India’s Booming Growth Rate of AI, Touching $17 Billion in 2027

Ranking among the top tech nations, India has always found a niche in capturing the AI market, with an expected growth rate of 15% by 2027. Over the years, the number of people taking up AI as a specialization has doubled. Even the investments in this sector are promising, with the NASSCOM asserting it. Our organizations are becoming future-ready with a working AI agenda to keep pace with the growth of AI.

Changing IT Market

According to the market research report, the top buy has been the AI/ML capabilities from India, boosting the AI market in terms of IT expenditure made by buyers of IT services in the financial year 2023.

Changes in the Indian IT market happened due to a myriad of reasons to shoot up tech spending. However, the AI talent base sure has the AI investments ringing in, as per reports. The president< Debjani Ghosh of NASSCOM, has stated that IT businesses have expanded their portfolios and are providing AI-driven analytics, personalized customer interactions, as well as intelligent automation to IT buyers.

AI Adaption

Traditional IT players have now adopted generative AI. They are beginning their journey to bring bigger investment skilling in AI, making it secure and ethical. Tech companies are also working on AI development practices along with frameworks so that AI becomes a more viable option in the future.

India presently has the advantage of having the highest talent base, with 420,000 employees working in AI job functions. This skill talent is apparently 3 times more than other countries across the globe, ranking us 5th  among other nations competing for the spotlight as more individuals getting skilled in AI has increased to 14 times in 7 years, according to the CAGR report.

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