India’s Role in the AI Revolution: Insights from PwC Global Chairman Mohamed Kande
India’s scale, ambition, and burgeoning culture of innovation position it to play an increasingly significant role on the global stage, particularly with the rise of artificial intelligence (AI), said PwC Global Chairman Mohamed Kande during a recent technology conference.
The Power of AI in Driving Leadership
“AI amplifies this leadership,” Kande stated. “It democratizes access to knowledge and creates opportunities for breakthrough ideas from anywhere.” These insights were shared during a session titled Technology, Trust, and Transformation: The New Business Playbook.
The Intelligence Age: A New Era
Kande, reflecting on his 20 years of visits to India, emphasized the rapid changes he has witnessed each time. “As AI capabilities advance, we’re living through a turning point in history. We call it the intelligence age, following the industrial and digital revolutions,” he remarked.
The Foundation of Information
He observed that information is the bedrock of everything—from the functioning of our bodies to the operation of supply chains and businesses. “AI makes it cheaper and faster to turn information into value. That changes the game,” he noted.
The Energy Costs of AI
Kande pointed out that while AI may seem virtual, it relies on tangible resources: chips, rare minerals, data centers, and substantial energy consumption. He highlighted that a single AI query can use ten times more energy than a traditional web search.
Electricity Consumption of Data Centers
Some data centers now consume as much electricity as entire cities. To meet this escalating demand, technology companies are investing in nuclear energy, while energy providers expand into digital infrastructure.
Transforming Industries Together
Kande mentioned how various sectors are collaborating in unprecedented ways. “We call it value in motion—value is migrating from one sector to another, fostering innovative solutions,” he explained.
Industry Convergence: A New Frontier
Industries such as automotive, technology, energy, and telecommunications are reinventing mobility together. Similarly, healthcare and technology are combining forces to enhance patient care.
Public and Private Sector Synergy
Kande observed the shift in the public-private paradigm, stating that leaders must navigate both sectors concurrently. “Governments are making direct investments in ships, energy, and digital infrastructure like never before,” he said.
Adaptation to New Rules
“Companies need to adapt to these emerging regulations on data, trade, and security. Beyond adaptation, they must also contribute to shaping these rules,” Kande urged.
The Importance of Partnerships
He stressed that partnerships with governments will be as crucial as those with industry peers in this new landscape.
Four Principles for Navigating Change
Kande outlined four guiding principles for companies in adapting to these transformations:
1. Connect Data Points
“Leaders must connect data points that are often seen as separate,” Kande advised, emphasizing the importance of making informed choices through data integration.
2. Fail Fast and Learn Faster
In a rapidly changing environment, waiting for certainty can lead to missed opportunities. “Some efforts will succeed, others will fail, but both outcomes offer valuable lessons,” he pointed out.
3. Reinvent, Don’t Just Refine
Kande urged leaders to rethink their approaches, focusing on how to do things differently rather than just faster or better.
4. Build on Trust
Finally, Kande emphasized that trust in AI implementation—with strong governance and accountability—is crucial for driving global GDP growth, which could potentially rise by 15% over the next decade.
Conclusion
“The business playbook is evolving. Industries are converging, and significant reinvention—not just minor improvements—will determine success in this new era. It is trust that will ultimately dictate the value AI delivers,” concluded Kande.
Frequently Asked Questions
1. What is the significance of AI for India?
AI is set to enhance India’s leadership on the global stage by democratizing knowledge access and allowing for innovative solutions to emerge from various sectors.
2. How does Kande define the current technological era?
Kande refers to this era as the intelligence age, following previous revolutions in industry and digital technology.
3. What are the four principles outlined by Kande?
The four principles are: connect data points, fail fast and learn faster, reinvent rather than refine, and build on trust.
4. Why is trust important in AI implementation?
Trust is essential for ensuring responsible AI use and maximizing its potential to contribute to global GDP growth.
5. How are industries collaborating in the AI era?
Different sectors are working together to innovate in areas like mobility, healthcare, and food systems, creating new solutions and value.
