India Leads The World In Artificial Intelligence Adoption, Thanks To COVID-19

The study said India witnessed the highest increase in AI use compared to major economies like Britain, Japan and the US, with over 70 per cent of Indian organisations having implemented AI in some functional areas in 2020 as compared to around 62 per cent last year. Also, over 90 per cent companies are implementing or planning to invest in AI solutions to address current business concerns, the survey said. According to the survey, AI adoption in India was led by the travel and hospitality sector with 89 per cent of the surveyed firms doing so, followed by telecom, media & technology firms (86 per cent), financial services (82 per cent), and 73 per cent of healthcare and pharma companies adopting it during the year. AI is deployed across business functions like customer service, finance and tax, HR, IT and cyber security, manufacturing and operations, R&D, risk, legal and compliance, sales and marketing, supply chain and logistics, among others. The survey also shows that optimism with regard to AI in reducing cost and maximising revenue has gone up significantly from 72 per cent to 92 per cent in India, and 45 per cent of organisations have increased the use of AI since the pandemic hit them. Further, 94 per cent of the respondents have either implemented or are planning to implement AI in their organisations.