Artificial Intelligence has got a bright and promising future in India. AI has the possibility to add $957 billion or 15% of the present gross value – to the Indian economy by 2035. AI can provide large incremental value to sectors, for example, energy, retail, manufacturing, healthcare, education, and agriculture. That will also mean the opportunity for jobs in all these sectors, each for AI experts and others.
Indian IT companies and tech startups must initially update technologies and build up AI abilities at an enterprise level. Right skilling is regarded as the crucial factor for achievement in technology adoption. And provided the fast adoption of AI for industry, approximately 2 lakh jobs in the industry are expected by 2020.
In June 2018, NITI Aayog created a national approach for Artificial Intelligence in India. The report provided an introduction to the roadmap and the government’s plan to build the sector in the nation. Through sufficient implementation of the technique, Artificial Intelligence is anticipated to assist the nation to develop economically while contributing to public growth to a great extent.
“Start-ups witnessed a 108% growth in financial India in 2018.” The report also stated that Artificial Intelligence was among the domains that witnessed the fastest adoption among different industry sectors. Presently there are 400 startups working on AI and machine learning domains. About $150 million is invested in India’s AI industry by private players and the number has been increasing since 2016. Although there has been a progress, India is far behind countries like the US and China of the terminology of investment. With a large swimming pool of STEM skills and with growing youngsters, India will probably be banking on AI because of its economic development and enhancement in the quality of living of its people.
There are many startups that are established in cities like Bengaluru, New Delhi, Hyderabad and Mumbai which work on artificial intelligence concepts to deliver customers better. Their product range differs from multilingual chatbots to online shopping assistance and automated customer data evaluation. The businesses have been working in regions like e-commerce, ed-tech, healthcare, fintech, etc. Although in their nascent point, the overall performance of these companies has been promising.
Modern AI technologies had been used to perform colorization (a procedure in which a white and black video/image is changed into color video/image), image super-resolution (a method where a small-sized picture could be scaled to 8-16 times the first resolution) and face 3D reconstruction (via fragments of few pixels on the faces caught wearing frames that are different from the first video). 150 teraBytes of automobile traffic video clips have been scanned by AI to locate a certain vehicle. This was sufficient to track a summary of suspects and catch them in a month.
This all happened in India. We worked night and day on this project, and we knew that we are going to get some outcomes, however, when we did, it sent a chilling trend down the spines, revealing to us which AI will creep directly into the daily lives and we would not know about it.
India currently is in an extremely ineffective state, and also for the following 10 years or perhaps so, AI will aid us to get effective. AI hasn’t arrived at a level where it is able to change the convenience of human existence, and Indians need human touch in every aspect. Then again, there’s this thing known as, “Constant Change”.
The National Strategy for Artificial Intelligence that was put together by the government of India by NITI Aayog, sets the roadmap on how you can develop AI in the nation. The article points out just how AI will assist the nation growth, what are the strengths and what are the challenges in the future. The government has determined very few places in which it thinks AI will perform an important role so far as India is concerned.
While our universities and premier technology institutes are carrying out research in AI, tech startups and enterprises are taking the analysis further and creating jobs to think of innovative ways and goods based upon AI. Today, India is a house to 7,700 tech startups. During the previous 5 years, over 400 AI application product startups have been integrated in India. This demonstrates how Indian tech startups are centered on AI product development.
In the near future, you are going to see smart cities adopting AI to handle traffic, identify traffic violations, deal with the cleanliness or maybe health of roads, track blacklisted folks and do behavioral biometry. To foresee much more use cases, simply read through the tenders already out inviting state-of-art businesses to exhibit the competition and the feasibility is currently fierce.
But India needs AI talent. The majority of the vendors in that domain are western, have a decade+ experience and also have deeper pockets. Unfortunately, AI is not really a domain that could be mastered without solid basics in Mathematics and core Programming. Students also require access to high-performance computers to have the ability to instruct, check and deploy their AI models. In case you take a look at the classes taught even in the best colleges, you are going to realize they’re far more when compared to a decade old, along with almost all the existing AI/ML development has occurred after 2012.
