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Study Says AI will Double Innovation Rate in India by 2021

Artificial intelligence is expected to double the rate of innovation and productivity of employees in India by 2021, a new Microsoft-IDC study said on Monday. While only one-third of India’s organizations have embarked on their AI journeys, those companies that have adopted this technology expect it to increase their competitiveness by 2.3 times in 2021, as per the study that surveyed the country’s 200 business leaders and 202 workers.

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“Economies and companies that have yet to embark on their AI journey run a real risk of missing out on the competitive advantages that leaders enjoy,” said Rohini Srivathsa, Microsoft India’s National Technology Officer.

India needs to build on its investment, data, and strategy to accelerate its AI journey, according to the findings. The study also highlighted the need for cultural changes and skills and workforce re-skilling to make AI work for the country.

Microsoft also announced on Monday the rollout of the “Week of AI,” a specially curated five-day workshop series, to help developers and organizations build expertise in cloud computing, data sciences, AI and the Internet of Things (IoT).  Data scientists and AI experts from companies such as Flipkart, Reliance Jio and InMobi, who lead the way in transforming their businesses and industry with technology, Microsoft said, will address the session. Microsoft announced the launch of its AI Business School earlier this year to meet the AI skills required by business leaders.

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