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AI and ML Lead Deeptech Adoption: Nasscom Examine

Deeptech has the potential to disrupt varied industries and sectors

Deeptech is a time period that refers to the usage of superior applied sciences akin to synthetic intelligence (AI), machine studying (ML), massive knowledge, cloud computing, the Web of Issues (IoT), blockchain, robotics, and extra to resolve complicated issues and create progressive options. Deeptech can disrupt varied industries and sectors, akin to healthcare, training, agriculture, finance, manufacturing, and extra.

In response to a latest report by Nasscom and EY, titled “India’s DeepTech Begin-ups – The Subsequent Huge Alternative,” India has witnessed important progress within the variety of deeptech startups up to now few years. The report states that the deeptech startup base in India has grown at a compound annual progress fee (CAGR) of over 40% since 2017, reaching over 2,000 startups in 2021. The report additionally states that the funding raised by deeptech startups has doubled since 2017, reaching over US$3 billion in 2021.

The report additional reveals that AI and ML are essentially the most leveraged deeptech by Indian B2B SaaS (software-as-a-service) firms, accounting for 54% of the use instances. Huge knowledge and descriptive analytics observe with 39% of the use instances, whereas clever automation accounts for 7%. The report additionally identifies the important thing sectors adopting deeptech options, akin to enterprise, healthtech, fintech, industrial, and manufacturing.

The report highlights the advantages of deeptech for Indian B2B SaaS firms, akin to enhancing buyer expertise, bettering operational effectivity, rising income progress, and making a aggressive benefit. The report additionally means that breakthrough Indian B2B SaaS firms, who’re ingenious and deeptech-focused, can doubtlessly unlock sustained CAGR of 30-50% in common recurring income (ARR).

The report additionally outlines the important thing challenges and alternatives for deeptech startups in India, akin to entry to expertise, funding, mentoring, partnerships, and collaborations. The report additionally supplies suggestions for varied stakeholders, akin to authorities, trade associations, academia, traders, corporates, and startups, to foster a conducive ecosystem for deeptech innovation in India.

The report concludes by stating that deeptech has the potential to profoundly propel India’s rising digital financial system by making a seismic transformation throughout all aspects of the nation’s narrative. The report additionally states that India can change into a worldwide chief in deeptech innovation by leveraging its strengths in expertise, market dimension, and entrepreneurial spirit.