India’s IT sector is on the cusp of a revolutionary transformation, driven by the rapid growth of the AI in semiconductor market. According to the latest reports, the global AI market is expected to reach a staggering USD 4.8 trillion by 2033, with India’s own AI market expected to reach USD 28.8 billion by 2025. This exponential growth is fuelled by the increasing adoption of AI technologies across industries, including banking, financial services, and insurance (BFSI).
A Silent Revolution Unfolds Internally
While the focus has largely been on AI-driven customer innovations, a quiet revolution is taking place internally. As India’s e-commerce market is expected to reach USD 345 billion by FY30, the demand for seamless operations and efficient customer service is skyrocketing. This pressure is driving the need for AI-powered solutions to streamline backend processes, manage employee queries, and handle tech issues.
A Mixed Bag for India’s Leading IT Services Companies
The first quarter of Fiscal Year 2025-26 has presented a mixed bag for India’s leading IT services companies – TCS, Wipro, Infosys, Tech Mahindra, and HCLTech. While there have been pockets of strong deal wins and a growing emphasis on AI, persistent macroeconomic uncertainties have led to cautious client spending and subdued revenue growth. This underscores the need for strategic planning and AI-driven innovation to stay ahead of the curve.
BFSI’s AI Imperative
A recent report reveals that only 27 per cent of BFSI companies are prepared for the transition towards an AI-led era, despite 93.3 per cent considering data to be critical and 78 per cent actively exploring generative AI. This highlights the need for AI adoption in the BFSI sector to stay competitive and deliver exceptional customer experiences. By leveraging AI-powered solutions, BFSI companies can streamline operations, improve decision-making, and enhance customer satisfaction.
A Call to Action
As India’s IT sector embarks on this AI-driven journey, it is essential to prioritize strategic planning, innovation, and talent development. With the demand for AI professionals expected to reach nearly one million by 2026, India must invest in education and training programs to upskill its workforce. By doing so, India can unlock the full potential of the AI in semiconductor market and emerge as a global leader in AI innovation.
Originally published on https://timestech.in/ai-in-semiconductor-market-soars-toward-us-321-66-billion-by-2033/
Originally published on https://timestech.in/ai-in-semiconductor-market-soars-toward-us-321-66-billion-by-2033/
