). Both AI leaders and AI laggards show a difference in their approach to AI. Globally, 67 per cent of companies in AI-leading countries report having hybrid IT environments, with India leading (70 per cent) and Japan lagging (24 per cent). About 87 per cent of Indian companies have optimised IT environments for AI and some AI-lagging countries also have AI-ready IT environments: Germany (67 per cent) and Spain (59 per cent).
AI leaders are also more likely to report benefits from AI, including a 50 per cent increase in production rates, 46 per cent in the automation of routine activities and a 45 per cent improvement in customer experience. “The rise of AI is ushering in a new disrupt-or-die era,” says Gabie Boko, chief marketing officer, NetApp. “Data-ready enterprises that connect and unify broad structured and unstructured data sets into an intelligent data infrastructure are best positioned to win in the age of AI.”
Despite the divide, the report has found there is notable progress among AI laggards in preparing their IT environments for AI, but the window to catch up is closing rapidly. A significant number of companies in AI-lagging countries (42 per cent) have optimised their IT environments for AI, including Germany (67 per cent) and Spain (59 per cent). Companies in some AI-lagging countries already report they see the benefits of a unified data infrastructure in place, such as: Easier data sharing: Spain (45 per cent, Australia/New Zealand (43 per cent) and Germany (44 per cent); increased visibility: Spain (54 per cent and Germany (46 per cent).
According to the report, rising IT costs and ensuring data security are the two of the biggest challenges in the AI era, but they will not block AI progress. Instead, AI leaders will scale back, cut other IT operations, or reallocate costs from other parts of the business to fund AI initiatives.
About 53 per cent of India-based companies reported being more likely to scale back or cut other parts of IT operations to make room for AI projects. About 71 per cent of Indian enterprises feel cyber-security is the biggest challenge for managing the increasing complexity of data across cloud or multi-cloud environments. This is followed by 52 per cent of tech leaders reporting increased scepticism over cloud and 37 per cent worrying about going over-budget.
NetApp report says that Security, AI and CloudOps will drive the 2024 Cloud investments. As global companies, whether AI leaders or AI laggards, increase investments, they are relying on the cloud to support their goals. Increasing data security investments is a global priority, jumping 25 per cent from 33 per cent in 2023 to 58 per cent in 2024. About 82 per cent of Indian companies reported plans to improve security within their company’s public cloud usage in 2024, followed by cost management and automation of processes at 66 per cent each and resource inventory and
utilisation at 52 per cent.
KITCHEN APPLIANCES
Smart assistants
The first week of April saw Mumbai-based kitchen appliances-maker, Wonderchef Home Appliances Private Limited, launch an appliance called Chef Magic. The company says Chef Magic is a kitchen robot. This appliance is even for those who do not know how to cook. This appliance has been fed with 200 odd recipes. A person has to first select the recipe, then tell the appliance how many individuals to serve, the appliance then lists out the ingredients needed and the quantity. These ingredients have to be poured into a jar. And the appliance will issue instructions to be followed till the food is ready to serve.
Chef Magic
4.7 litres cooking jar capacity
200+ Recipes
Induction Heating
7 inches touch screen
Weight = 7.5 Kg
Price = Rs. 59,999
upliance
2 litres cooking jar capacity
500+ recipes
NA
8 inches touch screen
Weight = 6.9 Kg
Price = Rs. 23,999
Before the advent of Chef Magic, Bengaluru-based React Labs Private Limited, launched a product called upliance last February. The company calls it a smart cooking assistant. In effect, Chef Magic is the second similar appliance to appear in the market.
upliance says it has 500 plus recipes under its belt unlike 200 plus by Chef Magic. According to Wonderchef, Chef Magic can execute 18 of the most common functions in cooking. While React Labs puts the number at 16. In general, these appliances can blend, chop, fry, heat, knead, rinse, saute, steam, stir and whip. It is for cooking aficionados to list out the 16/18 most common functions in cooking.
Without getting into company-specific details, in general, the accessories which are given with this appliance includes chopping blade, kneading blade, measuring spoons, saute blade spatula, steamer and whipper/whisker. Both the appliances have weighing scales. And, these appliances can be connected to the internet.
