AI adoption can add $90 bn to Indian economy by 2025: Report

Mumbai: Artificial Intelligence (AI) has the potential to add nearly $90 billion to the Indian economy by 2025, a new report showed on Wednesday.

During the pandemic, India has reported the highest increase in the use of AI at 45 per cent, as compared to other major economies (the US at 35 per cent, the UK at 23 per cent and Japan at 28 per cent).

“In fact, AI startups in India attracted total funding of $836.3 million in 2020. Also, despite the total number of high-value funding shrunk, the companies that received funding almost doubled in 2020 compared to 2019,” according to homegrown independent Transaction Advisory firm, RBSA Advisors.