Spending on artificial intelligence (AI) in India will increase at 35 per cent year-on-year, reaching $9.2 billion in 2028, a report indicated on Tuesday.
This highlights that improving data quality, governance, and cloud migration is required to leverage AI to its maximum potential, the report by Qlik stated while publishing a new white paper by International Data Corporation (IDC).
Approximately 51 per cent of Indian businesses have AI solutions in the cloud, yet data quality is a problem.
The report pointed to data quality as a significant inhibitor, with 54 per cent of Indian organisations naming it as an inhibitor, ahead of Australia at 40 per cent, ASEAN at 40 per cent, and the APAC average of 50.4 per cent.
Additionally, 62 per cent of Indian organisations recognised the need to improve data governance and privacy policies, while 28 per cent struggled with AI data bias, more than ASEAN at 21.8 per cent and Australia at 20 per cent, the report mentioned.
To combat these challenges, Indian businesses are investing in data integration, ML deployment platforms, and analytics to build AI-ready data strategies. Ensuring data integrity, transparency, and compliance is the essence of successful AI adoption.
"Indian organisations perceive cloud adoption as a vital move towards AI success," said Varun Babbar, Vice President, India, Qlik.
"To drive AI-driven innovation at scale, businesses require a solid, scalable data infrastructure that enables high-performance AI applications," he added.
The 'IDC InfoBrief' report revealed that 36 per cent of enterprises were already adopting GenAI, while 46 per cent indicated investment plans over the next 12-24 months.
India is comparable with Australia and New Zealand, as 20 per cent of organisations in these nations have advanced AI capabilities, while it trails behind ASEAN where 27 per cent have already achieved this.
GenAI is revolutionizing businesses in India — from regulatory in retail to fraud detection in financial services and predictive maintenance in manufacturing," stated Deepika Giri, AVP, Big Data Analytics, Blockchain, and Web3 Research, IDC Asia/Pacific.
Nonetheless, for it to be unleashed to its maximum potential, organisations need to put in place trusted data, sound governance, and infrastructure readiness to scale AI efficiently and responsibly, she added.
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