How Machine Learning is Transforming the Indian IT Industry - Mumbai

As technology embeds itself into every aspect of our lives, <a href="about:blank"><strong>machine learning</strong></a> has emerged at the centre of India’s digital transformation. From the use of virtual personal assistants in everyday life to the adoption of image recognition software, technologies driven by machine learning are deeply embedded in our daily lives. Machine Learning is being used for a wide range of functions within the business domain, including market research, search engine optimisation, traffic forecast, customer service, data management, risk mitigation, big data analytics, AI algorithms, and fraud detection. In fact, the market for machine learning is expected to grow to $30.6 billion by 2024 at a Compound Annual Growth Rate (CAGR) of 42.8%.

In India, the highest investments among the various AI technologies are in the field of machine learning applications. The reason behind these high investments is the growing popularity of ML applications across business functions like finance, accounting, general management, IT, operations, and administration. In fact, NITI Aayog has noted that India can add 1.3% to its GDP annually through <a href="about:blank"><strong>machine learning and artificial intelligence</strong></a>.

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