The spending on artificial intelligence (AI) and generative AI (GenAI) in India is expected to reach $6 billion by 2027, at a compound annual growth rate (CAGR) of 33.7%, due to the increasing applicability of AI across the globe.
India AI GenAI Spending to Reach 6B doller by 2027
This is indicated in a research that was made public on Monday by International Data Corporation (IDC), a well-known worldwide supplier of market intelligence.
The country has seen a notable surge in the adoption of AI and GenAI, including hardware, software, and services for AI-centric systems, according to the IDC report.
In terms of generative AI, India is the sleeping giant. Vice President of data, analytics, AI, sustainability, and industry research at IDC Asia/Pacific Dr. Christopher Marshall said that the industry’s startups, scale, and capabilities are poised to revolutionize AI not just in India but globally.
IDC Asia, India AI GenAI Spending to Reach 6B doller by 2027
Sixty-six percent of Indian businesses are already focused on GenAI proof of concepts (POCs) or have an investment plan in place, according to Linus Lai, VP, Digital Business, IDC Asia/Pacific.
This AI Moment is a consistent performer. “With data as its most valuable asset, its implications for India are wide-ranging and strike at the core of culture and business model transformation,” Lai pointed out.
By 2027, the size of the global AI market is expected to have more than doubled to $512 billion, with India playing a major role in shaping global trends.
A shift in human-delivered services for strategy, change, and training to prepare organizations for AI everywhere is predicted by the report, which states that by 2025, 40% of service engagements will involve GenAI-enabled delivery.
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