Mumbai’s Business Leaders Embrace AI for Innovation and Efficiency. Mumbai is witnessing a surge in artificial intelligence (AI) adoption among its leading businesses. CEOs, CXOs, and top executives are actively seeking ways to leverage AI to drive innovation and streamline operations. This trend highlights the growing urgency for business leaders to future-proof their skillsets by understanding how AI can transform their industries.
Understanding AI’s Impact on Business
Experts emphasize the critical role AI plays in revolutionizing business models and propelling growth. Francisco Veloso, Dean of the prestigious global business school Insead, observes a significant increase in upskilling efforts among Indian professionals, particularly in AI and its business applications.
“There’s a remarkable upsurge in interest from corporate leaders and senior management,” says Veloso. “While they don’t necessarily aim to become AI specialists, they recognize the value of integrating AI tools effectively to enhance products and operational efficiency.”
Executive Education Embraces Generative AI
UpGrad, a leading education platform, reports a significant rise in demand for executive doctoral programs focusing on generative AI (GenAI). Mayank Kumar, co-founder of upGrad, attributes this trend to the growing need for experienced professionals to remain agile and adaptable in the dynamic business environment.
“Our programs are attracting a distinguished audience of CXOs, directors, and seasoned professionals with over a decade of experience,” says Kumar. “This reflects the growing recognition among senior leadership of the necessity to acquire new skills to stay competitive.”
Industry Leaders Champion AI Adoption
Tata Consumer Products’ CEO, Sunil D’souza, emphasizes the importance of fostering AI expertise within management teams. “Our digital team has played a pivotal role in demonstrating the potential of AI,” says D’souza. “We’re now actively implementing AI-powered solutions to optimize our operations and unlock new growth avenues.”
Similarly, Sunil Kataria, CEO of Raymond Lifestyle, highlights his company’s strategic collaboration with technology giants like Microsoft and AWS to harness the power of AI for sustainable business growth. “Integrating AI into our core operations has become a top priority,” says Kataria. “It’s fundamentally changing how we engage with customers and conduct business in today’s digital age.”
The Indispensability of AI Knowledge
In today’s rapidly evolving business landscape, board members and leadership teams increasingly recognize AI knowledge as an essential competency. As organizations strive to maintain a competitive edge, understanding and effectively leveraging AI technology is paramount for achieving sustained growth and long-term success.
