AI will be present everywhere by the year 2027!!!
According to a NASSCOM-EY report, India's AI market is currently worth $7-10 billion and is expected to grow to $22 billion by 2027.
IDC Associate Vice President Sharat srinivas Murthy said in a business Standard report on the increasing use of AI that AI spending in India is expected to grow to $7-10 billion with a CAGR of 31.5 percent between 2023 and 2027. That is, AI will be present everywhere in india by the year 2027. He said that a major expenditure of US $209 million in 2023 was done by AI infrastructure provisioning and related software. Srinivasamurthy said, infrastructure provisioning will remain the largest contributor to the total expenditure.
In which field is the most work being done in India?
Most technology firms in india are working on AI. According to a recently released report, 70 percent of the country's tech companies are piloting AI projects. The second place is banking and finance, in which about 55 percent of the companies are working on AI. Apart from this, 50 percent of the companies in the manufacturing sector are working on AI, while only 25 percent of the companies in media and entertainment are working on AI. Apart from this, 38 percent of health care firms are using AI in their work. 53 percent of the big firms in india believe that AI projects have increased the IT budget.
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