80% of Indian companies find AI a top priority for their implementation: Report
India has positioned itself as a leader in artificial intelligence (AI) adoption, with 80 percent of companies identifying AI as a top priority — higher than the global average of 75 percent, according to a report Wednesday. About 69 percent of Indian companies plan to increase investment in technology by 2025, with one-third allocating $25 million to AI initiatives, says a Boston Consulting Group (BCG) report.
Also, less than 10 percent of Indian managers expect a decrease in the number due to AI-driven automation, it added.
“This is in line with the nation’s digital transformation agenda. Adding to this context, 69 percent of Indian firms plan to increase their technology investments by 2025, with one-third making more than $25 million in AI initiatives,” said Nipun Kalra, India Leader, BCG X, BCG.
About 81 percent of Indian companies acknowledge the need for significant improvements in AI-related cybersecurity practices, which is important given the growing complexity of AI applications.
“Interestingly, Indian companies are also embracing AI for high-impact applications, with a strong focus on re-engineering workflows and inventing new business models, positioning India as a driver of innovation in this space,” said Kalra.
While 76 percent of Indian executives agree that significant improvements are needed in AI cybersecurity practices, 54 percent cite regulatory challenges as the biggest factor holding back AI adoption.
Globally, only 7 percent of managers expect that AI automation will lead to a complete reduction in the number.
“In my conversations with CEOs, it is clear that they are prioritizing AI to drive productivity,” said Christoph Schweizer, CEO of BCG.
“The leading adopters of AI have cracked the code on how to achieve impact by focusing on a targeted set of AI programs, scale them up quickly, transform core processes, improve their teams’ capabilities, and systematically measure operational and financial benefits,” Schweizer said.
