It is possible that artificial intelligence could add significant value to India's GDP by 2025. According to a report by the National Association of Software and Services Companies (NASSCOM) and consulting firm McKinsey, AI has the potential to add between $350 billion and $500 billion to India's GDP by 2025. This would represent a significant contribution to the country's economy and could help to drive growth and development in a number of industries.
Artificial intelligence is expected to add $967 billion to the Indian economy by 2035, and around $450-500 billion to the nation’s GDP by 2025, accounting for 10 percent of the country’s target of $5 trillion GDP. Meanwhile, AI is expected to contribute $15.7 trillion to the global economy in 2030.
The report suggests that AI could be particularly valuable in industries such as healthcare, agriculture, education, and transportation. For example, AI could be used to improve healthcare outcomes by enabling better disease detection and diagnosis, while in agriculture it could help to increase crop yields and reduce waste.
However, it is important to note that realizing the full potential of AI in India will require significant investment in research and development, as well as in the development of the necessary infrastructure and talent. There may also be challenges related to data privacy and security that need to be addressed.
Overall, while AI has the potential to add significant value to India's economy, it will require careful planning and investment in order to fully realize this potential.
In India, AI-generated revenue stood at $12.3 billion in 2022, adding that the AI software segment is expected to grow at a CAGR of 18 percent in the country by the end of 2025.
In terms of investment, global investments in artificial intelligence surged to a record high of $77.5 billion in 2021, up from $36 billion in 2020. India’s share in global AI investment in 2022 stood at 1.5 percent, the TeamLease report says.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
