Harnessing the Technical Potential of AI, IT and Data Management For Unlocking India’s Economic Success Story

Abstract

India is committed to become a $ 5 Trillion economy by the year 2027. Reaching such a pivotal point of economic success, demand adequate utilization of all the major resources of our nation with effective policy making. Our prudence to optimally channelize India’s demographic dividend along with effective harnessing of the potential’s of AI, Information technology as well as data management can help all the economic sectors to contribute in making India, a $ 5 trillion economy and much beyond. We all are living in the digital world of forth Industrial revolution; where technological innovation keeps on changing so drastically, that nation’s all around the world are racing to become tech giant, so as to gain technological advancement and to yield out economic advancement at last. In such a milieu of technology dynamics, it is mandatory for India as well, to harness the potential of AI and Information technology, to sustain our competitive growth. Maintaining digital and technological strength can be a game changer for us to ensure our economic success. Multiple reports had confirmed that AI alone is expected to add $ 400 billion to India’s GDP by 2025. In fact, “National Strategy for Artificial Intelligence #AIFORALL”, a June 2018 report by Niti Aayog also recognizes AI as an opportunity and a precursor of greater good i.e. social development and inclusive growth. This research paper will shed light on all the major aspects that how, AI, IT as well as Data Management would particularly become a factor for India’s economic success story. The research paper would utilize secondary data sources for this purpose. Like minded newspaper articles, magazine stuff, authentic reports, data analysis and research papers are used to get a broader picture of it.