Google India Says Artificial Intelligence Alone Can Add $500 Billion To The Economy
Google India has said artificial intelligence alone could add $500 billion to the economy, and assist in a better forecast of floods and accurate diagnosis of diseases.
And as per a top official, the company has also committed $10 billion for expanding India’s digital footprint.
At the ‘ABP Infocom – The Next Normal’, Sanjay Gupta, Google India Country Manager & VP, said,
“The COVID-19 pandemic has prompted us to use every tool at our disposal to address the challenges and opportunities before us.”
For the tech giant, India has proved to be a money-making country as it saw its India revenues grow 34.8% to about Rs 5,593.8 crore in 2019-20, over the previous financial year, as per regulatory documents.
The filing said,
[Read: Future Of Technology And Its Impact That Indian Startups Should Know]
“The Board is glad to inform you that during the period beginning from April 1, 2019, and ending on March 31, 2020, the company has achieved a turnover (revenue from operations) of Rs 53,847 million, which is higher than the earlier year of Rs 39,928 million.”
Sanjay Gupta added that during the pandemic, data consumption jumped to 14 GB per month from 8 GB, whereas the average consumption was just 86 MB per month in 2014.
Talking about UPI transactions, the senior company official said by 2022, UPI transactions will reach the one-billion-a-day mark from around a billion per month at present.
Recently, Google picked up a 7.73% stake in Reliance Industries Ltd’s (RIL) digital subsidiary, Jio Platforms Ltd, with plans to come up with “an entry-level affordable smartphone”.
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