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BENGALURU, Nov. 13, 2019 /PRNewswire/ -- Artificial intelligence (AI) is no longer just a buzzword of tomorrow, and the enterprise landscape of AI has never looked more promising. A recent study titled 'State of Enterprise AI in India 2019', published by Analytics India Magazine in association with BRIDGEi2i, covers the in-depth aspects of this vibrant sector.
The study suggests that the enterprise AI market is heading towards much wider adoption in India. The study associates the Indian Enterprise Market for AI to be at $100 million, growing at 200-250% CAGR. By 2022, the global business value created by AI will touch a whopping $3.9 trillion, and spending on AI systems is expected to reach $79.2 billion.
The study also reports that AI technologies will pervade every software product next year, and AI software revenue is expected to grow to $118.6 billion by 2025. In India, the enterprise AI market is heading towards much wider adoption. The study associates the Indian Enterprise Market for AI to be estimated to be $100 million, growing at 200-250% CAGR, suggests the report.
C-suite executives have gone beyond committing 'digital experimentation' to hardcore digital transformation. This has led to a surge in demand for enterprise-ready AI services, applications, and tools across organizations.
The study also covers in-depth analysis of the market size, investments, adoption by various industries such as healthcare, finance, CPG and more, and partnership ecosystem. It also covers various aspects of business models such as niche players, captives, large consultancies, etc.
The report looks at the scale of opportunity in AI for large-scale organizations that are driving the AI ecosystem in India and how the C-suite can take advantage of PoCs that can deliver the best ROI.
Bhasker Gupta, Founder & CEO, Analytics India Magazine said, "There has been tremendous growth in the AI industry in the last few years with several large scale advancements. AI has transformed everything from customer experience to automating businesses and broadening product offerings. This study aims to give an insight into how users are adopting AI technologies and the current state of the changing AI industry."
The report answers questions around how AI/ML is finally getting real for enterprises, high-value use cases enterprises can get started with, how to measure tangible results of AI deployment, India's contribution to the Global AI industries and more.
BRIDGEi2i Analytics Solutions CEO, Prithvijit Roy remarks, "There is a huge shift in the way enterprises are interacting with the AI Landscape and the demand for AI solutions are burgeoning by the day. I think this report is a consolidated attempt to encapsulate everything AI in the Indian context; industries, core business objectives that rely on AI as a service with custom-ready solutions and how mid-size AI service providers like us are now well-positioned to deliver values to Enterprises globally."
Some of the key takeaways from the reports are for C-suite executives to gain an overview of Enterprise AI landscape, an overview of AI service delivery models, why AI-as-a-service economy will drive the market forward, top use cases with high re-usability and ROI.
Read the complete study here;
Part I: https://analyticsindiamag.com/state-of-enterprise-ai-in-india-2019-analytics-india-magazine-bridgei2i/
Part II: https://analyticsindiamag.com/state-of-enterprise-ai-in-india-2019-aim-bridgei2i-part-ii/
Part III: https://analyticsindiamag.com/state-of-enterprise-ai-in-india-2019-by-aim-bridgei2i-part-iii/
About Analytics India Magazine (AIM):
AIM is India's no.1 platform on analytics, data science and big data, dedicated to passionately championing and promoting the ecosystem in India. It was started in May 2012 with a vision to create a hub for thousands of analytics professionals across India. AIM is the pre-eminent source of news, information and analysis for the Indian analytics ecosystem, covering news, thought articles, research works and case studies. The website was established with the aim to evangelize analytics in India through healthy discussion and idea dissemination on next-gen analytics within India. Visit AIM at www.analyticindiamag.com.
BRIDGEi2i is a trusted partner for enabling AI for Digital Enterprises by leveraging Data Engineering, Advanced Analytics, proprietary AI accelerators, and Consulting expertise across pan-enterprise processes to create sustainable business impact. The company obsesses over adding 'Value to Customer' and solving complex business problems by deploying contextual solutions powered by our proprietary AI accelerators to drive wider consumption of insights, and faster and more accurate decision-making across the board. Visit BRIDGEi2i at www.bridgei2i.com.