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India's AI spending to grow at 30.8% CAGR to USD 880.5 Mn in 2023: IDC

Shortpedia

Content Team
Image Credit: shortpedia

India's AI (artificial intelligence) spending is expected to grow at a CAGR of 30.8 per cent to touch USD 880.5 million (around Rs 6,490.6 cr) in 2023, research firm IDC said. Enterprises are relying on AI to maintain business continuity, transform how businesses operate and gain competitive advantage. India's AI spending will grow from USD 300.7 million in 2019 to USD 880.5 million in 2023, as per IDC AI spending guide forecast.