Pune, India, 6 February 2023 – MyFinB Group and the Centre for AI Innovation (CEAI) Founder, Prof M Nazri, highlighted why India should not be underestimated in the race for AI among the global economic powerhouses. Nazri is a leading expert in the field of Artificial Intelligence (AI), who is ranked #1 globally in AI, digital transformation and predictive analytics since June 2021 by Thinkers360 – the world’s largest and first open platform for world’s foremost thought leaders & influencers on business, technology and sustainability for game-changing results.

Prof Nazri pointed to several key factors that make India a strong contender in the global AI race. First, India has a large pool of talented and skilled engineers and data scientists, who are driving innovation in the field. Second, the country has a thriving startup ecosystem, with many startups and established companies working on cutting-edge solutions in areas such as healthcare, finance, and transportation. Finally, the Indian government has launched several initiatives to promote the development and adoption of AI, including the National Artificial Intelligence Portal and the National AI Strategy.

In support of Prof Nazri’s observations, several leading consulting firms have released reports highlighting India’s tremendous potential for AI dominance globally. For example, a recent report by Accenture estimates that India’s AI industry could reach $957 billion by 2035, while a report by BCG predicts that AI could contribute $500 billion to India’s GDP by 2030.

“These reports highlight the tremendous opportunities that exist for India in the field of AI, and the country’s strong potential for growth and dominance in the global AI landscape,” he emphasised.

Prof Nazri believes that India has the potential to lead the world in AI innovation and deployment, and that the country has a critical role to play in shaping the future of AI globally.

“India has all the necessary ingredients to become a leader in the field of AI. With a large pool of talented engineers and data scientists, a thriving startup ecosystem, and supportive government policies, India has the potential to shape the future of AI globally. We must not underestimate India’s potential in the global race for AI, and we must create the right incentives and environment to support the country’s growth and innovation in the field,” said Professor M Nazri.

He stated, “As the world watches the battle between the USA and China for AI supremacy, India is quietly making significant progress and must not be underestimated. With its rich pool of talent and technological expertise, India has the potential to become a major player in the global AI landscape.”

According to recent reports by leading consulting firms, India has a growing AI talent pool, with over 4,000 professionals in the field, and more than 200 AI startups, making it a hub for AI innovation. In comparison, China has an estimated 10,000 AI professionals and over 1,000 startups. Meanwhile, the USA leads with over 20,000 AI professionals and 5,000 startups.

Furthermore, India’s efforts in AI are being supported by the government with investments in research and development, as well as initiatives aimed at encouraging innovation in the private sector. The country is home to some of the world’s largest tech companies, including Tata Consultancy Services and Infosys, who are driving innovation in the AI space.

In conclusion, Prof. Nazri emphasized, “India’s potential in the AI race should not be underestimated. With the right incentives and environment to accelerate innovation, India has the potential to leapfrog its way to the forefront of the AI revolution and emerge as a major player in the global economy.”

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MyFinB is an award-winning tech company that specializes in artificial intelligence. The company developed its own natural language platform with predictive and prescriptive narrative capabilities – a niche area that differentiates itself from any others. MyFinB helps people understand and communicate what is most important in their data. By transforming data into insightful, human-like language, the company’s natural language technology enables people to be data-driven and make better decisions, focus talent on higher-value opportunities, and create differentiated products.

The Centre for AI Innovation (CEAI) forms part of MyFinB Venture’s portfolio of innovative, disruptive projects to guide and support the digital transformation initiatives by organisations and business innovators.. We have a strong presence in many countries, including North America, Europe, Asia, and the Middle East. Our global operations allow us to offer our clients a wide range of services and support, including data analysis, AI implementation, and ongoing maintenance and support. We are constantly expanding our global reach, as we believe that AI has the power to improve businesses and societies around the world.

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Suryadatta Group of Institutes

Name: Aruna H.  
Designation: Director – Strategic Alliances
Mobile: +91 9741158713
Email: aruna.hurkadli@suryadatta.edu.in
Organization: Suryadatta Group of Institutes

Name: Shanker Damodaran
Designation: Managing Partner
Mobile: +91 92650 73633
Email: shanker@ceaiglobal.com / shanker@globalchamber.org
Organization: Centre for AI Innovation (CEAI) @ India

Name: Addiennur Hamizah 
Designation: Head of Partnerships
Mobile: +65 9627 9757
Email: hamizah@ceaiglobal.com
Organization: Centre for AI Innovation, Global