Indian tech firms poised to accelerate AI integration: KPMG

Over 80 per cent of technology firms are planning to systematically integrate AI into their products and services within the next 12 months.

Hyderabad: Eighty eight percent of tech leaders believe that AI adoption is key to competitive advantage and only 47 percent are currently seeing significant return on investment from their investments, a study by KPMG International said on Thursday.

The international study titled ‘The Intelligent Tech Enterprise: A Blueprint for Creating Value Through AI-Driven Transformation’ found that 88 percent believe that technology companies that embrace AI will develop a competitive edge over those who do not.

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About 85 percent of companies reported that they will increase the percentage of the global budget spent on AI and 63 percent are aiming to increase AI investments by more than 10 percent in the coming year.

The KPMG report, which is based on insights from 1,390 global executives, revealed that 51 percent of technology companies are systematically incorporating AI into products and services enabling continuous innovation, tailored solutions and market differentiation.

KPMG in India Partner and Head Technology Transformation Purushothaman KG said India’s tech ecosystem is uniquely positioned to leapfrog into the intelligent enterprise era, with 81 percent of technology firms planning to systematically integrate AI into their products and services within the next 12 months.