A senior company executive stated that India is one of the most priority markets for Oracle NetSuite. He also noted that small businesses in India, especially outside major metropolises, are increasingly using artificial intelligence (AI) and cloud technologies to expand into new territories, including abroad.
During the Oracle AI World event, speaking to PTI, Amit Suksen, Vice President of Group and Head of Asia at Oracle NetSuite, the AI-powered business management platform, reported on the growing pace of development among Indian enterprises over the last four to five years.
Suksen emphasized that one of India's significant advantages is its young population, which is inherently oriented towards using cloud and AI technologies, unlike some other developed economies that prefer using outdated systems.
He added that technology helps bridge the gap between large and small firms, allowing small businesses to grow beyond their original city. Previously, studying a new market required expert teams only in large companies; however, now small businesses can use AI to check rules and regulations of another state, make decisions about entering or exiting a market, and manage fluctuations such as currency changes.
Suksen identified tier-two cities as the biggest opportunity for the company's growth in India but pointed out that cost concerns restrain small traders and entrepreneurs in these regions. He reported that conversations with business owners showed that technology adoption in cities outside the main metropolises lags due to fear of expenses, and NetSuite aims to demonstrate to these businesses that implementing AI is not as expensive or complex as they think.
In addition to tier-two cities, the company optimistically views sectors such as software, accounting, insurance, as well as manufacturing, retail, and food and beverage. Regarding concerns about uncontrolled behavior of AI agents, Suksen stated that strict control is critical. He explained that the risk exists for organizations that have not implemented all necessary checks and balances, but NetSuite provides built-in rules ensuring complete owner control over the actions the AI agent performs on their behalf.
Comparing the situation to the shift to cloud computing 28 years ago, Suksen noted that companies remaining on old local systems are 'truly behind,' while those who adopted cloud solutions early are outpacing competitors. He advised everyone to adopt AI now, as refusing to do so means missing a growth opportunity that allows for doing things previously unimaginable.
