Top 500 Indian companies require one million hours to train employees on AI: Report

According to a recent report titled “AI in India – A Strategic Necessity,” the top 500 companies in India are in need of 1 million hours of training to upskill their mid and senior level management on various aspects of artificial intelligence, digital transformation, and agile work methodologies.

The report was jointly published by the Brij Disa Centre for Data Science and Artificial Intelligence (CDSA) at the Indian Institute of Management Ahmedabad (IIMA) and BCG X, the AI and Digital Transformation unit of the Boston Consulting Group (BCG).

Further, its findings are based on an in-depth study conducted on 130 companies operating in the banking, financial services, insurance (BFSI), consumer goods (CG), and industrial goods (IG) sectors. The research involved comprehensive surveys and interviews with Chief Experience Officers (CXOs) representing large-sized, medium, and small organisations.

The report emphasises the significance of organisation-wide commitment for a successful AI-driven transformation. It states that while algorithms contribute only around 10 percent to the success of AI adoption, data and technology infrastructure account for an additional 20 percent. The remaining 70 percent of success relies on people, processes, and business transformation.

The outcomes of the report provide valuable insights into the landscape of corporate AI adoption in India and outlines roadmaps for AI implementation. It highlights that certain companies in the Indian banking, financial services, and insurance (BFSI) sector, particularly banks and new-age non-banking financial companies (NBFCs), exhibit a high level of AI maturity comparable to global leaders in the field.