Artificial Intelligence (AI) adoption rate has skyrocketed in the recent past, every industry adopting AI is experiencing a significant transformation. The ‘State of AI in India’, a report by Deloitte has classified the AI adoption by Indian industries, the report states that the Indian retail industry is the highest adopter of AI technologies and services, followed by the telecom and fintech industry.
India is among the top 10 nations in the world, ranking 7th when it comes to AI adoption. A study published by The Brookings Institution, states, that India is ‘well-positioned from the funding standpoint’ apart from increasing the adoption of new generation technologies across all sectors. The study proposes that funding can help India in leveraging AI innovations, which can also result in positioning India in a better position and can overtake other leading nations.
AI’s adoption is not just limited to any industry, medical and aviation sectors are also using AI to advance their services. Wherever AI outperforms human efforts, opting for AI automation will prove key to slashing costs in the long run for businesses. According to the same report, in addition to advanced acceptance of next-gen technologies, India is ‘ideally positioned from a financial aspect’. This facet allows the nation to achieve rapid AI technology developments and be at par with countries that are currently giant AI leaders. Of all advanced technologies that drive socio-economic impact, artificial intelligence is well on its way to becoming the strongest contender to drive growth in the future.
While still in its nascent stage, AI will add $500 billion to India’s GDP by 2025. A research study by Price Waterhouse Cooper indicates that artificial intelligence would be a fundamental technology in the future. Most of the industries would work with the technology at their fulcrum.
Top industries which rely on (AI) Artificial Intelligence in India
Healthcare: Artificial intelligence is already arriving as a game-changer in the healthcare sector. IBM’s ‘Cognitive Supercomputer’ quickly diagnosed the presence of a rare type of leukemia in a patient that even doctors could not after months of study. With electronic health records in place, artificial intelligence and machine learning systems only make personalized healthcare a reality today.
Creative Advertising Services: With every online ad, artificial intelligence algorithms allow brands to learn more about what is appropriate for their customers. This allows savvy marketers to stand out in a competitive advertising landscape.
Financial Sector: Financial sector has always required one of the most precise forms of computing systems in place. As far as AI is concerned, the financial sector would lean heavily on the systems powered by such advanced technologies to catch fraudulent transactions and pave way for safer & secure online transactions.
Manufacturing Industries: The manufacturing industry has many aspects that AI-based bots or systems could fix. From robot-driven assembly lines to intelligent systems that can predict machinery malfunctioning, AI is all set to become an inevitable necessity for manufacturing industries.
The future of AI in India
To recognize India’s technological innovations and milestones, Meity, NeGD and NASSCOM joined hands to launch a report, ‘75@75 – India’s AI Journey’ showcasing use cases of AI across all sectors spanning healthcare, agriculture, education, governance, and financial services. As per the report, critical global industries adopting artificial intelligence include software services, product development, and contact center automation. The compendium contains 75 use cases of AI, to name a few:
a) India’s AI-Enabled Corona Helpdesk: The beginning of the worldwide pandemic gave rise to a frenzied wave in the nation, so the government willingly volunteered to control the spread of misinformation. The problem gave rise to a solution ‘MyGov Corona Helpdesk’, built by Haptik – a conversational AI company. This Intelligent Virtual Assistant (IVA) is an AI-controlled WhatsApp chatbot that carries exact data to the fingertips of the users. This was set up with the critical goal to offer a day in and day out helpdesk that addressed Covid questions and forestalled the spread of misleading data/ misinformation.
b) India’s Fastest Supercomputer Param Siddhi AI: In November 2020 India’s most broad High-Performance Computing (HPC) AI supercomputer PARAM SIDDHI AI, authorized by C-DAC, was ranked at the 62nd position in the Top 500 rundown. Param Siddhi AI’s superior process capacities, an experienced HPC AI system, and AI libraries in Software Development Kit (SDK) will kick off research endeavors and back new companies to execute large-scale projects. It will be prepared to make such enormous scope headways in medical care, agritech, network protection, mechanical technology, etc. With Param Siddhi AI being universally positioned in the leading 100 supercomputers, India denotes its predominance in the AI domain.
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1. India Among Top 10 Global AI Adopters, Poised To Grow Sharply: Study | IBEF
3. State of AI in India (deloitte.com)
4. 75@75 India’s AI Journey | Ministry of Electronics and Information Technology, Government of India (meity.gov.in)
5. How countries are leveraging computing power to achieve their national artificial intelligence strategies (brookings.edu)