New Delhi, June 27 -- Adoption of artificial intelligence (AI) and digital tools for day-to-day operations would power the next level of growth for micro, small and medium enterprises (MSMEs) in India, said executives of fintech and MSME-focussed firms.

The executives also emphasised on awareness among MSMEs about initiatives like Government eMarketplace (GeM) and open network for digital commerce (ONDC) for accelerating transition from micro to small and from small to medium enterprises.

"With lean teams, 70% of MSME owners spend their days firefighting. AI can reclaim that time by automating collections, reconciliation, and fraud prevention, complex workflows that previously required entire teams," said Akash Sinha, Co-founder & CEO, ...