Explained: Why Artificial Intelligence will drive future growth and inclusion - The Financial Express

Many economies--France and China, most prominently--have either formalised strategies to harness and realise the potential of artificial intelligence (AI) or are already heavily investing in AI. The NITI Aayog's National Strategy for Artificial Intelligence #AIforAll that outlines focus areas for adoption and possible challenges, therefore, merits close attention from policy-makers if India is to leverage AI for growth, development and greater inclusion. Indeed, adopting AI means a 15% boost for the gross value added (GVA) for the economy by 2035--NITI estimates that AI could potentially add $957 billion to India's $6,397-billion dollar GVA projected for that year. The focus areas that NITI has in mind--healthcare, agriculture, education, urban development/ smart cities & infrastructure, and mobility and transportation--hold both great promise and risk for the country. Consequently, the rewards from adopting AI in these areas and the opportunity cost of deferring such adoption will thus be either transformative or ruinous, respectively, for the country.