The Indian artificial intelligence (AI) market is poised for exponential growth, projected to surpass $ 5.9 billion by 2027, driven by a robust compound annual growth rate (CAGR) of 33.7 per cent over five years.
The report mentioned that generative AI (GenAI) solutions market is experiencing a surge, presenting numerous opportunities for vendors, particularly in productivity-related use cases such as report summarisation, job description generation, and code creation. The market is expected to evolve, initially focusing on business function use cases, where AI models are integrated with enterprise data for specific functions like marketing, sales, service, and procurement. Eventually, enterprises will leverage GenAI for industry-specific use cases that require extensive customisation to address unique industry processes or activities.
