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Assessment of Artificial Intelligence Market in India—Key Industrial Applications and Insights, 2018

Assessment of Artificial Intelligence Market in India—Key Industrial Applications and Insights, 2018

Artificial Intelligence is Reshaping the Indian Industry Landscape, and Business Leaders Look to Capitalize on Strategic and Economic Benefits of AI Applications

RELEASE DATE
27-Feb-2019
REGION
South Asia, Middle East & North Africa
Research Code: P98B-01-00-00-00
SKU: IT03811-SA-MR_22893
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Description

Artificial Intelligence (AI) allows computer and computer-enabled systems to transcend beyond traditional computing and provides a layer of intelligence through algorithms that enable machines to complete tasks and produce results that are analogous to human-like thought processes, decision making and problem solving. 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.

The last decade has seen the growth of AI from a technological luxury providing static intelligence to a strategic necessity delivering incremental intelligence through revenue generation. 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. 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 AI applications in India. While there is considerable traction in the adoption of advanced technology, the Indian market has its own challenges as compared to other developed nations. 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 the last five years, which are focused on delivering solutions that cater to industry-specific requirements and generate reliable, revenue-generating insights.


Research Highlights

The study provides an overview of the AI market in India, driving factors and challenges for AI adoption, popular AI applications that have found increasing adoption in the market, and case studies demonstrating success of AI adoption and also explores some of the key industry verticals that have either already infused or are looking to incorporate AI into their business processes along with guidance on areas of opportunity for organizations in the AI space. The study also aims to inform AI services about the potential growth opportunities for AI offerings and possible strategies to increase their footprint in the Indian market.

Author: Rakesh Thayyil

Table of Contents

Disruptive Trends for Artificial Intelligence (AI) in India

Market Overview—Definitions

Evolution of AI Systems

Transformative Landscape of AI

AI—Value Chain

Government Initiatives—Push for Adoption

Economic Impact of AI for India

Key Drivers for AI Adoption in India

Key Restraints for AI Adoption in India

Growth Opportunity 1—Acceleration of Digital Automation

Growth Opportunity 2—Autonomous Framework Approach

Growth Opportunity 3—Risk Mitigation

Strategic Imperatives for AI Service Providers

AI—Key Industry Verticals in India

AI in BFSI—Overview of Sector

BFSI—Industry Challenges and Strategic AI Use Cases

AI in BFSI—Case Studies

AI in BFSI Opportunity Attractiveness Dashboard

AI in Healthcare—Overview of Sector

HealthCare—Industry Challenges and Strategic AI Use Cases

AI in Healthcare—Case Studies

AI in Healthcare Opportunity Attractiveness Dashboard

AI in Retail—Overview of Sector

Retail—Industry Challenges and Strategic AI Use Cases

AI in Retail—Case Studies

AI in Retail Opportunity Attractiveness Dashboard

AI in Transportation & Logistics—Overview of Sector

Transportation & Logistics—Industry Challenges and Strategic AI Use Cases

AI in Transportation & Logistics—Case Studies

AI in Transportation & Logistics Opportunity Attractiveness Dashboard

AI in Manufacturing—Overview of Sector

Manufacturing—Industry Challenges and Strategic AI Use Cases

AI in Manufacturing—Case Studies

AI in Manufacturing Opportunity Attractiveness Dashboard

AI in Agriculture—Overview of Sector

Agriculture—Industry Challenges and Strategic AI Use Cases

AI in Agriculture—Case Studies

AI in Agriculture Opportunity Attractiveness Dashboard

NLP

NLP—Key Application and Use Cases

NLP—Key Application and Use Cases (continued)

Machine Learning

Machine Learning—Key Application and Use Cases

Machine Learning—Key Application and Use Cases (continued)

Machine Perception

Machine Perception—Key Application and Use Cases

Machine Perception—Key Application and Use Cases (continued)

Predictive Analytics

Predictive Analytics—Key Application and Use Cases

Predictive Analytics—Key Application and Use Cases (continued)

Key Recommendations

Legal Disclaimer

Abbreviations and Acronyms Used

List of Exhibits

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

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Artificial Intelligence (AI) allows computer and computer-enabled systems to transcend beyond traditional computing and provides a layer of intelligence through algorithms that enable machines to complete tasks and produce results that are analogous to human-like thought processes, decision making and problem solving. 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. The last decade has seen the growth of AI from a technological luxury providing static intelligence to a strategic necessity delivering incremental intelligence through revenue generation. 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. 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 AI applications in India. While there is considerable traction in the adoption of advanced technology, the Indian market has its own challenges as compared to other developed nations. 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 the last five years, which are focused on delivering solutions that cater to industry-specific requirements and generate reliable, revenue-generating insights.--BEGIN PROMO--

Research Highlights

The study provides an overview of the AI market in India, driving factors and challenges for AI adoption, popular AI applications that have found increasing adoption in the market, and case studies demonstrating success of AI adoption and also explores some of the key industry verticals that have either already infused or are looking to incorporate AI into their business processes along with guidance on areas of opportunity for organizations in the AI space. The study also aims to inform AI services about the potential growth opportunities for AI offerings and possible strategies to increase their footprint in the Indian market.

Author: Rakesh Thayyil

More Information
No Index No
Podcast No
Author Jonas Zelba
Industries Information Technology
WIP Number P98B-01-00-00-00
Is Prebook No
GPS Codes 99DB-C1,9705-C1,9A65-C1,9658,9659,9B07-C1