70 per cent of Indian organisations will be deploying AI-enabled solutions within the next two years, a report commissioned by Intel says.
The report also said that nearly 75 percent of the firms surveyed anticipate benefits in business process efficiency and employee productivity with the use of AI.
Technology, media and telecom (TMT) is an early adopter of AI with 37.5 per cent adoption rate currently, the report undertaken by the International Data Corporation at 194 Indian organizations has shown.
In 2019, the retail, services and healthcare industries are tagged to lead adoption of AI with an adoption rate of 74 per cent. Nearly 75 per cent of the firms surveyed expected an increase in proficiency and employee productivity with the use of AI. However, 76 per cent of the respondents say they would face a shortage of skilled personnel to harness the power of AI.
Currently, one in five organizations surveyed said they had already deployed the technology in some manner in their companies. “This number is expected to soar by mid-2019 to nearly seven out of 10 firms,” the report added.
The IT function will be the first to be impacted by the induction of AI solutions. But key challenges include high costs, acute shortage of skilled professionals, unclear returns on investment besides cyber security and regulatory compliances.
“As roadblocks in adoption and implementation of AI, and fears around AI subside, we can expect a new set of opportunities that India can gain from,” said Prakash Mallya, Managing Director, Sales & Marketing Group, Intel India.
The above report was first reported in Tech2.
Notably, concerned over this new technology, Indian govt had also formed a “policy group”, in September 2017, that will be studying the new technologies including artificial intelligence and then recommend a framework for its adoption.
Moreover, a recent study by Capgemini has revealed that the Indian subcontinent is way ahead of the curve when it comes to the game of artificial intelligence (AI) and its implementation.