India may rank 15th out of the top 25 countries for artificial intelligence, but according to data from Tufts University’s Fletcher School of Management, it has “the greatest upward potential.”
In the race for worldwide AI leadership, the US is at the top, followed by China, the UK, Japan, and Germany. India is ranked 15th, ahead of Argentina, Brazil, Mexico, Turkey, Indonesia, and Thailand.
The goal of the study was to compare the state of artificial intelligence (AI) in different nations using four criteria: the rapidly growing data pools from broadband consumption; data governance policies and cross-border data flow; capital, which includes investments, talent, diversity in AI talent, and the development of the digital foundation; and innovation, which includes patent applications, publications, citations, and other forms of recognition.
India has immense potential if given the right direction, according to studies conducted by Bhaskar Chakrovorti, dean of global business at the Fletcher School.
Out of all the countries we looked at, its data pool is expanding at the second-fastest rate (behind Indonesia). It already possesses the largest mobile data pool in the world. As long as the data is made available in appropriate ways, all of these can help it become a “data-rich” nation, which is essential for developing AI, according to Chakrovorti’s interpretation of the results.
This does not negate the existence of difficulties. Chakravorti admits that data accessibility in India is poor, especially when it comes to cross-border data migration. India has the third-largest AI/ML talent pool in the world, but to capitalize on this strength, it must make investments in data science, machine learning, and technical education.
In summary, the educational system’s inability to keep up has resulted in the large numbers of untapped talent in the pool.
Chakrovorti agrees that investment into AI firms in India is encouraging, but only under the condition that regulations are in place.
“AI safety regulations that establish safeguards, forbid the use of AI for surveillance, improve privacy and security, and foster innovation must be implemented by the government.” This is a challenging order since it takes a while for Indian regulations to develop,” he said.
He emphasized that although India limits access to data, its laws governing AI are still subject to change. A fresh consultation document published in July by the Telecom Regulatory Authority of India (TRAI) advocated for the creation of a statutory body to oversee AI under a “risk-based framework.”
Additionally, TRAI recommended working with international organizations and governments to promote the appropriate use of AI worldwide—a development that Chakrovorti thinks India may have a big influence on.
India has a lot of potential to rise in the rankings, as Chakrovorti stated, but sensible regulatory measures and better education can hasten that process.
The researchers used more than 20 institutional sources to determine their ranking, including proprietary data partnerships with SeekOut and Geoge Washington University’s Data Governance Hub, as well as public databases like the World Bank and the International Telecommunication Union.
They also visualized the evolving geography of AI leadership using their models and information.
According to the study, generative AI alone will have an impact on 300 million employment and generate up to $4.4 trillion yearly.
