Forecasting Technology Trends with GCC Leaders | 2024

Foreword
In the ever-evolving realm of technology, the pulse of progress beats
relentlessly. As we find ourselves at the intersection of innovation and
enterprise, the role of Global Capability Centers (GCCs) emerges as a guiding
force, steering organizations toward the future.

2023 has been a testament to the resilience and adaptability of businesses

worldwide. Now, as we stand on the cusp of a new era, the emphasis on
technology as a catalyst for growth has never been more pronounced. The
narratives woven by the esteemed leaders in these pages reflect predictions
and a collective vision—an anticipation of the pivotal role emerging technology
will play in shaping industries.

In 2024, a transformative shift, propelled by the relentless march of Generative

Artificial Intelligence (GenAI), is set to redefine industries. The power of AI is
not merely technological; it represents a strategic force reshaping how
businesses operate, respond to threats, and thrive in an environment that
demands 10x adaptability and innovation. This collective foresight sets the
stage for a year where AI is not just a tool but a transformative catalyst,
steering industries toward unparalleled efficiency, personalization,
and sustainability.

From the transformative potential of AI in retail to the profound impact of

Gen AI, ML, and VR in travel, BFSI, and other industrial sectors, GCC leaders
offer a panoramic view of today’s imminent tech scenario. As we embark on
this journey through their perspectives, we invite you to glean insights, draw
inspiration, and navigate the intricacies of tech trends that will define 2024.

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 Forecasting Technology Trends with GCC Leaders | 2024

A Look Ahead

ï End-to-End Process Transformation with GenAI 4

ï Unprecedented Efficiency, Innovation, and Transformation 5

ï Transforming Risk, Fraud, and Customer Value in Insurance 6

ï A Fresh Approach to Real-time Data with Smart Packaging 7

ï AI, Automation, and Biometrics Reshape Journeys 8

ï 5G Monetization, 6G Research, and a Green Revolution 9

ï Semiconductors Embrace GenAI and Digital Twin Disruption 10

ï Sandbox for Leadership, Customer-Centricity, and Digital Differentiation 11

ï Unlocking Value as GCCs Evolve as Operational Powerhouses 12

ï AI Brings Efficiency, Objectivity, and Inclusivity to GCC Recruitment 13

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 Forecasting Technology Trends with GCC Leaders | 2024

NAVEEN GULLAPALLI
Global Head of Global Business Solutions
& Corporate Centres
-
Novartis

End-to-End Process Transformation

with GenAI

The top innovation shaping the Life Sciences and Pharma business is GenAI. In
2024, GenAI will be a catalyst for business transformation while continuing to
augment efficiency and effectiveness. Today most organizations use GenAI to test
ideas, build use cases, explore automation for repetitive work, reimagine supply
chains, support compliance and regulatory affairs with productivity gains, and make
this technology less bespoke.
The key change in 2024 is to look for opportunities to combine, link, and analyze
the individual use cases, and integrate them with other technologies for an
end-to-end process transformation to change our ways of working and
stay compliant.

The applicability ranges from research and clinical development,

manufacturing, quality, commercial, IT services to better experience for
employees, customers, and patients. A transformation at an enterprise
level will change the game in 2024 for our industry which is at an early
stage of exploring GenAI, an inevitable technological edge to have.

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 Forecasting Technology Trends with GCC Leaders | 2024

AMIT KALRA
Managing Director & Head Global
Business Solution Centres India
-
Swiss Re

Unprecedented Efficiency, Innovation,

and Transformation

I am quite excited about the possibilities emerging from GenAI, as it is expected to

have both an immediate and lasting impact on the insurance and reinsurance
sectors. It can help address some of the key industry-specific challenges such as
consumer engagement, processing unstructured data, high operational costs,
workforce augmentation, and the comparatively slow pace of digital disruption.

