Artificial Intelligence: Growth and Development in Indiaby Monomita Chakraborty January 6, 2021
In order to solve social problems, Indian start-ups are growing and developing AI solutions in education, health, financial services, and other fields.
Artificial Intelligence (AI) is bringing a dramatic shift in the world of technology where it can be applied for more productivity and success in order to simplify the system. From just your cell phone to the diagnosis of diseases, AI is now being used in many fields, offering high-performance and precise device operation with quality. In every area and not just technology, it has proven to be a path-breaking technology.
As the fastest growing economy with the world’s second-largest population, India has a big stake in the AI revolution. The leading technology institutions in the country, such as IITs, NITs, and IIITs, have the ability to be the cradle of AI researchers and start-ups. In order to solve social problems, Indian start-ups are growing and developing AI solutions in education, health, financial services, and other fields.
For instance, the Deccan Article notes that the first Community Centre for Artificial Intelligence was launched in Hyderabad. They also mentioned that The HexArt Institute is an initiative of the Hexagon Capability Center India (HCCI), the greatest product development center of the technology major Hexagon AB. It recognizes this institution as an initiative of timely societal responsibility. The center will train over 350 students in several batches per year.
Some of the AI’s main prospects in India are:
• Digital assistants to be used by several highly advanced organizations to communicate with customers, saving the need for human resources.
• Together with other innovations, organizations can use AI to make machines take decisions faster than an individual and perform actions faster.
• In almost every area, AI powers several inventions that will help humans overcome the majority of complex issues.
• Trade and Development agreement to operate together to leverage the power of cutting-edge technology to improve and expand trade, such as AI and blockchain.
Additionally, companies like Google, Microsoft, Amazon are trying to achieve the government’s needs of cloud computing and machine learning. Private companies will rush to win big contracts, add to the stream of funds to create innovative technology, and establish new AI and data scientific startups as the Indian government pushes for digital transformation and introduces more AI initiatives.
However, some of AI’s major adoption challenges are:
• India has a comparatively small number of researchers in the field of machine learning and research production.
• India has very little local awareness of the latest knowledge that is being generated by others each day.
• Given the existing and potential possibilities, Indian businesses have been reluctant to accept AI.
• Despite the number of available standard packages, India does not have sufficient qualified personnel to apply machine learning to its own challenges and data.
• In its capacity to handle challenges, current AI strategies are minimal, and they will have to develop to deal with the complexity of life in India.
In general, India’s digital footprint has seen tremendous growth. The government is also moving different programs toward the objective of technical infrastructure. Different agencies and artificial intelligence institutes including sectors are developing policy structures and programs that instill such skills. With a little more drive towards resources and frameworks that boost its development, the Indian artificial intelligence market, which is still regarded as emerging, can certainly take a leap.