India leads global AI adoption with 30pc companies maximising AI value: Report

New Delhi, Nov 11 (IANS) India leads Artificial Intelligence (AI) adoption with 30 per cent of companies in the country having maximised AI’s value potential -- surpassing the global average of 26 per cent, according to a report.The report from Boston Consulting Group (BCG) showed that Indian companies prioritise fewer, high-impact AI initiatives, scaling these efforts 1.7 times more effectively than others. These companies achieved a remarkable 2.1x Return on Investment (ROI) compared to global peers.With 100 per cent of companies actively experimenting with AI, India stands out for its readiness to harness AI’s potential, revealed the report based on a comprehensive survey of 1,000 CxOs and senior executives from over 20 sectors, spanning 59 countries in Asia, Europe, and North America, and covering ten major industries.The report showed that even with the widespread implementation of AI programmes across industries, only 26 per cent of companies globally developed the necessary set of capabilities to move beyond proofs of concept and generate tangible value.“India's swift adoption of AI is redefining its competitive edge globally, with 30 per cent of Indian companies having maximised AI’s value potential - - surpassing the global average of 26 per cent,” said Saibal Chakraborty, India Leader, Technology and Digital Advantage Practice, BCG.Chakraborty noted that the “maturity of India’s AI leaders spans both traditional and digital sectors”. This signals “a broad-based adoption that drives value beyond typical tech-driven industries”.“As India’s AI leaders go beyond productivity to reshape and invent new business models, India is poised to lead not only in AI adoption but in generating substantial, and measurable value,” Chakraborty added.The report said that just 4 per cent of companies have developed cutting-edge AI capabilities across functions and consistently generate significant value. About 22 per cent have implemented an AI strategy, built advanced capabilities, and are beginning to realise substantial gains, the report said. However, 74 per cent of companies are yet to show tangible value from their use of AI, it noted.--IANSrvt/

Yubaraj

Nov 11, 2024 - 08:01

New Delhi, Nov 11 (IANS) India leads Artificial Intelligence (AI) adoption with 30 per cent of companies in the country having maximised AI’s value potential -- surpassing the global average of 26 per cent, according to a report.

The report from Boston Consulting Group (BCG) showed that Indian companies prioritise fewer, high-impact AI initiatives, scaling these efforts 1.7 times more effectively than others. These companies achieved a remarkable 2.1x Return on Investment (ROI) compared to global peers.

With 100 per cent of companies actively experimenting with AI, India stands out for its readiness to harness AI’s potential, revealed the report based on a comprehensive survey of 1,000 CxOs and senior executives from over 20 sectors, spanning 59 countries in Asia, Europe, and North America, and covering ten major industries.

The report showed that even with the widespread implementation of AI programmes across industries, only 26 per cent of companies globally developed the necessary set of capabilities to move beyond proofs of concept and generate tangible value.

“India's swift adoption of AI is redefining its competitive edge globally, with 30 per cent of Indian companies having maximised AI’s value potential - - surpassing the global average of 26 per cent,” said Saibal Chakraborty, India Leader, Technology and Digital Advantage Practice, BCG.

Chakraborty noted that the “maturity of India’s AI leaders spans both traditional and digital sectors”. This signals “a broad-based adoption that drives value beyond typical tech-driven industries”.

“As India’s AI leaders go beyond productivity to reshape and invent new business models, India is poised to lead not only in AI adoption but in generating substantial, and measurable value,” Chakraborty added.

The report said that just 4 per cent of companies have developed cutting-edge AI capabilities across functions and consistently generate significant value. About 22 per cent have implemented an AI strategy, built advanced capabilities, and are beginning to realise substantial gains, the report said. However, 74 per cent of companies are yet to show tangible value from their use of AI, it noted.

--IANS

rvt/

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