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India's AI Mkt To Reach $17 Bn By 2027: Report
Hindustan Times
|February 21, 2024
India's AI market is expected to grow at a compound annual growth rate (CAGR) of 25-35% to $17 billion by 2027, according to a report by Nasscom and the Boston Consulting Group.
This growth will be fuelled by multiple factors, including increasing enterprise tech spending, India's growing AI talent base and a significant increase in AI investments, according to the report titled AI-Powered Tech Services: A Roadmap for Future Ready Firms; AI & GenAI's Role in Turbocharging the Industry. "As the investments in AI continue to increase, the demand for AI talent in India is also expected to grow at 15% CAGR till 2027," the report said.
Several leading firms have invested heavily in upskilling and reskilling their workforce in AI and related technologies, allocating $1 billion over the next three years for the same. This investment recognizes the importance of human capital in the AI journey.
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