India's AI market set to triple to $17 billion by 2027: Report
India's artificial intelligence (AI) market is expected to grow more than triple in value to $17 billion by 2027, according to a report by Boston Consulting Group (BCG).The report, titled "India's AI Leap: BCG Perspective on Emerging Challengers," indicates that the country is set to become one of the fastest-growing AI economies globally.This growth is attributed to burgeoning enterprise tech investments, a robust digital ecosystem, and a significant talent pool.advertisement
"India is no exception—businesses across sectors are rapidly embracing AI to solve local challenges, scale innovation, and drive competitive advantage. AI is significantly expanding the total addressable market (TAM) by 1.2 to 1.5 times across key Indian sectors, while delivering unmatched efficiencies and speed," the report said.The talent landscape is also projected to see remarkable advancement.Currently, India boasts over 6,00,000 AI professionals, a number expected to rise to 1.25 million by 2027. This positions India as a global leader, second only to the United States, in terms of AI talent, aided by its demographic advantage and a strong pipeline of STEM education. Additionally, public platforms like Aadhaar, UPI, and DigiLocker provide a scalable foundation for AI adoption.With extensive internet usage and smartphone penetration, India generates vast amounts of data, crucial for AI model training.advertisement"We're no longer in the realm of hype; real traction is visible, real outcomes are emerging, and serious dollars are starting to flow. AI is not a side project—it's the next growth engine," the report highlighted.AI's impact is increasingly evident across sectors such as finance, healthcare, media, retail, and real estate.Mandeep Kohli, Managing Director and Partner at BCG India, highlighted that AI has become a business necessity rather than an option."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. What separates the leaders is not just the tech, but how they manage change, build talent, and embed AI into the fabric of their organisation," Kohli said. Must Watch
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