New Delhi: India remains at the forefront of digital advancements, with increasing investments expected in artificial intelligence (AI), big data analytics, and cybersecurity, as per a recent report from NASSCOM released on Monday. The study involved 550 enterprises from 11 different sectors across seven geographical regions.
The report named “Digital Enterprise Maturity 5.0: Digital Readiness in the Era of AI” reveals that 71% of Indian companies have spent over 20% of their technology budget on digital initiatives in 2023.
Showcasing upcoming trends, the report indicates that almost 90% of companies plan to increase their investments in important digital technologies in 2024. This includes areas like AI/machine learning, big data analytics, cloud computing, cybersecurity, and intelligent automation.
Furthermore, the report predicts that cybersecurity will become increasingly important by the first half of 2025. This shift is a reaction to the growing use of generative AI, which became a notable technology trend in 2023.
83 per cent of companies are dedicating more than 6 per cent of their employees to digital jobs, NASSCOM stated, stressing on how these advancements affect hiring.
The report also sheds light on industries experiencing a rise in contracts for digital services, like banking and financial services (BFSI), telecommunications, media and entertainment, high-technology, and discrete manufacturing, as well as energy, utilities, and alternative sectors.
India remains the top choice for businesses who are looking to enhance their digital services, with over half of the companies in sectors like travel, telecom, media, and construction preferring India for their outsourcing requirements.
Additionally, the report shows that about 47-49% of companies in telecom, media and entertainment, discrete manufacturing, and energy and utilities sectors send their digital services tasks to their capability centres in India.
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