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The Future Scope of AI in India in 2022

Do you want to know the future of AI in India? In today’s world, technology is advancing at a very rapid speed as companies are investing in artificial intelligence. In the future, there would be an exponential growth of AI and its usage. This will lead to the best possible outcome for our country India. Further, it can be used by different agencies like Defence, Digital Marketing, Banking & Finance, Retail, etc.

AI in India in 2022: Introduction

Artificial Intelligence (AI) has taken over the current scenario with its advanced level of intelligence. It helps us to accomplish various tasks ranging from getting recommendations on shopping. Also, seeking suggestions related to any issues or concerns regarding health and so on.

With advancement in technologies the future seems quite promising with intelligent machines doing more than just one task.

The use of artificial intelligence (AI) can help make digital marketing more efficient and effective. AI can help analyse customer data and behaviour, and then use this information to create personalised messages and offers. This can help increase customer engagement and conversion rates. AI can also help automate some of the tasks involved in digital marketing, such as creating and managing campaigns, analysing data, and optimizing websites. This can help save time and money, and improve the overall efficiency of digital marketing strategies.

AI in India in 2022: Methodology

The study uses a number of secondary data sources. Such as International Data Corporation (IDC), Forbes, Financial Express and other government documents for this research work.

The authors have also used their personal experience in analyzing the impact of AI in India.

Future scope of AI in India in 2022

  • As per the statistics provided by IDC, it is estimated that India will spend around $0.3 billion on AI and BOT projects by 2020. It will help to create 52,000 jobs in the country.
  • Defence Research and Development Organization (DRDO) has invested Rs 700 crores ($115 million) for developing intelligent machines like automated robotic arms. These robots find application in areas such as bomb disposal, decontamination and deactivation of explosives.
  • AI in India has also started showing its impact on the agriculture sector where intelligent machines are being used for pest control, soil testing, crop identification, and others.
  • All these applications have helped to improvise the status of agriculture sector in India which at present contributes 29% to country’s GDP whereas 66% of population is still reliant on farming for their existence.

With the help of AI, more farmers will be able to get the latest information on market rates, availability of seeds & fertilizers, etc.

They are leading towards the overall growth of the agriculture sector in the country.

The Indian Government has also taken steps to promote usage Artificial Intelligence by setting up Centre Of Excellence (COE) for AI at IIIT-Hyderabad. Where the government would share around Rs 43.8 crore for the next 5 years. The Centre has expected to research areas like new algorithms, applications of machine learning and related mathematics basics for AI.

Certain challenges should have addressed if India wants to reap benefits out of Artificial Intelligence:-

  1. The primary challenge that lies ahead is that of choosing suitable technology-focussed policies as policies. They are technology focussed cannot help boost up new technologies like AI, AR/VR, etc.
  2. Secondly, there needs to be a significant increase in the number of technical graduates. They can contribute towards the development of advanced technologies such as AI, BOT, etc.,
  3. Thirdly, there need to be greater investments by both government and private sectors. So, our country can become a global hub for AI development.

AI in India in 2022: Conclusion

With the changing scenario of technologies, there is a huge potential for Artificial Intelligence in India. As it has already started showing positive signs towards increase in agriculture and defence sector.

Further, as per the estimations, Indian AI market will be worth $5 billion by 2025. From its present value of $0.21 billion. It is great news for companies looking to invest into Indian AI market.

Moreover with increased focus on new technologies such as AI, AR/VR, etc.

Our country has expected to play an important role in the coming future. And become a global hub for research and development (R&D) work. It is related to cyber security and Artificial Intelligence.

Our country is certainly ready for coming changes and any industry or organization. It wishes to thrive in the coming age of Artificial Intelligence must start making plans for the same. Otherwise, they will face extinction in the coming times due to the increased pace of development related to intelligent machines.

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