India is among the top 10 countries in terms of AI readiness.
AI is already transforming industries and beginning to reshape economies and is set to profoundly shape the future of economic growth over the next few years.
However, new research from the Boston Consulting Group (BCG) has revealed that most economies are not ready for AI-driven disruption.
On November 23, the study released shows that more than 70% of the economies included in the study score below average in key areas such as ecosystem participation, skills, and R&D.
BCG’s AI Maturity Matrix offers a comprehensive overview of the AI landscape across 73 economies by focusing on two key aspects.
First, it assesses each economy’s vulnerability to AI-driven changes such as job displacement and industry-wide productivity gains.
Second, it evaluates each economy’s preparedness to deal with AI-associated risks while leveraging its potential to stimulate economic growth.
According to the report, there are six sectors that are most vulnerable to AI-driven transformation: information and communications, high-tech goods, retail, financial services, public services, and automotive manufacturing.
“Readiness” for AI refers to the economy’s ability to effectively implement and integrate AI.
The study measures readiness across the six dimensions that make up BCG’s ASPIRE Index: ambition, skills, policy and regulation, investment, research and innovation, and ecosystem.
