Nasscom Reports: Responsible AI Practices Adopted by 60% of Businesses in India

27 Dec, 2023

Nasscom Reports: Responsible AI Practices Adopted by 60% of Businesses in India

A recent report from Nasscom, a prominent IT industry body, unveiled that approximately 60% of businesses surveyed have established mature practices in Responsible AI (RAI) or have formally initiated steps towards its adoption. Conversely, about 30% of these businesses possess only a basic awareness of RAI principles without implementing a formal strategy, as per the report released on Tuesday.

The comprehensive report is a result of data analysis drawn from a survey encompassing over 500 senior executives. These executives represent a spectrum of enterprises, including large corporations, SMEs, and startups actively involved in AI's commercial development or usage within India. The report extensively explores the tech industry's perspectives on its strengths and areas demanding improvement in RAI implementation.

The findings accentuate that larger enterprises, particularly those with annual revenues exceeding Rs 250 crores, are notably more inclined towards mature RAI practices. They are approximately 2.3 times more likely than startups and 1.5 times more likely than SMEs to exhibit such practices.

In specific sectors like BFSI, TMT, and healthcare, around two-thirds of businesses report either matured RAI practices or the inception of formal steps toward RAI adoption.

Furthermore, the survey highlights that 89% of businesses showcasing mature RAI practices also demonstrate commitments towards ongoing investments in workforce training and sensitization to ensure RAI compliance.

Debjani Ghosh, President of Nasscom, emphasized the significance of AI in the year 2023. She stressed the need for ethical and responsible AI adoption, considering the associated opportunities and risks. Ghosh anticipates that insights gleaned from the survey will serve as a catalyst for formulating robust industrial policies and strategies aimed at ensuring RAI compliance.

The survey underscores the crucial role of leadership support in successful RAI adoption. Approximately 69% of respondents advocate for top-down accountability, suggesting that C-suite executives or the board of directors within their respective companies should primarily shoulder the responsibility for RAI compliance.