NEW DELHI– Artificial Intelligence (AI) is on track to add nearly $15.7 trillion to the global economy by 2030, making it the defining technology of the 21st century, according to a joint report released Wednesday by FICCI and Boston Consulting Group (BCG).
The report noted that 66 percent of developed economies already have national AI strategies, compared to just 30 percent of developing nations and 12 percent of least-developed countries. The study identified four key dimensions driving the global AI race — compute, data, models, and talent.
While the U.S. and China have emerged as leaders, other economies are advancing in specific areas of AI adoption. Financial services and retail sectors are at the forefront, benefiting from data-rich environments, while socially critical areas such as agriculture and public services lag behind due to limited infrastructure and funding constraints.
“AI is not just a technological wave; it is a strategic race that will define economic and social leadership in the decades ahead,” said FICCI Director General Jyoti Vij. “Together, we can ensure that AI is not just a race for advantage, but a collective pursuit of progress that unlocks value for the world.”
Despite billions in global investments, the report found that nearly half of AI pilot projects are abandoned before reaching production, and fewer than one in eight prototypes are fully deployed. Key barriers include siloed infrastructure, cultural resistance, and a shortage of skilled professionals.
The findings highlighted that 70 percent of AI adoption challenges stem from organizational and process issues rather than technology itself. Companies that prioritize reskilling, cultural adaptation, and workforce empowerment are most likely to achieve meaningful business outcomes.
“There is significant divergence in the global AI race,” said Saibal Chakraborty, BCG Managing Director and Senior Partner. “The majority of developed economies have national AI strategies, while less developed ones are yet to undertake this journey.”
The report concluded that effective integration of AI will depend on both technological capacity and the ability of societies to embrace change, making human adaptability as critical as innovation itself. (Source: IANS)
