- Recent research shows India is more mature in leveraging AI than the US or the UK.
- Indian businesses are able to stand out of the crowd by maximizing education about AI and also through internal communication.
As the world shifts more toward digital avenues for sectors ranging from banking to healthcare, artificial intelligence (AI) has risen to prominence as the tool that enables smooth transition and operations. According to a recent study conducted in collaboration with the Centre for Economics and Business Research (CEBR), India as a market is more mature for leveraging AI than the United States or the United Kingdom. This follows a recent statement by Union Commerce and Industry Minister Piyush Goyal, who stated that AI will help India become a developed nation by 2047.
India’s AI-readiness overtakes the US
Based on the inaugural Decision Intelligence (DI) Maturity Index report released by UK-based firm Peak and shared by INDIAai, the United States was an early leader in AI (as is generally the case with most tech-focussed innovations). According to the study, 28 percent of US businesses have adopted AI technology in the last six years. In comparison, 25% of Indian businesses have done the same, while 20% of businesses in the UK have.
The report did note, however, that when it comes to leveraging AI, India is a more mature market. Peak’s DI maturity scale gave it a score of 64 out of 100, while the US received a score of 52 and the UK received a score of 44.
Peak requested input from 3,000 decision-makers with at least 100 employees in India, the United States, and the United Kingdom for the study. Commercial AI readiness has been graded on a scale of zero to 100 in five categories: decision-making, strategy, data and technology, people and process, and value. This indicates whether a company is ready to adopt, deploy, and leverage AI-assisted decision intelligence.
What is India doing to enhance AI’s reach?
The Peak report noted that in terms of AI usage, Indian businesses are able to stand out of the crowd by maximizing education about AI and also through internal communication.
According to the survey, 18 percent of US workers were unsure whether their companies used AI at all, compared to just 2 percent in India. Furthermore, 28 percent of Indian junior staff believe AI will benefit workers in the next five years, compared to 47 percent in the US.
In terms of maturity, the AI industry is second only to IT, computer, and technology, with a mean score of 56 across India, the United States, and the United Kingdom.
AI to act as a ‘catalyst’ in India’s transformation
During his address at the Global Artificial Intelligence Summit & Awards in October, Goyal said, “AI will act as a catalyst in India’s journey towards becoming a developed nation by 2047 and bring prosperity to every citizen in the country.”
Goyal added that when combined with the ‘Make In India’ vision, AI can help India provide a platform to develop technology and equipment that can be shared with other countries as needed. He said that several of the government’s projects and schemes are already using AI to the fullest, including the likes of the Unified Logistics Interface Platform (ULIP), PM-GatiShakti National Master Plan, Open Network for Digital Commerce (ONDC), and Government e Marketplace (GeM).
According to a recent report by the Internet and Mobile Association of India (IAMAI), Microsoft, and Bain & Company, India has the world’s third-largest AI talent pool, at 16%. Much of this demand has come from micro, small, and medium-sized enterprises (MSME), which are constantly on the lookout for AI contractors.
Even India’s defence sector, particularly the Indian Navy, intends to incorporate AI-based technology in critical mission areas.
India is still a developing market for AI, and it must maintain a constant demand-supply ratio for AI talent. However, given recent developments, it is clear that the age of AI has arrived and will remain.
Courtesy : https://news.abplive.com/
