- India Global Business
Indian MSMEs in the age of AI
The Indian government's decision to implement Artificial Intelligence and Machine Learning in identifying and solving challenges faced by MSMEs in India will go a long way in building the sector's resilience as well as contribution to the Indian economy.
Every revolution needs a catalyst, and the coronavirus pandemic sweeping across the world has certainly been the lynchpin that has truly unleashed the AI revolution across the world.
While AI had made its presence many decades ago, the Covid-19 crisis fanned the flames of its applications cross sectors as social distancing measures forced countries, businesses and individuals to go fully digital.
And as the need for faster digital transactions in lesser time mounts, so does the need for varied and widespread applications of AI based technology. So much so that, AI is estimated to contribute around $15.7 trillion to the global economy by 2030.