Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

AI Adoption Has Potential to Add $90 Bn to Indian Economy by 2025: Report

Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Artificial Intelligence (AI) has the potential to add nearly $90 billion to the Indian economy by 2025; a new report showed on Wednesday.

During the pandemic, India has reported the highest use of AI at 45 percent, compared to other major economies (the US at 35 percent, the UK at 23 percent, and Japan at 28 percent).

“In fact, AI startups in India attracted total funding of $836.3 million in 2020. Also, despite the total number of high-value funding shrunk, the companies that received funding almost doubled in 2020 compared to 2019,” according to homegrown independent Transaction Advisory firm RBSA Advisors.

“The future of Indian ecosystem is poised to witness the rapid penetration and adoption of AI and investors should make full use of this opportunity,” said Rajeev Shah, MD, and CEO of RBSA Advisors.

According to the study titled ‘Artificial Intelligence and Its Role in Delivering Economic Value to Indian Enterprise, investment in AI has accelerated in India during the pandemic and the country has the potential to be a global epicenter of AI.

IT services and technology sectors contribute to more than 60 percent of the AI market, followed by BFSI, engineering, and retail.

The findings showed that the BFSI sector has recorded the highest adoption (20 percent) due to the increasing penetration of digital banking and cashless payments in India.

“Energy and utilities and retail sectors report adoption of 15 per cent each with lot of untapped market opportunities for AI penetration, followed by pharma and healthcare, telecom, manufacturing and other sectors,” it added.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic