Posted by Heba El-Sayed
Sunday, February 12, 2023 04:00 AM
A report issued by the research firm JPMorgan, revealed that artificial intelligence models generative like ChatGPT of Open AI may hurt Indian IT companies in the short term.
The report says that with wider application of generative AI, technology consulting firms such as Accenture and Deloitte will gain market share over Indian IT firms such as Infosys and Wipro in the near term, according to gadgetsNow.
The research note further adds that generative AI might be a near-term “driver of deflation” in legacy services as they compete on price.
The note adds that these models may make it necessary for organizations to go for employee retraining and lead to a loss of competitiveness.
In its note JP Morgan says that among Indian IT companies, Infosys and TCS are likely to retrain their staff faster than smaller firms and many mid-sized firms because of better graduate recruitment and training infrastructure.
“ChatGPT is likely to shrink legacy services the most and application services at the very least,” says the JP Morgan report.
Not all is well with AI systems either
While AI firm OpenAI’s chatbot ChatGPT has impressed both hobbyists and industry experts, it and other similar chatbots and AI tools have their limitations.
He considered that such applications are prone to inaccurate information and bias, as there were cases where they threw wrong information as well. It is not easy to customize these chatbots according to local needs and requirements.
There may be some local checks and critical characteristics that the AI chatbot is not likely to be aware of, and thus may end up giving wrong answers or incomplete end products.
The technology is still in its infancy, and it’s also likely that there will be regulations.