India's AI, GenAI spending set to grow 34% to $6 bn by 2027: IDC

The report said over 76% of Indian enterprises either are already focused on GenAI proof of concepts or already have an investment plan in place. Over 40% of service engagements will have genAI-enabled delivery mechanisms by 2025, triggering a shift from human-delivered services for strategy, change, and training.

Meanwhile, the Ministry of Electronics and Information technology started the applications for AI fellowships under the IndiaAI Mission for B.Tech and M.Tech students at the top 50 NIRF-ranked engineering universities. These fellowships are aimed at supporting AI projects, fostering advanced skills and innovation, and strengthening India's AI ecosystem through education, research, and practical application.

The IndiaAI Mission is set to organise the ‘Global IndiaAI Summit’ for July 3-4 in New Delhi this year. The summit will focus on the development of the AI ecosystem, including compute capacity, foundational models, datasets, application development, future skills, startup financing, and safe and trusted AI.