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Information Technology
In recent years, artificial intelligence (AI) has become a cornerstone for businesses seeking to enhance operations, improve customer engagement, and stay competitive. Beerud Sheth, Co-founder and CEO of Gupshup, emphasizes the importance of integrating AI into business strategies, stating, “Today every CEO needs an AI strategy.” This sentiment resonates as companies worldwide explore how to leverage AI for growth, innovation, and societal impact.
AI adoption has experienced a significant boost due to decreasing costs. According to Beerud Sheth, training and inference costs for AI have dropped by up to 75%[2]. This reduction makes AI more accessible and sets the stage for broader deployment across various industries. Advanced AI models and algorithms like DeepSeek are driving these cost savings, enabling companies to scale their AI capabilities efficiently[2].
Several emerging trends are shaping the AI landscape:
Conversational AI, which includes chatbots and voice assistants, is revolutionizing customer service. Gupshup’s focus on customer engagement has led to the development of pre-built AI agents that can be easily integrated into existing systems, providing businesses with a seamless way to automate marketing, sales, and support processes[1][2]. This trend is especially significant in emerging markets where mobile-first ecosystems dominate.
Implementing an effective AI strategy requires CEOs to understand the potential applications and challenges of AI:
Identifying Use Cases: CEOs need to find the right AI applications that align with their business goals. IBM India MD Sandip Patel highlights the importance of identifying relevant use cases for AI adoption[4].
Addressing Bias and Regulation: Ensuring that AI systems are free from biases and compliant with regulations is critical. Regulatory frameworks must balance innovation with safety and transparency[4].
Investing in AI Talent: Acquiring the right skills and talent to manage AI systems effectively is essential for successful implementation.
Gupshup has been at the forefront of AI innovation, particularly in the conversational AI sector:
Conversation Cloud: This platform allows businesses to build custom AI agents for customer interaction, making AI more accessible to enterprises without extensive technical expertise[1].
AI Agent Library: Gupshup introduced a library featuring pre-built AI agents designed for specific industries. These agents are customizable and can integrate with various messaging channels[2].
Gupshup’s strong network of over 50,000 businesses provides a significant advantage over competitors. The company specializes in marketing, commerce, and sales-driven engagement, focusing on high-impact use cases such as order management and customer support[2].
AI is not just transforming industries but also influencing societal norms and economies:
AI will create new roles and challenges in the job market. While AI can automate certain tasks, it also amplifies human capability, enabling fewer workers to serve more people efficiently[3].
According to PWC, AI could contribute around $15.7 trillion to the global economy by 2030[4]. This potential for economic growth underscores the importance of embracing AI in strategic business planning.
In today's technological landscape, an AI strategy is no longer optional but essential for CEOs. As AI costs continue to drop and applications become more diverse, businesses must effectively integrate AI to remain competitive. Beerud Sheth's emphasis on AI adoption highlights the future of business: leveraging AI to enhance operations, customer engagement, and societal impact. As industries evolve, understanding AI's potential, addressing its challenges, and developing strategies for its integration will be crucial for business success.
