Artificial Intelligence (AI) is reshaping economies worldwide, with India emerging as a key player alongside major global advancements.
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Artificial Intelligence Market: India & Global Overview
AI in India
India’s AI market is growing rapidly, leveraging its $250 billion IT industry and a skilled workforce of nearly 5 million programmers. The market is projected to reach $17 billion by 2027, supported by initiatives like the $1.25 billion “IndiaAI Mission”, which aims to develop computing infrastructure and AI startups. AI is driving innovation across sectors like healthcare, agriculture, and finance.
➤ Healthcare Growth: AI investments are increasing, with notable entries like Andrew Ng’s AI Fund investing in Jivi, an AI-driven healthcare startup.
➤ Government Push: The “IndiaAI Mission” is fostering domestic AI development and infrastructure.
Global AI Market
The global AI industry is seeing record-breaking investments. Tech giants like Meta, Amazon, Microsoft, and Alphabet have collectively announced $340 billion in AI funding, reinforcing AI’s transformative power.
➤ Economic Impact: AI is projected to contribute $19.9 trillion to the global economy by 2030 through direct and indirect revenues.
➤ Data Center Growth: The AI-driven data center market could grow 40%-55% annually, reaching $1.4 trillion by 2027.
➤ Investment Risks: Analysts warn that an AI investment bubble could lead to economic downturns, similar to past tech booms.