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Demand and opportunities for Artificial Intelligence in India

  • by Mr. Sharat Chandra
  • June 18, 2020
  • 463

As per the most recent report by KellyOCG India, it is expected that there would be a 60% Increased demand for Artificial Intelligence and Machine Learning.

The AI Industry in India is estimated to have generated a revenue of 230 Million USD compared to last year’s revenue of 180 Million USD.

According to an International Data Corporation report with Intel India, over 68% of Indian Companies will adopt Artificial Intelligence by the end of the year 2020.

Companies like Product based and Service based will adopt AI for Chatbot, Recommendation engines, Recruitment, and Training services.

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

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

AI is now the most essential feature for companies serving sectors like IT, Fintech, E-commerce, and Healthcare.

Employees in the field of AI will have designations like Data Scientist, AI Researcher, Data Engineer, ML Engineer or Machine Learning Specialist, and Data Analyst.

The salary Bracket for Artificial Intelligence Professionals

The average mid-level salary range for AI Professionals in India is INR 14 LPA.

Demand and opportunity in AI

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

    Average Salary in India for AI Professionals

    Beginners or Entry Level salary starts from Minimum INR 6 Lac Per Annum, even 10 LPA if you can grab a job opportunity with an MNC and goes up to INR 50 Lac Per Annum.

    On average there has been a 60-70% increment of salaries of professionals who have transitioned themselves into AI roles. Mumbai being 1st followed by Bangalore and Chennai.

    As per WEF close to 133 Million, AI Jobs will be created by the end of 2022.

    56% of Indian based companies are hiring AI professionals.

    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

    Highly recommended AI Development companies in India

    • Sigma Data Systems
    • Spec India
    • Day one Technologies
    • Solulab
    • Cyber Infrastructure Inc
    • Quytech
    • Brancosoft Pvt Ltd
    • Dew Solutions Pvt Ltd
    • Setuserv
    • Prolitus Technologies
    • Techugo
    • The Ninehertz
    • Endive Software
    • Dotcom Infoway
    • Fusion informatics
    • SITSL
    • Appstudioz
    • Digiprima Technologies
    • Depasser Infotech
    • TechAhead
    • Azilen Technologies
    • Ecosmob Technologies
    • Plaxonic Technologies
    • Fortunesoft IT Solutions
    • Wappnet Systems

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