India Artificial Intelligence (AI) Market Size & Industry Forecast Report 2021-2028

 

India Artificial Intelligence Market

The Research report published by the GMI Research envisages that the India Artificial Intelligence Market will surge up over the forecast period. The rising acquisition of cloud-based services and the growing demand for intelligent virtual assistants will stimulate market growth. The accelerating perforation of artificial intelligence in various industries such as security, automotive, and manufacturing will significantly influence market growth.

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India Artificial Intelligence Market Dynamics

The increasing adoption of artificial intelligence guided by the intensified government initiatives in the nation is one of the prime forces supplementing the growth of the India Artificial Intelligence Market. For example, the Indian Government in 2021 amalgamated with the United States to introduce USIAI (US India Artificial Intelligence) to expand the S&T relationship between the United States and India. Also, NITI Aayog in 2020 invited various health-tech organizations and institutions under 'Empowered Group 6' in order to influence their cost-efficient innovative technologies to inhibit the coronavirus. This comprises Qure.ai that implements AI-facilitated anatomy of chest X-rays to diagnose COVID-19 lung infection in less than a minute, and Mfine, an AI-powered platform for online doctor consultation and telemedicine.

Furthermore, the evolution of startups in Artificial Intelligence will encourage growth and innovation in the nation. Indian AI foundation acquired $836.3 million, a substantial funding investment during the past seven years. Moreover, the Indian government in 2020 raised the outgoings for Digital India to USD $477 million to amplify cybersecurity, the Internet of Things, AI, big data, machine learning, and robotics.

However, the rules and regulations and the morals and ethics issue with AI and ML solutions lack transparency which is hampering the market growth. Policy contracts and working orders on Artificial Intelligence published by the Niti Aayog identify moral and fundamental distress with the application of AI.

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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