Indian enterprises may spend $9.2 bn on AI by 2028

Indian enterprises’ investment in artificial intelligence (AI) is set to grow at a compound annual growth rate (CAGR) of 35% to reach $9.2 billion by 2028, a research paper released by International Data Corporation (IDC) and data integration platform Qlik showed.

The report further said that 36% of Indian enterprises are already using generative AI in their operations, while 46% plan to make an investment towards the same over the next 12-24 months. India also has a higher percentage of enterprises with AI projects in the proof-of-concept stage at 18% compared to the Asia Pacific (APAC) average of 8%.