India's investments in AI to cross $880 mn by 2023: NASSCOM report

The global artificial intelligence investments have doubled in the last year, but India's share in global AI investment remains at 1.5%, the NASSCOM report said

Investments in India’s Artificial Intelligence (AI) capabilities are growing at a CAGR of 30.8 per cent and poised to reach $881 million by 2023, according to the latest report on the AI adoption index by NASSCOM.

The global AI investments have doubled in the last year, but India’s share in global investment remains at 1.5 per cent, the report said. India starts from a lower base compared to its global peers, and despite its high growth, the country will still represent just 2.5 per cent of the global investments in 2023.

AI will aggregate a value-add worth $450-500