AI could add $1.7 trillion to India’s economy by 2035: Govt
The Indian economy is on the cusp of a significant transformation, driven by the rapid adoption of Artificial Intelligence (AI) technologies. According to a recent statement by the government, AI has the potential to add a staggering $1.7 trillion to the country’s economy by 2035. This projection is a testament to the vast potential of AI to drive growth, innovation, and productivity in various sectors of the economy.
The government’s statement, made on Tuesday, highlights the significant investments being made to promote the development and deployment of AI in India. Over the next five years, a total of ₹10,300 crore has been allocated under the IndiaAI Mission, a flagship initiative aimed at fostering a vibrant AI ecosystem in the country. This allocation is expected to support research and development, talent acquisition, and infrastructure development, among other areas.
One of the key focus areas of the IndiaAI Mission is the deployment of Graphics Processing Units (GPUs), which are essential for training and running AI models. The government has already made significant progress in this regard, with over 38,000 GPUs being deployed so far. This infrastructure will enable researchers, startups, and industry players to develop and deploy AI solutions at scale, driving innovation and growth in the process.
The impact of AI is already being felt in the Indian startup ecosystem, with nearly 89% of new startups launched last year using AI in their products or services. This trend is a reflection of the growing recognition of AI as a key enabler of business success, and the government’s efforts to promote AI adoption are likely to further accelerate this trend.
The potential of AI to drive economic growth is well-documented, and India is well-positioned to leverage this technology to drive development and prosperity. AI can help improve efficiency, productivity, and decision-making in various sectors, including healthcare, finance, education, and manufacturing. By adopting AI, Indian businesses can become more competitive, innovative, and responsive to changing market conditions.
The government’s focus on AI is also expected to create new job opportunities and skill development programs, helping to address the growing need for AI talent in the country. As AI adoption becomes more widespread, the demand for professionals with expertise in AI, machine learning, and data science is likely to increase, creating new career paths and opportunities for Indian youth.
The IndiaAI Mission is a critical component of the government’s broader strategy to promote AI adoption and development in the country. The mission aims to create a vibrant AI ecosystem, with a focus on research, development, and deployment of AI solutions. By providing funding, infrastructure, and talent support, the government is helping to create an enabling environment for AI innovation and growth.
In conclusion, the government’s statement on the potential of AI to add $1.7 trillion to the Indian economy by 2035 is a significant development, highlighting the vast potential of this technology to drive growth and prosperity. With the IndiaAI Mission and other initiatives, the government is taking proactive steps to promote AI adoption, development, and deployment in the country. As AI continues to transform the Indian economy, it is likely to create new opportunities, jobs, and industries, driving a brighter future for the country.
Source: https://www.pib.gov.in/PressNoteDetails.aspx
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