John Chambers, former executive chairman and CEO of Cisco Systems, opined that AI will transform India's startup ecosystem.

Noting India's growing importance in the global technology arena, Chambers said, "AI is poised to transform every business," and will revolutionize industries from coding to customer support. India is poised to tap into these "AI opportunities", he said. This technology is disrupting traditional business models and the US has so far seen massive changes through the use of AI, and India is ready for it," Chambers said. He added that India can use AI to increase its competitiveness.

Chambers also discussed the impact of AI on India's economy. He also opined that startups adopting AI technologies will help attract foreign investors. In addition, Chambers predicted that the United States would be the largest contributor to India's foreign direct investment (FDI) target of $100 billion.

"Startups that learn from failures and try again can help achieve future growth and more FDI," he said.

During a CNBC-TV18 fireside chat at the USISPF annual India Leadership Summit, Chambers said AI will play a critical role for startups in India.