According to a study by nasscom, nearly 60 per cent of Indian businesses have either matured responsible artificial intelligence (RAI) practices and policies or have initiated formal steps towards the adoption of such responsible practices. About 30 per cent of the surveyed organisations reported having a basic awareness of RAI imperatives without a formal strategy or framework.
As per the report, the rising need for RAI among AI users and stakeholders is compelling industry leaders to invest in advanced RAI tools and strategies while emphasising transparency in their AI practices. As businesses scale up AI maturity, they also tend to report higher RAI maturity. It added that developers are almost two times more likely than users to report higher levels of RAI maturity.
The survey finds that large enterprises (those with annual revenue more than Rs 2.5 billion) are 2.3 times more likely than start-ups and 1.5 times more likely than small and medium enterprises (SMEs) to report matured RAI practices. Moreover, the majority of businesses across key industries are progressing to achieve satisfactory levels of RAI maturity.
Further, according to the report, around two-thirds of businesses in sectors such as banking financial services and insurance; technology, media, and telecom; and healthcare reported having either matured RAI practices or having initiated formal steps towards RAI adoption. Workforce development remains central for businesses to ensure robust RAI implementation. As per the survey findings, 89 per cent of businesses that reported matured RAI practices and policies also reported commitments to continue investments in workforce sensitisation and training for RAI compliance.
