54% of Indian firms implemented AI, analytics for business functions: Report

About 54 per cent of Indian companies have implemented artificial intelligence (AI) and analytics for business functions, a new report showed on Tuesday.

According to global consultancy firm PwC, digital champions from across the six sectors in India believe that being resilient, transparent and sustainable will prepare them for future growth.

However, they believe that greater innovation and faster time to market will help them remain competitive in the coming days.

“Organisations are focusing on improving the efficiency of processes, such as reducing the downtime of assets, minimising the maintenance cost of expensive equipment, cutting down the cost of poor quality by understanding the parameters needed for the golden batch using digital twins, automation of processes like connected workstations using IoT for better visibility at the shop floor and workflow-based automated solution for efficient scheduling,” said Sudipta Ghosh, Partner, Industrial Products Sector and Data and Analytics Practice Leader, PwC India.