Our people are obsessed with the amazing capabilities of conversational AI. OpenAI’s Chat GPT became a viral sensation within days of its launch, dominating everyone’s mouths. OpenAI has pushed the feature curve up a notch with Chat GPT4, an advanced language model with multimodal input, text prompts and enhanced limited reasoning capabilities. But recent news should fill the hearts of all Indians with pride. India is currently the top country in terms of AI skills penetration and concentration of AI talent. India’s ‘AI Skills Penetration’ is 3.09, the highest among G20 and OECD countries.
It’s heartening to see India making headway on the AI highway. A country steeped in history and tradition has come a long way and is now well-positioned to lead the next wave of disruptive AI innovation. Many reasons fuel our AI growth engine. First, the country’s unrivaled talent pool. Indian tech talent has three times more AI skills than her in other countries. Moreover, with 1.6 million digital talents, India has become a coveted talent destination. The demand for data science and AI professionals in the country is on the rise and is expected to reach the 1 million mark by 2024. The top five roles (ML Engineer, Data Engineer, Data Scientist, Data Architect and DevOps Engineer) account for 73% of all AI jobs in India.
Nasscom estimates that AI-driven disruption in India’s core sectors could potentially impact the Indian economy at $500 billion in gross value added (GVA) by 2026. The AI ecosystem is also growing rapidly. He has over 1900 AI-focused start-ups working on solutions in areas such as conversational AI, video analytics, deepfake detection, and disease detection. The surge in demand for AI and data science has created an opportunity for India to lead the world in AI R&D. Globally, the introduction of AI is expected to create 133 million new jobs (World Economic Forum). These roles range from AI specialists and machine learning engineers to data analysts and software developers who can design and implement AI solutions. But it’s not just technical roles that are in demand. Project managers and business analysts who understand the potential of AI and can develop strategies for implementing AI are also in high demand.
A key driver of India’s AI revolution is the enabling policy environment. The establishment of three Centers of Excellence to develop AI for India and make AI available in India, announced by the government in its latest budget, is a necessary step to drive practical impact. It’s a progressive step in building core competencies in AI and Design Thinking. The Indian government has also announced that it will roll out his INDIAai programme. This will lead to a proliferation of AI use cases through the IndiaAI stack. The Central IT Ministry has a natural language AI platform “Bbashini”. The team responsible for this platform aims to harness the power of AI and other emerging technologies to build a national public digital platform for languages to develop services and products for citizens.
India’s huge and diverse population gives it an edge in AI innovation. With a population of over 1.3 billion people, India has a wealth of data that is a key factor in AI development. You can use your data to train algorithms to build more accurate and effective models. India’s tech industry is projected to reach $245 billion in fiscal year 2023 and is estimated to reach $500 billion by 2030 (Nasscom). The industry continues to be a net employer with a workforce of over 5.4 million people, and in 2023 he will create 290,000 new jobs.
As India continues to innovate and lead in this space, there will be many exciting new technologies and solutions coming out of the country. AI-powered innovations in India are virtually limitless, from personalized healthcare to smart agriculture, from virtual assistants to self-driving cars. India is poised to become a global leader in the AI revolution thanks to its thriving technology industry, talented workforce and diverse population. As the field continues to grow and evolve, India will lead the next wave of AI-powered advancements and change the future in exciting and unexpected ways.
