Hyderabad: India Inc is increasingly seeing higher value in leveraging emerging technologies such as Artificial intelligence/Machine Learning (AI/ML) and projects using these technologies are expected to attract higher investments over the next five years, according to the AI and Future of Work Survey conducted by ISB and Intel.
.The findings of the report are based on two surveys - the Suitability of Machine Learning (SML) Survey conducted among 3,099 employees across 106 Indian occupations, and the AI and Future of Work Survey of 301 firms that have adopted AI/ML in their workflows.
As per the findings of the survey, over 70% of respondents across various categories expect their organizational headcount to increase in response to AI and 80% of their workforce to undergo re-training due to AI implementation over the next two years.
When it comes to decision making, nearly 70% of high-revenue firms rely on AI for decision-making, whereas nearly 50% of the medium sized firms rely entirely on human decision-making as they do not use AI.
Nivruti Rai, country head, Intel India said, “There is a need to better understand AI’s integration and impact at work to accelerate innovation and scale its benefits, especially in emerging economies like India. This study will help drive future research to meaningfully inform policymakers and industry about the impact of AI & ML.”
Deepa Mani, professor of information systems and executive director of SRITNE, ISB, said, “Technological advances in recent years have ushered machines into the workplace...and the pandemic has only accelerated this growth... Hence, it is important for policymakers and organizations to develop an acute understanding of this future of work as they frame policies for work and workers.”