The Latest Ai In The India Industry Statistics Explained
By 2020, India’s AI industries were estimated to be worth 180 billion US dollars.
The statistic stating that India’s AI industries were estimated to be worth 180 billion US dollars by 2020 indicates the significant growth and potential of the artificial intelligence sector in India. This figure highlights the increasing adoption and investment in AI technologies and services across various industries in the country, driving economic growth and innovation. The large market value of India’s AI industries also showcases the country’s emergence as a key player in the global AI landscape, attracting both domestic and foreign investors looking to leverage the expertise and resources available in India for developing cutting-edge AI solutions.
By 2025, the AI market in India is expected to grow at a CAGR (Compound Annual Growth Rate) of 45.2%
This statistic indicates that the Artificial Intelligence (AI) market in India is projected to experience significant growth over the next few years. The Compound Annual Growth Rate (CAGR) of 45.2% suggests that the market size will increase at a steady rate of 45.2% each year from the baseline year to 2025. This implies a substantial expansion of the AI industry in India, driven by factors such as technological advancements, increasing demand for AI solutions across various sectors, and supportive government initiatives. Companies operating in the AI space can expect a lucrative market opportunity in India by 2025 if this growth trajectory continues.
More than 50% of Indian retail companies will be operating on AI by 2020.
The statistic “More than 50% of Indian retail companies will be operating on AI by 2020” suggests that a significant proportion of retail companies in India will be utilizing artificial intelligence (AI) technology in their operations by the year 2020. This indicates a growing trend and adoption of AI in the Indian retail sector, likely driven by the potential benefits such as enhanced customer experiences, improved operational efficiency, and increased competitiveness. The use of AI in retail can help companies analyze customer data, forecast demand, personalize marketing efforts, optimize pricing strategies, and enhance supply chain management. As such, this statistic highlights the increasing importance of AI technology in transforming the landscape of the retail industry in India.
AI and Internet of Things (IoT) start-ups in India grew by 50% from 2016 to 2019.
The statistic indicates that the number of start-up companies in India focusing on artificial intelligence (AI) and Internet of Things (IoT) technology experienced a significant growth rate of 50% from 2016 to 2019. This growth suggests a booming entrepreneurial ecosystem in India within the tech industry, specifically in the AI and IoT sectors. The increased interest and investment in these cutting-edge technologies reflect a growing recognition of their potential and importance in driving innovation and economic growth. The statistic highlights the emerging presence and success of AI and IoT start-ups in India, positioning the country as a key player in the global tech landscape.
AI and automation are predicted to replace 69% of repetitive tasks in Indian manufacturing by 2024.
The statistic suggests that artificial intelligence (AI) and automation technologies are expected to significantly impact the Indian manufacturing sector by 2024, with a projected automation of 69% of repetitive tasks. This implies that robots, machines, and AI systems will be increasingly utilized to perform routine and repetitive tasks currently carried out by human workers in manufacturing facilities. The implementation of AI and automation technologies in this sector can lead to increased efficiency, productivity, and cost savings for companies. However, this trend may also raise concerns about potential job displacement and the need for workers to acquire new skills to remain relevant in the evolving workforce.
India ranks 3rd in research on AI with about 12,135 documents published from 1998-2017.
The statistic indicates that India holds the 3rd position globally in terms of the volume of research output on artificial intelligence (AI), with approximately 12,135 documents published between 1998 and 2017. This suggests that India has been actively contributing to the field of AI research, showcasing significant interest and engagement in advancing AI technologies and applications. The high number of publications reflects India’s growing expertise and involvement in AI-related research activities, highlighting the country’s potential to make significant contributions to the field and potentially play a crucial role in shaping the future of AI innovation on a global scale.
North America and Asia-Pacific account for 84% of AI funding and India comes in 3rd place.
The statistic suggests that a significant portion of funding in the field of artificial intelligence is concentrated in North America and the Asia-Pacific region, making up a combined 84% of total AI funding. This indicates that these regions are at the forefront of investment and innovation in artificial intelligence technologies. Additionally, the fact that India comes in 3rd place in terms of AI funding highlights its growing importance and prominence in the global AI landscape, positioning the country as a key player in the development and adoption of AI technologies.
The AI workforce in India doubled in size from 40,000 in 2018 to 72,000 in 2019.
The statistic indicates a significant increase in the size of the artificial intelligence (AI) workforce in India over a one-year period. Specifically, the number of individuals working in AI-related fields in India doubled from 40,000 in 2018 to 72,000 in 2019. This suggests a rapid growth in the adoption and implementation of AI technology across various industries in India, leading to a corresponding increase in the demand for skilled professionals in this field. The substantial increase in the size of the AI workforce reflects the country’s evolving technological landscape and highlights the importance of AI as a driver of innovation and economic growth in India.
The adoption of AI has led to an increase of 15% in the productivity of Indian industries.
The statistic suggests that implementing artificial intelligence (AI) technologies in Indian industries has resulted in a notable 15% increase in productivity. This implies that AI has positively impacted the efficiency and output of these industries by optimizing processes, automating tasks, and improving decision-making capabilities. Such a significant boost in productivity indicates that AI is playing a crucial role in driving growth and competitiveness in the Indian industrial sector. It implies that companies that have embraced AI solutions are reaping the benefits of improved performance and are likely to maintain a competitive edge in the market.
