{"id":13838,"date":"2024-05-12T18:57:53","date_gmt":"2024-05-12T18:57:53","guid":{"rendered":"https:\/\/news.websitemodel.co.in\/?p=13838"},"modified":"2024-05-13T20:59:59","modified_gmt":"2024-05-13T20:59:59","slug":"indias-ai-market-projected-to-touch-17-billion-by-2027-report","status":"publish","type":"post","link":"https:\/\/deccandawn.in\/index.php\/2024\/05\/12\/indias-ai-market-projected-to-touch-17-billion-by-2027-report\/","title":{"rendered":"India’s AI market projected to touch $17 billion by 2027: Report"},"content":{"rendered":"\n

India\u2019s artificial intelligence (AI) market is projected to grow at a 25 per cent compound annual growth rate (CAGR) to reach about $17 billion by 2027, according to a report by Nasscom and the Boston Consulting Group.\u00a0<\/p>\n\n\n\n

This growth will be fueled by multiple factors, including increasing enterprise tech spending, India\u2019s growing artificial intelligence (AI) talent base, and a significant increase in AI investments, according to the report titled “AI Powered Tech Services: A Roadmap for Future-Ready Firms; AI and GenAI’s Role in Turbocharging the Industry.”<\/p>\n\n\n\n

India is among the top five nations with 14 times the growth in individuals skilled with AI in the last seven years, and the country boasts the second-largest talent pool in AI, with 420,000 employees engaged in various AI job roles, the report said.<\/p>\n\n\n\n

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  • India is among the top five nations with 14 times the growth in individuals skilled with AI in the last seven years<\/mark><\/strong><\/li>\n\n\n\n
  • The country boasts the second-largest talent pool in AI, with 420,000 employees engaged in various AI job roles<\/mark><\/strong><\/li>\n\n\n\n
  • The skill penetration is also the highest, with three times more AI-skilled talent than in other countries<\/mark><\/strong><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n

    The skill penetration is also the highest, with three times more AI-skilled talent than in other countries. As investments in AI continue to increase, the demand for AI talent in India is also expected to grow at a 15% CAGR till 2027, according to the survey.<\/p>\n<\/div><\/div>\n\n\n\n

    Several top companies are making significant investments in upskilling and reskilling their employees in AI and other related technologies, setting aside $1 billion for this initiative over the next three years. This shows how crucial human resources are to the advancement of AI.<\/p>\n\n\n\n

    \u201cWith the advent of Gen-AI, Indian tech companies are expanding their portfolios beyond traditional IT and business process management to include AI-driven analytics, intelligent automation, and personalized customer interactions. These companies are not just adopting AI; they are redefining their service offerings, creating more value for their clients, and setting new industry standards,\u201d Nasscom president Debjani Ghosh said.<\/p>\n\n\n\n

    \u201cAccelerating this journey will require massive-scale investment in AI skilling, investments in ethical and secure AI development practices and governance frameworks, and a fundamental shift towards a human-centered approach, prioritizing transparency and human oversight,\u201d she added.<\/p>\n\n\n\n

    Globally, investments in AI have grown at a CAGR of 24 per cent since 2019, with $83 billion invested in 2023. The majority of these investments have been channeled to AI applications in data analytics, GenAI, machine learning algorithms, and platforms, according to the report.<\/p>\n","protected":false},"excerpt":{"rendered":"

    India\u2019s artificial intelligence (AI) market is projected to grow at a 25 per cent compound annual growth rate (CAGR) to reach about $17 billion by 2027, according to a report by Nasscom and the Boston Consulting Group.\u00a0 This growth will be fueled by multiple factors, including increasing enterprise tech spending, India\u2019s growing artificial intelligence (AI) […]<\/p>\n","protected":false},"author":2,"featured_media":13839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-13838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sciencetech"],"_links":{"self":[{"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/posts\/13838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/comments?post=13838"}],"version-history":[{"count":2,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/posts\/13838\/revisions"}],"predecessor-version":[{"id":13895,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/posts\/13838\/revisions\/13895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/media\/13839"}],"wp:attachment":[{"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/media?parent=13838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/categories?post=13838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/deccandawn.in\/index.php\/wp-json\/wp\/v2\/tags?post=13838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}