Four Levers Of Enterprise AI Strategy

Wide-scale private sector AI deployment and new AI-based business opportunities and ecosystems can truly supercharge the Indian economy

- RAJIV MEMANI

ARTIFICIAL INTELLIGENCE (AI) is finally coming of age in India. We already have a large, technology-savvy young population working in various fields of digital technology, both in services and products. According to industry body Nasscom, over 1.5 million engineers graduate annually. The IT industry alone employs almost 5.5 million engineers directly. India is the second-largest generator of digital data, only behind China. It is the fifth-largest economy in the world today and one of the biggest markets for any technology, both in business and customer applications. The country ranks among the biggest markets for almost all big tech firms. The Union government's Digital India initiative and the robust India AI Mission plan, combined with the impetus to semiconductor manufacturing through the PLI scheme, has put in place the key building blocks.

The interest shown by the private sector has also contributed to this momentum. Big companies have been experimenting with AI through pilot projects and limited deployment for several years. With the advent of Generative AI (Gen AI) and its visible benefits, Indian companies are recommitting themselves to scaling to deliver business value and gain a competitive advantage. While some are building an AI strategy from the ground up, others are taking one use case or application to improve efficiency, manage risks, or improve experiences in their core areas.