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India ranks fifth in the world for GenAI inventions but reports highest growth
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In the last decade, from 2014 to 2023, India has seen the highest average annual growth in generative artificial intelligence (GenAI) innovation, a study by the United Nations has found. The “WIPO Patent Landscape Report on Generative AI” report further showed that India ranks fifth in the number of GenAI inventions from a country with 1,350 inventions. With close to 40,000 inventions, China leads the race almost six times more than second on the list – the US, followed by Republic of Korea, and Japan.
Overall, 4,000 GenAI-related inventions were filed in this period, along with 75,000 scientific publications published. In 2023 alone, over 25% of all the GenAI patents were published and 45% of all GenAI scientific papers were published. Image and video data dominate GenAI patents, followed by text and speech/music.
Notably, an EY report in May found that Gen AI could boost India's GDP by $359-438 billion by 2030, representing a 5.9-7.2% increase. Over seven years, the cumulative impact could reach $1.2-1.5 trillion, adding 0.9-1.1% to annual growth.
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Given the rapid growth and impact of technology in the country, the Ministry of Electronics and Information Technology (MeitY) launched the 2-day Global IndiaAI Summit on July 3, 2024. Inaugurated by IT minister Ashwini Vaishnaw, this saw dignitaries like Jitin Prasada, Minister of State for MeitY, S Krishnan, MeitY Secretary, and NASSCOM President Debjani Ghosh in attendance. In his speech, Vaishnaw said that while AI is a major tool for problem-solving, there is a simultaneous need to contain associated risks, solutions for which will come through a global approach.