Deepak Dwivedi
INDIA is positioning itself as an innovation hub for Artificial Intelligence, housing 16 per cent of the world’s AI talent and demonstrating rapid adoption of AI skills. According to the Economic Survey 2023-24, there were over 13,000 startups that covered sectors like AI, Internet of Things, robotics, and nanotechnology as of March 31, 2024. This has set the stage of India becoming a global AI hub in Prime Minister Narendra Modi’s third term.
Over the past year, numerous global tech executives have emphasised India’s prowess in AI, attributing it to the country’s rapidly expanding developer community. India can be a global leader in AI due to a large number of computer sciences students, engineering disciplines, and the sheer size of its population.
Given the affinity of India’s population to work with technology, as seen with the digital public infrastructure, proactive interventions by the Government and the industry can position India as a key player. During the previous two terms of PM Modi, India made remarkable strides in AI, revolutionising sectors like healthcare, agriculture, finance, and education. With Government initiatives such as the National Strategy for AI and a thriving startup ecosystem, AI development is rapidly advancing. The Government is conscious of the fact that before rolling out AI solutions at scale, particularly in vital sectors like agriculture, several critical prerequisites must be met.
First and foremost, robust digital infrastructure must be established across rural areas to ensure seamless data collection and analysis. This means ensuring widespread internet connectivity, providing access to smart devices, and equipping individuals with the necessary training to use AI tools effectively. India’s approach to AI development signifies a serious and strategic commitment to unlocking the potential of AI for economic prosperity and societal progress.
The Government’s acknowledgment of AI as a fundamental driver of advancement is evident in its notable impact thus far. The economic implications of India’s focus on AI are profound. Projections indicate that AI could significantly contribute to the economy, potentially reaching $967 billion by 2035, and adding $450-500 billion to India’s GDP by 2025. This would mark a substantial stride towards achieving the nation’s ambitious $5-trillion GDP target, with AI playing a pivotal role in achieving 10 pc of this goal. India’s technology industry has witnessed over 15 per cent growth in AI/ ML jobs in the past year, with AI engineer positions expanding at an impressive 67 pc year-on-year.
The surge includes the development of proprietary AI and Generative AI platforms, automation tools, data analytics solutions, and tailored AI applications for specific industry verticals such as healthcare, banking and finance, and retail. India’s endeavours in AI have garnered global recognition. The country’s appointment as the Council Chair of the Global Partnership on AI (GPAI) reflects its increasing influence and prominence in the field. India’s achievements in various AI metrics, including ranking first in AI Skill Penetration and GitHub AI projects, solidify its position as a key player in the global AI landscape. India’s proactive approach to AI development, backed by strategic initiatives and a clear vision, highlights its dedication to using AI for inclusive growth and technological progress. PM Modi’s 100- day roadmap in his third term underlines the role of AI in crafting India’s strategy for the next 25 years.
