The world is in a state of confusion regarding Artificial Intelligence (AI). Due to this, there is a danger of losing millions of jobs around the world. But this AI can become a great future force for India. The adoption of AI can increase the country’s real GDP (gross domestic product) growth rate by 1.4 percent annually.
This has been estimated in a study by Indian Institute of Management- Ahmedabad (IIM-A) and Boston Consulting Group (BCG). Bharat Bhaskar, director of the Institute of Management, released a joint study report on the IIM-A campus on Wednesday. The report titled ‘AI in India – A Strategic Necessity’ states that artificial intelligence will have a transformative impact on economies, societies and civilisations. In India alone, successful adoption of AI could add 1.4 percent to GDP growth annually.
According to the report, successful adoption of AI is expected to add Rs 1,500 to 2,500 billion in incremental pre-tax profit over a period of five years for the top 500 Indian companies alone. The report states that the adoption of AI will require massive training.
It is estimated that only the top 500 Indian companies will require at least one million hours of training. The report says that India has only 4.5 percent of the world’s AI professionals. In such a situation, the talent shortage can be more serious.
Wipro to spend $1 billion on AI training for employees
Wipro on Wednesday announced spending $1 billion to train all its 2.5 lakh employees in artificial intelligence (AI) and adopt the technology across product offerings. Wipro said in a statement that a part of this amount will be spent over the next three years to adopt this technology across all internal operations and solutions offered to customers by bringing together 30,000 employees of cloud, data analytics, consulting and engineering teams. will be spent on
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