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Artificial intelligence can raise incomes 15% in India by 2035

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NEW DELHI: This morning, the news was about Flipkart focussing on artificial intelligence (AI) to grow business - a trend being observed across trade and commerce. On Thursday, IT company Accenture released a report, titled'Rewire for Growth', which said AI has the potential to add $957 billion (Rs 62,29,113 crore) to India's GDP by changing the nature of work to create better outcomes for businesses and society. AI has the potential to increase India's annual growth rate of gross value added (GVA) by 1.3 percentage points, lifting the country's income by 15 per cent in 2035, said the report. Either for its awe-inspiring technical undertone or simply novelty, the concept of artificial intelligence had not gained much acceptance. Also, it is widely being viewed as a major threat to jobs, especially those of first and mid-level techies.