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AI spending in India may triple to $5 billion by 2027: report

Economic Times · 1y

According to a report by Intel and IDC, spending on Artificial Intelligence (AI) in India is projected to triple to $5 billion by 2027. The report reveals that AI spending in India reached $1,703.8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 31.5% between 2023 and 2027. The major contributors to AI spending in 2023 were AI infrastructure provisioning, augmented customer service agents, digital assistance, augmented threat intelligence, and program advisors recommendation systems. The report suggests that AI will have a significant presence in various sectors by 2027.