According to a recent Boston Consulting Group (BCG) report, “Where’s the Value in AI?” which polled 1,000 top executives from a variety of industries across 59 countries, India is quickly turning into a leader in artificial intelligence (AI), surpassing the global average for AI adoption. Indian businesses are embracing and maximizing AI capabilities at an impressive rate, setting a global benchmark in emerging AI technologies.
30% of Indian businesses, compared to the worldwide average of 26%, have completely realized the value potential of AI, the survey claims. BCG’s Technology and Digital Advantage Practice Leader for India, Saibal Chakraborty, emphasized this trend by saying, “India’s rapid adoption of AI is reshaping its global competitive edge.” India is uniquely positioned to benefit from AI’s promise, since all businesses are actively experimenting with it.
Both conventional and digital sectors have benefited from India’s success with AI, indicating potential value creation that goes well beyond usual tech-driven businesses. This widespread adoption positions India as a potential global leader in AI value generation by enabling Indian enterprises to reinvent business models and increase efficiency.
According to the report, adoption rates of AI differ around the globe, with the software, finance, and banking industries setting the standard for everyday AI applications. Only 4% of businesses have developed state-of-the-art AI systems that can provide high-value outcomes, despite the fact that 22% of businesses globally have adopted AI strategies. CEOs are ready to see quantitative returns after years of investment and talent acquisition, even though 74% are still working toward achieving these advantages.
Despite broad interest, just 26% of businesses globally have moved past early AI experiments to provide tangible value, according to BCG’s research. This emphasizes the possibility and difficulty of accomplishing significant AI integration.
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