Kantar, a leading research platform has released a report on the trends emerging in Generative Artificial Intelligence (AI). The firm has set
The report highlights that fitness and social media apps are leading the adoption of AI, followed closely by entertainment apps.
Kantar's Report on Gen AI
Kantar, a platform specializing in marketing data and analytics, reveals that India's current AI user base stands at 724 million and is projected to grow year-on-year at a rate of 6%. Puneet Avasthi, senior executive director of South Asia Insights Division at Kantar, emphasizes that AI is no longer confined to tech enthusiasts, but has become an integral part of everyday consumer experiences.
The report also indicates significant growth in various AI usage categories, such as personalised recommendations, task automation, image enhancement filters, smart home automation, and virtual assistants.
Social media platforms serve as key drivers for AI adoption, enabling users to access tailored content. However, sectors like banking, finance, insurance, job search, and short video apps are slower in adopting AI, mainly due to security concerns.
Expert Speak
Soumya Mohanty, managing director & chief client officer of South Asia Insights Division at Kantar, highlights the cautious approach of the BFSI sector towards AI adoption, especially regarding security. Mohanty stresses the need for sufficient use cases and breaking down data silos as critical challenges for marketers in leveraging AI effectively.
Looking ahead, Avasthi predicts that generative AI will emerge as a $1.3 trillion market by 2034, with a potential 42% CAGR growth over the next decade.
AI usage is significantly higher among youth aged 19-24 but remains substantial even among older demographics.In response to these trends, Kantar has introduced an innovative suite of AI-powered research solutions aimed at helping brands better understand consumer behaviour.
