According to a recent survey, India has adopted AI technologies at a rate higher than the global average.

A recent study by the Boston Consulting Group (BCG) found that 30% of Indian businesses are using this new technology to maximize value.

India has adopted artificial intelligence (AI) at a rate higher than the worldwide average, according to a recent study by the Boston Consulting Group (BCG). Additionally, it stated that Indian businesses are making the most of cutting-edge AI technologies.

A study of 1,000 Chief Experience Officers (CxOs) and senior executives from more than 20 industries in 59 countries across Asia, Europe, and North America served as the basis for the report, "Where's the Value in AI?" Up to ten significant industries were also addressed in the study.

With 30% of Indian businesses having fully realised AI's value potential—beating the global average of 26%—India's rapid adoption of AI is redefining its competitive edge globally. According to Saibal Chakraborty, India Leader, Technology and Digital Advantage Practice, BCG, "India stands out for its readiness to harness AI's potential, with 100% of companies actively experimenting with it."

According to the study, India's AI leaders have a wide range of maturity that spans both the traditional and digital domains. This might result in the production of value outside of the usual tech-driven sectors.

"India is positioned to lead not only in AI adoption but also in producing significant and quantifiable value as its AI leaders go beyond productivity to reshape and invent new business models," Chakraborty added.

With software, fintech, and banking using more AI-based applications in their day-to-day operations, the global adoption rate for AI is 26%.

Regarding functions, only 4 percent of businesses worldwide have advanced AI capabilities that produce substantial value. Research indicates that although 22% of businesses have adopted an AI strategy, 74% of them have not yet demonstrated any real benefits from using AI.

According to the study, after years of funding, recruiting, and starting pilot projects, CEOs around the world are looking for measurable results from AI technology. Realizing these technologies' full potential is still challenging, though.

Only 26% of businesses were able to get beyond proofs of concept and provide real value, according to the survey, despite the extensive use of AI-based programs across industries.