According to a recent study by Boston Consulting Group (BCG), India is leading in the adoption of Artificial Intelligence (AI), with 30% of Indian enterprises optimising value through the usage of such emerging technology.  

According to the BCG survey, 26% of global organisations use AI. The fintech, software, and banking industries rapidly utilise AI in their operations.  

CEOs are now looking for tangible returns on the technology after years of investing, acquiring expertise, and launching pilots in artificial intelligence (AI), says the survey. In the same breath, the report stated that achieving its full potential remains tough.  

As per the study, despite the broad implementation of AI programs across industries, only 26 per cent of companies have established the essential set of competencies to progress beyond proofs of concept and deliver concrete value.  

The report, titled 'Where's the Value in AI?', was based on a survey of 1,000 Chief Experience Officers (CxOs) and senior executives from over 20 sectors, spanning 59 countries in Asia, Europe, and North America, including up to ten main industries.  

While only 4% of companies worldwide have established cutting-edge AI capabilities across functions that consistently provide significant value, another 22% have implemented an AI strategy.  

The report stated that 74% of organisations have yet to demonstrate meaningful value from their usage of AI.  

Saibal Chakraborty, India Leader of BCG's Technology and Digital Advantage Practice, said, "India's swift adoption of AI is redefining its competitive edge globally, with 30 per cent of Indian companies having maximised AI's value potential--surpassing the global average of 26 per cent... With 100 per cent of companies actively experimenting with AI, India stands out for its readiness to harness AI's potential."  

Furthermore, the maturity of India's AI leaders extends beyond traditional and digital sectors, indicating broad-based adoption that delivers value beyond traditional tech businesses. 

"As India's AI leaders go beyond productivity to reshape and invent new business models, India is poised to lead not only in AI adoption but in generating substantial and measurable value," Chakraborty added. 

Source: Full study