Every company is now a data entity; however, many are ill-equipped to operate as one, says Vijayant Rai, MD for India at Snowflake, an American cloud-based data storage company. India is now one of its fastest-growing markets, driven by increasing demand for data and AI solutions. In this interview, Rai shares with Sudhir Chowdhary his insights on sectors expected to experience growth in AI this year, as well as his firm’s India expansion plans. Excerpts:

Where do you see AI adoption speeding up within the BFSI sector?

Over the years, BFSI organisations in India have explored use cases around chatbots propelled by the prominence and rapid adoption of tools like ChatGPT, making GenAI the technology to transform their customer experience. However, there is a growing acceptance that chatbots are just one element of GenAI. Companies in the BFSI industry are using Snowflake’s AI Data Cloud for Financial Services to launch new customer-centric products and services, and build fintech platforms of the future.

What are some common barriers to GenAI adoption?

Data is the foundation for AI. With the rise of GenAI, datasets are being created at unprecedented speeds that require them to be tailored to specific business needs. Enterprises need a unified source of truth, the ability for every individual within the organisation to tap into data securely and in a governed way without relying on technical resources. Snowflake Cortex AI is a set of AI tools that help users analyse data and build AI applications.

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What are Snowflake’s big bets for India in 2025?

Snowflake has rapidly expanded in India, with over 600 employees across our sales and marketing and the Pune Centre of Excellence. This year, we will invest in growing our India business and hiring talent to accelerate growth opportunities. We are betting on BFSI, SME, manufacturing, logistics, retail, public sector, and CPG. A key part of our growth strategy also emphasises building a robust ecosystem of partnerships – hyperscalers, global consulting companies, and regional system integrators.

What role does the Pune centre play in global R&D map?

Our Pune centre of excellence houses a team of corporate IT professionals, global customer and product support teams based in Pune and Bengaluru, and finance and operations teams. The teams actively collaborate with partners to co-create industry-specific assets and solutions, enhancing client value and enabling partners to scale efficiently on the platform. In Pune, we want to expand and create a dedicated team to engage with GCCs as India becomes a global R&D hub.