Artificial Intelligence (AI) is revolutionizing industries and economies worldwide, and India is emerging as a key player in this transformative journey. With strategic investments, a burgeoning talent pool, and supportive government policies, India is well on its way to becoming a global powerhouse in AI. Let’s delve into India’s AI landscape, highlighting its rapid progress, key drivers, and future prospects, as well as expert insights from industry leaders.
▾ India’s AI Market: A Growth Trajectory
India’s AI market is on a fast track to significant growth. According to a joint report by Nasscom and Boston Consulting Group, India’s AI market is expected to reach $17 billion by 2027, with an annualized growth rate of 25-35% between 2024 and 2027. This explosive growth is driven by several factors:
Surging Enterprise Tech Spending:Companies are increasingly investing in AIpowered solutions to optimize operations, enhance efficiency, and gain a competitive edge.
Thriving Talent Pool:With over 420,000 individuals holding AI-related positions, India is a global leader in AI skill penetration.
Rising Investments: Both private and public entities are pouring money into AI research and development, creating fertile ground for innovation and growth.
The AI Boom: Key Drivers
▾ Surging Enterprise Tech Spending
India’s enterprise sector is embracing AI at an unprecedented rate. Businesses across various industries are deploying AI solutions to streamline operations, improve decision-making, and offer personalized customer experiences. AI-powered tools are transforming sectors like finance, healthcare, agriculture, and retail, driving efficiency and innovation.
▾ Thriving Talent Pool
This story is from the July 2024 edition of PCQuest.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2024 edition of PCQuest.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Revolutionizing The Future Of Machine Learning
Quantum algorithms will revolutionize machine learning by end of this decade, significantly enhancing optimization and pattern recognition, with potential breakthroughs in drug discovery and materials science
How to choose the best gaming smartphone in 2024
Discover the essential features and top picks for gaming smartphones in 2024, ensuring every gamer can find the perfect device to enhance their mobile gaming experience
BOSTON LEVIN Storm AIRMAX Earbuds
In the ever-evolving world of wireless audio technology, the Boston Levin Storm AIRMAX earbuds emerge as a promising contender, especially given their current promotional pricing.
WearPods
The WatchOut WearPods is an innovative smartwatch that stands out by integrating True Wireless Stereo (TWS) earbuds into its design. Priced at ₹5,999, this device offers a blend of fitness tracking, music storage, and smart features aimed at the modern, on-the-go individual.
Safeguarding data in the age of AI and digitalization
Cybersecurity is critical for GCCs in fintech, facing evolving threats like AI-powered attacks and ransomware. GCCs are adopting AI-driven defenses, zero-trust architecture, and quantum-resistant cryptography while enhancing employee training to protect against these risks
The power of observability in decrypting cyber threats
Cybersecurity is critical for GCCs in fintech, facing evolving threats like AI-powered attacks and ransomware. GCCs are adopting AI-driven defenses, zero-trust architecture, and quantum-resistant cryptography while enhancing employee training to protect against these risks
The role of audio quality in effective business communication: Why every word matters
High-quality audio is crucial for effective business communication in the digital age. Investing in superior audio tech enhances communication and offers a competitive edge. Focus on audio quality in calls and presentations—it’s key to understanding, connecting, and succeeding
How cloud computing and AI chips are shaping the future of data management
Data is rapidly growing, expected to hit 175 zettabytes by 2025. Cloud computing and AI chips are transforming data management, offering scalable storage, high availability, and enhanced processing. Companies like Netflix and Amazon leverage these technologies to handle data efficiently, ensuring future success
How electric vehicles are redefining environmental responsibility
India’s EV sales soared past one million in 2023, driven by eco-conscious consumers, government initiatives, and urban innovation. With rapid industry growth, expanding charging networks, advancing battery tech, and ensuring affordability are crucial for sustaining this momentum
How to protect your online gaming accounts?
In today’s digital age, online gaming has exploded in popularity, attracting millions to virtual worlds. However, this surge also attracts cybercriminals targeting gaming accounts for financial gain and personal data. Protecting your online gaming accounts is essential to prevent unauthorized access, digital asset theft, and personal information breaches
