State of AI in India, Deloitte  

The Deloitte report – State of AI in India – focuses on how organizations can succeed in the age of AI. The study lends additional focus on what AI leaders and GCCs are doing to successfully embrace AI for their business growth.

Deloitte surveyed over 300 senior executives in India to know their organizations’ plans and approach for adopting AI technologies. The report also underlines the impact of AI on people and processes in these organizations, their preparedness for various associated risks, and the benefits they expect or have achieved from AI.

Key highlights from the report:
In the past few years, both Indian private and public sector companies and the central and state governments have invested in multiple AI use cases across diverse application areas.

Deloitte India’s survey of executives from different industries, driving AI initiatives within organizations of various sizes, helped in assessing the extent and nature of use of AI technologies across such organizations.

• Industry leaders are optimistic about AI and its potential to transform organisations and industries and drive economic growth. 86% of our survey respondents plan to increase their AI spend in the next fiscal year encouraged by the returns they see from existing AI investments.
• Early adopters are beginning to use AI for strategic outcomes rather than for efficiency gains, having developed some level of expertise.
• Start-ups are seeing faster returns on AI investments helped by their smaller size, flexible operations, and innovation friendly learning culture.
• GCCs are usually mature AI adopters due to the lead they have gained in AI adoption.
• A well-defined AI strategy is essential for success, including the choice of operating model, execution approach, and enabling commercial models and technologies.
• A significant AI risk preparedness gap exists among surveyed organizations – mitigation strategies can range from operational practices to organization-wide risk management frameworks.
• Demand still outpaces supply of AI skills – organizations’ responses span from short-term fixes like hiring and outsourcing to long-term investments into up-skilling workforces.

Prashanth Kaddi, Partner, Deloitte India highlights, “AI is indeed coming of age in India, with the early adopters in India looking to move from focusing on efficiency levers to more strategic value generating outcomes. In conversations with over 300 senior executives, leaders are encouraged by the returns they see from their AI investments, leading to the development of a robust ecosystem of suppliers and adopters of AI driven technologies, including startups. Going ahead, the top focus areas for organizations are a well-defined AI implementation strategy, organizational AI governance as well as AI-enabling their workforce.”

Saurabh Kumar, Partner, Deloitte India highlights, “The Deloitte “State of AI” in India study provides key insights into the emerging AI landscape, with large and small organizations addressing both global and India markets, making rapid strides in their AI journey. These findings dovetail with the Deloitte AI Institute India vision which brings together the ecosystem of startups, research and industry to transform businesses and organizations using AI as a driver.” CT Bureau