As per the TeamLease report, Artificial Intelligence is expected to add $967 billion to the Indian economy by 2035. Around $450-500 billion is expected to add to the nation’s GDP by 2025, accounting for 10 per cent of the country’s target of $5 trillion GDP. At the same time, the iCET-Forces Shaping Future of Technology report by TeamLease Digital stated Artificial Intelligence is anticipated to contribute $15.7 trillion to the global economy by 2030.

The report showed the global market size of Artificial Intelligence in 2022 was estimated at $136 billion, and it is expected to grow at a CAGR of 37 per cent from 2023 to 2030. As per the report, the AI-generated revenue in India stood at $12.3 billion in 2022. In addition, the AI software segment is expected to grow at a CAGR of 18 per cent in the country by the end of 2025.

Concerning the investment, the report stated that the global investment in Artificial Intelligence had a major increase of $77.5 billion in 2021, up from $36 billion in 2020. In 2022, India’s share in global AI investment stood at 1.5 per cent, the report added.

The report’s findings by TeamLease India also stated that there are around 45,000 job openings in AI, among which Data Scientists and Machine Learning Engineers are the sought-after careers in AI in India.

As per the report, India is referred to as the third largest contributor to the AI talent pool, as about 400k of the AI talent base hails from the country. The report says India represents 16% of the global AI talent pool. According to a study based on the talent pool, diversity of talent investment and India’s evolution of digital foundations, Bengaluru marked fifth in rank globally in the top emerging cities with an AI talent pool. New Delhi ranked 18th, followed by Hyderabad at 19th, and Mumbai ranked 27th.