Potential for SMEs to contribute up to 50% of GDP through AI, tech transformation: OfBusiness

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Technology powered by artificial intelligence and machine learning can increase small and medium enterprises (SME)’ contribution to India’s GDP to about 50% from the present 30%, according to B2B commerce and fintech startup OfBusiness. Artificial intelligence and machine learning can also enhance employment from 110 million to 175 million, particularly in tier-2 and tier-3 cities, it said.

“AI and technology transformation can scale-up SMEs production and then reach to 50% contribution to the GDP from the current 30%, and enhancing employment from…



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Potential for SMEs to contribute up to 50% of GDP through AI, tech transformation: OfBusiness


Technology powered by artificial intelligence and machine learning can increase small and medium enterprises (SME)’ contribution to India’s GDP to about 50% from the present 30%, according to B2B commerce and fintech startup OfBusiness. Artificial intelligence and machine learning can also enhance employment from 110 million to 175 million, particularly in tier-2 and tier-3 cities, it said.

“AI and technology transformation can scale-up SMEs production and then reach to 50% contribution to the GDP from the current 30%, and enhancing employment from…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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