A study on the current market for Artificial Intelligence (AI) in India, developments, size, and opportunities reveals some important trends.

The AI market in India has increased by 22% from last year to become USD 7.8 billion in 2021. Twenty percent more AI professionals have been employed since last year, yet there is only 10,900 personnel employed in AI in India today.

When it comes to salaries, the average AI professional earns around Rs. 14.3 laks in a year with the highest remuneration seen in Mumbai. This study was developed by Analytics India Magazine, in association with TAPMI.

Median Salary by City

While the pandemic affected the AI sector quite adversely, there were about 14,500 positions in AI still open. Among the different cities, Bengaluru appeared to have the highest number of available jobs.

In the future, as demand for contactless services rises, the need for the adoption of AI technology is expected to increase. And the sectors that will see demand will be eCommerce and healthcare.

Among the leading multinational companies in IT like Accenture, IBM, and Capgemini, Accenture has the largest AI operations base in India. Whereas across software technology firms such as Microsoft, Google, SAP, Oracle, and AWS, Microsoft has the largest setup in India.

Artificial Intelligence Market Forecast

India, along with Brazil and UAE was affected the most in this pandemic. About 91% of respondents in a concurrent survey from India said they were affected badly after the pandemic, which was much higher than the global average. About 44% of Indians said they were struggling financially, as compared to the global average of 29%.

However, they also responded that they were open to technology for support. People in India seem to show a desire to future-proof themselves when it came to their careers and this meant they were willing to acquire new skills. Interestingly, there are some very high-quality options available online.

Make use of resources available for free and for more advanced learning there are courses where you can be trained by experts from the industry.

Like Albert Einstein noted, “The measure of intelligence is the ability to change.”

                                                                                                 Author: Anjana Das