India’s AI Market Forecasted to Surge to $17 Billion by 2027, New Study Finds

Adam Carter

According to a report by Nasscom-BCG, India’s AI market is growing rapidly and is expected to reach US$17 billion by 2027. The country is projected to see a 25% CAGR in the AI market, with similar growth in AI investments. Over the past 12 months, the technology industry in India has seen over 15% growth in AI/ML jobs, with positions such as AI engineers growing at a remarkable 67% year-on-year.

Why This Matters

Indian tech companies are transforming with the advent of GenAI. These businesses are adding AI-driven analytics, intelligent automation, and customized customer experiences to their portfolios in addition to traditional IT and business process management. The tech sector in India is creating future-ready organizations with dynamic and evolving centers of excellence driving the AI agenda, according to Rajiv Gupta, MD, and senior partner at BCG.

The growth of AI in India is not just limited to the tech sector. Various industries such as healthcare, finance, retail, and manufacturing are also leveraging AI to improve efficiency, reduce costs, and drive innovation. AI is being used for predictive analytics in healthcare, fraud detection in finance, personalized shopping experiences in retail, and predictive maintenance in manufacturing, among other applications.

t/f Summary: AI is KING

India’s AI market is on a rapid growth trajectory.  India (and other tech-driven economies) is well-positioned to become a global leader in AI, driving innovation and shaping the future of technology.

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By Adam Carter “TF Enthusiast”
Adam Carter is a staff writer for TechFyle's TF Sources. He's crafted as a tech enthusiast with a background in engineering and journalism, blending technical know-how with a flair for communication. Adam holds a degree in Electrical Engineering and has worked in various tech startups, giving him first-hand experience with the latest gadgets and technologies. Transitioning into tech journalism, he developed a knack for breaking down complex tech concepts into understandable insights for a broader audience.
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