June 21, 2023
1 min read

54% of Indian firms implemented AI

About 38 per cent of Indian companies revealed that they do not have any plans to adopt digital technology for their businesses…reports Asian Lite News

About 54 per cent of Indian companies have implemented artificial intelligence (AI) and analytics for business functions, a new report showed on Tuesday.

According to global consultancy firm PwC, digital champions from across the six sectors in India believe that being resilient, transparent and sustainable will prepare them for future growth.

However, they believe that greater innovation and faster time to market will help them remain competitive in the coming days.

“Organisations are focusing on improving the efficiency of processes, such as reducing the downtime of assets, minimising the maintenance cost of expensive equipment, cutting down the cost of poor quality by understanding the parameters needed for the golden batch using digital twins, automation of processes like connected workstations using IoT for better visibility at the shop floor and workflow-based automated solution for efficient scheduling,” said Sudipta Ghosh, Partner, Industrial Products Sector and Data and Analytics Practice Leader, PwC India.

About 38 per cent of Indian companies revealed that they do not have any plans to adopt digital technology for their businesses.

The report said that Indian manufacturing companies currently prefer to adopt one standardised digital solution across plants compared to global companies which prefer one standardised digital solution with different functionalities or modules.

“Analytics continues to play a significant role in improving the decision-making process, both at the shop floor as well as across the entire supply chain. The return on investments will be governed to a large extent by how organisations are using the data to generate insights and take timely decisions,” Ghosh said.

Further, the report said that Indian companies tend to focus more on people, policies and mindset while global companies prefer to build up the right system for driving any transformation.

ALSO READ-Benz adds ChatGPT to voice control of its vehicles

Previous Story

Michael Miebach joins USISPF Board of Directors

Next Story

Tom Cruise’s death defying bike stunt in ‘Mission Impossible’

Latest from India News

Modi Ends China Trip, US Hails India Ties

US termed India-US ties as a “defining relationship of the 21st century”, stating that partnership between both countries continues to reach new heights….reports Asian Lite News Shortly after videos and images of

India Snubs China’s BRI Again

India has refused to support China’s BRI during the previous SCO Summits as well….reports Asian Lite News On Monday, India once again withheld its support for China’s controversial Belt and Road Initiative

SCO Slams Pahalgam Terror Attack

In the Tianjin Declaration, SCO leaders offered condolences to families of the terror attack victims….reports Asian Lite News Shanghai Cooperation Organisation (SCO) member states strongly condemned the April 22 Pahalgam terror attack,

Modi Targets Nations Backing Terror at SCO summit

The Prime Minister reiterated India’s consistent opposition to terror financing and any support to extremist groups….reports Asian Lite News With Pakistan’s Prime Minister Shehbaz Sharif present, Prime Minister Narendra Modi on Monday

Modi–Putin Camaraderie, Sharif Isolated

As the two leaders engaged in an animated discussion, Sharif stood alone with a grim expression while watching them pass by…reports Asian Lite News Prime Minister Narendra Modi and Russian President Vladimir
Go toTop

Don't Miss

‘A people’s movement can only stem corruption in the Indian society’

Professor K.P. Kannan, a former Fellow and Director of the

‘Centre negating federalism’: AAP to SC

Counsel pointed out that earlier five-judge bench verdicts did not