Trending

Stories

Investment, Research Driving AI Growth in India: Study

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Higher investment and research are driving significant growth of Artificial Intelligence (AI) in India, finds a study.

The AI Index 2021 annual report by the Indian School of Business’s IT-focused think tank, Srini Raju Centre for Information Technology and Networked Economy (SRITNE), captured trends, research & development education, and entrepreneurial activity. The ISB research team, led by Professor Deepa Mani, found that investments in AI-managed processes have grown substantially across businesses in India.

Also Read

It noted that the ongoing pandemic sped up technology adoption across most business verticals in 2020-21. While until a few years back, it was mostly IT firms that were adopting AI on a large scale; now, other sectors are fast catching up, thanks to the phenomenal growth of start-ups and ongoing investment activities in the country.

The report was formally launched Friday by Telangana’s Principal Secretary, Industries & Commerce, and Information Technology, Jayesh Ranjan, and Microsoft India’s National Technology Officer, Dr. Rohini Srivathsa, in a virtual event.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Srivathsa said that an earlier NASSCOM study has indicated that data and AI can add half a trillion USD to India’s GDP. “The pandemic has led people to consider investments in AI and automation proactively,” she said, adding that usage of AI would also contribute towards the framing of better Covid response and faster economic recovery going ahead.

“The research analysis revealed that while overall activity and investments are increasing significantly, these activities are concentrated in a few regions,” said Mani, Professor and Area Leader of Information Systems, ISB and Executive Director, SRITNE-ISB.

“AI has helped Indian businesses to be resilient to the Covid-19 pandemic in the country and helped them redesign their models for tomorrow.”

According to the report, there has been steady growth in AI-related research publications, collaborations, and patents. Machine Learning emerged as a popular subject for AI researchers, with over 37 percent of the AI-related publications dedicated to the subject in 2020.

Distribution of start-ups across geographies revealed that Karnataka leads with the maximum number of AI start-ups, followed by Maharashtra.

“As per our analysis of online job searches for the period 2019-2020, there has been a steady growth in AI-related jobs posting in India, though it represents only a small percentage (2 percent in January 2019 -March 2020) of total jobs posted in India,” says the report.

In India, the popularity of the keyword Machine Learning grew steadily from 2015 to 2020, overtaking Artificial Intelligence in 2017.

There is, however, minimal organized data on the demand and supply of AI-related skills and human capital in India. Therefore, the gap between skills and employment in the AI domain is not entirely analyzed yet.

“Our study suggests that while there has been a significant advancement in knowledge creation and appropriation in the field of AI, much more needs to be done, especially with respect to skilling and education. We will continue to track the growth of this technology across the critical areas mentioned in the report. We feel that the focus should be on widespread skilling, investments, and education building in other regions as well, which in turn would help to reduce inequality,” said Mani.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program
Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India POCO C50 Launched in India