Artificial Intelligence (AI) is poised to revolutionize various industries, offering not only increased efficiency but also fostering creativity. According to Steve McMillan, president and CEO of Teradata, AI adoption will not lead to job losses but rather create numerous employment opportunities. However, the success of AI depends on the quality of data, emphasizing the importance of trusted and harmonized data to prevent AI hallucinations.Despite the implementation of automation and robotic automation, the automotive industry continues to thrive, contributing significantly to the global economy.

McMillan believes AI holds similar potential, projecting a substantial $4 trillion boost to the global economy, which could double to $8 trillion with productivity and efficiency improvements. This presents a massive opportunity for countries like India to capitalize on.In terms of IT spend, data analytics and AI are expected to take the lead globally, surpassing cybersecurity and cloud investments. Teradata focuses on industries such as banking, financial services, government, transportation, and healthcare, aiming to disrupt sectors with vast amounts of data. With a considerable portion of its global workforce based in India, Teradata acknowledges the country's skilled workforce and continues to invest in analytics, AI, and machine learning capabilities.