New Delhi: India is at the forefront of Artificial Intelligence (AI) adoption, as highlighted by recent research from Boston Consulting Group (BCG), which indicates that 30 percent of Indian companies are effectively leveraging emerging technologies to maximize value.
According to the BCG report, 26 percent of global companies are incorporating AI into their operations.
The sectors of Fintech, software, and banking are increasingly integrating AI into their processes.
Following years of investment, recruitment of talent, and pilot projects in artificial intelligence (AI), CEOs are now seeking concrete returns from this technology, as per the report. However, it also notes that realizing its full potential remains a challenge.
Despite the widespread implementation of AI programs across various industries, only 26 percent of companies have developed the necessary capabilities to transition from proofs of concept to generating tangible value, as highlighted by the BCG research.
The report, titled 'Where's the Value in AI?', is based on a survey of 1,000 Chief Experience Officers (CxOs) and senior executives from over 20 sectors, covering 59 countries in Asia, Europe, and North America, and including ten major industries.
While only 4 percent of companies globally have achieved cutting-edge AI capabilities across all functions and consistently generate significant value, an additional 22 percent have implemented an AI strategy.
The report further states that 74 percent of companies have not yet demonstrated tangible value from their AI implementations.
"India's rapid adoption of AI is reshaping its competitive landscape globally, with 30 percent of Indian companies surpassing the global average of 26 percent in maximizing AI's value potential. With 100 percent of companies actively experimenting with AI, India stands out for its readiness to fully leverage AI's potential," stated Saibal Chakraborty, India Leader of the Technology and Digital Advantage Practice at BCG.
Furthermore, the report highlights the maturity of India's AI leaders across both traditional and digital sectors, indicating a widespread adoption that is driving value beyond the typical tech-driven industries.
"As India's AI leaders move beyond productivity to innovate and reshape business models, India is positioned to lead not only in AI adoption but also in creating substantial, measurable value," concluded Chakraborty.
