Communicate To Collaborate
22 in India

94% of Indian Tech MSMEs Recognize AI’s Growth Potential: Nasscom-Meta Report

2 weeks ago
thedialog
9
Indian Tech MSMEs Recognize AI's Growth

Photo Credit: Pexels.com

 

A recent report by Nasscom and Meta reveals that an overwhelming 94% of tech micro, small, and medium enterprises (MSMEs) in India believe in the power of artificial intelligence (AI) to fuel business growth.

Furthermore, 87% of these businesses are confident in AI’s capacity to enhance overall productivity.

 

Broad Support for AI Training

The report, presented in a white paper by Nasscom with support from Meta, highlights that approximately 72% of tech MSMEs stress the necessity for AI training programs for their employees. This indicates a strong demand for skill development in the AI domain.

 

Strategic Partnership

Meta, formerly known as Facebook, has partnered strategically with Nasscom to shed light on the current AI adoption journey among India’s tech MSMEs. This collaboration aims to foster an environment conducive to AI integration within the sector.

 

Key Insights and Industry Perspectives

Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at Nasscom, emphasized the importance of ecosystem collaboration. She stated, “Ecosystem collaboration, coupled with access to user-friendly tools and resources, is essential for tech-enabled MSMEs to harness AI’s full potential and for India to maximize its AI dividends.”

The survey also found that 48% of respondents believe in AI’s potential in content creation and marketing, 46% in customer engagement, and 68% in developing new products and services.

 

India’s Role in the Global AI Revolution

India’s significant developer base and its status as the world’s third-largest startup ecosystem position the country as a key player in the global AI revolution.

 

Sandhya Devanathan, Vice President (India) at Meta, expressed Meta’s commitment to this cause. “Meta has been committed to creating an ecosystem for MSMEs to thrive, and our joint efforts with Nasscom focus on equipping MSMEs with the necessary tools and knowledge to unlock the full potential of AI,” she said.

 

Challenges in AI Adoption

Despite the optimism, the white paper also outlined considerable challenges faced by tech MSMEs in leveraging AI for sustainable growth. A major hurdle is the awareness gap, with 65% of tech MSMEs struggling due to limited knowledge about available tools and resources.

Additionally, 72% highlighted the crucial need for AI training programs to aid in skill development and facilitate AI adoption.