The Mahindra Group has recently announced the appointment of Devendra Sharnagat as the Senior Vice President of its AI Division. In his new role, Sharnagat will be responsible for leading the centralised data and AI expertise pool, driving AI initiatives across all of the group’s companies. With his extensive experience in data-driven decision-making, Sharnagat is expected to accelerate the group’s AI strategies.
Prior to this, Sharnagat served as the chief data and analytics officer at Mahindra Finance, where he spearheaded data analytics functions to enhance business efficiency and productivity. He has also held various roles at Direxions Marketing Services, HDFC Bank, and Kotak Mahindra Bank, managing analytical projects across different financial portfolios.
At HDFC Bank, Sharnagat was the Assistant VP of Marketing Analytics and led a team of business analysts, overseeing analytical projects for various portfolios such as Liability Products, Direct Banking Channels, Premier Banking, Depository Services, Forex Services, and Prepaid Cards. His primary role involved developing strategic analytical frameworks to achieve the annual business goals for these portfolios.
In September, Mahindra Group announced the launch of a dedicated AI unit, aimed at integrating AI into various business operations. This move seeks to centralise AI efforts and position the division at the corporate level to serve all group companies, including Mahindra & Mahindra (automotive), Mahindra Lifespace (real estate), and Mahindra Holidays (hospitality). Bhuwan Lodha, who previously led digital operations in Mahindra’s automotive business, is heading the new AI division. Initially, the division will source AI talent from within the group’s companies.
According to Lodha, “AI projects became side hustles for every IT team in every company. Now we are bringing it mainstream,” highlighting the focus on consolidating AI initiatives. The AI division will also collaborate with Tech Mahindra, the group’s IT services arm, which has been actively working on building AI models in India, such as Project Indus, to leverage domain expertise and global innovations from startups and universities.
In conclusion, the appointment of Devendra Sharnagat as the Senior Vice President of the AI Division at Mahindra Group is a strategic move to centralise and accelerate the group’s AI initiatives. With his extensive experience and expertise in data-driven decision-making, Sharnagat is expected to drive the group’s AI strategies and contribute to its overall growth and success.
