As per a recent report Unlocking Value from Data and AI by NASSCOM, Data and Artificial Intelligence (AI) can add $450-500 billion to India’s GDP by 2025.
This number represents around 10% of the $5 trillion economy aspiration of the Indian government.
The report also stated that nearly 45% of this value is likely to be delivered by 3 sectors alone. These sectors include consumer goods and retail ($90-95 billion), banking and insurance ($60-65 billion), and agriculture ($60-65 billion).
The report by NASSCOM highlighted the importance of building an AI innovation ecosystem and also suggested the launch of the National Programme for AI and the creation of a central body.
Talking about the relevance of this report, Debjani Ghosh, President of Nasscom, said,
“Data and AI’s true potential emerges from its ability to drive transformation across multiple sectors through a diverse range of applications. The report articulates the key structural steps that India needs to take to realise the value of this opportunity.”
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