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Generative AI can add cumulative $1.2-1.5 trillion to India's GDP by FY30: EY

Economic TimesEconomic Times · 9m
Generative AI can add cumulative $1.2-1.5 trillion to India's GDP by FY30: EY

According to a report by EY India, generative artificial intelligence (Gen AI) has the potential to contribute around $1.2-1.5 trillion to India's GDP over the next seven years. The report suggests that by fully capitalizing on Gen AI technology, India could add $359-438 billion to its GDP in FY2029-30 alone. Sectors such as business services, financial services, education, retail, and healthcare are expected to benefit the most from Gen AI's impact, leading to improved productivity, operational efficiency, and personalized customer engagement. However, the report highlights the challenges of skills-gap and unclear use cases that organizations currently face in harnessing the benefits of Gen AI.

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