The rapid development of artificial intelligence (AI) technology is transforming various sectors across India, with healthcare leading the charge. According to Joydeep Ghosh, the Deloitte India Life Sciences and Health Care Industry Leader, AI-powered diagnostics, MedTech innovations, and advancements in digital health records are revolutionizing patient care. The importance of these developments cannot be overstated, particularly as India’s exports of surgical consumables and disposables reached USD 1.6 billion during the fiscal year 2022-23, underscoring the country’s strengthening position in the global healthcare market.
Ghosh pointed out, "To realize its full potential, the sector must overcome challenges such as regulatory alignment, workforce training, and infrastructure limitations." He emphasizes the necessity of targeted investments and focused policy advancements to help India rise as a global leader in AI-powered healthcare, significantly enhancing patient outcomes and accessibility.
While progress is evident, the healthcare sector is not alone; the AI revolution is palpable across other domains like finance. A recent LinkedIn report illuminated how generative AI has evolved from being just another buzzword to a pivotal business reality for many Indian organizations. Most business leaders view AI adoption as not just beneficial but necessary for staying competitive.
Yet, there is a significant hurdle: the scarcity of professionals equipped with the requisite AI skills. The report reveals, "Around 54 percent of HR professionals in India report only half, or fewer, of the job applications they receive meet all required and preferred qualifications." This skills gap primarily affects technical and soft skills, hindering many companies from fully leveraging AI technologies.
It was found through the LinkedIn analysis, "The hardest-to-find skills include technical/IT skills such as software development, engineering (44 percent), AI skills (34 percent), and soft skills like communication and problem-solving (33 percent)." Therefore, businesses are becoming increasingly selective with their hiring processes, with more than half of HR professionals stating they would only hire candidates who meet over 80 percent of job qualifications.
The urgency to rectify the skills gap is evident, with LinkedInd's Ruchee Anand, India Country Head of Talent & Learning Solutions, articulately stressing the need for companies to adopt a skills-first approach to hiring: "Too often, companies pour resources to adopt AI tools without the right talent to fully exploit their potential." Anand suggests investing in employee training for AI capabilities will be key to bridging the skills gap and improving adoption speeds, as nearly half of Indian leaders affirm such investment will significantly aid AI integration.
Despite the recognition of these challenges, the government's initiative to stimulate AI innovation remains palpable. The government has initiated programs to distribute AI chips to prospective developers, aiming to kickstart innovation among local talent. This proactive approach aims to bolster not just the technology’s development but also skilled employment for the youth.
Nevertheless, experts caution about India's position compared to global counterparts like the United States and China. America boasts advancements such as ChatGPT, with China not only advancing technology butalso territorial disputes with India. Nonetheless, the optimism surging within the Indian tech ecosystem cannot be dismissed. With innovative minds coming up with AI applications targeting various aspects of life and business, there is hope for India to shape its identity as part of the global AI narrative.
Creative proposals are cropping up too, with humorous takes on AI functionalities like Cover-Up Machi, which humorously imagines the ability to erase unwanted internet references at the command of its users. Such satire reflects the innate creativity within the Indian public as it responds to the rising AI influence and its potential impact on society.
For India to successfully cultivate its AI ecosystem and compete on the international stage, substantial investments must be made not just for technology but for the foundation—its people. Strategic policy reforms, improved infrastructure, and focused workforce training will be the trifecta needed to push India forward.
The path is neither easy nor certain, but the concerted efforts from both private sectors and government will be pivotal as India seeks to navigate the rapidly advancing digital frontier. With its youthful workforce and potential market size, the nation stands at the brink of redefining its technological future, driven by AI and human ingenuity.