India’s AI spend to grow 30% by 2023: IDC

India’s AI spend will grow from $300.7M in 2019 to $880.5M in 2023 at a compound annual growth rate of 30.8%, said an IDC report. 50% of Indian enterprises plan to increase their AI spend this year. However, data trustworthiness and difficulty in selecting the right algorithm, are some of the top challenges that hold them back from implementing AI tech. Organisations are now realising that their business plans must be closely aligned with their AI strategies.

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