not regulate the growth of AI<\/a>, taking a different approach from many other countries.<\/p>\n\u201cAI is a kinetic enabler of the digital economy and innovation ecosystem. Government is harnessing the potential of AI to provide personalized and interactive citizen-centric services through digital public platforms,\u201d India\u2019s Ministry of Electronics and IT said last month.<\/p>\n
Glimmer of hope<\/h2>\n
With the more established segment of India\u2019s startup ecosystem staying muted\u00a0in the generative AI race, young firms are stepping up to the occasion.<\/p>\n
Startups like Gan, which enables businesses to repurpose videos at scale; TrueFoundry, which assists in building ChatGPT with proprietary data; and Cube, which facilitates AI-powered customer support on social media, are among those leading the charge.<\/p>\n
The surge of interest has prompted nearly all venture funds in India to develop investment strategies in the emerging space.<\/p>\n
Anandamoy Roychowdhary, partner at Surge, Sequoia India & Southeast Asia, pushed back that Indian startups have just started to explore applications around generative AI, saying several have been working on this space for many years.<\/p>\n
\u201cWhat cannot be denied though is the spectacular pace of projects and startup creation post the launch of ChatGPT. The Sequoia India and SEA team have been early to this trend, having partnered with 7 to 8 AI companies across earlier Surge cohorts,\u201d he told TechCrunch.<\/p>\n
Sequoia India and SEA is evaluating at least five firms in this space each week, he said.<\/p>\n
Accel, another high-profile venture firm that has been operating in India for over a decade, said Wednesday that AI is one of the two main themes across the new cohort of its early-stage venture program.<\/p>\n
However, some founders expressed concerns that these AI startups are unlikely to focus on creating their own large language models due to the lack of funding and conviction from investors to support such high compute and other infrastructure expenses.<\/p>\n
An investor, who requested anonymity to speak candidly, cautioned that the current frenzy around AI deals somewhat echoes aspects of the crypto craze in 2021.<\/p>\n
\u201cEveryone wants to do genAI but no one knows how\/what to do. This is the crypto arms race all over again,\u201d the person said. \u201cI doubt most Indian VCs ever really dug deep and understood crypto, because otherwise they wouldn\u2019t have made so many utterly crap investments.\u201d<\/p>\n<\/p><\/div>\n
<\/br><\/br><\/br><\/p>\n
Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/03\/where-is-india-in-the-generative-ai-race\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"Source:https:\/\/techcrunch.com\/2023\/05\/03\/where-is-india-in-the-generative-ai-race\/ Where is India in the generative AI race? 2023-05-03 22:22:07 In the high-stakes race for supremacy in the burgeoning field of generative AI, India\u2019s technology ecosystem is facing an uphill battle to catch up to global leaders. Despite being home to one of the world\u2019s largest startup ecosystems, the South Asian economy has yet […]<\/p>\n","protected":false},"author":1,"featured_media":30908,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-30907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\n
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