For over 65 per cent of organisations in India, the primary drivers for using Artificial intelligence (AI) are improved productivity and faster time to market with new products and services, International Data Corporation (IDC) said.
Organisations across multiple verticals have been leveraging AI, driven by their own needs, but all of them are considering intelligent systems to either reduce effort on mundane tasks or establish specialized real-time insights for faster decision making, IDC said in a report titled “If You Think Artificial Intelligence Is Not for You, You May Just Want to Reconsider”.
This adoption has been varied across industries but has remained steady. Healthcare institutions and hospitals are deploying AI for clinical imaging and point-of-care applications.
The banking, financial services and insurance (BFSI) vertical is exploring multiple use cases, varying from chatbots and conversational AI platforms to fraud detection in claims and insurance. As other sectors explore AI, the public sector is almost initiating a similar arc of adoption, IDC said.
“AI is not new. Over the years, it has progressed with organisations in India now exploring numerous use cases to realise its potential. Organisations are leveraging AI to enhance efficiency, improve productivity, and drive newer sources of revenue,” Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India, said in a statement.
“Hence, it is interesting to witness how these use cases vary from predominant verticals to the emerging ones,” Sharma said.
The report, which talks about the reasons for organisations in India to consider AI and the hurdles they are facing in the market, leverages the data from IDC’s conversations with the end-customers along with IDC’s Cognitive AI Adoption Survey, 2019, that involved talking to over 100 leaders in India.
“Traditionally, AI has been on the wish list of organisations and had not moved to the mainstream in terms of IT investments,” said Sharath Srinivasamurthy, Research Director, Enterprise Solutions & ICT Practices, IDC India.
“However, with increasing examples of real-life use cases being effectively handled by AI, organizations are looking at increasing their investments on AI to drive business outcomes,” Srinivasamurthy said.