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India can do with AI what China did to manufacturing; Ola CEO Bhavish Aggarwal
Industry News- Jul 15,24
According to the latest IDC report, spending on AI and generative AI (GenAI) in India is projected to reach $6 billion by 2027, growing at a compound annual growth rate (CAGR) of 33.7%.
Ola Founder and CEO Bhavish Aggarwal says that India, with its exceptional talent pool, has the potential to become a global leader in artificial intelligence (AI), similar to China's dominance in manufacturing.
In a post on social media platform X, Aggarwal emphasised that this transformation won't happen "automatically unless we make it happen."
India boasts the largest number of developers globally, the highest number of silicon designers, the most extensive amount of data, and the largest IT services industry in the world, noted the CEO of Ola Electric.
Aggarwal highlighted India's strategic move towards AI leadership, pointing out that the India AI Mission has been approved with an outlay of Rs 103.72 billion. Of this, Rs 20 billion is allocated to support the Indian startup ecosystem in developing indigenous AI-based solutions.
According to the latest IDC report, spending on AI and generative AI (GenAI) in India is projected to reach $6 billion by 2027, growing at a compound annual growth rate (CAGR) of 33.7%.
(Source: IANS & Free Press)
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