40% of Indian enterprises will use AI by 2024: Study

By 2024, 40% of large enterprises will expand the use of artificial intelligence/machine learning (AI/ML) across all business-critical horizontal functions like marketing, legal, HR, procurement, and supply chain logistics, said a report IDC FutureScape: Worldwide Artificial Intelligence and Automation 2022 Predictions ? India Implications by International Data Corporation (IDC).

“With 2021 being the year of recovery and rapid adoption of advanced technology solutions across industries, the role of AI/ML (artificial intelligence/machine learning) technology will only continue to grow in India in 2022 and beyond. Indian enterprises have started harnessing AI into domains that humans drove to automate routine tasks while enhancing accuracy and speed and improving overall productivity,” the study says.

IDC India AI predictions notes that alongside having increasing adoption of new generation technologies, enterprises in India will combine human expertise with AI, ML, and deep learning technologies to increase employee productivity, operationalize workflow, deploy conversational AI applications across a wide range of use cases in multiple industries, and others.

“Enterprises are leveraging AI for varied use cases across business functions for enhanced efficiencies, resilience, and decision making. AI will increasingly fuel horizontal business function’s transition from administrative to strategic, and the workforce’s transition from consistent to diversified and productive,” says Rishu Sharma, Associate Research Director, Cloud and AI, IDC India.

Some of the other key highlights of the report are:

Machine-human Augmented Foresight: By 2026, 60% of enterprises in India will combine human expertise with AI, ML, NLP, and pattern recognition to augment foresight across the organization, making workers 20% more productive and effective.

Process Mining Control Plane: The 30% of enterprises in India that adopt process mining as a controlling layer for end-to-end business processes by 2025 will be at least 20% more profitable than peers that do not.

Commoditization of Computer Vision: By 2025, 40% of Indian companies using computer vision will use a pre-trained model in a low-code environment that either fits their need or can be adopted with transfer learning from sparse data sets.

“With small and large enterprises shifting their operational activities to the cloud, businesses in India have also started exploring AI to achieve better productivity and for ease of business activity. With AI/ML offerings taking over/assisting humans in routine tasks in multiple industries including healthcare, BFSI, and others to stay competitive in changing times, employees will need to update their skills to work alongside new AI-driven workspace,” says Swapnil Shende Senior Market Analyst, Cloud and Artificial Intelligence, IDC India.

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