- Tuesday, February 25, 2025
The report by Nasscom and BCG said India has the highest skills penetration with respect to AI.
By: Shubham Ghosh
INDIA’S artificial intelligence (AI) market is expected to touch $17 billion (£13.4 billion) by 2027, growing at an annualised rate of 25-35 per cent between now and 2027, information technology (IT) industry body Nasscom and consulting firm BCG on Tuesday (20) said, citing a joint report studying AI-powered tech in the country.
The growth is seen on the back of a rise in enterprise tech spending, the country’s expanding AI talent pool and a rise in AI investments, the two said in a statement ahead of the report’s release on Wednesday (21).
India has more than 420,000 employees who currently hold positions in various AI job functions, the report said, adding that the country also has the highest skills penetration with respect to AI.
Read: Indian businesses pip US, UK counterparts in using artificial intelligence: report
The report involved a survey of over 65 respondents across larger-tech and mid-tech companies as well as those in the business process management space and global capability centres.
The report comes as IT companies have earmarked significant budgets to train their employees, invest in startups and expand capabilities in the emerging technology.
Read: Must protect world against weaponisation of artificial intelligence: Narendra Modi
Last year, Wipro had announced $1 billion (£792.6 million) in investment in AI over three years.
With investment in AI rising, the subsequent demand for AI talent in India is also expected to grow at an annualized rate of 15 per cent until 2027, the report said.
Of the top 25 technology service providers, 90 per cent have made large-scale Gen AI skilling commitments, it added.
(With agency inputs)
