Generative AI Poised to Boost India’s Economy by $1.5 Trillion in 7 Years, Says EY Report
As India strides into the realm of advanced technologies, a recent Ernst & Young (EY) report underscores the potential of generative artificial intelligence (AI) to inject up to $1.5 trillion into the country’s economy over the next seven years. The report emphasizes the transformative impact of generative AI tools across various sectors, such as financial services, logistics, healthcare, retail, transportation, and education, citing enhanced efficiency, productivity, and personalized customer experiences.
According to EY, embracing generative AI is crucial for Indian enterprises to navigate the era of “Digital Darwinism,” but the report also sounds a cautionary note. It highlights data privacy risks as a significant concern for businesses integrating generative AI, emphasizing the importance of addressing these risks to prevent reputational and