The Prospects of AI and ML in the Indian Market

Hashedin

Judelyn Gomes and Pooja Joshi

20 Dec 2019

Machine learning and artificial intelligence (ML & AI) are integral elements of the contemporary tech world and are witnessing a fast-paced growth rate in India. ML-AI and Big Data have especially emerged as the backbone of the new-age and innovative startups of the nation.

 

As per a report made by PwC on the impact of artificial intelligence across industries and user groups in India, 58-74% of the respondents said that AI is likely to aid cybersecurity and economic growth in the country. While 71% believe that AI will help humans solve complex problems and enhance their standard of living.

 

According to Deepak Garg, the Director of NVIDIA-Bennett Center of Research in Artificial Intelligence, there has been a considerable growth in the interest levels witnessed in the domain of AI among all industry sectors in India. A PwC report underlined that this growth can be most significantly seen in the IT/ITES industry. In the country’s IT industry, machine learning has subsequently emerged as the most popular AI-powered solution available. A balanced focus on multiple AI-powered solutions has been given in the overall technology sector of India. Therefore, this domain is right at the forefront of AI research and commercial deployments of the country.

 

Raju Shetty, head of Engineering, Razorpay, mentions that technologies like AI and ML are playing a crucial role in dealing with fraud cases in fintech startups like his. These technologies help his company, as well as, many others to interpret huge amounts of data within a limited period.

 

Many global players offering AI and ML services and resources have entered the Indian market over the years, including the Amazon Web Services [AWS]. Thousands of active clients now use the AWS Cloud across India for a magnitude of applications, including the Internet of Things (IoT), ML/AI, web hosting, and big data analytics. IT resources based on Machine Learning and Artificial Intelligence are especially popular among Indian businesses. Well-recognized Indian companies like Aditya Birla Group, Mahindra, and Aruba (HPE) also use AWS resources. AWS has emerged as an undisputed Public Cloud leader in the world by having a 47.8% share in the Cloud infrastructure market in the globe, as per a 2018 report by Gartner, Inc.

 

In comparison to other cloud platforms, AWS companies can avail the broadest and deepest set of tools that facilitate the creation of fast and impactful machine learning solutions. With AI services from AWS, on the other hand, people can add capabilities like virtual assistants, forecasting, local languages, as well as, image and video analysis to their applications.  In the modern world, multiple tech products are deployed with the usage of AI and MI and influence on diverse sectors of the society, including finance travel, education, and health.

 

Scenarios of AWS ML AI Tools and Services Influencing the Indian Market

 

 

AWS enables companies to enjoy ML-AI benefits, without having any prior knowledge and skills about these systems. It provides companies with the opportunity to innovate their business processes and keep iterating, without making any fixed IT investments.

 

Aakrit Vaish, CEO of Haptik Inc., underlines than in the next decade one can expect that the understanding of AI and its workings would become more commonplace among the majority of Indian technical industry executives. Sundara Ramalingam Nagalingam, Head of Deep Learning Practice at NVIDIA India, additionally stresses upon the fact that India has the necessary IT infrastructure, vibrant startup ecosystem, and qualified talent to optimally harness the power of AI. Hence, keeping all these factors in mind, the prospects of AI and ML in India indeed seems to be quite bright.


Have a question?

Need Technology advice?

Connect

+1 669 253 9011

contact@hashedin.com

linkedIn youtube