A PwC India and Assocham report says India is well poised for AI-led economic transformation, with With over 36 % of large financial establishments investing in Artificial Intelligence (AI)-driven technologies and 70 % planning to embrace it.
Yet, While AI, Machine learning (Ml) and robotics have a wide range of use cases in financial services sector, their potential has not been fully realised in India, said the joint report. AI can be leveraged to protect economic sectors and infrastructure such as airports and power plants that are vulnerable to attacks.
“Anomalous behaviour detection in individuals and infrastructure disruption prediction (natural/man-made causes) powered by the use of distributed sensors and pattern recognition are examples of AI usage potential in the sector,” the report added.
Along with AI applications in defence, robots can be used to perform jobs which are unsafe for humans-such as recovering explosives, detecting mines, space exploration, deep water probes, scouting for hostile territories, etc.
Policy planning in AI must be aimed at creating an ecosystem that is supportive of research, innovation and commercialisation of applications.
The centre and state governments could look at providing fiscal and non-fiscal incentives for AI research/ deployment, the report advised, adding that setting up centres of excellence supporting inter-disciplinary research can further fuel AI adoption in India. (Story courtesy : IANS)