Indian data analytics MD Sanketh Kondur praises EY report on generative AI, deeming it a groundbreaking development for the banking and financial services sector in India.
In a welcoming endorsement of the latest research report titled "The AIdea of India: 2025," Sanketh Kondur, Managing Director of K2 Data Analytics, has highlighted the potential for India's financial services sector to experience a significant boost in productivity. The report suggests that productivity levels could rise by 34-38% by 2030, thanks to the AI-led transformation.
Kondur, who did not specify whether K2 Data Analytics is based in Hyderabad, noted that the city's thriving tech and fintech ecosystem is well-placed to contribute to this transformation. He believes that with the advent of Generative AI (GenAI), these systems will evolve into engines of accelerated growth, enhanced efficiency, and innovation.
The report underscores India's readiness to lead the world in the adoption of GenAI. Nearly half of the firms are committing budgets to AI adoption, and 74% of them have already initiated GenAI projects. However, the specific firms involved in these projects were not explicitly named in the provided search results. Significant involvement in generative AI is noted for firms like OpenAI, Google, xAI, and specialized companies such as Onsai in hospitality AI solutions, as well as general tech firms heavily investing in AI applications.
Banking operations alone could see gains of up to 46% due to GenAI adoption. Kondur described this development as transformative for India's banking and financial systems. He did not, however, make a specific statement about the transformative potential of GenAI for these sectors.
K2 Data Analytics, a company that provides solutions for business efficiency, productivity, and profitability, aids clients through data integration and visualization, business intelligence, cloud solutions, and big data insights. The company helps connect multiple data sources and gain industry insights to drive business decisions. This transformation is expected to reinforce India's position on the global map of innovation.
