Industry News

EY Announces the Launch of Its First Artificial Intelligence Center in India

EY announced its plans to step in the field of artificial intelligence and enhance its suite of automation by opening its first AI center in India

India: The AI center will help EY, a multinational professional services firm headquartered in London, United Kingdom to meet its purpose of “building a better working world”, by assisting businesses to become more innovative and reach its maximum potential by capitalising on emerging technologies in order to operate more efficiently, manage risk and inspire confidence.   

Milan Sheth, Partner – Advisory Services and Technology Sector Leader, EY India, said, “The Center will help organisations find new ways to deploy new technologies across a range of functions in their business environment and build a more digital workforce of the future.”

According to Sheth, “artificial intelligence is already being deployed across industries such as automotive, telecom and technology. The launch of the AI Center, he says, aims to lead the next step of this transformation journey by helping enterprises combine AI’s autonomous reasoning with systemized learning opportunities.”

TechSci Research depicts that the adoption of artificial intelligence in India would open doors to new ways of innovation, consequentially, with the growth in the technology sector and increasing usage of IOT coupled with the robust pace of innovations by the large & medium enterprises would propel the global market for artificial intelligence during the forecast period.

According to a report published by TechSci Research, “Global Artificial Intelligence Market By Application, By End User, By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global market of artificial intelligence is anticipated to grow at a CAGR of over 60% during 2017 – 2022. On the basis of application, global artificial intelligence market has been broadly segmented into image recognition, natural language processing, speech recognition, gesture control & others. Among these categories, image recognition dominated global artificial intelligence market in 2016, and the segment is expected to maintain its dominance over the next five years as well.

Relevant News