Our research shows that vibrant AI ecosystems are based on five pillars: universities, large companies, startups, policy makers and multi-stakeholder partnerships. The relative role of these five varies from market to market, partly depending on the maturity of specific industries and the political culture of each country.
To understand how to foster growth and innovation while safeguarding consumer rights and ethical considerations, India’s AI stakeholders should consider the following five recommendations:
- Forge a national AI plan and multi-stakeholder partnerships in key sectors
- Strengthen India’s AI research and development ecosystem, including through better international cooperation
- Create a workforce of the AI future, fostering inclusive workforce models
- Enable and broaden access to data
- Embrace smart regulation to safeguard responsible AI
At a time when India is striving to rekindle productivity and growth, AI promises to fill the gap. A full and responsible implementation of AI will open new economic opportunities that would not otherwise exist. The guiding principle should be to create “people first” policies and business strategies, centered on using AI to augment and extend people’s capabilities for the benefit of humankind.