Where India Stands in World’s AI Landscape

India did not develop computers, calculators or internet, but it emerged as the largest user of all the technologies. Advancements in the world of artificial intelligence are making countries to make their position on the global stage. While countries like the US and China dominate most in the research, patents and investments, India is emerging as a dark horse in the AI race. The adoption rate is highest among all countries that will boost the investment worldwide. Let us see how India is coming up in the global AI landscape across nine key parameters.

This infographic will tell the summary of all 9 parameters.

1. AI Market Size

The global AI market is booming, with a staggering value of $196.63 billion in 2023. India, while still a smaller player, is making waves with its $4.1 billion market. Sure, it is a drop in the ocean compared to the global figure, but it’s projected to reach at $17 billion by 2027.

Sources:

1. Artificial Intelligence Market Size, Share, Growth Report 2030 (grandviewresearch.com)
2. https://economictimes.indiatimes.com/tech/technology/indias-ai-market-projected-to-reach-17-billion-by-2027-report/articleshow/107856845.cms?from=mdr

2. Investing in the Future: AI Private Investment

When it comes to private investment, the global AI pot is overflowing with $85.36 billion. The US is leading the charge, pouring in a whopping $59.78 billion. China’s trying to catch US, with $6.9 billion.

In 2023, the investment in artificial intelligence (AI) in India reached 1.4 billion US dollars. It made India one of the top 10 leading countries in terms of AI investment, behind South Korea and ahead of Singapore, during the same period.

Source:

1. Annual private investment in artificial intelligence (ourworldindata.org)
2. India: AI investment 2023 | Statista

3. Brainpower: AI Research

US and China’s contributions to AI research stands at 30.4 per cent and 22.8 per cent respectively as per the study. The study says that India needs to grow AI research by at least 40 per cent a year to get a 5 per cent global share in five years and create a world-class innovation ecosystem.

India ranks 14th in the world with a mere 1.4 per cent share of paper contribution in the top 10 AI research conferences spanning a period of five years from 2018-2023.

Source: India Ranks 14th in the world in AI Research Contribution : Study (outlookbusiness.com)

4. AI Patents

When it comes to patents, China’s playing chess while everyone else is playing checkers. They’ve racked up an impressive 38,210 patents. The US is in second place with 6,276, followed by South Korea (4,155) and Japan (3,409). India’s holding its own with 1,350 patents.

Source:

Patent Landscape Report: Generative Artificial Intelligence. (wipo.int)

5. Brain Drain or Brain Gain? AI Talent

In the talent department, it’s another US-China showdown. US is top originator of AI researchers with 28% of the world’s talent followed by China with 26%. India stands with 7% of the world’s AI researchers.

But if you see, world’s 57% AI talent work in US followed by China with 12%. India is not even in the league. But the situation is improving, in 2019, nearly all Indian AI researchers (based on undergraduate degrees) opted to pursue opportunities abroad. But in 2022, one-fifth of Indian AI researchers ended up staying to work in India.

6. Putting AI to Work: Business Adoption

Here’s where things get interesting. While the global average for AI business adoption sits at 49%, India is leapfrogging ahead with a 70% adoption rate. Talk about punching above your weight! Indian businesses are clearly seeing the potential of AI and aren’t afraid to embrace it.

Source: India ranks highest for global implementation of AI projects: Report – Times of India (indiatimes.com)

7. Government Buy-In: AI Strategies

As of 2023, 60 countries have jumped on the AI bandwagon with national strategies. India’s not late to this party – it launched its National AI Strategy initiative back in 2018.

8. AI Ethics and Regulation

While the EU and many countries are still mulling over proposed AI Acts, India’s already taken a step forward. In 2021, NITI Aayog released the ‘Responsible AI Guidelines’. It’s like India’s saying, “We’re not just here to play, we’re here to play fair.”

9. Starting Up: AI Entrepreneurship

The startup scene tells an interesting story. The US is leagues ahead with 5,509 AI startups, followed by China with 1,446 and the UK with 727. India’s 338 might seem modest in comparison, but remember – quality over quantity. Plus, with India’s knack for “jugaad” (frugal innovation), who knows what game-changing ideas are brewing in these startups?

In conclusion, while India might not be leading the global AI race (yet), it’s certainly not sitting on the sidelines. With its high business adoption rate, forward-thinking regulations, and growing startup scene, India is positioning itself as a unique player in the global AI landscape. It’s not about competing on every front, but about playing to your strengths and carving out your niche. And in that game, India seems to be playing its cards just right.