India stood fifth in terms of investments entered by startups offering artificial intelligence (AI)- grounded products and services last time, according to Stanford University’s periodic AI Index report.
India entered$3.24 billion in total investments in AI startups in 2022, outpacing nations like South Korea, Germany, Canada, and Australia. The US, China, UK, and Israel are among the nations that are listed before India.
The Index also shows that India was the sixth- largest nation in terms of AI investments between 2013 and 2022, with backing for AI companies totalling$7.73 billion over the once ten times. This investment was made last time to the tune of about 40 per cent.
The conversational AI establishment Uniphore, grounded in Chennai, raised$ 400 million in a Series- E Round last time, raising its valuation to$2.5 billion, making it the most precious AI incipiency in India. Mad Street Den, an AI company with services in Chennai and the US, raised$ 30 million in a Series C round headed by Avatar Growth Capital, making it one of the time’s largest fund raises.
Despite the fact that the profitable downturn has reduced investment in AI encyclopedically since 2021, experts prognosticate a swell in adventure plutocrat (VC) financing this time, especially in light of the enormous demand for generative AI products like OpenAI’s ChatGPT among both companies and guests.
“Given the unknown interest and the adding assiduity sentiment that it’s a step change in AI capabilities, I anticipate VC investments to gather pace in the coming diggings,” said Kashyap Kompella, an AI critic and principal superintendent of exploration establishment RPA2AI, who spoke to Tech Circle.
Several Indian companies, including Flipkart and MakeMyTrip, are studying the operation of generative AI models in their products, as Mint preliminarily reported. Startups like GupShup and Exotel have also unveiled systems for erecting chatbots that are analogous to ChatGPT and are powered by OpenAI’s GPT models.
likewise, according to the Stanford check, 54 per cent of the experimenters working on large language models( LLMs) were combined with American universities. But last time, scientists from Canada, Germany, and India made their original benefactions to the creation of LLMs.
