AI in Business and Management: Why India's MBA students must prepare for an intelligent future

Artificial Intelligence (AI), once considered a concept of the future, has rapidly become a transformative force across global industries.

- NIDHEESH SAXENA

From automating customer service to predicting market trends, AI is reshaping how businesses operate—and India is no exception.

In recent years, the Indian business ecosystem has embraced AI at an accelerated pace. For MBA students, aspiring business leaders, and the institutions that train them, this technological evolution signals one clear message: AI is no longer optional—it is essential.

INDIA'S AI GROWTH STORY

According to a report by the India Brand Equity Foundation (IBEF), the global AI market, valued at US$ 59.67 billion in 2021, is expected to grow to US$ 422.37 billion by 2028. India's AI market is projected to reach US$ 7.8 billion by 2025, up from US$ 3.1 billion in 2020, growing at a CAGR of 20.2%.

This surge has been driven by AI's wide-ranging applicability across key sectors such as finance, healthcare, retail, manufacturing, and human resources.

SECTOR-WISE ADOPTION OF AI IN INDIA
Finance and Banking: Indian banks like HDFC, ICICI, and SBI are using AI-based chatbots such as EVA and iPal to handle customer interactions. AI systems are also enhancing fraud detection and loan risk assessment, making financial operations more efficient and secure.