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AI to Boost India's GDP by $550 Billion by 2035
24 Jan
Summary
- AI adoption could add $550 billion to India's GDP by 2035.
- Planned innovation city near Mumbai to foster AI advancements.
- AI in governance aims for digitized farming and faster approvals.
Artificial Intelligence (AI) is set to be a transformative force in India's development. PwC's report, 'AI Edge for Viksit Bharat,' projects that inclusive AI adoption could inject $550 billion into India's Gross Domestic Product by 2035.
Ambitious plans are underway, including the development of a 200-acre innovation city situated near Mumbai. This hub aims to accelerate AI-driven progress.
AI is also being integrated into governance. Digitized agricultural data will support millions of farmers, while automated building plan approvals are expected to streamline bureaucratic processes and eliminate delays.
Businesses are already experiencing AI's impact, with notable productivity gains in customer service and hyper-personalized marketing. AI is also influencing lending decisions. The discourse acknowledges potential job displacement, emphasizing reskilling and educational reforms to ensure AI serves as a tool to augment human skills rather than replace them.
