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Demand and Opportunities for Artificial Intelligence in India

  • July 13, 2023
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Meet the Author : Mr. Bharani Kumar

Bharani Kumar Depuru is a well known IT personality from Hyderabad. He is the Founder and Director of Innodatatics Pvt Ltd and 360DigiTMG. Bharani Kumar is an IIT and ISB alumni with more than 18+ years of experience, he held prominent positions in the IT elites like HSBC, ITC Infotech, Infosys, and Deloitte. He is a prevalent IT consultant specializing in Industrial Revolution 4.0 implementation, Data Analytics practice setup, Artificial Intelligence, Big Data Analytics, Industrial IoT, Business Intelligence and Business Management. Bharani Kumar is also the chief trainer at 360DigiTMG with more than Ten years of experience and has been making the IT transition journey easy for his students. 360DigiTMG is at the forefront of delivering quality education, thereby bridging the gap between academia and industry.

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According to KellyOCG India's most recent research, the need for machine learning and artificial intelligence is predicted to increase by 60%.

According to estimates, the fields of artificial intelligence in India made 230 million USD in income as opposed to 180 million USD the year before.

By the end of 2020, over 68% of Indian companies would employ artificial intelligence, according to a survey by International Data Corporation and Intel India.

Product- and service-based businesses will use AI for chatbots, engineered recommendations, recruiting, and training services.

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Employees should target companies who are leaders in IT and BFSI Industries like:

  • IBM
  • Infosys
  • Fidelity Investments
  • SAP Labs India
  • JP Morgan chase

For businesses that serve industries like IT, Financial technology, e-commerce, and healthcare, AI is currently the most crucial component.

Data Scientist, AI Researcher, Data Engineer, ML Engineer or Machine Learning Specialist, and Data Analyst are some of the job titles used by those working in the field of artificial intelligence.

The artificial intelligence professionals' compensation range

In India, AI professionals make an average mid-level income of INR 14 LPA.

Demand and opportunity in AI

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From the Horse’s Mouth what the Top Techies in India has in their mind about AI demand:

  • Komal Sharma -Co-Founder XLPAT Labs

    As per our research majorly 2 sectors Agriculture and Healthcare are the prime focus areas where the living conditions of Indians can be improvised. In the next 3-5 years, there would be a huge need for Cloud computing and Machine Learning needs which induced good competition among major companies like Google, Amazon, Microsoft, and Oracle. Indian Government is pushing at it’s best for the overall Digitalization model.

  • Mr Mayank Kapur-Chief Technology Officer -Gramener

    Government of India is the biggest customer for Artificial Intelligence and Data Sciences services in India country

  • Mr.Avik Sarkar Head of Data Analytics cell for Niti Aayog

    AI Applications in India are majorly focused in 3 areas-

    • Precision agriculture
    • Healthcare
    • Indian Languages Project: NLP Platform for Indian languages, there are officially 22 different Indian languages

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Average Salary in India for AI Professionals

Beginners' or entry-level salaries begin at a minimum of INR 6 Lakh Per Annum and can reach INR 50 Lakh Per Annum if you can land a position with an MNC.

The incomes of experts who shifted into AI positions have increased by 60–70% on average. Mumbai comes in first, then Bangalore and Chennai.

At the end of the year of 2022, there will be nearly 133 million AI jobs, according to WEF.

Employing AI specialists are 56% of Indian-based businesses.

Sectors or Industries rapidly adopting and using AI to the core and also creating a huge requirement for AI skilled professionals:

  • Healthcare
  • BFSI
  • Marketing
  • Retail and Manufacturing
  • Media and Entertainment
  • E-Commerce

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