AI could add over $500 billion to India’s economy by 2030: Study

Artificial Intelligence (AI) has the potential to contribute over $500 billion (about Rs 47.81 lakh crore) to India’s economy by 2030, according to a new joint study by IBM and IndiaAI, a MeiTY initiative.

The report, titled “From Promise to Power: How AI Is Redefining India’s Economic Future”, surveyed 1,500 Indian executives from a range of industries and organisations, covering various leadership levels, including CXOs. The study was supplemented by a pulse survey of 405 Indian executives.

The report revealed that 80% of Indian business leaders surveyed believe AI investments will directly influence the nation’s GDP growth.