Tech investments by manufacturing firms likely to rise, CII report says
1 week, 3 days ago

Tech investments by manufacturing firms likely to rise, CII report says

Live Mint  

New Delhi: Manufacturing companies are likely to ramp up investments into technology integration to 11-15% of their overall budget in the next two years, compared with the existing 10%, a report by the Confederation of Indian Industries showed. Capital-intensive industries like semiconductors, aerospace, and automotive are leading the charge in adopting these technologies, the report said, while traditional industries like textiles and food processing are gradually transitioning towards digitization. For instance, in the electronics sector, many companies have well-defined strategies with a high commitment to technology integration, while in the automobile sector, there is more variation - ranging from companies with no strategy at all to companies with extremely committed and clear strategies, CII said in the report. The report said that challenges within the manufacturing sector such as high costs, unclear returns on investment, and the integration of legacy systems persist, especially for small and medium enterprises.

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Generative AI, data centres to define India’s tech industries in 2025
2 weeks, 1 day ago

Generative AI, data centres to define India’s tech industries in 2025

Live Mint  

New Delhi: India’s technology sector is likely to see generative artificial intelligence and related data applications define client orders, financial growth and technical innovation in 2025. On 19 December, Accenture, the world’s largest technology services outsourcing and consultancy firm and a bellwether for India’s $300-billion IT services sector, disclosed $1.2 billion in net new generative AI deals with businesses worldwide. …

95% CIOs deem AI critical for business in 2024: IDC Report
9 months, 3 weeks ago

95% CIOs deem AI critical for business in 2024: IDC Report

The Hindu  

95% of Chief Information Officers deem AI critical for business in 2024, while 45% in India admit to recruitment challenges for AI-related positions. 69% of CIOs across Asia Pacific further prefer AI work loads in non-public cloud environments as a shift is noticed in CIO priorities from last year with AI topping the list, a study commissioned by Lenovo and …

India’s AI market seen touching $17 billion by 2027: Report
10 months, 2 weeks ago

India’s AI market seen touching $17 billion by 2027: Report

The Hindu  

February 21, 2024 10:16 am | Updated 12:24 pm IST - MUMBAI India’s artificial intelligence market is projected to touch $17 billion by 2027, growing at an annualised rate of 25-35% between 2024 and 2027, IT industry body Nasscom and consulting firm BCG said on Tuesday, citing a joint report studying AI-powered tech in the country. The growth is seen …

Internet economy to become 12–13% of GDP by 2030: Report
1 year, 7 months ago

Internet economy to become 12–13% of GDP by 2030: Report

The Hindu  

India’s internet economy — B2C e-commerce firms, online service providers, ed-tech companies, and so on — will hit $1 trillion in value by 2030, up from $175 billion in 2022, a report by Google, Bain & Company and Temasek estimated. The key thrust would come from “Tier 2+ locations,” the report said, emphasising smaller towns and rural areas, where the …

An enabling framework to drive the technology sector’s growth
2 years, 11 months ago

An enabling framework to drive the technology sector’s growth

Live Mint  

The strong third-quarter results announced by India’s technology companies in an otherwise seasonally-weak quarter reinforces the reading that global demand for technology remains buoyant and the industry is emerging as the partner of choice for enterprise digital transformation. It will require a partnership with the government on developing the tech ecosystem and reinforcing Digital India’s innovation capability in existing and …

Digital tech to ease funding woes of small firms
4 years, 7 months ago

Digital tech to ease funding woes of small firms

China Daily  

Digital technologies can play a bigger role in helping small and medium-sized enterprises raise funds, and more efforts are needed to encourage companies to upgrade themselves by embracing cutting-edge technologies, a national legislator said. Industrial internet development will help companies alleviate their digital anxiety, motivate traditional enterprises to upgrade themselves and expedite their push for digital transformation, Sun said. Sun …

Share of tech patents on the rise in IP filings
5 years, 8 months ago

Share of tech patents on the rise in IP filings

The Hindu  

India-domiciled companies filed over 4,600 patents in the U.S. between 2015 and 2018, of which a majority were from the technology domain, with artificial intelligence being the fastest growing area followed by Internet of Things. The portion of emerging technologies has increased consistently to 56.3% in 2017-18 from 38.3% in 2015, while the share of computer and communication technology patents …

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