In recent years, India has risen as a prominent player in the global Artificial Intelligence (AI) market, marked by a promising and rapid growth. This trend holds the potential to reshape ecosystems, influencing decision-making and opening new avenues for advancement. The strategic establishment of AI in India, particularly its national debut in May 2020, has set the stage for transformative developments across diverse sectors, including Agriculture, Healthcare, and Education.
In 2022, India's AI market size was estimated at USD 672 million and it has been said that the size may grow at a compound annual growth rate of 32.26%, reaching a value of USD 4 billion by 2029. According to a World Economic Forum report, AI expenditure in India is expected to reach $11.78 billion by 2025 and add $1 trillion to India's economy by 2035.
The diffusion of AI across various sectors bears the promise of catalyzing India's prospects. Businesses, for instance, stand to gain from streamlined operations as AI adoption reduces costs, enhances efficiency, and fortifies customer service.
Moreover, as AI gains ground in India, its academic institutions are assuming a pivotal role in nurturing the AI talent. The younger generation too holds a vital position as they embrace robotics as a critical tool for experiential learning, underscoring the integration of technology into education. The impact of this research extends far beyond national borders. If shared on an international scale, its outcomes have the potential to benefit millions of students worldwide. However, challenges await India's government and institutions in the realm of AI. The country's rich cultural diversity, coupled with generational divides, could pose hurdles to the widespread acceptance of technological transformations.
Despite these challenges, India's progress in recent years is undeniable. The influx of international and national investments into the AI sector speaks to the nation's growing significance in the field. The Indian government's recognition of AI's importance has spurred further encouragement for businesses to invest in AI-driven initiatives. This synergy of startups, academic institutions, and governmental initiatives solidifies India's commitment to making substantial contributions to the advancement of AI. In the realm of problem-solving, AI-powered solutions offer a powerful tool to address a myriad of social, economic and political challenges, significantly enriching educational experiences. AI, however, holds the promise of more than just problem-solving. Unlocking the full potential of both the private and public sectors could transform AI into a game-changing technology, redefining conventional paradigms.
As India continues its forward march in the realm of AI, a brighter future beckons, especially for the younger generations. By leveraging AI's potential, India aspires to create a landscape where technology and innovation coalesce to form a powerful engine of progress.
While India makes significant strides, Pakistan is embarking on its own AI journey, aiming to revolutionize industries and foster innovation. Currently, according to a State of AI Report, Pakistan ranks 117 out of 172 countries and has an index score of 34.03 in terms of AI readiness at a global scale. Keeping this scenario in view, the Ministry of Information Technology and Telecommunication has drafted the “National Artificial Intelligence Policy,” aimed at embracing AI by appreciating human intelligence and stimulating a hybrid intelligence ecosystem for equitable, responsible, and transparent use of AI.
Pakistan faces certain challenges that warrant attention. Infrastructure constraints present a hurdle in the seamless integration of AI technologies across the nation's landscape. Additionally, while the aspiration is high, the shortage of AI experts poses a challenge to the swift realization of AI-driven ambitions. Addressing these obstacles is crucial for Pakistan to effectively leverage AI's potential and ensure its benefits reach all corners of society.
In the global context, both India and Pakistan are at crucial junctures. Their respective trajectories in harnessing the power of AI will undoubtedly shape their prospects, economies, societies, and education for generations to come.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 23, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||372.5||376|
|Hong Kong Dollar||HKD||37.93||38.28|
|New Zealand Dollar||NZD||174.23||176.23|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 215,800 on Saturday. The price of 10 grams of 24k gold was recorded at Rs185,020.
Likewise, 10 grams of 22k gold were being traded for Rs170,068 while a single tola of 22-karat gold was being sold at Rs198,365.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 215,800||PKR 2,565|
|Karachi||PKR 215,800||PKR 2,565|
|Islamabad||PKR 215,800||PKR 2,565|
|Peshawar||PKR 215,800||PKR 2,565|
|Quetta||PKR 215,800||PKR 2,565|
|Sialkot||PKR 215,800||PKR 2,565|
|Attock||PKR 215,800||PKR 2,565|
|Gujranwala||PKR 215,800||PKR 2,565|
|Jehlum||PKR 215,800||PKR 2,565|
|Multan||PKR 215,800||PKR 2,565|
|Bahawalpur||PKR 215,800||PKR 2,565|
|Gujrat||PKR 215,800||PKR 2,565|
|Nawabshah||PKR 215,800||PKR 2,565|
|Chakwal||PKR 215,800||PKR 2,565|
|Hyderabad||PKR 215,800||PKR 2,565|
|Nowshehra||PKR 215,800||PKR 2,565|
|Sargodha||PKR 215,800||PKR 2,565|
|Faisalabad||PKR 215,800||PKR 2,565|
|Mirpur||PKR 215,800||PKR 2,565|