India has ranked 72 among 174 countries in artificial intelligence readiness, according to a recently published International Monetary Fund report.
India's Preparedness Index score is 0.492 on a scale of 0 to 1.
While Singapore gained first position and scored 0.80, Denmark scored 0.78, and the United States scored 0.77, the report said.
China ranked 31 with a score of 0.6, Sri Lanka ranked 92 (0.43) and Bangladesh ranked 113 scoring 0.38.
The index is based on a set of micro-structural indicators that covers factors such as human capital and labour market policies, digital infrastructure, innovation and economic integration, and regulations and ethics.
India scored 0.11 in digital infrastructure and innovation and economic integration, 0.12 in human capital and labour market policies, and 0.15 in regulations and ethics.
The country's AI market is predicted to reach $8 billion by 2025, according to the International Trade Administration.
In the IMF article, Economist Giovanni Melina said though AI is poised to reshape the global economy, it could also threaten 33 per cent of jobs in advanced economies, 24 per cent in emerging economies, and 18 per cent in low-income countries.
"But, on the brighter side, it also brings enormous potential to enhance the productivity of existing jobs for which AI can be a complementary tool and to create new jobs and even new industries," Melina added.
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