Indian enterprises increase AI adoption, says report

Indian enterprises have elevated AI adoption and industrial merchandise and the manufacturing sector seeing most adoption charges following the Covid-19 pandemic, a report mentioned. According to a PwC report titled ‘Towards a wiser tomorrow: Impact of AI within the post-COVID period’ the commercial merchandise and manufacturing sector has seen the utmost adoption of AI/ML (Artificial Intelligence/ Machine Learning) over the past two years. Almost 64 per cent of the organisations surveyed within the industrial merchandise and manufacturing sector say they’re at present at an early stage of their AI-based transformation journey reflecting the alternatives for additional investments and progress led by AI/ML options on this sector, it mentioned.

PwC mentioned it performed surveys with 220-plus CXOs and decision-makers throughout the Indian market in 2022-23. This was a follow-up to the survey performed in 2020.

“While there has been a significant increase in AI adoption with scalable impact in terms of returns, trends indicate that the travel and hospitality industry has reached a degree of saturation,” the report mentioned.

Further, the report mentioned that whereas the expertise, media, telecom, healthcare and pharmaceutical sectors have seen regular progress, they’re dealing with sure challenges round measuring the return-on-investments, particularly within the pre- and post-Covid-19 occasions.

“Compared to the other sectors, the retail and consumer market has seen a decline in AI adoption due to a gap in the identification of potential use cases amidst changing market forces and consumer behaviour,” it added.

On industrial merchandise and manufacturing, the report mentioned that over the previous two years, from mid-2020 to 2022-23, this sector has seen a most enhance of 20 per cent within the adoption/implementation of AI/ML options.

It additionally mentioned that in contrast with 2020, the journey and hospitality market is now shifting in the direction of saturation.

The sector has seen roughly 7 per cent progress in AI adoption, and nearly 99 per cent of organisations surveyed as we speak have both applied AI/ML at scale in at the least some areas.

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