AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom
2 years, 6 months ago

AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom

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The adoption of artificial intelligence and data utilisation strategy can add $500 billion to India’s GDP by 2025, a new Nasscom report showed on Thursday. The AI adoption in four key sectors — BFSI, consumer packaged goods and retail, healthcare, and industrials/automotive — can contribute 60 per cent of the total $ 500 billion opportunities, according to “AI Adoption Index” Nasscom, EY and Microsoft, EXL and Capgemini. Though the current rate of AI investments in India is growing at a compound annual growth rate of 30.8 per cent and poised to reach $881 million by 2023, it will still represent just 2.5 per cent of the total global AI investments of $340 billion. The use of AI in improving healthcare systems can potentially generate $25 billion of economic value add for India by 2025, the report noted.

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