COVID-19 left the world looking for smarter solutions, reimagining work and business operations. So it wasn’t surprising when the pandemic accelerated the adoption of new-age technologies like Artificial Intelligence (AI). During the pandemic, contactless services such as digital payments put AI-related services in sectors like e-commerce in the spotlight. AI algorithms were used to make real-time decisions and analyse data, making a huge impact on businesses. It was the hero in elevating customer experience in sectors like sales and marketing. As e-commerce boomed, AI played a critical role in logistics, supply chain and manufacturing. It also was a steady support for HR, IT and finance.
As per research firm IDC, the Indian artificial intelligence market is expected to touch $7.8 billion by 2025, growing at a compound annual growth rate of 20.2 percent. The growth of AI in India can be partly attributed to the government’s keen interest in the technology. Recently, on the occasion of the first anniversary of National Education Policy, Prime Minister Narendra Modi launched the ‘AI For All’ initiative with the purpose of making AI easy to understand for every citizen in the country.
Key AI trends
Apart from the government, India’s new-age entrepreneurs and leaders are responsible for making AI an integral part of enterprises today. As per IDC’s AI Strategies Buyerview, 2021 survey, the most preferred AI solutions are conversational AI, recommendation engines and enterprise knowledge graphs. But in the next few years, entrepreneurs want to experience other AI solutions like Natural Language Processing (NLP), computer vision, and augmented intelligence, to name a few. For example, eCommerceInsights.ai, which is a part of NetApp Excellerator cohort 9, has a deep learning NLP platform that monitors the voice of customers via unstructured product reviews and transforms them into actionable insights for brands and about their products, customers, and competitive landscape.
Various trends that could hit the sector in the next few years, IDC reports. AIOps adoption will become the new normal for IT operations by 2025, with 40 percent of large enterprises automating their operations with AIOps solutions. By 2024, 50 percent of enterprises will run varying levels of analytic and AI models at the edge and 30 percent of those edge AI applications will be accelerated by heterogeneous accelerators. AI-powered development will also rise by 2025 and the number of data analysts and scientists to adopt AutoML for the end-to-end machine learning pipeline from data preparation to model deployment will double.
By most accounts, today, data is key to succeeding. For Indian CXOs, leveraging data and analysing customer behaviour, partners and employees has become the top priority. Using data, leaders are tweaking and reimaging their strategy to serve …….
Source: https://yourstory.com/2021/11/netapp-artificial-intelligence-changing-game-indias-enterprises/amp
