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…