New Delhi: Indian companies have now overtaken the US and the UK in using artificial intelligence (AI). mentioned. This, despite US firms having a headstart over Indian firms in terms of AI adoption.
Made by artificial intelligence company Peak Make a claim in a Report The ‘Decision Intelligence Maturity Report’ was released on October 4. Whether companies in the US, UK and India are ready to rely on AI for decision-making. “Decision Intelligence (DI) is the application of AI to commercial decision making,” said a press note released by Peek.
While 28 per cent of businesses were leading AI six years ago – compared to 25 per cent in India and 20 per cent in the UK – it says India is now a “more mature market”. When it comes to AI, Peak Scored a 64 (out of 100) on the Decision Intelligence Maturity Scale, while the US charts 52 and the UK just 44,”
The claiming entity, the peakEstablished jointly in 2015 By Richard Potter and David Leach in Manchester, UK Jaipur– Atul Sharma, By providing a software platform to companies, AI-based decisions can be made on how to maximize profits.
In 2021, the peak boarded up Multi-billion dollar conglomerate SoftBank Group is credited with giving a big push to e-commerce worldwide with its investments. Its founder-CEO is Masayoshi Son Said In 2019 the group is investing “USD 100 billion” in AI alone.
“India already exists It has overtaken the UK to become the fifth largest economy in the world and there are clear signs that its growth will not stop,” said Peake CEO and Co-Founder. Release of Richard Potter.
The US and the UK have also lost ground in the global AI race as India claims the top spot at a time when the West faces growing geopolitical uncertainty.
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A survey of 3,000 decision makers
The report’s findings are based on a survey of 3,000 “senior decision makers” employed by companies with at least 100 employees across the US, UK and India, conducted by Opinium, a London-headquartered third-party market research agency. 21 and 31 July 2022.
The questions in the survey revolved broadly around five areas, namely ‘decision-making’ (how well a company uses AI to improve business decisions), ‘data and technology’ (the level of sophistication of a company’s data collection methods), ‘value’ (how much of the value generated by AI money invested), ‘strategy’ (how effectively the company intends to implement and improve AI adoption over time), and ‘people and processes’ (the company’s attitude towards AI).
Based on their responses to these questions, companies are scored on a scale of zero to 100 to assess their current level of maturity in each of the five areas.
Indian companies scored higher than the UK and US in all five areas.
In the report, Atul Sharma, chief technical officer and co-founder of Peak, said Indian businesses “have matured far behind their Western counterparts”. This means that “Indian businesses are starting from a more advanced technology baseline and do not face the implementation delays caused by legacy tech that we have seen in other markets”.
Another reason businesses surveyed in India scored higher is that employees in middle management and below are “more fully aware of the AI projects in their organizations” than in US and UK firms, a Peake press note said.
(Edit: Amrithamsh Arora)
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