New Delhi: Only 10 per cent of Indian CEOs are confident about the reliability of their artificial intelligence (AI) applications, according to PwC India.
Even as AI has the potential to solve complex problems effectively at scale, badly designed applications can cause more harm than good, PwC India said in its report based on a comprehensive study conducted with over 1,000 CXOs and business decision makers from India and other regions, between May and September 2019.
The intent of the study was to understand the outlook towards AI in India. Findings of the report strongly indicate the need to invest in building AI systems that are responsible, understandable and ethical, ensuring customer trust.
AI can be defined as a collection of technologies which are capable of sensing, thinking and acting like rational human beings.
The respondents spanned across industries such as technology, media and telecom, financial services, professional services, health, industrial products, consumer markets, government, and utilities, said PwC India.
"An overwhelming majority of decision makers globally as well as from India confessed that they may not have robust tools or processes for ensuring reliability of their AI solutions.
"Interestingly, only 10 per cent of Indian respondents were confident about the reliability of their AI applications," it said.
Deepankar Sanwalka, Leader- Advisory at PwC India, said that it is encouraging to see Indian organisations adopt or willing to adopt AI significantly in the coming few years.