Nasscom-BCG Report Forecasts

Get ready to dive into some thrilling news! On February 20th in Mumbai, Reuters delivered an electrifying update. Brace yourself because India’s artificial intelligence (AI) market is set to skyrocket to a whopping $17 billion by 2027! 

But wait, there’s more! The IT industry powerhouse Nasscom and consulting giant BCG have teamed up to bring this groundbreaking revelation. Their joint report, released with much anticipation, unveils a jaw-dropping annualized growth rate of 25-35% for the AI market between 2024 and 2027. 

Can you feel the excitement building? What’s fueling this incredible growth, you ask? Look no further than the surge in enterprise technology spending, the remarkable expansion of India’s AI talent pool, and a surge in investments pouring into the AI arena. Nasscom and BCG couldn’t contain their excitement as they highlighted these game-changing factors in a statement leading up to the report’s unveiling on Wednesday.

And the numbers don’t lie! India boasts over 420,000 AI professionals, showcasing unparalleled skills penetration in the global AI landscape. Talk about setting the bar high! But that’s not all – this report goes beyond the numbers. With insights gathered from over 65 industry leaders, it paints a vivid picture of India’s AI-powered technology landscape, offering a glimpse into the future of innovation.

Hold onto your seats because the momentum doesn’t stop there! As IT giants pour resources into employee training, startup ventures, and the development of cutting-edge technologies, the demand for AI talent is set to soar at an annualized rate of 15% until 2027. 

Can you say “opportunity knocking”? Here’s the cherry: A staggering 90% of the top 25 technology service providers have pledged their commitment to large-scale Gen AI skilling initiatives, showcasing the industry’s unwavering dedication to nurturing AI expertise. With India poised to lead the AI revolution, the future is brighter than ever!

Get ready to ride the wave of innovation and witness history. The countdown to greatness starts now!

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