In the last decade, the mobile phone has come to determine the digital experience for new customers. That could be changing. Many voice artificial intelligence (AI) startups want to create these sorts of “post-mobile” happenings a reality for their clients worldwide and in India. With more than 1,038 AI startups in India, working on numerous aspects of AI, speech and context recognition is fast turning into an exciting new frontier for technology. The potential future of speech AI appears promising, with adoption slated to improve as voice-enabled devices embed themselves in the lives in areas likewise connected houses, course-plotting, sensible offices, and customer support centers. Globally 50% of queries are expected to be voice-based by 2020, with a substantial selection of them driven through voice-enabled products as smartphones with smart speakers.
The Role of Artificial Intelligence in a few major industries in India.
1. Artificial Intelligence in the Health-Care Industry:
India is a vast country and primary healthcare facilities haven’t adequately reached all nooks and corners of it. With lagging infrastructure and fewer doctors per thousand citizens, it’s challenging for the government to promise quality healthcare to its people. Artificial Intelligence is anticipated to help India to a great level in providing much better healthcare in the future. With efficient use of algorithms and data, AI could assist in detecting fatal diseases like cancer ensure preventive therapy rather than reactive care. The government is going to work towards addressing difficulties such as affordability and accessibility with the tool of AI. On the other hand tech giants like Microsoft are joining hands with both startups and reputed health care organizations to provide AI-based items like the 3Nethra which can check and detect eye issues. Such associations are able to improve the efficiency of healthcare services. You can read our blog wherein we have accumulated the Top 20 Start-ups in India revolutionizing Health-Care Industry with Artificial Intelligence.
2. Artificial Intelligence in Education:
Capital and qualified manpower are the 2 main pillars that are necessary for the establishment and development of any industry. India is home to a significant skill pool of Science, Technology, Math and Engineering graduates. Vendors like Google, Microsoft and Intel have been to offer short term education plans to computer program developers which assist them up-skill in the area of AI programming. On the various other hand AICTE, the government body that governs and adjusts specialized training in India, just recently included AI, IoT, Machine Learning along with a couple of other subjects as mandatory topics inside its curriculum of B.Tech applications. Changes in curriculum and content are more anticipated in the near future to come. You can read our blog wherein we have reached the Top 5 Ed-tech platforms in India.
3. Artificial Intelligence in Smart Infrastructure and Mobility
The increasing migration of the population towards the cities has presented a great challenge to India. The cities’ civic systems have been fighting to offer quality infrastructure and bring down commuter routes woes in India’s large metropolis. AI could take about a significant change in urban areas of the future. with the ripe database and required uses in place, the concepts of AI could help reduce congestion on highways, tool civic systems in dealing with citizen grievances, appropriate repair, and upkeep of the public property, therefore improving the quality of living of city dwellers.
How good Artificial Intelligence is at making money? On the bases of some AI-driven strategies, it doesn’t seem like the robots will take over humans anytime soon.
In August 2018, a quantitative staff at Aberdeen Standard Investments began a $10 million Artificial Intelligence Global Equity Fund, betting that an algorithm could be better at figuring out the complex world of a factor than a human manager. A year later, the fund had underperformed the broader inventory market ‘s impressive rally, and the assets had grown only 8%. Investors claim they stop committing cash until they see a longer track record.
The recent years have viewed unprecedented enormous amounts of financial backing poured by venture capitalists into the cybersecurity companies. And this’s all befalling because of the fast development in the cyber risk landscape without any sign of slackening. Cybersecurity today has moved to the top part of every CISO’s and CEO’s priority list as online hackers control devices to propagate their wrong intentions.
AI has already arrived, and it’ll just be efficient as the time comes. In the long term, if we talk about the future of artificial intelligence or AI, situations are not well for India unless we’re leading this development. We’ve by now lost the Industrial Revolution, the semiconductor racing, the operating system domination, after which the mobile revolution. When we are going to sleep tonight, 3 new revolutions will get the next steps, Quantum computers, Autonomous Electric Vehicles, and Artificial Intelligence. AI ties in the other 2 fields already. But as a nation which promises to be a future superpower, we’re far too behind in all of these.