Unlocking Value from Data and AI - The India Opportunity

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The report “Unlocking Value from Data and AI: The India Opportunity” highlights that data and AI could address dual goals of economic and social value creation and recovery. Learning from best practices of countries, a coordinated program is needed across 5 building blocks - Strategy, Data, Technology stack, Talent and Execution to capture this opportunity. The report also focuses on the key interventions needed to create a vibrant data economy in India.

Key Findings

Role of data and AI in delivering economic value by 2025

Data and AI could add $450-$500 Bn. to India’s GDP by 2025, representing ~10% of the $5 tn. aspiration pre-COVID-19
Enhancing AI usage at a functional level particularly operations can unlock ~50% of this value
Nearly 45% of this value is likely to be delivered by 3 sectors: Consumer goods & Retail, Agriculture, Banking & Insurance

Realizing India’s vision of inclusive development through data and AI

Contributing to effective COVID-19 response and economic recovery
Supporting social initiatives and equitable growth
Enhancing talent and capabilities to position India as the global hub for data & AI services

Essential building blocks to promote data utilization and AI

Countries that are actively promoting data utilization and AI are driving initiatives across the 5 building blocks:

Strategy
Data
Technology Stack
Talent
Execution

Potential actions needed to improve data utilization and AI in India

Launch the National Program for AI and create an apex body
Consider finalizing India’s Data and AI Action Plan
Identify datasets of national importance
Kick off work on 3-5 programs of socio economic importance
Increase data utilization by facilitating access to datasets
Create schemes to engage the AI ecosystem

Unlocking Value from Data and AI - The India Opportunity

Key Findings

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