New Delhi
Artificial Intelligence (AI) could add nearly $15.7 trillion to the world economy by 2030, according to a joint report released by FICCI and Boston Consulting Group (BCG) on Wednesday. The study describes AI as the defining technology of the 21st century, shaping future economic and social leadership.
The report highlighted that over 66 per cent of developed economies already have national AI strategies, compared with 30 per cent of developing economies and just 12 per cent of least-developed nations. The global AI race is being driven by four interlinked factors: compute power, data, models, and talent. While the US and China currently lead, other nations still hold significant potential to catch up.
Industries such as financial services and retail are advancing rapidly due to their data-rich environments, but key sectors like agriculture and public services remain behind. Limited infrastructure, unclear returns on investment, and funding gaps hinder progress in these areas.
Despite billions invested globally, the report noted that nearly half of AI pilots fail before reaching production, and only one in eight prototypes is successfully deployed. Barriers include fragmented infrastructure, lack of skilled professionals, and resistance to cultural change within organisations.
FICCI Director General Jyoti Vij said AI must be seen not only as a competition but also as a tool for collective progress. BCG’s Saibal Chakraborty added that adoption challenges are mostly sociological, with 70 per cent of obstacles linked to people and processes rather than technology.