In this Covid19 lockdown situation, where many businesses are working remotely, many are left with no option but to shut the business for sometime(or permanently). During these difficult times, the outsourcing is the new normal. India is among the top IT outsourcing service providers in the world because of it’s high skilled IT people and competitive price.
India is fast becoming the hub for Artificial Intelligence (AI) and Internet of Things (IoT) services. There are enterprises, around the globe, who are seriously considering outsourcing their AI and IoT services to the specialized, flexible and future-oriented software outsourcing companies in India.
Image Source: https://image.freepik.com/free-vector/flat-artificial-intelligence-background_23-2147727506.jpg
Why is India emerging as a leader IT outsourcing choice in AI and other emerging technologies?
India is already known as a leading enterprise software provider on the cloud.
There are many emerging technologies where the acceptance and expertise in India is way higher compared to other countries. There are experts who believe that AI has the potential to increase India’s annual growth by 1.3 percentage and by 2035 it will grow India’s income by 15 percent. There are several AI and emerging technologies leaders, startups, university courses, and large businesses that are booming in India. Clearly, AI, IoT and other emerging technologies are on the rise.
Some of the factors that are clearly establishing India’s leadership in AI and IoT are the number of startups seeking funding and getting funding from foreign investors. There is also an increase in the number of policies around AI in India, for example NITI Aayog (a National Institution for Transforming India) has established a national level AI policy. It focuses on AI research scope, adoption and commercialization. In fact, there are plans, in India, to roll out emerging technologies in healthcare, education and agriculture areas. The Indian Government is planning to leverage AI to grow the Indian economy.
The Indian IT outsourcing industry is experiencing major business partnerships to build innovative products and solutions using next gen technologies.
Why does it make sense to outsource AI and other emerging technologies?
There is clearly a dearth of AI programmers around the globe. The AI adopters are seriously challenged because of the costs associated with it. The fixed costs are quite high. It is critical, to get at par with competitors and meet customer expectations. AI is set to impact all industries profoundly. Legal, Healthcare, Financial, Public Sector and Manufacturing industries aren’t the only ones that have to adopt AI. There are all the others too.
More and more enterprises are keeping budget aside to adopt AI, there is no clear direction. The new roles in the c-suite are fuzzy when it comes to AI or other emerging technologies. There is help needed to bring AI efforts together and not something that is done as standalone efforts in cybersecurity, data analytics and regulatory compliance. There are AI experts in leading software outsourcing companies likes ISHIR to help you understand and define the AI roadmap clearly. There is a roadmap clearly required as most organizations are not sure where to start AI implementation. We have experts who can help you understand the areas like where there are higher number of human errors or where the business has lower than expected margins.
There are enterprises that are not able to go beyond small-scale AI projects as the cost associated with a full-fledged project are quite high if internal team is established.
There is a shortage of AI talent and brainpower. Most of the executives believe that it’s a good idea to outsource as AI skilled or machine learning talent is not only hard to come by but comes at a high cost. It’s important to find people who have worked on Artificial Intelligence(AI), machine learning and IoT projects and have both practical knowledge and the skill at a cost that is not exorbitant.
By: Katie Johns