New Delhi, November 12 (UITV)- Artificial Intelligence (AI) is developing very rapidly all over the world and India is also taking important steps in this direction. According to a recent report, India is at the forefront of adopting AI globally. According to the report, 30 percent of the country’s companies have made a significant contribution in increasing the potential of AI, which is more than the global average of 26 percent.
The Boston Consulting Group (BCG) report has revealed that Indian companies prioritize low and high-impact AI initiatives and also implement these initiatives effectively.
Indian companies pursue these efforts 1.7 times more effectively than others and have achieved 2.1 times more return on investment than global competitors. The report also states that Indian companies are actively experimenting with AI, due to which they are succeeding in making the most use of AI’s potential globally.
The report is based on a survey of over 1,000 CXOs and senior executives from 59 countries across Asia, Europe and North America, representing over 20 industries. The report also revealed that despite the continued expansion of AI, only 26 per cent of companies globally have been able to fully harness the potential of AI.
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Saibal Chakraborty, India Leader, Technology and Digital Advantage Practice, BCG, said about the adoption of AI, “India’s rapid adoption of AI is redefining its position in the global competition. 30 per cent of Indian companies have maximized the value potential of AI, which is significantly higher than the global average of 26 per cent.
Chakraborty further added that the maturity of India’s AI leaders is spread across both traditional and digital sectors. This reflects a broad adoption that drives value beyond just tech-driven industries. He also said that “India’s AI leaders are now moving beyond productivity to creating and reinventing new business models. Therefore, India is not only leading in adopting AI, but is also ready to take thoughtful steps.
This report makes it clear that India is at the forefront of the world in the field of AI and its effective use is placing the country’s companies in a better position in the global competition.
