New Delhi

Artificial Intelligence is shaping the world like never before. No country has been untouched by the rising tide of AI across industries. India is no exception to this trend.

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Recent data from tech staffing service Teamlease Digital reveals startling facts about India's tryst with AI.

Here are five key takeaways:

1) The AI adoption rate in India stands at nearly 48 per cent. AI adoption is expected to grow by an additional 5 to 7 per cent in the ongoing financial year, which began on April 1. Nearly 75 per cent of Indian companies are actively looking to integrate AI into their business operations over the next year.

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2) The AI adoption rate is not uniform across industries. The banking, finance and insurance (BFSI) sector has a 68 per cent adoption rate, while the figure stands at 60-65 per cent for the tech industry. Apart from them, only the pharmaceutical & healthcare sector has an adoption rate of over 50 per cent.

3) Manufacturing (28 per cent), infra & transport (20-22 per cent), and media & entertainment sectors have lagged behind in adopting the technology. In fact, the AI adoption rate in the media and entertainment industry stands at just 12 per cent.

4) Currently, AI is a $6.1 billion market in India. Tech service providers comprise 60 per cent of the AI market share, while Global Capacity Centres and tech-enabled service providers make up eight and seven per cent of the market respectively. AI is expected to be a $20 billion market by 2028, growing with a CAGR of over 26 per cent over the next four years.

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5) AI growth in India faces a big roadblock -- the lack of qualified AI professionals. As per the data, the demand-supply gap in AI talent stands at 51 per cent. "There is an urgent need for skilled AI professionals to meet the growing demands of organisations integrating AI into their operations," Krishna Vij, Business Head of TeamLease Digital, tells WION.