AI tools like ChatGPT open new possibilities: Sunil Mittal
What's the story
Sunil Bharti Mittal, the founder and chairman of Bharti Enterprises, has said that artificial intelligence (AI) tools like ChatGPT are opening up new business opportunities. Speaking at a Goldman Sachs event, he emphasized that technological disruptions can create opportunities for businesses willing to adapt. "Even ChatGPT has exposed a company like ours to new possibilities," he said, highlighting the impact of emerging technologies on various industries including telecommunications.
Tech evolution
Opportunities keep coming through the door, says Mittal
Mittal recalled his transition from manufacturing bicycle parts in Ludhiana to launching push-button phones in India in the 1980s, and later venturing into mobile telecommunications.
He stressed that identifying opportunities at the right time has been key to Bharti's growth, even when competing against bigger players.
"The lesson is that opportunities keep coming through the door. You have to identify them at the right moment and then run with them," he said.
Capital significance
Raise capital to build investor confidence
Mittal also stressed the importance of raising capital and building investor confidence when pursuing new technologies and business opportunities.
"You need to be convincing enough about your story, your product, service or idea that you can get people to put money on the table," he said.
This highlights how crucial it is for businesses to not just identify but also effectively communicate their innovative ideas to potential investors.
Future outlook
India will become 2nd- or 3rd-largest economy
Looking ahead, Mittal expressed optimism about India's economic prospects, saying the country's young population and entrepreneurial energy would create significant opportunities over the next two decades.
"We will probably see India rise to become the second- or third-largest economy in the world," he said.
His comments highlight a positive outlook for India's growth potential, driven by its youth and innovation-driven spirit.