It needs your help too! However, with all this help, the appliance cannot replicate all the functions. For example, if one wants to make carrot halwa, then the carrots have to be peeled, washed and then cut into the size as mentioned by the appliance before putting it in the cooking jar. Similarly, if one wants to cook prawns pulao. The rice has to be soaked and then fed into the cooking jar. More importantly the appliance cannot peel and devein prawns (considered an art by itself) besides the peeled and deveined prawns have to be marinated before it can be put into the cooking jar. Both the companies say the appliance is ideally suited to serve four. This implies that this appliance is not suitable for mass cooking.
According to press reports, React Labs so far has sold 1,000 units. Wonderchef officials claim that the company expects to garner revenues of R100 crore in 2023-24 from this newly launched cooking appliance.
Arbind Gupta
arbind.gupta@businessindiagroup.com
Conferences
Future leaders
It was a significant milestone in the academic journey of the graduating students at the Indian Institute of Management, Kashipur (IIM-K), marking the culmination of their dedication and hard work in completing various programmes offered by the institute. These programmes include flagship two-year MBA, MBA Analytics, Executive MBA, and Doctoral programmes. The IIM-K also demonstrated its commitment to creating future leaders to showcase their skills in today’s dynamic and competitive business landscape.
The first batch of Executive MBA Analytics were conferred with degrees under various programs. A total of 438 students were awarded their respective degrees, of which 30 per cent were women. The 2023–25 batch of the MBA (Analytics) registered an impressive 69 per cent female students, bridging the gap of gender diversity in management.
Addressing the students, Yazdi Nagporewalla, CEO, KPMG India, said: “Today marks a rare and momentous occasion where we celebrate the achievements of the future leaders of our nation. Let us extend our heartfelt congratulations to each graduate, recognising the unwavering support of proud parents and the dedication of the esteemed faculty. As you step into the world, remember the profound significance of education and the values it instils. Your degree is not just a symbol, but a passport to a world of opportunities. Embrace your journey with anticipation and resilience, for success is earned through continuous learning, hard work, and adaptability. Never shy away from challenges, for in chaos lies opportunity. Embrace technology, invest in your skills, and always uphold the values of integrity and respect.” He added: “In Korea, people think of ‘Nation first, company second, family third, and self fourth’. We need to learn from them.”
The institute witnessed the conferral of degrees upon 438 students at its 11th convocation. During the ceremony, 232 graduating cohorts received MBA degrees, 87 MBA Analytics degrees, 83 EMBAA degrees, and 21 Executive MBA degrees. Fifteen scholars from the Doctoral Programme also received their degrees. The first batch of Executive MBA Analytics was conferred with degrees. The institute also offers a slew of online courses. There are as many as 17 short online certificate programmes and eight one-year executive/postgraduate certificate programmes, including hospital management, rail management, and design thinking and innovation for business strategy. There are also three diploma programmes.
Women power IIM-K has recently been witnessing exponential growth in terms of female students across all programs. In the 2019-21 batch, it recorded 11 per cent female students, while in the 2021-23 batch, this surged to 30 per cent. “As we celebrate this convocation day, let us reflect on our journey of excellence. IIM Kashipur’s 19th rank in NRF 2023 echoes our commitment to unparalleled standards. Our diverse student body, including 69 per cent female representation in MBA (Analytics), underscores the evolving landscape of education. We take pride in supporting economically and socially challenged students and fostering an inclusive environment. Today, as we bid farewell to our graduates, we stand poised to shape the future with innovation and inclusivity,” Sandeep Singh, Chairman, Board of Governors, IIM-K, stated.
IIM-K is closely working with the Uttarakhand government to support and uplift the local population. With its Foundation for Innovation and Entrepreneurship Development (FIED), Management Development Programs (MDP) for industry, and Design and Innovation Centre (DIC), IIM Kashipur has produced successful business leaders and job creators.
“Despite market challenges this year, we saw the active participation of 200+ student organisations, extending 270 offers to the MBA and MBA (Analytics) batch. Besides regular recruiters such as ICICI Bank, KPMG, Capgemini, Bank of America, Gartner, Tiger Analytics, TATA Capital and Delloite, several new organisations came, such as Barclays, Accenture Strategy, Swiggy and Carelon,” said a beaming prof Kulbhushan Balooni, Director, IIM-K.
IIM Kashipur’s training programmes are designed to address industry trends, with sessions focusing on topics like Industry 5.0, emotional intelligence, leadership development, and women’s leadership, ensuring participants stay updated with the latest developments in their fields. The institute collaborates closely with state governments on various developmental areas such as sustainability, health, disaster management, and public policy, showcasing its commitment to contributing to broader societal issues.
S M BOOTHEM
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