John Chambers, former executive chairman and CEO of Cisco Systems, said AI will transform the start-up ecosystem in India.

Citing India's growing importance in the global technology arena, Chambers said "AI is poised to transform every business" and will revolutionise industries from coding to customer support. India is ready to use these "AI opportunities," he said. "This technology is harming business models, and the use of AI has changed so much in the United States so far, and India is ready for it," Chambers said. He added that India can increase its competitiveness with AI.

The Chambers also discussed the impact of AI on India's economy. He noted that start-ups adopting AI technologies will help attract foreign investors. In addition, Chambers predicted that the United States will be the largest contributor to India, which is targeting $100 billion in foreign investment (FDI).

"Learning from failures and trying again will help start-ups 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 crucial role for start-ups in India as well.