SEBI, Indian Security market regulator is working on a dozen projects on AI. It has implemented Artificial intelligence (AI) for processing public documents, for example the REIT or Inv IT annual reports as per their chairman in the recently published report by money control.
Global Fintech Festival hosted in Mumbai recently had over 350 exhibitors, more than 1,000 speakers, and representation from 40-plus countries, making it a truly global affair. The Global Fintech Festival 2023 focused on fostering global collaboration for a resilient, inclusive, and sustainable financial ecosystem, with innovations like UPI ATMs and AI-powered Aadhaar authentication showcased. It also recognized industry leaders through the Global Fintech Awards, celebrating advancements in fintech and cross-border payments.
The AI industry continues to surge, with global spending on AI solutions projected to reach $632 billion by 2028. Generative AI is expected to account for $202 billion of this, with a remarkable 59.2% annual growth rate. Industries like financial services, retail, and software are leading in AI adoption, and infrastructure provisioning remains a dominant use case.
AI Industry is reaching nearing $1 Trillion. Bain & Company reported that the global AI products and services market could reach between $780 billion and $990 billion by 2027. The surge is driven by increasing demand for AI hardware and software, large-scale data centres, and sovereign AI initiatives, signalling a transformative phase for enterprises adopting “AI everywhere” strategies.
According to Global State of the Skills Economy Report 2024, India leads with 17.4% of job postings seeking data analytics skills from January to July 2024. This reflects India’s significant position in the growing demand for data analytics and AI-related roles in the global job market.This data highlights the increasing emphasis on analytics capabilities across various sectors as organizations strive to enhance their operational efficiencies and decision-making processes.
