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India is a Leader in AI Adoption with 30%, Exceeding the Global Average of 26%

By Consultants Review Team Tuesday, 12 November 2024

According to a research, India leads in Artificial Intelligence (AI) adoption, with 30% of its enterprises maximizing AI's value potential, exceeding the global average of 26%.According to a Boston Consulting Group (BCG) analysis, Indian organizations prioritize fewer, high-impact AI initiatives, which are scaled 1.7 times more effectively than others. When compared to their global peers, these companies produced an impressive 2.1x Return on Investment (ROI).

India stands out for its readiness to harness AI's potential, according to a report based on a comprehensive poll of 1,000 CxOs and senior executives from over 20 sectors, covering 59 countries in Asia, Europe, and North America and encompassing ten key sectors.

According to the survey, despite the broad implementation of AI projects across industries, only 26% of firms globally have achieved the requisite set of competencies to progress beyond proofs of concept and deliver actual value.

"India's rapid adoption of AI is redefining its competitive edge globally, with 30% of Indian companies maximizing AI's value potential, exceeding the global average of 26%," said Saibal Chakraborty, India Leader, Technology and Digital Advantage Practice, BCG.

Chakraborty stated that the "maturity of India's AI leaders spans both traditional and digital sectors". This implies "a broad-based adoption that drives value beyond typical tech-driven industries" .

"As India's AI leaders go beyond productivity to reshape and invent new business models, India is poised to lead not only in AI adoption but in generating substantial, and measurable value," according to Chakraborty.

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According to the survey, only 4% of firms have created cutting-edge AI capabilities across many domains that consistently generate considerable value. Approximately 22% of companies have established an AI strategy, developed advanced capabilities, and are beginning to see significant returns. However, 74% of organizations have yet to demonstrate meaningful value from their usage of AI.

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