AI spending in India to reach $5 billion by 2027: Intel-IDC study

Spending on artificial intelligence (AI) in India is expected to grow at a compound annual growth rate of 31.5 per cent from 2023 and might reach $5.1 billion by 2027, according to a joint study released on Tuesday by Intel and International Data Corporation (IDC).

The growth in AI spending is set to be the fastest among the eight markets surveyed, including Australia, India, Indonesia, Japan, South Korea, Malaysia, Singapore, and Taiwan.

The AI software sector is projected to be the primary driver of overall market growth, reaching $2.6 billion by 2027, the study revealed.