According to industry body National Association of Software and Services Companies (NASSCOM), investments in artificial intelligence (AI) applications in India are expected to grow at a compound annual growth rate (CAGR) of 30.8%, reaching $881 million by next year. Will reach to.
The industrial and automotive manufacturing sector has been the highest adopter of AI and automation, but overall, India still has a long way to go in terms of maturity in AI adoption by enterprises across sectors, NASSCOM has called ‘AI’ Titled in his report. Adoption Index’ was published on Thursday.
The Nasscom report, published in partnership with consultancy Ernst & Young (EY), Microsoft, US data analytics firm EXL and tech services company Capgemini, conducted a market survey to prepare the AI Adoption Index—a score that would define adoption. How mature is the AI industries.
The scale is divided into four parts – ‘explorers’ for early stage AI adoption, ‘enthusiasts’ for new adopters of AI technology in the business framework, ‘experts’ for cross-industry collaborators, and ‘AI innovators’ for Evangelist’ Build Your Own Products and Solutions.
On this scale, NASSCOM said that India stands at the ‘enthusiastic’ grade, with even its most advanced AI adopters falling in this grade.