India's AI market is likely to triple and reach USD 17 billion by 2027: BCG Report
New Delhi [India], June 11 (ANI): India's Artificial Intelligence (AI) market is set to triple to USD 17 billion by 2027 and is rapidly moving beyond experimental phases to become a core driver of competition and scale for Indian businesses says a report by Boston Consulting Group (BCG).The report highlights how AI is not only boosting operational efficiency but also expanding markets, accelerating decision-making, and fostering innovation-led growth.'AI is no longer an option but a business necessity. Indian companies are using it to leapfrog traditional growth curves and compete confidently on the global stage. While the hurdle rate for successful deployment is high, the rewards are even higher, and the results speak for themselves,' said Mandeep Kohli, Managing Director and Partner, BCG India.BCG's report reveals that India currently boasts over 600,000 AI professionals, a number projected to double to 1.25 million. This talent pool represents 16 per cent of the global AI talent, second only to the United States.Furthermore, India's public digital infrastructure, including Aadhaar, UPI, and ONDC, combined with increasing enterprise investment, has created a fertile environment for scalable AI innovation. Key enablers include data scale with over 700 million internet users, infrastructure growth, and a surge of approximately 2,000 AI startups launched in the past three years.The BCG report showcases how AI is delivering measurable impact through the examples of four market leaders: Razorpay (Fintech), Lenskart (Consumer), Pocket FM (Media & Entertainment), and NoBroker (PropTech). These companies are leveraging AI to streamline operations, personalise user experiences, and unlock new revenue streams. For instance, Razorpay's AI assistants help merchants throughout the onboarding process, including prefilling and validating. Lenskart uses AI-powered virtual try-ons and face-mapping to deliver a hyper-personalised experience. Pocket FM cut content production costs by up to 90 per cent and produced over 100,000 hours of content with AI. NoBroker leverages AI to accelerate the property listing process with image verification through Iris. These case studies demonstrate how Indian innovators are moving beyond pilot programs to scale AI, transforming their industries with data-driven speed, precision, and growth.For companies looking to scale AI, the report outlines a clear roadmap. BCG's 70/20/10 Framework emphasises that 70 per cent of success stems from people, organisation, and process, rather than solely technology. Additionally, five key enablers for scaling AI include cross-functional ways of working, a modern tech stack, organisational models (such as AI Centres of Excellence), workforce reskilling, and responsible AI governance. Behavioural adoption is also crucial, with tailored learning paths, emotional curve mapping, and role-specific interventions to nudge users through GenAI adoption. (ANI)
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