Wednesday, December 1, 2021
HomelatestArtificial Intelligence to add Rs. 62 Lakh Crores to India’s GDP

Artificial Intelligence to add Rs. 62 Lakh Crores to India’s GDP

Accenture Report on Artificial Intelligence 

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The global management consulting and professional services company, Accenture stated that more than Artificial Intelligence (AI) will contribute Rs. 62 Lakhs crores ($957 billion) to India’s GDP by the year 2035. Accenture expressed that AI will bring a revolution the way business will be carried out and will have a great impact on the society in the coming features. Following are the key excerpts from Accenture’s report:Accenture Report on Artificial Intelligence

  1. Developing technologies are contributing 1.3% to GDP annually. This contribution can go up to 15% by the year 2035.
  2. India’s GDP would be at least $6.4 trillion (or Rs. 416 Lakh crores). And AI will be contributing $957 billion (or Rs. 62 Lakh crores) to it. This means the overall GDP will amount to $7.357 trillion.
  3. To come out with this comprehensive report, Accenture has stated that it carried out surveys, discussions and took opinions Universities, Start-ups, Multinational Companies and Policy authors.
  4. Accenture also pointed out that India is lagging in the AI Research & Development among the likes of other G20 nations.

The report comes at a time when opposition parties in India are ridiculing various economic reforms and policies by the Central Government.

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