The advent of artificial intelligence (AI) holds immense potential to revolutionise the global business landscape, empowering astute individuals and organisations to adopt smarter, more efficient ways of operating.

In a special edition of Media Dialogues, CNBC-TV18 engaged in a conversation with industry leaders to delve into the effective implementation of AI-driven tools across various sectors. M V S Murthy, CMO of Federal Bank; Jagdish Ramaswamy, President & CDO at Hindalco Industries; Leandro Perez, CMO of APAC at Salesforce; Sameer Shetty, Head of Digital Business and Transformation at Axis Bank; and Sumeet Bhojani, Head of Marketing Communications at Godrej Interio, shared their insights on practical applications of this disruptive technology, encompassing customer service, predictive analytics, design and product innovation, personalized marketing, content creation, and more.

AI coupled with generative technologies empowers marketers to deliver hyper-personalised content to customers with remarkable speed.

Nevertheless, experts emphasise the necessity for brands and organizations to establish strict guardrails and prioritise data privacy protection.

The Telecom Regulatory Authority of India (TRAI) issued a series of recommendations on July 20th, aimed at establishing a regulatory framework for the utilization of artificial intelligence within the country.

TRAI's suggestions involve the establishment of an independent statutory body, known as the Artificial Intelligence and Data Authority of India (AIDAI), which will be primarily responsible for developing regulations and guidelines to ensure the responsible implementation of AI across different sectors.

The key focus of AIDAI will be to formulate regulations that promote the ethical and accountable usage of AI technologies. These regulations will encompass guidelines to protect individual privacy, foster fairness and transparency, and prevent any biases or discrimination within AI-driven systems.

Watch video for entire conversation.

(Edited by : Pradeep John)