I firmly believe that GenAI isn't a mere tool; it's a gateway to

unprecedented innovation, efficiency, and transformation. The new
generation of Large Language Models can make complex, low-high
volume processes significantly more efficient, from underwriting to
claims management. AI copilots will make employees more productive
and decrease time spent on routine tasks.

The rapid advance of consumer chat interfaces leveraging such models can not
only improve customer experience and engagement but can also decrease the
barrier to integrating insurance services into adjacent business processes and
ecosystems, which ultimately could help the industry to close the protection gap.

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 Forecasting Technology Trends with GCC Leaders | 2024

SARISH PAUL
Director - Risk, Compliance,
Governance and Strategic Initiatives
-
Allstate India

Transforming Risk, Fraud, and Customer

Value in Insurance
The Property & Casualty insurance industry in the US has been undergoing a lot of
change over the last year and will continue to do so in the next couple of years.
Insurers have increased their traction across various digital channels and are
developing omnichannel strategies. The presence of Insurtech and other tech
companies in the space is challenging traditional insurance companies to up
their act.
AI & ML and their applications in the insurance industry will transform the same
as never before. Use cases like the first AI-enhanced lead underwriting model are
currently being piloted. There is also a lot of focus on fraud detection controls in
the industry and AI can play a crucial role in enhancing the same. With AI,
Risk assessments have become more robust, and these technologies are also
helping companies better predict the customer’s future value to the insurer,
thereby enabling companies to target those customers with personalized products
and services.

Having said this, insurance companies should continue to focus on

building their brand and enhancing the claims experience as that would
continue to be one of the topmost considerations for a potential
customer.

As we look forward to 2024, the rapid rise of generative artificial intelligence (Gen
AI), including large language models (LLMs) is creating new risks and regulatory
challenges for the business like proprietary information leaks, liability risks
associated with inaccurate content & outcomes, regulatory risk and so on.
Therefore, it is important to balance trade-offs between the potentially
questionable quality of Al tools' decisions or outputs and the competitive
advantages associated with the speed, efficiency, and scale they enable.

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 Forecasting Technology Trends with GCC Leaders | 2024

RAJESH PUNEYANI
GCC Site Leader

-
Kenvue

A Fresh Approach to Real-time Data

with Smart Packaging

Advances in AI, ML, and Deep Learning will enable CPG companies to offer more
personalized and customized products that include personalized nutrition, health
plans, and beauty products tailored to individual preferences, suitability, and style.

The widespread adoption of 5G technology along with integrated sensors and

IoT devices will lead to significant business transformation by improving
real-time data communication in manufacturing processes. This would trigger
the evolution of smart packaging even more and provide real-time information
about product freshness, usage, and other relevant data that would be
leveraged by medical practitioners and patients for not only enhancing the
customer experience but also optimizing the supply chain ecosystem, and
enhancing personalized marketing efforts.

Advancement in the area of Blockchain will provide transparency and traceability

throughout the supply chain which will be crucial for verifying the authenticity of
health and wellness products, ensuring compliance, and building trust
with consumers.
Sophisticated Data science and machine learning algorithms implemented on a vast
amount of retail data will help businesses solve a lot of problems related to product
recommendations, positioning of products on shelves, optimal utilization of shelf
space, stocking up the right products with the right quantity to drive strategies
related to acquisition of new customer and product segments fueling business
growth plans.
The integration of voice-activated devices and technologies will revolutionize
Voice-based interaction and voice Commerce and enable consumers to make
purchases using voice commands like Siri, Google, Alexa, etc.

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 Forecasting Technology Trends with GCC Leaders | 2024

MANI GANESHAN
Global Engineering Head
Travel Distribution and Head
-
Amadeus Labs India

AI, Automation, and Biometrics

Reshape Journeys

The travel industry stands at the forefront of a technological revolution, poised to

leverage emerging trends that promise to redefine business models, shifts in
customer expectations, and workforce demographics. Excitement surrounds the
transformative potential of cutting-edge technologies such as AI, automation,
and biometrics.
Looking ahead to 2024, AI and ML will enhance search capabilities, providing
travelers with intelligent itinerary recommendations and personalized options for
easy customization. GenAI is already bringing significant value to the online travel
planning and booking experience, offering consumers hyper-personalized and more
intuitive search and advice.

