Indian MSMEs Wary Of AI Leap Due To Data Privacy Concerns: Tally Solutions MD Tejas Goenka

SUMMARY

Trusting AI remains a key challenge for small and medium-sized businesses due to data-related concerns

Since most AI tools today are predictive and much of the data remains unstructured, AI can sometimes produce inaccurate results: Goenka

Tally Solutions has started integrating AI into various products since last year to enable simpler user experiences with minimal human intervention

While enterprise solution companies are in the process of deploying GenAI, Tejas Goenka, the MD of Tally Solutions has said that trusting the emerging tech remains a key challenge for small and medium-sized businesses due to data concerns.

Goenka said this during a fireside chat, Leveraging AI to Empower MSMEs in a Digital-First Economy, moderated by Kshitij Shah, the CTO of Ratnaafin Capital.

“While there is enthusiasm around AI, there are also concerns on how the sensitive data of businesses is being used,” the Tally Solutions MD said.

He added that since most AI tools today are predictive in nature and much of the data remains unstructured, AI can sometimes produce inaccurate results.

Despite these concerns, Tally Solutions has started integrating AI into various products since last year to enable simpler user experiences with minimal human intervention, allowing businesses to access their data via WhatsApp or interact with it through an AI tool — all without compromising on privacy.

Goenka added that a key challenge would be catering to the Indian market, where much of the hardware used by businesses, including laptops and PCs, is still outdated and lacks strong computing infrastructure, yet is expected to deliver a reasonably good experience.