15 Jun 2021
IDC Report Finds Automated Customer Service Agents was the Top AI Use Case for Indian Organizations in 2020
New Delhi, June 15th, 2021 – International Data Corporation (IDC) has published a new report that provides an overview of the artificial intelligence (AI) use cases and investments made by different verticals in 2020 in India. This annual IDC report feature provides insights on drivers for AI adoption, their holdbacks, and successful case studies across different verticals.
The new report, "Demystifying Artificial Intelligence: How Far Are Indian Enterprises in Their Artificial Intelligence Adoption Journey? ", highlights AI use cases that have gained momentum in India driven by the need to ensure speed of new product development, facilitate better customer experience, improve higher employee productivity, and achieve high competitiveness in the market. This study reviews how organizations across verticals adopt AI for different use cases, the business risk associated with AI adoption, opportunities, challenges, and considerations for vendors to deliver an effective AI experience to the end-user.
Indian organizations are leveraging AI to help them with real-time analysis, providing enhanced experiences, and automation. With AI that supports innovations at scale, delivers enhanced customer experience and improves operational efficiency, organizations will continue to find ways to gain more value from their data and improve overall customer experience.
"According to IDC's FERS Survey*, Wave 1, 62% of organizations in India have plans to increase their AI/ML spend. For 2020, automated customer service agent is the top AI use case, and we are also witnessing other use cases like fraud analysis and investigation, IT automation, recommendation system, and diagnosis and treatment gain momentum," says Rishu Sharma, Principal Analyst, Cloud and AI at IDC India.
The COVID-19 pandemic has accelerated the adoption of intelligent technologies across organizations in India. Businesses today look to develop resiliency through technologies that can help them prepare better for future uncertainties. Increasingly, the need for businesses to collect, process, and leverage data for real-time decisions has resulted in businesses' AI adoption.
"To combat the rising impact of COVID-19 pandemic, organizations have started to re-think their business strategies and move towards intelligent technology adoption. COVID-19 has fueled Indian organizations to accelerate digitization and move beyond AI pilot phase, and start leveraging AI for multiple business functions," says Swapnil Shende Senior Market Analyst, Artificial Intelligence at IDC India.
Industry-wise, IDC is witnessing high spending from verticals like BFSI and manufacturing. The BFSI sector is the leading vertical in AI spending with a 29% share in 2020 (according to IDC's Worldwide Artificial Intelligence Spending Guide, Feb V1 2021) and is exploring multiple use cases varying from fraud analysis and investigation, video KYC, and conversational AI platforms.
"Adoption of AI is no longer a choice it has become a must for enterprises. Adoption of AI technology in core process is giving a cutting-edge by making the business more innovative, agile by refining the information (data collected) and converting that into useful insight to address different business problems more efficiently," says Ashutosh Bisht, Senior Research Manager at IDC Asia/Pacific.
The report, Demystifying Artificial Intelligence: How Far Are Indian Enterprises in Their Artificial Intelligence Adoption Journey? (IDC #AP47365621), showcases how enterprises have started leveraging AI and ML technologies in the course of the pandemic. This report marks the annual edition of the India AI use case study, after the 2020 report (#AP45884520).
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*IDC's Future Enterprise Resiliency and Spending (FERS) Survey
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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
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