According to an Intel India commissioned report undertaken by research firm IDC (International Data Corporation), one in five organizations in India is using artificial intelligence in some way.
IDC surveyed 194 Indian companies across four verticals — telecom, media & technology (TMT); retail; banking, financial services, & insurance (BFSI) and healthcare.
The report said 75 percent of the firms surveyed anticipate AI will provide benefits with employee productivity and business process efficiency. While 64 percent believe that this technology can empower them in revenue augmentation through better targeting of offers and improved sales processes.
At least 71 percent of organizations are looking at increased process automation as a key benefit and an almost equal number of firms (69 percent) are looking at increased employee productivity across several business functions, the report said.
With an adoption rate of 37.5 percent, The Technology, Media and Telecommunications (TMT) industry is the top early adopter of AI, followed by the Banking, Financial Services and Insurance and healthcare industries.
Indian enterprises have been quick to adopt artificial intelligence (AI) and according to the report, seven in 10 firms are anticipated to deploy AI by 2020.
However, despite a high adoption rate, there are genuine concerns about an acute shortage of skilled professionals, the high cost of solutions, unclear return on investment, and cybersecurity.
To solve the talent shortage issue, the Intel AI Academy Program that covers training on Intel's distribution of the leading AI programming language Python is tasked to educate 15,000 scientists, developers, analysts, and engineers on key AI technologies.
IDC is a leading provider of market intelligence solutions, advisory services, and events for the information technology and other related markets.