Only AI can benefit economy by $500 billion: Google India

Google India has said that the use of Artificial Intelligence (AI) alone can add $500 billion to the Indian economy. Also, it can help in better forecasting floods and detecting disease. Sanjay Gupta, regional manager and vice-president of Google India, said at an event that the company would spend $10 billion to expand its digital reach in India.

He said, “The company has used all the resources it has to deal with the challenges created by the Covid-19 epidemic and take advantage of the opportunities.” Google recently added 7.73 percent to Reliance Industries’ digital subsidiary Jio Platforms and acquired a stake. Both companies have also announced to make an entry-level affordable smartphone.

Data consumption boom

Gupta said that during the Covid-19 pandemic, data consumption has increased from 8 GB to 14 GB every month. He said the average consumption in 2014 was just 86 MB per month. Gupta also said that by 2022 the UPI transaction will reach one billion daily, which is now around one billion every month.