Do Indians trust AI?

The Indian market offers tremendous scope for technology-assisted solutions, and in recent years, it has been an active enabler for adopting analytics and AI-based solutions, according to a study by ResearchAndMarkets on 20 Mar 2019.

The push from the government to utilize technological advancements to reduce financial losses and increase output efficiency has also been a key driver for the adoption of Artificial Intelligence (AI) applications in India, said the study “Assessment of Artificial Intelligence Market in India – Key Industrial Applications and Insights, 2018”.

While there is considerable traction in the adoption of advanced technology, the Indian market has its own challenges as compared to other developed nations, it highlighted.

As a result, service offerings in the AI market are subjected to challenges such as reluctance to invest, lack of trust owing to data privacy concerns, and security issues.

There has been an exponential increase in the number of AI-based start-up companies in India in the last five years, which are focused on delivering solutions that cater to industry-specific requirements and generate reliable, revenue-generating insights.

The democratization of data brought about by the digital revolution has led to increasing adoption of AI-related technologies, which help business processes shift from a traditional data-centric IT to a more evolved information-centric IT process.

The combination of superior hardware, cloud-based computing, and the proliferation of Big Data technology has spurred considerable development in the performance of machine learning – one of the pillars of AI that enables machines to learn from their own experience rather than from human intervention.

By leveraging the advanced insight-generation and knowledge engineering capabilities of AI, businesses have the power to make informed decisions based on logical reasoning, said the report. fiinews.com