Report: State Of Artificial Intelligence In India 2021 — By AIM & TAPMI

Report: State Of Artificial Intelligence In India 2021 — By AIM & TAPMI
Artificial Intelligence or AI is a field of Data Science that trains machines to learn from inputs, adjust to inputted fields and criteria, and perform tasks of computational logic that match certain human cognitive levels. Over the last few years, AI has emerged as a primary data science function – by utilising advanced algorithms and ever-increasing computing power. AI is transforming business domains and organisations as AI algorithms are now designed to make real-time decisions and interpret various types of data and media. Analytics India Magazine (AIM), in association with TAPMI, has developed this study on the Artificial Intelligence market to understand the developments of the AI market in India, covering the market in terms of Industry and Company Type. Moreover, the study delves into the market size of the different categories of AI and Analytics start-ups/boutique firms. To know more about our research services, visit AIMResearch. Read “State of AI” reports from previous years at the links below: 2020 | 2019 Section 1: Overview of the Artificial Intelligence Market in India The Artificial Intelligence technology function is no longer an emerging technology segment – AI as a function has pervaded almost all industries and functions – from eCommerce to BFSI and from Manufacturing to Agriculture – Data Science and Deep Learning are increasingly utilised to solve complex business challenges. AI is increasingly utilised across several B2B, B2C, and, even, C2C (Consumer-to-Consumer) channels. AI is increasingly adopted across Contact Center Customer Services (RPA-driven Chat Bots), Media Delivery (ML and AI-driven Social Media, Streaming content, and eCommerce recommendations), and Intelligent Networks / Telecom Services, to name a few.AI adoption is no longer restricted to financial enterprises or large technology implementations or organizations. AI adoption in increasingly becoming democratized with personnel from non-technological backgrounds adopting AI processes in their functional roles.Machine Learning and AI technologies are central to the functioning of Smartphones, Smart TVs, Household Appliances, and Automobiles. As revealed in the AI and Analytics start-up investment study for 2020 – 2021, the Data Science space in India, specifically the AI function, is evolving into an innovative enterprise segment. MNC Technology, Domestic, Advanced Engineering, Healthcare, and Semiconductor firms, to name a few, are now developing advanced Artificial Intelligence capabilities in India and providing top-notch AI services to firms across various industries and geographies – they are being rewarded with substantial investments by foreign and domestic funds. Key Highlights The Indian Artificial Intelligence market is valued at $7.8 Bn as of July – August 2021. This represents a 22% increase in size of market over 2020.After the adoption of AI services in 2020 to ensure contactless payments and virtual banking services, the BFSI sector’s contribution to the AI industry has remained more or less constant.The market size covers revenues from all AI operations originating from India regardless of stakeholder or client type, type of firm providing AI services, and geography of client.The AI market share and size in relation to the Types of Companies is the highest across the broad MNC IT / […]
Premium, subscribers-only content.

Support independent technology journalism

Get exclusive, premium content, ads-free experience & more

Rs. 299/month

Subscribe now for a 7-day free trial

More Great AIM Stories

Kashyap Raibagi
Kashyap currently works as a Tech Journalist at Analytics India Magazine (AIM). Reach out at kashyap.raibagi@analyticsindiamag.com

AIM Upcoming Events

Early Bird Passes expire on 3rd Feb

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

3 Ways to Join our Community

Telegram group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our Daily newsletter

Get our daily awesome stories & videos in your inbox
AIM TOP STORIES