According to a report by the Internet and Mobile Association of India (IAMAI) and PwC, the Covid-19 pandemic has brought automation technology to the forefront in India. The report states that the intelligent automation (IA) market in India is estimated to grow at a compound annual growth rate (CAGR) of 55 per cent, with large enterprises expected to spend nearly $340-350 million in IA capabilities in 2024. The overall expenditure is expected to exceed this figure since the market now also includes start-ups and various small and medium enterprises (SMEs).
As per the report, the COVID-19 pandemic has brought about unprecedented changes in how organisations function. It is the need of the hour for organisations across the world to re-engineer the ways of doing business. Organisations need to transform themselves into modern workplaces that enable the synergy between their human and machine workforce, with the former assuming responsibilities for strategic and customer-centric initiatives and the latter executing repetitive activities, the report stated.
Artificial intelligence (AI) is expected to increase economic growth exponentially over the next few decades. Sixty-four per cent of Indian organisations expect to increase demand for cloud computing as a result of Covid-19 alone, the report said.
