AI market in india, ready to compete with the whole world!!!
With each passing day in india, the use of AI is also increasing rapidly. This technology is not only making human life easier, but is also revolutionizing the industries. Be it healthcare, education, business or entertainment, Artificial Intelligence is making its place in every field.
Meanwhile, a report by NASSCOM-EY has come out, according to which, our country's AI market is growing at the rate of 25 to 35 percent annually. According to the NASSCOM-EY report, India's AI market is currently worth $7-10 billion and is expected to grow to $22 billion by the year 2027. 70 percent of companies spend more than 20 percent of their IT budget on wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital and emerging technologies. The report surveyed 500 companies from different sectors.
According to the Intel-IDC report, this growth is driven by several factors including an increase in enterprise technology spending, India's growing AI talent base and a significant increase in AI investments.
Indian companies are spending 20% of their budget on AI
According to this report, in the year 2022, about 56% of indian companies were spending 20 percent of their IT budget on wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transformation. Whereas only 2 years later i.e. in 2024, 70 percent of indian firms in the country are spending more than 20% of their IT budget on wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transformation. This shows how serious indian companies are about wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transformation. They are not only using wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital technologies to improve their services and products, but are also investing heavily on it to stay ahead in the competition. This trend shows that digitalization is expanding rapidly in india and companies are fully prepared to adopt this change.
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