By 2025, AI will be integral to every part of the business in India, resulting in 20% of the overall spend on AI solutions as “outcomes as a service” that drives innovation at scale and superior business value
In this data-driven era, AI is becoming a priority for organizations in India, driven by the need to automate, faster route to market, and agility. Organizations in India are warming up to leveraging AI when it comes to automating processes, deriving actionable insights, and prototyping with use cases to evaluate the implication of the technology, according to IDC’s predictions impacting the Artificial Intelligence (AI) investments for organizations in India for 2020 and beyond.
According to Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India, “Indian organizations are looking at leveraging AI driven by the need for automation to increase the productivity. As we deal with large set of unstructured data being created in the digital era, AI will be the backbone when it comes to extracting valuable insights. Unsurprisingly, the primary reason holding an organization back when it comes to implementing AI technology is - the trustworthiness of the data. Enterprises also cite unrealistic expectations, lack of skilled staff and unclear business case, as the reasons for failure of AI projects.”
IDC India has listed the following ten predictions that would impact the technology buyers and suppliers in AI in India in 2020 and beyond:
#1 Outcomes as a Service: By 2025, AI will be integral to every part of the business in India, resulting in 20% of the overall spend on AI solutions as “outcomes as a service” that drives innovation at scale and superior business value.
#2 Worker Augmentation: By 2024, 50% of enterprises in India will invest in employee retraining and development, including third-party services, to address new skill needs and ways of working resulting from AI adoption.
#3 Digital Trust: By 2024, top 100 organizations in India will have formal programs to monitor their “digital trustworthiness” as digital trust becomes a critical corporate asset.
#4 Intelligent Process Automation: By 2024, 50% of enterprises in India will embed intelligent automation into technology and process development, using AI-based software to discover operational and experiential insights to guide innovation.
#5 AI is the New UI: By 2024, AI in India will become the new user interface by redefining user experiences where over 20% of user touches will be augmented by computer vision, speech, natural language, and AR/VR.
#6 Hyper-Personalization: By 2023, 10% of customer experience applications in India will be continuously hyper-personalized by combining a variety of data and newer reinforcement learning algorithms.
#7 AI Edge Applications: By 2025, 30% of computer vision and speech recognition models in India will run on the edge (including endpoints) and feature deep learning on convolutional and recurrent neural networks.
#8 Embedded AI: By 2025, at least 50% of new enterprise application releases in India will include embedded AI functionality, but truly disruptive AI-led applications will represent only about 5% of this total.
#9 AI Accelerated Chips: In 2023, technology buyer spending on semiconductors (GPUs, FPGAs, AI ASICs, and AI ASSPs) used specifically to accelerate AI training and inferencing will reach nearly USD 120 million in India.
#10 AI Edge Computing: By 2024, nearly 10% of servers that process AI workloads using AI-optimized processors and coprocessors in India will be deployed at the edge.
“Artificial Intelligence in India promises to develop advanced solutions that tackle organizational challenges and speed up strategic formulation. With the increasing availability of data, AI can be effective in multiple applications across various verticals including agriculture, transportation, finance, healthcare, retail and many more. India, being the key contributor in the global startup ecosystem, will play a crucial role in discovering the benefits of AI technology across varied sectors,” says Swapnil Shende, Senior Market Analyst for AI at IDC India.