India is quickly emerging as one of the top nations in embracing artificial intelligence (AI), particularly in the Asia-Pacific region. According to a recent IDC report, the region has seen a significant rise in the adoption of Generative AI (GenAI), encompassing software, hardware, and AI-centric systems services.
The Asia-Pacific region is expected to experience a substantial increase in GenAI spending, projected to reach USD 26 billion by 2027, with a remarkable compound annual growth rate (CAGR) of 95.4%. This surge is poised to position the region as a key player in driving the next wave of AI innovation and technological advancement.
Head of Research for Big Data and AI at IDC APJ, Deepika Giri, highlighted that GenAI investments are anticipated to peak within the next two years, followed by a period of stabilization. While China is expected to maintain its dominance in the GenAI market, Japan and India are forecasted to be the fastest-growing markets in the coming years.
Industries across the region, from software development to customer service, are witnessing a revolution with GenAI, ushering in a new era of innovation. The financial services sector, in particular, is experiencing rapid growth in GenAI adoption, with projections indicating it could reach USD 4.3 billion by 2027, boasting a CAGR of 96.7%.
Meta recently announced testing its AI chatbot, Meta AI, on WhatsApp in India, offering users the opportunity to engage in conversations via the generative AI-based chatbot. The innovative chatbot, running on the Large Language Model Meta AI (Llama), is available on various Meta platforms, including Instagram and Facebook within the country.
These developments signify India’s growing presence in the AI landscape, showcasing the country’s readiness to embrace and leverage artificial intelligence technologies for future growth and innovation.
