India (Commonwealth)_
In recent years, the widespread integration of emerging technologies, particularly artificial intelligence (AI), has become a prominent trend in India Inc., signaling a critical need for businesses to stay abreast of technological advancements. According to the ‘AI Adoption Index 2023,’ a comprehensive report commissioned by IBM and conducted by intelligence firm Morning Consult, approximately 59% of Indian enterprises are actively deploying AI for various organizational use cases, positioning the country among the leading nations in embracing this transformative technology.
The report, based on a survey encompassing more than 8,500 technology professionals across multiple countries, including India, Australia, Canada, and France, reveals a significant uptick in AI implementation within the Indian business landscape. Notably, nearly six out of ten IT professionals reported that their companies are actively implementing generative AI, with 74% of them intensifying investments or accelerating the rollout of AI initiatives over the past 24 months. The focus areas for these investments include Research and Development (R&D), reskilling and workforce development, and the creation of proprietary AI solutions.
One of the driving forces behind this surge in AI adoption is the rise of user-friendly AI tools, coupled with the imperative to streamline processes and cut costs through automation. As per the findings, organizations are leveraging AI to address labor and skills shortages by automating manual or repetitive tasks, enhancing customer self-service through automation tools, and optimizing recruiting and human resources processes.
A noteworthy statistic from the report indicates that almost 46% of companies are actively engaged in training or reskilling their employees to collaboratively work with new automation and AI tools. Additionally, 51% of respondents reported that employees within their organizations are enthusiastic about incorporating new AI and automation tools into their workflows.
Despite the positive momentum, the report highlights a set of challenges that continue to impede the broader adoption of AI in the Indian business landscape. Ethical considerations and limited skill sets emerge as the foremost concerns hindering organizations from fully embracing the potential of AI. Approximately 30% of surveyed employees expressed limitations in AI skills and expertise, while 27% believed that AI projects were perceived as too intricate or challenging to integrate and scale.
Commenting on the findings, Sandip Patel, Managing Director of IBM India and South Asia, emphasized that while the increased adoption of AI and augmented investments by Indian enterprises are indicative of the tangible benefits derived from AI, there exists a substantial opportunity for further acceleration. Patel noted that many businesses still exhibit hesitancy in moving beyond experimentation and deploying AI at scale.
In the realm of AI, the Indian business landscape is at a pivotal juncture, where organizations are not only recognizing the operational efficiencies brought about by AI but are also actively investing in upskilling their workforce to harness the full potential of these technologies. The widespread adoption of generative AI and the accelerated investments in R&D underscore the commitment of Indian enterprises to stay competitive in the global market.
The report’s insights shed light on the strategic priorities of Indian businesses, with a focus on leveraging AI to mitigate skills shortages, enhance operational efficiency, and foster innovation. As organizations navigate the evolving landscape of AI adoption, addressing ethical concerns and bridging skill gaps will be paramount to unlocking the full transformative potential of this cutting-edge technology. With a robust foundation in AI adoption already laid, India Inc. is poised to navigate the path ahead, balancing innovation with ethical considerations for a sustainable and technology-driven future.
