Technological innovations are redefining India’s Digital Economy
Machine Learning is one subset of artificial intelligence which enables machines to learn from experience.
India is one of the fastest growing major economies today with a lot of prospects and promises. With an impressive growth rate of 7.4%, the country continues to attract investments from all corners of the world. Among the various flourishing economic sectors, the digital industry is performing exceptionally well. Today the digital economy of India generates about 200 billion USD and is expected to touch a trillion USD by 2025. There are several factors influencing the growth of India’s digital economy and undoubtedly one among them is the country’s rapid adaptation of next generation innovative technologies like Machine Learning (ML).
Machine Learning and its ability to transform businesses.
Machine Learning is one subset of artificial intelligence which enables machines to learn from experience. ML models are designed in such a manner that the systems are able to learn automatically from the previously fed data and can be programmed to look for specific patterns from a massive pool of data. Business organizations use ML models for various purposes such as—
• Automation of mundane tasks so that human resource can be utilized for more creative tasks.
• Helping to recognize potential markets and tap opportunities which would have been overlooked.
• ML models can dig out important insights from a sea of otherwise useless data and therefore business executives utilize it to make informed decisions.
How does India stand to gain from ML?
India is one of the biggest markets in the world with a huge population. And with 627 million internet users, sectors like the ecommerce are growing at a phenomenal rate. Yet much of the market potential remains unexplored and only with the help of cutting edge technologies like ML, businesses in the digital space can perform at the expected level. Many companies like flipkart and Reliance are taking advantage of advanced ML models and the results are better than expected.
The government of India too recognizes the potential of advanced technology and is encouraging the nation to increasingly adopt such technologies. Digital transformation is the mood of the entire country and many young graduates are going for a career in ML in cities like Bangalore and Hyderabad which are known for their flourishing IT industry.
A Machine Learning Institute in Bangalore offers a good industry exposure and promises great opportunities.
Employment scenario in India’s digital industry.
India’s digital industry is turning out to be a massive employment generator. As more businesses adopt AI and Ml, the demand for skilled professionals grows rapidly. However, there is a skill gap in India and positions are going vacant. Getting trained from a Machine Learning Institute in Bangalore or in Hyderabad will open a sea of opportunities for any one.