A recent survey by the Competition Commission of India (CCI) reveals that 67% of Indian AI startups focus on developing AI-based applications, primarily utilizing open-source technologies, which 76% of respondents cite for their accessibility and cost advantages. The study highlights the transformative impact of AI across various sectors, with 88% employing machine learning (ML), 66% using generative AI models, and 78% leveraging natural language processing (NLP). Key industries adopting AI include banking, healthcare, and e-commerce, utilizing it for customer behavior monitoring, demand forecasting, and pricing analysis. Notably, the findings emphasize that AI enhances productivity and competitiveness, while businesses ignoring AI risk falling behind. Shivanghi Sukumar from Axiom 5 law chambers commended the study, warning of potential algorithmic risks and advocating for fair competition and consumer protection. The CCI prioritizes fostering a competitive AI ecosystem in India to combat anti-competitive practices and ensure innovation thrives.
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