Decoding the Future with Artificial Intelligence
One technology that has dominated news in recent times is Artificial Intelligence (AI). It has seen massive adoption from enterprises to startups, ranging from the private to the public sector. In fact, ChatGPT, that is now synonymous with Generative AI, saw over a million users in just five days!
With more innovations and advancements taking place, it makes us wonder how the inevitable AI-powered future would look in India. So, join us as we explore the impact of Artificial Intelligence on our future!
So, What Is Artificial Intelligence?
Artificial intelligence, better known as AI, essentially trains a computer to mimic human thinking and learns to perform certain tasks to solve problems. Yet, this definition does not do justice, as AI is a diverse field with various use cases in daily life.This technology is set to revolutionize how we work, communicate, collaborate, travel and go about our day-to-day activities. That’s why every artificial intelligence company in India is looking to create products and services that will make an AI-enabled future more feasible.
So, what does the future hold for this transformative technology?
What Is The Future With AI In India?
The Indian artificial intelligence market is expected to grow from USD 3.1 billion in 2020 to USD 7.8 billion by 2025, showing a compound annual growth rate of 20.2%. This shows great potential for artificial intelligence companies in India to address the growing demand for AI-driven offerings. Furthermore, according to to NASSCOM, the ‘AI Skills Penetration Factor’ is the highest for the Indian workforce, with Indian talent being three times more likely to possess AI skills among G20 and OECD nations. Naturally, the future of AI in India looks bright, with leading AI applications such as:
Virtual Assistants: AI-powered virtual assistants will understand and respond to natural language, either spoken or written, making our interactions with devices more intuitive. Think of having Siri or Alexa embedded into machines that we interact with in our daily routines!In fact, Volkswagen has just introduced vehicles with in-built ChatGPT functionalities. With strides in Natural Language Processing (NLP) technologies, virtual AI assistants are an inevitable outcome in man-machine interactions. Artificial Intelligence companies in India such as Haptik and AI4Bharat are developing AI assistants that can converse in several Indian languages too.
Recommendation Systems: AI algorithms can make suggestions based on user preferences, as they can analyze vast volumes of data to find trends, patterns and relationships within them. This will enhance our everyday experiences in the future.From better recommendations on shopping sites to quicker routes on navigation apps, AI will deliver tailored recommendations across a wide spectrum of services. In India, Tata Elxsi is offering AI-based recommendation systems for businesses in industries such as healthcare, banking and e-commerce.
Generative AI: Tools such as ChatGPT, DALL-E and Midjourney have taken the world by storm. So, these technologies mature, generative AI models will get better at understanding contextual information and churning out tailored outputs. This will enable users to create text, video, image, code and other assets by simply entering a relevant prompt.For instance, FusionwaveAI is an Indian Artificial Intelligence company that provides AI solutions for Web 3.0 services, while SplineAI offers generative AI solutions for smart healthcare platforms.
Autonomous Driving: With improvements in AI coming thick and fast, self-driving cars are likely to become more sophisticated (and possibly the norm) in the future. Autonomous vehicles will boast improved safety and convenience, as AI models can make split-second decisions based on hundreds of inputs.In fact, the most promising outlook for AI-based computer vision is its increasing integration into vehicles, creating autonomous cars that can drive without human intervention. An AI company in India notable for its contribution to this domain is Minus Zero, a Bengaluru-based AI startup that unveiled India’s first fully-autonomous vehicle, zPod, in 2023.
While AI will have a major say in the future, every artificial intelligence developer must consider the risks and challenges.Today, AI development and research is confined to technology giants and research institutions. Yet, the promise of democratized AI development is will be critical in the future, where user-friendly platforms will make the power of AI accessible to everyone.
That’s what we aim to do at EaseMyAI – so, check out our AI products and be future-ready!