Deloitte is planning to open a new center called the Global AI Simulation Centre of Excellence (CoE) in Bengaluru, India. This center will focus on new technologies like artificial intelligence (AI), especially a type called generative AI. In an interview, Nitin Mittal, who leads Deloitte’s global generative AI, explained why India was chosen for this exciting project.
Why Did Deloitte Pick India?
Deloitte decided on India for a few important reasons. First, India has a lot of skilled workers in the field, not just in Deloitte but also in startups and schools. Second, many big companies, like those on the Fortune 500 list, operate here. In Bengaluru alone, 38% of these companies are located. Other places, like the Nordic countries, may have talent but not at the same level or price. India offers unique benefits that help both global and local clients.
How Much Money is Deloitte Investing?
Deloitte is investing between $5 to $10 million in this new AI center and some related initiatives. This money will be used for things like technology, software, and other resources.
Will Generative AI Make Services Cheaper?
While it might seem like costs will go down, generative AI is actually helping create more business opportunities. More clients are interested in working with Deloitte, which means more projects and new areas of advice.
What Will Change with Generative AI?
Old methods of giving advice, like creating presentations, are changing. Now, Deloitte uses generative AI to gather insights first and then adds expert opinions. This approach helps clients visualize and interact with information in new ways, leading to more successful deals with new clients.
Will Deloitte Use Generative AI in Services?
Yes! In the past 18 months, Deloitte has worked with over 700 clients using generative AI. Currently, about one-third of their clients want to see this type of AI in their projects. In the next 18 months, this number is expected to grow to about two-thirds.
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