Beyond AI, our focus extends to automation, customized search solutions,

biometrics, and the evolving landscape of payments. The evolution of
biometrics is set to broaden identity verification at airports, moving beyond
travel documents to encompass comprehensive payment solutions throughout
the entire journey.

For instance, utilizing biometrics for check-in, baggage drop-offs, and boarding
could streamline payments for in-flight services. The fusion of these
advancements, coupled with travel solutions, will position us as trailblazers, setting
new standards for excellence in the dynamic world of travel technology.

As we navigate through 2024, this convergence promises a future where

journeys are seamless and highly personalized for travelers, marking a new era
in travel excellence.

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 Forecasting Technology Trends with GCC Leaders | 2024

ARUN GOPINATH
Head, MN Technology Center

-
Nokia Bangalore

5G Monetization, 6G Research,
and a Green Revolution

I foresee significant continuing investment in innovation in the Telecom Wireless

industry in 2024 and in the rest of the decade. The year will see continued focus on
developing features for 5G and 5G Advanced to help provide more delight to
customers and importantly more monetization to operators.

5G deployments are expected to cover more than 75% of India by the end of
2024 – in parallel, research on 6G which is in its nascent stage will gain
momentum, paving the way for exciting innovations in areas like wireless
sensing, hyper connectivity and ultra massive connectivity.

We are also excited about the transformative ability of Cloud RAN networks and
the use of Generative AI in Telecom Networks and applications. One other major
trend will be the focus on sustainability and renewable energy.

Innovative times ahead for the Telecom Industry!

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 Forecasting Technology Trends with GCC Leaders | 2024

SHIVANANDA R
KOTESHWAR
Vice President & EDA Group Site Head
-
Synopsys India

Semiconductors Embrace GenAI and Digital

Twin Disruption
GenAI is probably our generation’s most disruptive innovation, and it can potentially
shape humanity’s future. The semiconductor industry is right at the forefront to
enable this transformation journey around optimization, analytics, assist and
co-creation. The focus would be on combining EDA Domain Knowledge and GenAI
Expertise to Revolutionize Chip Design.

The other area is the Digital twin technology. Digital Twin offers huge potential
in our industry through its ability to simulate the entire fab and manufacturing
processes, and models to improve efficiency and productivity. Companies will
be looking to transform various aspects of the manufacturing process.

AI Hardware acceleration, advanced packaging technologies, sustainable

semiconductors, The rise of edge computing and the human-machine interface
revolution are the areas we need to watch out for.
The top innovations shaping the semiconductor business in the coming year is
around the high-value problems (HVP) our customers are facing like:

1. Challenges while they march to the Angstrom era

2. Multi-Die heterogeneous integration nuances and expertise
3. Rapid node migration demanding a high level of change management
4. With costs going up, increased importance of Right First-Time silicon
5. 99.999% reliability as Chips are supporting critical applications and products
6. 1000x reduction in energy
7. Autonomous chip design

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 Forecasting Technology Trends with GCC Leaders | 2024

KS VISWANATHAN
VP, Industry Initiatives

-
NASSCOM

Sandbox for Leadership, Customer-Centricity,

and Digital Differentiation
2024 emerges as a pivotal phase marked by a notable surge in trust, a more
extensive globalization of operational models, substantial advancements in global
leadership equity, and a remarkable increase in emerging global leadership roles
originating from GCCs.
The central role played by India in these transformations is particularly heartening,
driven by a consistent supply of relevant, diverse, young & scalable talent pools.
Additionally, the emergence of pivotal roles like customer growth officers from
within GCCs, harnessing the vast trove of enterprise-generated data and insights, is
instrumental in propelling this revolution forward.

