Where does India stand in the global AI race?

Countries such as China, the US, South Korea, and Russia are investing huge sums of money to develop their AI technologies. On the other hand, India is also picking up its pace and entering the race of AI.

Artificial Intelligence is indeed the next big thing that would dominate the world. Even the top IT companies have now declared that AI is the future. Countries such as China, the US, South Korea, and Russia are investing huge sums of money to develop their AI technologies and other policy strategies related to the same. On the other hand, India is also picking up its pace and entering the race of AI.

According to a global survey conducted by the Chartered Institute of Management Accountants (CIMA), a UK based professional body, India ranks on the third position in the global AI race. India is among the top countries that are implementing robotic automation in their business processes.

As per the study, around 64 per cent of finance professionals from India are encouraged to increase automation as it is helpful for them in saving their time, indecision process, and also money. Across the different sectors in the Indian industry, the adoption of the latest technology for promoting automation and AI is indeed a welcoming step.

The development of IT infrastructure has led to the growth of the artificial intelligence market in India. Various smartphones and variables are now being accompanied by AI technology, and hence, this has led the countries to adopt AI technology.

If India gets the right push in certain factors, then the country indeed has the potential to transform the public sector with AI-led innovations.

Not just companies, even the government of India is pushing the country toward the adoption of AI. Prime Minister Narendra Modi addressed the country saying that in the coming years, AI will drive the human race. With this, there will be a huge possibility of job openings, according to this.

IT giants like TCS, Wipro, Infosys, etc. are also in the race of adopting AI. TCS is all set to create its standalone brand for Ignio, which is an AI product. Wipro, on the other hand, has decided to use the AI platform Holmes for automating several of its fixed-price projects. Infosys launched its AI platform Nia, which will be helping businesses in forecasting revenues and understanding customer behaviours.

Although India is showing remarkable growth in the global AI race, it still needs to focus on methods to gain maximum benefits from the AI revolution.

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