Indian Artificial Intelligence (AI) Industry, Share, Trends and Forecast 2021-2027

 

Artificial Intelligence (AI) is poised to transform the world, with integration of intelligent machines allowing high-level cognitive processes, such as learning, thinking, perceiving, problem solving and decision making. Assimilating the advances in analytics and computer processing, data collection and aggregation, AI offers opportunities to complement human intelligence and enrich the working and living of people. India, being one of the fastest growing economies with having the second largest population across the globe, has a significant stake in the AI revolution.

A Full Report of Indian Artificial Intelligence (AI) Industry is Available at: https://marketinsight.in/industry-reports/indian-ai-artificial-intelligence-industry-size

As per Invest India - “AI/ new-age technology is to boost India's annual growth rate by 1.3% by 2035.”

In June 2018, Government of India introduced a national policy on AI in a paper titled ‘National Strategy for Artificial Intelligence #AIforAll’. The NITI Aayog has announced to focus on five sectors that are envisioned to benefit from AI.

·        Healthcare: increased access and affordability of quality healthcare

·        Agriculture: enhanced farmers’ income, increased farm productivity, and reduction of wastage

·        Education: improved access and quality of education

·        Smart Cities and Infrastructure: efficient and connectivity for the burgeoning urban population

·        Smart Mobility and Transportation: smarter and safer modes of transportation and better traffic and congestion solutions.

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Involvement or Impact of AI on Business Sectors in India

In May 2019, NITI Aayog, the think tank of the Government of India, has drawn up a plan for forming an institutional framework for AI in the country. The department has circulated a cabinet note to offer $75.0 billion in funding for the creation of a cloud computing platform called ‘AIRAWAT’ and research institutes.

Further, policies include ‘Make in India’, ‘Skill India’, and ‘Digital India’ programs offer untapped opportunities for companies (service providers, developers, and manufacturers) dealing in AI. The market players are creating regional innovation clusters for manufacturing automation and robotics in collaboration with universities and start-ups. NITI Aayog has evaluated various sectors that will be impacted by AI, among which, the agency has taken a decision to focus on a select set of sectors, where, the government will play a considerable role with private sector, to attain desired societal outcomes. In addition to Healthcare, and Agriculture, focus sectors include Education (preparing tomorrow’s generation to influence the global AI revolution to India’s advantage), Smart Cities and Infrastructure (solving for India’s rapidly urbanising population) and Smart Mobility and Transportation (solving for challenges congestion, pollution, high rates of road accidents leading to economic inefficiency and enormous human cost).

One-Stop ‘AI Portal’ of India

In June 2020, the Government of India launched a dedicated AI portal, intended to support the AI development capabilities in the country and to boost its standing as a hub supporting the emerging tech innovation. The portal – www.ai.gov.in – has been jointly developed by the national IT trade association NASSCOM and Ministry of Electronics and IT (MeitY) and is being promoted as a one-stop platform for AI-related advancements in India.

The Indian Government has also launched the ‘Responsible AI for Youth’ programme in June 2020, which aims to inspire students in India to consider a career and take interest in AI, with which the country is providing the students early tech skills. The programme has been designed and launched by MeitY in alliance with Intel India, and with the considerable support from the Ministry of Human Resource Development. The programme will be available to people at central as well as state government-run schools across the country and will be rolled out in phases. At present, each state is asked to nominate 10 teachers to run the programme, each of whom will identify nearly 25-50 students to take part. The students will attend online training sessions and work on establishing AI-based social impact projects. The 20 most innovative projects will be selected by an independent committee of experts, and the students behind them will be given opportunities to showcase their work.

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Recent developments

·        In April 2019, ThoughtSpot announced the aim to invest $25 million in its engineering center in Bangalore, India. The investment was aimed to innovate the company’s industry-leading search and AI-driven analytics platform and continue to recruit talent from top Indian universities.

·        In April 2019, Panasonic announced its plan to bring its smart factory solutions in India. The company has integrated its welding business and SMT (Surface Mount Technology) equipment business for becoming an end-to-end integrated Smart Manufacturing Solutions company.

·        In January 2019, central government of India has planned to launch a National center for AI. The national center will be part of the Ministry of Electronics and Information Technology (MeitY) and will work in collaboration with other entities of the department such as the National Informatics Centre (NIC) and the Centre for Development of Advanced Computing (C-DAC). The center will work in collaboration with academic institutions to understand how AI can help in governance.

·        In July 2018, Flytxt, data analytics player, has announced the launch of Robo-X, an Artificial Intelligence (AI) platform for intelligent customer engagement. Robo-X will harness AI and machine learning to produce better marketing outcomes.

 

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