A recent report by the International Data Corporation (IDC) titled ‘Top 10 Artificial Intelligence Predictions 2020 and Beyond for the Indian Market’ claimed that artificial intelligence would become integral to businesses across the spectrum in India by 2025.
As we are aware of the fact that AI is penetrating almost every sector in the market today especially in the data-driven businesses, the technology will be utilised to streamline unorganised data to gain valuable insights claimed the study.
In a press statement, Principal Analyst –Cloud and Artificial Intelligence at IDC India, Rishu Sharma stated, “Indian organisations are looking at leveraging AI, driven by the need for automation to increase productivity.” He also added, “As we deal with a large set of unstructured data being created in the digital era, AI will be the backbone when it comes to extracting valuable insights.”
The report also suggested that of the overall investment on AI, 1/5th of the total expenditure will go towards driving solutions as ‘outcome as a service’ to foster innovation. The study also suggested that more complex technologies will be utilised by businesses such as edge computing and embedded AI in the near future.
It stated that by 2023, at least 50 per cent of the enterprise application would have an embedded AI functionality built within the system. Senior Market Analyst for AI at IDC India, Swapnil Shende stated that AI in India is used to develop solutions that resolve organisational challenges and foster strategic formulation.
IDC report also adds that artificial intelligence will also help the companies in enhancing their capabilities by improving operations and optimising processes by automation. It said that at least half of the total enterprises would take help of automation and insights of AI-driven operations to retain a more skilled workforce.
Recently, Nasscom’s data said AI-based start-up ecosystem has spiked to 50 per cent growth in between 2013-2018. AI is definitely a game-changer for the businesses.