GenAI can add $1.2-1.5 trillion to India’s GDP by 2030: EY report
Generative AI (GenAI) has the potential to add a cumulative $1.2 -1.5 trillion to India’s GDP over the next seven years, according to a report by EY.
The report titled ‘AIdea of India: Generative AI’s potential to accelerate India’s digital transformation’ says that in 2029-30 alone, GenAI has the potential to contribute an additional $359-438 billion to India’s GDP.
The report said that around 69 per cent of the overall impact of GenAI on India's GDP is expected to be derived from sectors such as business services (including IT, legal, consulting, outsourcing, rental of machinery and equipment, and others), financial services, education, retail, and healthcare.
“Organisations are swiftly adopting an AI-first approach to digital transformation, aiming t...