AI can add $957b to economy - ETtech

Artificial intelligence (AI) can add $957 billion into the Indian economy by changing the nature of work and improving the outcomes for Indian businesses and the society in general, global technology consulting firm Accenture has said. Highlighting the fact that India is third in the number of startups active in this space, it said the number of such entities has grown 86% over the last five years. But in terms of funding, India is lagging behind the US and China, which reflects the limited success such startups have had. "Machine learning, recommendation engines and computer vision are the most popular segments, accounting for almost 80% of total funding. Internet, including business-to-consumer (B2C) offerings, is the best-performing sector both in terms of total number of startups and funding received, followed by mobile and telecom," it said.