AS INDIA APPROACHES its centenary celebration of independence in 2047, it’s truly remarkable to reflect on our progress. Global capability centres (GCCs) have undergone a remarkable transformation from being considered mere cost centres to evolving into cradles of innovation, driven by the transformative impact of artificial intelligence (AI). This evolution represents more than just shifting numbers or projections—it’s a profound change in our approach to business and innovation. Generative AI could boost India’s GDP by $359-438 billion by 2030, representing a 5.9-7.2% increase. Over seven years, the cumulative impact could reach $1.2-1.5 trillion, adding 0.91.1% to annual growth, according to EY. Given India’s strong position as a tech services provider, Gen AI alone could contribute over $100 billion to the economy. India boasts the highest AI skills penetration, with three times more AI-skilled talent than other countries. Over the past seven years, there has been a 14-fold increase in individuals skilled in AI.
This story is from the September 15, 2024 edition of Business Today India.
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This story is from the September 15, 2024 edition of Business Today India.
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