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Artificial Intelligence & Automation takes center stage amid Covid-19 lockdown and the need for faster results

April 15, 2020

AI

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In the current scenario, the adoption of digital and artificial intelligence technologies are likely to have a substantial economic and social impact across countries, as that is the only way forward for faster work processes with minimum human intervention.

AI and automation have become the need of the hour

As lock-downs continue to happen across countries there is a need for governments to evaluate the possibility of incorporating automation across key industries in order to function better specially in these challenging times. Notably, Automation has the potential to alter nearly every facet of work and daily life. Indeed in some areas automation, digital, and artificial intelligence (AI) technologies are already becoming an essential part of our professional and civic lives.

  • The McKinsey Global Institute identified the adoption of digital technologies as the biggest factor in future economic growth: and it is likely account for about 60 percent of potential productivity growth by 2030. AI alone is expected to yield an additional 1.2 percent in productivity growth per year from 2017 to 2030. 

 

AI continues to lead the innovation story

Considering the way AI is making inroads into our lives especially during the most challenging times, it is not surprising to see that it is the leading technology garnering most innovation.

  • The story of the Indian technology companies is no different and according to the last year’s NASSCOM study “Emerging Technologies: Leading The Next Wave Of IP Creation For India”, the share of emerging tech patents filed by India domiciled companies in the US witnessed consistent growth crossing the 50% mark in 2017/18 – with AI leading the emerging technology patents filing.

Artificial Intelligence, Cyber Security, IoT and Cloud Computing accounted for over 50% of the tech  patents filed in 2017/18

 

                                     Source: NASSCOM’s Emerging Technologies: Leading the next wave of Innovation for India

 

Read more such insights in this years’ NASSCOM report focused on how India domiciled Companies are filing patents in the US. Keep tracking NASSCOM Community for more!


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Neha Jain
Senior Analyst

Neha Jain

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