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India’s AI spending set to triple to $5 billion by 2027

Spending on AI in India is expected to grow at a compound annual growth rate of 31.5 percent from 2023 and might reach $5.1 billion by 2027, according to a joint study released by Intel and International Data Corporation (IDC).

Santhosh Viswanathan, Vice President and Managing Director, India Region, Intel, said, “With an unmatched talent pool, frugal innovation, and data at scale, India stands poised to lead the global AI revolution,”

Besides infrastructure, the current focus on AI adoption lies in enhanced CX and improved employee productivity, assisting employees to focus on more value-added work and removing mundane, time-consuming tasks.

“India’s commitment to AI, underscored by its proactive approach, drives transformative growth. This positions India as a frontrunner in shaping the future of this technology. Intel recognises this extraordinary opportunity, elevating India as a distinct geography for our business operations. We’re proud to be part of India’s journey towards AI excellence and building an Amazing India”, he added.

“AI spending in India is expected to increase to USD 5 billion with CAGR (compound annual growth rate) of 31.5 per cent between 2023 to 2027. By 2027 AI will be everywhere,” Sharath Srinivasamurthy, Associate Vice President, IDC said.

He said that in 2023, major spending of USD 209 million was driven by AI infrastructure provisioning and related software.

It was followed by augmented customer service agents at USD 168.8 million, digital assistance USD 113.1 million, augmented threat intelligence USD 100.1 million and program advisors recommendation systems USD 97.1 million.

“The infrastructure provisioning will continue to be the biggest contributor in overall spent,” Srinivasamurthy said.

CT Bureau

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