In this article, we will discuss Potential of AI in India. So, let’s get started.
Potential of AI in India
- National Strategy For AI: A recent PwC report indicated that AI can provide a global economic value addition of up to USD 15.7 trillion by 2030.
- Recognising this potential, the government released the National Strategy for Artificial Intelligence (NSAI) in June 2018.
- The strategy serves as a roadmap for the government to adopt artificial intelligence to increase efficiency in delivery of services, collaborate with the private sector to enhance public sector potential, and develop capacities to embrace and deploy innovation.
- Deregulation of Geospatial Sector: Recently, the government has deregulated the geospatial sector allowing private players to bring state-of-the- art solutions to the sector, and spur innovation in AI-enabled hotspot mapping and analytics.
- In India this can lead to transformation of various sectors such as infrastructure, health, and help in designing climate change resilient cities
- Geospatial: In simple terms, geospatial information is geography and mapping. it is “place based” or “locational” information. It is data tied to and portrayed on a map.
- Reducing Energy Losses: Energy is another key sector which can benefit from the wide scale adoption of AI.
- By using AI in the energy sector, renewable energy generators and Discoms can cut losses and increase efficiencies by better predicting grid load management, and ultimately making the adoption of renewables cost-effective.
- Currently, Delhi and Kolkata alone account for USD 36 million of annual loss in revenue from renewable energy losses; across the country, the number is significantly higher — in the billions of dollars.
- Increased Governance: With the use of AI, the Power Ministry’s Renewable Energy Management Centres (REMCs) will be able to provide enhanced renewable energy forecasting, scheduling, and monitoring capabilities by processing large datasets of past weather, generation output history, and electricity requirement in a region.
- AI solutions to Emerging Trends: Digital transformation through AI can help governments in being more responsive to emerging trends and act accordingly.
- Within the government machinery, policymakers are moving forward with incorporating AI solutions for effective tax monitoring, data compliance etc.