Paper Contents
Abstract
The business environment is highly volatile and has affected Indian industries on a large scale. India has come a long way toward becoming a force to be reckoned with in the international economy. India is being projected as a manufacturing hub through the "Make in India" campaign.India emerges as one of the greatest marketplaces for digital consumers, with a population of 1.38 billion and more than 500 million internet users. In February 2018, NITI Ayog led a nationwide initiative on "National Strategy for AI, which emphasizes India's AI strategy. It offers more than 30 policy proposals, including accelerating the implementation of artificial intelligence throughout the value chain, promoting ethics, confidentiality, and security in AI, and promoting investments in scientific research. Countries like the USA, China, Singapore and Canada have announced their national AI strategy documents. Investment in AI start-ups in India has grown to USD 73 million in 2017 from USD 44 million in 2016. Among the G-20 countries, India had the third-highest number of AI start-ups in 2016. The government identified various areas where AI could be effectively used, such as health care, agriculture and education. This paper attempts to examine the changing scenario of the business environment, and it also studies the opportunities and challenges of the digital economy considering AI in India.
Copyright
Copyright © 2024 Shivani Saxena. This is an open access article distributed under the Creative Commons Attribution License.
