Over Half of Indian Businesses Practice Responsible AI, Nasscom Study Finds

India's IT industry representative, Nasscom, has found that a significant majority of businesses in the country have started implementing responsible AI (RAI) measures. A survey by Nasscom revealed that approximately 60% of companies are either operating with mature RAI practices or are beginning to adopt formal RAI strategies.

Initial Steps Towards Ethical AI

The research, which included over 500 senior executives from various industries, indicates that 30% of businesses possess a basic understanding of RAI's importance, though they lack a structured approach. This suggests a growing trend of AI ethics consideration among Indian enterprises.

The movement towards RAI is more pronounced in larger companies. Enterprises with annual revenues exceeding Rs 250 crore are reporting adoption of RAI practices at a rate 2.3 times higher than startups and 1.5 times greater than small and medium-sized enterprises (SMEs).

Diverse Industry Adoption

Looking at industry-specific adoption, the banking, financial services and insurance (BFSI) sectors, along with technology, media and telecom (TMT), and healthcare, are leading the charge. About two-thirds of companies in these sectors are working towards RAI, either by establishing robust practices or by initiating concrete steps toward such practices.

Businesses Commit to RAI Investment

Among those with developed RAI practices, a significant 89% are committed to ongoing investments in raising awareness and training for RAI compliance among their workforce.

Nasscom's President, Debjani Ghosh, highlighted the dual nature of AI's rise, bringing with it both opportunities and challenges. The increased conversation on ethical AI has emphasized the importance of building trustworthy AI systems that assure brand integrity and foster long-term stakeholder relationships.

For RAI to succeed, a company's leadership must be involved. The Nasscom survey found that 69% of participants believe that accountability for RAI compliance should predominantly rest with senior management, including the C-suite and board directors.

RAI, Nasscom, India