Artificial Intelligence (AI) is something which has a very huge role in today’s fast forward world.With time, many nationsare racing to achieve a global innovation advantage in artificial intelligence (AI). This competitiveness has mainly highlighted UK & Europe, lagging behind in AI as compared to China and USA, despite having a strong industrial base.
This article will be focusing on AI industry in the UK & Europe market compared to China and USA. For this, we first need to know:
What can be the basis of this national competitiveness?
Competition in AI can be measured in terms of:
- Measure of capacity to develop AI
- Measure of capacity to deploy AI
According to the recent report ofBoston Consulting Group published on June 2020, EU lags behind China and USA in major terms. The survey analysis shows that in terms of AI competitiveness, countries can be further categorized into four groups: champions, aspiring leaders, labs, and underperformers. Analysing and considering all the categories we can conclude why China and USA excels and UK & EU lags.China excels in commercializing AI because the size of its economy creates a large market for such applications. In addition, coordinated government support has resulted in the rise of an adequate number of industrial ecosystems. Moreover, EU companies and industries aren’t AI ready. They trail those in China and in the US in terms of digitization. One reason is the lack of direct pull from digital ecosystem orchestrators. Access to data also remains fragmented in the EU, and although language differences play a part,also the EU’s computing foundations are weaker than China’s. Most of the world’s quantum computing companies, cloud service providers, and chip manufacturers aren’t based in member countries. By comparison, the EU has struggled to successfully commercialize AI at scale.
India is on the cusp of transforming from outsourcing destination to data solution destination
India has the largest pool of talented people and it is what drives the business to the country. There are almost over 200,000 IT graduates added in the workforce annually. As businesses have expanded globally, outsourcing relationships have undergone a sweeping change. There are many reasons why innumerable countries are outsourcing their projects to India, some are given as following:
- Software Industry size
- Skilled workforce and Best Companies
- Round the clock services
- Cost effectiveness
- Massive support from Indian Government
There is a long list of services that IT companies outsource from India nowadays, for example Web development services, Mobile application development services, Enterprise solutions, Product development, Digital marketing solutionsetc. With increased globalisation, India has managed to evolve as the best data solution destination. Many big companies like Amazon, Adobe, WNS, Google, IBM etc. have a major workforce of Indian employees as well.
In a recent survey conducted in the US, 82% of US–based companies have voted for India as their first and most preferred choice for software outsourcing. Though there are other countries as well, for example Philippines and China offering low-cost services, but the talent rich India provides unmatchable quality. Also, we can see as per the new job opportunities coming nowadays apart from mere backend-data-entry work, India can now handle complex projects such as Business Intelligence, system integration as well as E-commerce. There are variety of IT jobs now open in India. According to a recent research conducted by the NASSCOM (National Association of Software Services Companies) it has been indicated that India will soon have the world’s highest number of ISO–9000 software companies. Also, India has been ranked the third–best country in Asia, with excellent investment potential. Hence, it will not be wrong to state that India is on the cusp of transforming from outsourcing destination to data solution destination.