Global business Meta has formed a strategic partnership with technology industry organisation Nasscom to unveil a white paper on the potential of AI for micro, small, and medium enterprises in India. Titled ‘Empowering India’s Growth: Unlocking AI’s Potential for Tech-Enabled MSMEs’, the paper notes that 94% of tech MSMEs acknowledge the ability of AI to boost business growth.
“MSMEs, pivotal to India’s economic engine, are at a critical point in today’s fast-evolving tech landscape,” said Nasscom’s senior vice president and chief strategy officer Sangeeta Gupta in a press release. “Integrating AI offers them a unique chance for unprecedented growth, increased productivity, and sustainable innovation. Ecosystem collaboration, coupled with access to user-friendly tools and resources, is essential for tech-enabled MSMEs to harness AI’s full potential and for India to maximise its AI dividends.”
According to the white paper, 87% of surveyed tech MSMEs are confident about the potential of AI to increase overall productivity. Moreover, 72% of tech MSMEs feel the need for training programmes on AI in their workplace. Many fashion and beauty brands in India have notably been using AI to introduce new ways of trying on and finding products online.
“As the backbone of the Indian economy, empowering MSMEs with cutting edge business solutions is pivotal for the growth of the country,” said Meta’s India vice president Sandhya Devanathan. “With its massive developer base and the third largest startup ecosystem in the world, India is going to be a driving force in the global AI revolution. Meta has been committed to creating an ecosystem for MSMEs to thrive, and our joint efforts with nasscom focus on equipping MSMEs with the necessary tools and knowledge to unlock the full potential of AI.”
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