"pageName": "Firm-level changes to realize benefits of AI"
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Firms adopting AI must devise appropriate measures to ensure firm’s readiness to realize its benefits. These could include increased efforts towards each of the following:
Hiring spend to attract advanced skilled workers
Budget allocation for training existing workers on new skills
Worker-training, redesign of existing business processes
Partnerships with start-ups or other external entities
Hiring of advisory experts and/or implementation consultants
Purchase and acquisition of new data sets and/or technologies
The proportion of gig workers with flexible work arrangements
Fig. 1 Increase of Firm-Level Measures due to AI adoption
At least 70 percent of the respondents have indicated the growth of all firm-level initiatives to support AI adoption.
Across small, micro, medium and high-revenue firms, AI adoption has led firms to build designated in-house AI teams to manage the initiative.
Across the board, an overwhelming 80 percent of the surveyed firms have specific AI teams. Refer Fig. 2a
Fig. 2a AI Management Practices in Firms
Fig. 2b AI Management Practices in Firms
Firms within the same revenue segment demonstrate a diversity in overseeing authority – an indication of different models of ownership and control being employed across firms.
Nearly 40 percent of all firms indicate that a designated program manager is responsible to provide oversight to AI initiatives. Refer Fig. 2b
Over 70 percent of respondents across various firm categories expect their organizational headcount to increase in response to AI over the next two years. Refer Fig. 3a
Fig. 3a Change in Headcount due to AI
Fig. 3b Re-training due to AI
Respondents have also indicated that an overwhelming 80 percent of their workforce will undergo significant re-training due to AI implementation over the next two years. Refer Fig. 3b
The AI Index is an initiative that focuses on monitoring the AI readiness and adoption patterns in India. This initiative is a work-in-progress and will be constantly evolving as we expand our data-sets and delve deeper into the world of AI.