Between 2023 and 2024, over 650,000 employees in India will undergo Gen AI training amid a surge in AI adoption, with initiatives growing 2.7x, as per Deloitte.
Additionally, 70+ startups providing Gen AI solutions have collectively secured over $590 million in investor funding.
The report forecasts India’s Gen AI market to grow at a CAGR exceeding 24.4% from 2023 to 2030, potentially contributing $359-438 billion to GDP by 2029–30.
Presently, sectors like healthcare, retail, education, and agriculture leverage Gen AI tools to enhance operations and gain a competitive edge.
GenAI technology can personalize student assessments, monitor crop health and yield for farmers, and streamline processes like candidate screening, talent acquisition, employee engagement, and training for HR professionals.
“Organizations acknowledge Gen AI’s potential to revolutionize their operations, ranging from personalized customer interactions to predictive analytics and automating routine tasks,” stated the report.
The report emphasized that the accessibility of advanced machine learning algorithms, large language models, and the abundance of data are driving the development and adoption of Gen AI tools.
“Implementing robust encryption and access controls is essential to mitigate the risk of unauthorized access or breaches in GenAI technology,” the report emphasized.
It highlighted that safeguarding the integrity of GenAI models is critical to preventing adversarial attacks and upholding the reliability of AI-generated outputs.
In addition to Gen AI, India is positioned for excellence in spatial computing and the industrial metaverse, converging the digital and physical realms to deliver immersive experiences.
Virtual reality and augmented reality tools provide examples like virtual banking experiences or immersive training for medical professionals.
The report highlighted that with hardware advancements capable of spatial mapping and processing high-fidelity 3D assets, the metaverse is transitioning from an entertainment-focused tool to an enterprise-ready productivity tool.
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