According to a joint report by Intel-International Data Corporation (IDC), spending on artificial intelligence (AI) in India is expected to triple to $5 billion by 2027.
The report noted that entities in India spent $1,703.8 million on AI in 2023. The report further added that AI spending in India is expected to increase to $ 5 billion with the compound annual growth rate (CAGR) of 31.5 per cent between 2023 to 2027.
As per the report, in 2023, major spending of $209 million was driven by AI infrastructure provisioning and related software. It was followed by spendings by augmented customer service agents of $168.8 million, digital assistance of $113.1 million, augmented threat intelligence of $100.1 million and programme advisors’ recommendation systems of $97.1 million.
