FEATURE: DIGITAL TRANSFORMATION
AI as a catalyst for digital transformation
Anand Raman, EVP and COO, Newgen Software, says AI is not a one-time project but an ongoing capability to be refined.
Remember when‘ going digital’ meant launching a mobile app and moving files to the cloud? It then felt bold and visionary. However, today that’ s just the bare minimum. We’ ve moved from digitizing processes; we are now reimagining entire business models. The transformation is intelligent, adaptive and always on.
Here’ s a wake-up call though, by 2027, global spending on digital transformation will hit US $ 3.9 trillion.
That’ s not a trend; it’ s a tidal shift – and AI is powering the wave. In fact, 64 % of firms believe AI will significantly boost their business outcomes.
Today, the market isn’ t waiting. Customers aren’ t waiting. We’ re talking ML models, GenAI, NLP, AI agentsand data analytics. If organizations still treat AI like an R & D experiment, they’ re not just late, they are at the verge of becoming irrelevant.
Why AI is a catalyst for change
The numbers tell the story:
• Analysts estimate GenAI could add $ 2.6 –$ 4.4 trillion annually to economic growth
• In financial services alone, McKinsey projects $ 200 –$ 340 billion of value( 9 – 15 % of operating profit) from AI, mainly from higher productivity
• Gartner says that by 2028, 33 % of enterprise software applications will include agentic AI, enabling 15 % of day-to-day work decisions to be made autonomously
These are not forecasts for 2030. These shifts are already underway and driving innovative processes.
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