New Delhi, July 7 -- Investment in artificial intelligence (AI) is growing at a galloping pace in India Inc, and while companies are willing to expand their budgets to boost productivity, improve customer efficiency and create a workplace that has humans and bots, boards and promoters are keeping a hawk's eye on the return on investment (ROI), and the risks involved in deploying the technology. Companies are playing the long game on AI, but boards want to know if the investment case is stacking up.

Risks from AI include hallucinations, incorrect interpretations, data and privacy breaches, factors that keep institutions on their toes even as the technology's use gains ground rapidly.

Companies across sectors-from IT to banking to traditi...