These advancements have spurred the addition of over 50 GCCs from India in
FY24, highlighting the pressing need for global enterprises to harness digital
technologies and customer-centricity as core drivers for differentiation. The
increasing relevance of GCCs to parent enterprises is evident, with a focus on
advancing up the value chain, fostering a sandbox for future leaders, and,
above all, amplifying the impact of the GCC model on parent enterprises to
quadruple its current estimated impact of 3X.

Across various industry segments such as Banking, Financial Services, Insurance,

Retail, CPG, Healthcare, Medtech, Pharmacy, Automobile, Aerospace, and Energy,
there's a discernible shift underway.
As we navigate through 2024, the interactive synergy between Technology,
Leadership, and People capabilities will foster a unified enterprise with distributed
leadership and work processes, serving as the key differentiator for GCCs in their
global enterprises.

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 Forecasting Technology Trends with GCC Leaders | 2024

LALITHA INDRAKANTI
CEO, Jaguar Land Rover Technology
and Business Services India

Jaguar Land Rover

- Unlocking Value as GCCs Evolve

as Operational Powerhouses
GCCs have evolved to lead enterprise transformational initiatives and build new
capabilities for their parent organizations. While this level of maturity may not be
consistent across the board, what is indisputable is that there is demonstrated and
deep expertise in leading GCCs from India. We have moved on the leadership
maturity curve to truly challenge and improve the way parent organizations
conceive and get value from their GCCs.
Organizations today tend to be clearer on their transformation and operational
needs than ever before, GCCs are poised to deliver on “Prove Locally-Move
Globally”.
Today it is a given that any organisation that wants to derive value from the GCC
construct will recognise upfront that the game is beyond cost-arbitrage and now
about capability/value arbitrage. The good-to-great differentiator now lies within
factors such as having robust board sponsorship and the collective imagination to
see the longer arc of value creation.

The next big Pareto for organizations with GCC to establish a new GCC will be
anchored to operational excellence. With that in mind, the top four areas of
pursuit in 2024 will include:

1. Position the GCC as the hub of niche and new capabilities with a view
of transforming the core offering.
2. Data is truly the new oil. Multi-functional colocation affords the GCC the right
vantage point to create consumable business insights that will inform
strategic growth.
3. Cross-functional efforts to generate multi-pronged and optimized offerings.
4. GCC employees increasingly have been seen to leverage low-to-no code
technologies to quickly implement ideas that bring empirical operational value
to the parent org.

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 Forecasting Technology Trends with GCC Leaders | 2024

VIKRAM AHUJA
Managing Director, ANSR
Co-founder & CEO, Talent500
-
ANSR | Talent500

AI Brings Efficiency, Objectivity, and Inclusivity

to GCC Recruitment

AI's ascendancy in 2024 marks a revolution in recruitment, reducing screening time

by 45%-55% through Natural Language Processing (NLP), ensuring swift
identification of the best-fit candidates.

Predictive analytics further transforms hiring, leveraging past data to forecast

outcomes, enhancing decision-making on offer acceptance and employee
tenure. The true marvel of AI lies in fostering inclusivity and transparency,
eliminating biases in hiring processes. The fusion of efficiency and human
touch is pivotal for success.

Simultaneously, 2024 witnesses the rise of GCCs as global operational

game-changers, with India leading the charge, contributing over 50 new GCCs last
year. The interactive synergy between Technology and Leadership propels GCCs
into a new era, amplifying their impact on parent enterprises.

As industries redefine themselves through AI and GCCs, businesses are poised for
unparalleled efficiency, personalization, and sustainability.

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About ANSR
ANSR is the market leader in enabling organizations to build,
manage, and scale global teams through Global Capability
Centers (GCCs). ANSR's suite of end-to-end AI-enabled
products and offerings are trusted by the world's best
companies to help them set up, manage, and run their
high-impact technology centers.

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