AI can add $957 bn to Indian economy in 2035, says Accenture report

Artificial intelligence could add $957 billion to the Indian economy and will lift the country's income by 15% in 2035, a new research report from Accenture showed. AI has the potential to increase India's annual growth rate of gross value added (GVA) by 1.3 percentage points, the report, called'Rewire for Growth', estimated. "The economic boost will be driven by innovative AI technologies that enable people to make more efficient use of their time and do what humans do best – create, imagine and innovate new things. What's needed is a clear, long-term vision, and a multi-stakeholder action plan that balances growth with the ethical questions posed by AI," Rekha M Menon, senior managing director and chairman, Accenture India, said. AI startups have witnessed higher than average growth in India since 2011, the report said.