60% businesses in India have responsible AI practices- Nasscom

60% businesses in India have responsible AI practices: Nasscom

Around 60% of businesses surveyed by IT industry body Nasscom reported having matured responsible AI (RAI) practices and policies in place or having taken formal steps towards RAI adoption.

Also, 30% of businesses reported basic awareness of RAI imperatives without a formal strategy, a Nasscom report revealed on Tuesday. The report is based on analyses of data collected via a survey of 500+ senior executives from across large enterprises, SMEs and startups engaged in the commercial development and/or use of AI in India. The report highlights the tech industry’s perceptions about its key strengths and critical areas for improvement as far as RAI adoption is concerned.

Around two-thirds of businesses in sectors like BFSI (banking financial services and insurance), TMT (technology, media and telecom) and healthcare reported having either matured RAI practices or having initiated formal steps towards RAI adoption.

The survey findings also show that 89% of businesses that reported matured RAI practices and policies also reported commitments to continue investments in workforce sensitisation and training for RAI compliance.

Debjani Ghosh, president, Nasscom, said, “2023 was undoubtedly the year of AI and brought to the fore both opportunities and risks central to AI adoption. It also spurred discussions on the need for ethical and responsible AI and its pivotal role in solidifying brand integrity and nurturing enduring relationships with stakeholders. Insights from the survey are anticipated to catalyse the creation of stronger industrial policies and strategies aimed at ensuring compliance with RAI.”

Leadership support is crucial for successful RAI adoption and businesses lean towards top-down accountability for RAI compliance. The survey showed 69% of the respondents suggested the major share of accountability for RAI compliance should lie with the C-suite or board of directors at their companies.