Over the past few years, India has witnessed massive growth in the tech – market .As of 2020, the AI market in India was at a value of 3.1 billion USD. This is predicted to grow even further to 7.8 billion by 2025 which makes the Compound Annual Growth Rate (CAGR) of 20.2%. The predictions reveals, 2022 will prove to be a revolutionary year for AI in India. Most prominent companies are working relentlessly on advanced AI algorithms for reliable solutions at high speed to optimize processes and automate better workflow.
Let us look at the top most promising Indian AI companies in 2022
BOSCH : The company has established its name in the market for its top class products. The Bosch Center For Artificial Intelligence (BCAI) was launched in 2017 with a vision of installing cutting edge AI technology in every Bosch product and services.
Tata Elxsi : This company has gained its recognition since the past 25 years. They expertise in innovations powered by AI and Analytics. They offer customer oriented models using its strong cloud based integrated data analytics frameworks. Their technology is under patent process which once done, will give promising and insightful results. The stock return of this company in the past three years has been a massive 174.89%. On the other hand NIFTY IT gave its investors a return of 106.55 %. In the last fiscal year ( March 2021), the company has been very efficient on its operating revenues and staff costs which were less than 1% and 56.1% respectively.
Happiest Minds : The company aims to enhance consumer experiences by emphasizing on augmented intelligence infused with natural language processing, image analytics, video analytics and also AR and VR. The company has an ambition of inventing AI based programs equipped with strong algorithms which are enabled to think, learn and make decisions mimicking humans. The fiscal year of March 2021 proved to be very fruitful for the company as it crossed its five year average which was 23.07% and enjoyed an ROE of 29.62 %. As of now, the company has a total capitalization of INR 13,507.78 crores.
Oracle Financials : The company works to assist in the implementation of AI in IT firms and companies. Oracle uses cloud based applications and platforms and an independent database which speeds up the process of automation while at the same time minimizing human errors.
Kellton Tech : This Hyderabad originated BPO and IT firm has grown overseas including the USA and Europe. With over 1400 people on board, Kellton Tech has successfully raised net revenues of more than INR 7.39 billion. The company invents models with core AI solutions which earlier needed human brains. The company’s stock gave a return of 40.86 % in a three year period, on the other hand NIFTY IT returned a total of 106.55 % to its investors. Though being a small cap business, Kelton Tech was started in 1993 which has now achieved a market capitalization of INR 712.75 %.
It is quite evident that India’s market is growing rapidly in the field of Artificial intelligence. The country is in the transition phase of this shift to AI in all sectors. This year will truly be remarkable for Artificial Intelligence to make a deeper impact in the Indian tech market, all thanks to these top promising companies. This wave of rapid growth of AI will revolutionize the future growth of the Indian market in artificial intelligence and automation.
Author- Toshank Bhardwaj, AI Content Creator
