-
-
News
News Highlights
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueCreating a Culture of Collaboration
PCB designers could learn quite a bit from NASA and the private companies that develop spacecraft: Every one of these vehicles is a testament to the value of collaboration among disparate stakeholders. Without a collaborative culture, the rocket might never get off the ground.
Breaking High-speed Material Constraints
Do you need specialty materials for your high-speed designs? Maybe not. Improvements in resins mean designers of high-speed boards can sometimes use traditional laminate systems. Learn more in this issue.
Level Up Your Design Skills
This month, our contributors discuss the PCB design classes available at IPC APEX EXPO 2024. As they explain, these courses cover everything from the basics of design through avoiding over-constraining high-speed boards, and so much more!
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - design007 Magazine
AI Expansion to Transform India: Spending Expected to Reach $6 Billion by 2027
June 24, 2024 | IDCEstimated reading time: 2 minutes
According to International Data Corporation (IDC), Artificial Intelligence (AI) and Generative AI (GenAI) adoption in India significantly increased, including software, services, and hardware for AI-centric systems, with spending projected to reach $6 billion by 2027 and a compound annual growth rate (CAGR) of 33.7% for the period 2022-2027.
IDC forecasts that worldwide AI spending will exceed $512 billion by 2027, more than double its 2024 market size. IDC presented these trends and highlighted India’s potential to become a global leader in the development and use of next-generation AI technologies to more than 160 senior executives from India’s most influential technology vendors and IT services providers who attended the Directions India conference last June 12, 2024.
IDC Directions, IDC’s flagship event dedicated to delivering informative and actionable insights on the issues shaping ICT markets, returned to India this year after a ten-year absence. Focused on the theme The Digital Business Impact of AI Everywhere, it included discussions on current global and local AI trends, outlooks and predictions, as well as recommendations for technology vendors and service providers on how they can guide clients realize productivity gains, create more compelling experiences and accelerate growth through new revenue streams from their AI initiatives.
Linus Lai, Vice President, Digital Business, IDC Asia/Pacific, also shared in his keynote at the event that 76% of Indian enterprises are already focused on GenAI proofs of concepts (POCs) or already have an investment plan in place. Lai reiterated that, “This AI Moment is not a one-hit-wonder. Its implications for India are widespread and strikes at the heart of culture and business model transformation with data as its most valuable asset.”
Dr. Christopher Marshall, Vice President, Data, Analytics, AI, Sustainability and Industry Research, IDC Asia/Pacific who talked about building a defensible business strategy for the AI era, added that, “India is the sleeping giant in Generative AI. Its scale, skills, and startups are set to transform not just AI in India but also in the world.”
Another prediction shared during the event was that by 2025, 40% of services engagements will include GenAI-enabled delivery, triggering a shift in human-delivered services for strategy, change, and training to prepare organizations for AI everywhere. IDC recommended that while transforming internally, Indian service providers should continue delivering value and meeting evolving customer needs, including supporting customers through their own AI transformations. To truly dominate the CX services market, analysts at the event also advised service providers to challenge and lead clients by offering CMOs more GenAI-fueled end-to-end services.
Suggested Items
India Large Format Printer Market Grew 2.7% YoY in 1Q24
06/25/2024 | IDCAccording to the IDC Worldwide Quarterly Industrial Printer Tracker, a total of 3,422 units of large format printers were shipped in the first quarter of 2024 for India, with an annual growth of 2.7% and a sequential quarterly growth of 10.2%.
Nortech Systems Names Debarati Sen New Board Member
06/20/2024 | Nortech SystemsNortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced the addition of Debarati Sen to the Company's Board of Directors.
Foxconn Strengthens Sustainability with Independent Audits at 8 Manufacturing Sites
06/13/2024 | FoxconnHon Hai Technology Group (Foxconn) has completed independent, third-party audits of eight major manufacturing campuses in China and India, taking action as the world’s largest electronics manufacturing service provider to strengthen sustainability in its operations and serve as a global best-practice model.
Renesas, Indian Institute of Technology Hyderabad Sign Agreement to Accelerate India’s Semiconductor Independence
06/11/2024 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and the Indian Institute of Technology Hyderabad (IITH) have signed a three-year memorandum of understanding (MOU) for research and collaboration in the field of VLSI and embedded semiconductor systems.
Canon Eyes Significant Expansion of Core Business in India
06/07/2024 | PRNewswireHighlighting India's crucial role in its global growth strategy, Canon today announced its outlined plans for strengthening its core business segments of imaging, printing, and surveillance, along with growing presence in the Semiconductor, Flat Panel Display business and the medical industry.