Business transformation has taken on a new form in the AI era. As the AI hype settles, it’s crucial that organisations shift from speculative excitement to actionable strategies to ensure a successful AI-driven digital transformation.
WNS’ Group CEO Keshav R. Murugesh offers expert insights into how AI is fundamentally reshaping business landscapes, outlines the tangible benefits it offers and shares the practical steps leaders should take to successfully integrate technology into their operations.
How has AI reshaped the digital transformation landscape and what are the tangible benefits that businesses can expect to realise today?
One of the greatest elements of life today is that we are constantly seeing change, which is most definitely the case with technology. As far as generative AI (GenAI) is concerned, it is completely rewiring the way businesses are approaching transformation and reinvention.
The advent of GenAI means that everything must change - the tools we have used up until now will be unrecognisable tomorrow. This shift is empowering a number of enterprises to reshape their business functions and generate innovative concepts for services that will diversify their revenue streams and evolve their operations.
Enterprises need to look at GenAI as a tailwind for their business, as opposed to a headwind. Strategically, businesses have only just started dipping their toes in this model but momentum is growing. We’ve worked with clients to achieve improvements in customer experience and productivity increases of up to 40%.
As organisations prioritise internal improvements and productivity gains, they must be cautious not to neglect the additional value levers that GenAI offers, such as market expansion, innovation and revenue growth. The GenAI journey is not just about efficiency; it is about reimagining what is possible and charting a course towards sustainable success.
Industries are embracing AI at different speeds. Are there specific sectors where AI-powered digital transformation has led to significant, practical outcomes?
All industries have the opportunity to transform their operations. Even if a process change is small, the impact can be endless. Take travel as an example. Travel management companies can now create personalised itineraries, while also streamlining the booking process. But the real innovation comes in its ability to predict as well as prevent travel disruption by foreseeing likely delays and reacting to this data by proactively changing plans.
On the logistics side, GenAI is helping the shipping industry contextualise millions of inbound customer queries with hyper-automation and large language models (LLMs). Businesses are now resolving incoming queries and workflows in an instant because of the speed of this technology.
In banking, GenAI is having a huge impact on fraud and money laundering detection. In healthcare, it’s helping those on the frontline deliver more comprehensive care thanks to the volume of data it’s able to analyse, massively expediting diagnosis. These are just a few examples of many.
Visionary leaders must create a clear path between GenAI vision and business value
What are the practical steps businesses should be taking to ensure digital transformation success?
Simply put, businesses need to get started. The opportunity is here and now and so leaders need to focus on creating value, not on perfecting the tech stack. This means visualising a fully AI-enabled solution and working backwards from there by identifying the value-led capabilities.
In most cases, having a trusted partner with genuine domain expertise who can help you leverage GenAI to solve operational challenges and drive strategic growth journeys will accelerate this process and put businesses on the path to success quicker.
Businesses also need to start thinking bigger. AI can no longer be restricted to small groups - all users in a business must be empowered to unleash value from technology.
While technology is often the focal point of AI discussions, the human element is just as crucial. What cultural shifts need to take place and how can organisations future-proof their workforces?
Whether it’s the advent of a new technology or a major global event, businesses and people have consistently adapted. The rise of AI will be no different. As technology continues to evolve, businesses must keep upskilling and reskilling talent. When people are properly trained, technology enables higher levels of human ingenuity. At WNS, we’ve made active investments in employee training and re-skilling with over 17,000 learners engaged across more than 20 curated GenAI training programs. Leaders need to invest in their people now for long-term success.
Ultimately, the illiterate of the 21st century will not be those who cannot read or write, but those who cannot unlearn what they have learned in the past. Businesses need to build data literacy inside their organisations. As leaders, we need to embrace AI democratisation as well as upskill employees.
Future-proofing is a key concern for businesses today. How can organisations ensure they are prepared not just for the current AI landscape but for future advancements?
The AI journey for organisations should be built around setting the relevant goals and success measures. Visionary leaders must create a clear path between GenAI vision and business value.
Leaders must also be prepared to mitigate potential risks, whether it’s security, compliance or reputational concerns. Elements of the business will need reassessment and a strong risk mitigation framework must be put in place.
We are at a defining moment in history and the adoption of AI is not a responsibility we can shirk. Business leaders all over the world need to be asking themselves: how can we scale quickly but also responsibly?
What are the most common challenges organisations face when operationalising AI and how can these obstacles be overcome to ensure long-term success?
Organisations will need to navigate uncertainties when operationalising AI. The first is a common pitfall - thinking that AI will solve all our problems immediately. Leaders must remember that GenAI is a tool for innovation and not a solution in itself. The human touch behind technology will remain crucial for long-term success.
This means thinking of AI as a collaborator and not a competitor. AI can help us make decisions more easily but human ingenuity will always be required. AI is a toolkit, not a quick fix.
How important is a business transformation partner for organisations who are embarking on this journey?
Businesses want to focus on what they are good at. Working with a partner allows businesses to concentrate on their own industry, whether that is travel or banking, while their partner figures out how to leverage technology effectively.
Allowing a partner to come in, make sense of what their data is telling them and provide outcomes in a simple format, is the best way to take advantage of technology. At the end of the day, companies often can’t navigate all aspects of technology and GenAI on their own. They need a partner.
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