According to a study by the Fletcher School of Tufts University, India ranks 15th among the top 25 nations in the race for artificial intelligence. The US-based business school's Top Ranking AI Nations (TRAIN) scorecard mapped the emerging geography of AI leadership across four key drivers: data, rules, capital and innovation.
India ranked 14th among the top 25 nations in terms of data volume and complexity of core resources used to train and improve algorithms.
In terms of rules governing new and emerging technologies, India ranked lowest in the list of 25 nations, ahead only of China. The TRAIN scorecard ranked countries based on their involvement in open data, data governance policies and cross-border data flows.
In terms of human, financial, diverse and digital foundations for building AI, India ranked 6th behind the US, China, Japan, South Korea and Germany.
Also Read: Gen AI can contribute $1.2-1.5 trillion to India's GDP by FY30: EY India report
Innovation in AI models, techniques, creative data sourcing and new applications is a category in which India ranked third behind the US and China.
When the results of all four riders were combined equally into a final TRAIN result, the country ranked 15th out of 25 nations that led the AI race with 46.7 points. Countries such as the US, China and the UK topped the list with a cumulative TRAIN score of 90.7, 68.5 and 58.8 respectively.
Japan (57), Germany (56.4), France (54.9), Canada (54.9), Australia (53.9), South Korea (53.8) and Sweden (51.5) were other countries below the top 10.
Of all the drivers critical to AI leadership, changes in accessible data pools are expected to have the greatest impact on positioning across the 25 countries in the short to medium term, the report said.
Also Read: How generative AI is changing shopping on Amazon, Flipkart and Myntra
A key finding is that the fastest-growing data pools – such as those in India, Indonesia, South Africa and Nigeria – are also the least accessible.
“Companies would do well to pay attention to changes in data regulations and policies around the world, while policymakers must balance maintaining AI’s competitiveness in innovation with protecting the public,” the report adds.
While AI has been a hot topic in investment, technology and policy circles for some time, 2023 will be remembered as the year it burst into the public consciousness.
India is expected to witness a significant increase in its gross domestic product (GDP) by an estimated $1.2 trillion to $1.5 trillion over the next seven years with the adoption of genetic AI technology and its applications across sectors, according to the latest study from EY India. “The cumulative impact on GDP may range from $1.2 trillion to $1.5 trillion, contributing an additional 0.9% to 1.1% to the annual CAGR.”
The report titled “The AIdea of India: The Potential of Generative AI to Accelerate India’s Digital Transformation” predicts that by fully leveraging Gen AI technology across various sectors, India will potentially generate 359– could contribute $438 billion. This represents an increase in GDP of 5.9 to 7.2% compared to baseline GDP.
Also read: Google unveils its latest AI model, Gemini
“Incurable gamer. Infuriatingly humble coffee specialist. Professional music advocate.”