India’s NITI Aayog set a plan to bring AI to 9% of the country’s industry by 2025.
The statistic indicates that India’s government think tank, NITI Aayog, has established a strategic plan aimed at implementing artificial intelligence (AI) technologies in 9% of the country’s industrial sector by the year 2025. This initiative reflects a targeted effort towards the adoption and integration of AI technologies across various industries in India. The goal is to leverage AI’s capabilities to enhance productivity, efficiency, and innovation within these sectors, ultimately contributing to economic growth and competitiveness on a national scale. By setting a specific target percentage, NITI Aayog aims to drive progress and measure the impact of AI implementation in India’s industrial landscape over the next few years.
AI penetration in Indian businesses reached 20% in 2020.
The statistic “AI penetration in Indian businesses reached 20% in 2020” indicates that 20% of businesses in India have incorporated some form of artificial intelligence technology into their operations by the end of 2020. This implies that a significant portion of businesses in India have embraced AI to enhance efficiency, productivity, decision-making, or customer experience. The level of AI penetration can vary across industries and business sizes, but overall, this statistic suggests a growing trend towards the adoption of AI technologies in Indian businesses, highlighting the importance of leveraging advanced technologies to stay competitive in the evolving business landscape.
By 2021, 60% of India’s IT services firms used AI for IT operations, testing, and in business processes.
The statistic “By 2021, 60% of India’s IT services firms used AI for IT operations, testing, and in business processes” indicates a significant adoption rate of artificial intelligence (AI) technology within the IT sector in India. This trend suggests that a majority of IT services firms in the country have incorporated AI into various facets of their operations, including IT infrastructure management, testing processes, and overall business workflows. The use of AI technology within these firms likely aims to enhance operational efficiency, improve decision-making processes, and stay competitive in an increasingly tech-driven industry. This statistic highlights the growing importance and integration of AI within the IT services sector in India, showcasing a shift towards automation and data-driven strategies.
AI innovation start-up funding in India stood at approximately 762.5 million U.S. dollars in 2020.
The statistic indicates that in 2020, the total amount of funding received by artificial intelligence (AI) innovation start-ups in India reached around 762.5 million U.S. dollars. This substantial funding signifies a growing interest and investment in the AI technology sector within India, reflecting the potential economic opportunities and advancements associated with AI innovations. The funds are likely being allocated towards research and development, technology infrastructure, talent acquisition, and scaling up operations, all of which are crucial for driving the growth and competitiveness of AI start-ups in the country. This statistic highlights the increasing prominence of India as a hub for AI innovation and suggests a positive outlook for the future development of AI technology within the region.
The AI market in India is expected to reach the value of 2.869 billion USD by 2025.
The statistic that the AI market in India is projected to reach a value of 2.869 billion USD by the year 2025 signifies significant growth and potential within the artificial intelligence industry in India. This statistic suggests a substantial increase in investment, adoption, and development of AI technologies and applications in the Indian market over the coming years. The predicted market value serves as an indicator of the increasing importance of AI in various sectors of the Indian economy, including technology, healthcare, finance, and others, showcasing the opportunities and potential economic impact that AI technologies can bring to the country.
AI adoption in the Indian automotive industry is projected to rise by 152% in the next five years.
The statistic states that the adoption of artificial intelligence (AI) in the Indian automotive industry is expected to increase by 152% over the next five years. This indicates a significant growth in the integration of AI technologies within the industry, likely driven by advancements in AI capabilities, increased awareness of its benefits, and a push towards digital transformation. The projected rise suggests that more companies in the Indian automotive sector are recognizing the potential of AI to improve operations, enhance product development, streamline processes, and ultimately boost overall efficiency and competitiveness. This growth trajectory indicates a substantial shift towards AI-driven solutions in the industry, highlighting the increasingly important role of technology in shaping its future landscape.
As per a report, 65.5% of companies in India believe that AI is helping their business to achieve competitive advantage.
The statistic indicates that a significant majority, specifically 65.5% of companies in India, believe that artificial intelligence (AI) is playing a crucial role in helping their businesses attain a competitive advantage. This suggests a widespread recognition among Indian companies of the strategic importance and benefits of AI implementation in enhancing their market position and outperforming competitors. The statistic implies that AI technologies are being embraced as a key driver of innovation and efficiency, enabling these companies to leverage data insights, automation, and advanced analytics to stay ahead in the ever-evolving business landscape.
AI jobs have seen a rise of up to 44% in India since 2020.
The statistic “AI jobs have seen a rise of up to 44% in India since 2020” indicates a substantial increase in the demand for professionals with expertise in artificial intelligence (AI) within the Indian job market. This rise suggests a growing recognition of the importance of AI technologies across various sectors in India since 2020. The significant percentage increase highlights the increasing adoption of AI and machine learning technologies by businesses and organizations in the country, which is likely driven by factors such as automation, digital transformation, and the potential for innovation and efficiency gains. This trend also signifies the opportunities available for individuals with skills and knowledge in AI to capitalize on the job market demand and contribute to the advancement of AI technologies in India.
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