Indian Startups to lead Generative AI Space

By Anand Krishnan --
Monday, 20 May, 2024

Generative AI (Gen AI) has revolutionized industries globally, with tech giants and startups vying to push its boundaries. From creating stories to designing visuals and advancing software development, Gen AI's potential is boundless. Since the launch of ChatGPT, the technology has seen rapid advancements, with notable contributions from Anthropic’s Claude AI, Google’s Gemini, Meta’s Llama, and others. The progress is been awe-inspiring. However, amidst this global rush, there lies a crucial question, how to carve a niche and what next?

The TCS AI for Business Study reveals that a significant 69 percent of businesses prioritize AI for fostering innovation and increasing revenue over merely improving productivity and reducing costs. Whereas most intriguing findings is the anticipated role of generative AI in the workplace.
Nearly half of the respondents expect that up to 50 percent of their workforce will need to leverage generative AI capabilities within the next three years. Additionally, 41 percent believe that even more employees will be using these advanced tools, signaling a significant shift towards AI-driven job functions.

Harrick Vin, Chief Technology Officer at TCS, emphasized that achieving AI maturity is a marathon, not a sprint. Enterprises are now recognizing the complexities involved in transitioning from experimental phases to full-scale AI integration. The study underscores the necessity for a strategic approach to AI adoption. It suggests that businesses should develop robust performance indicators to measure the impact of AI technologies on their operations.

As we have seen a sudden flux of Indian startups creating domain-specific AI models. The big question is whether team India will be able to sustain this trend? Although India boasts a wealth of skilled professionals across various sectors, but the way forward is to collaborate and innovate.

Industry specific AI models is the order of the day, to the likes of healthcare, finance, education, or e-commerce, addressing pain points and providing highly relevant solutions will give team India the much needed boost.

As the country is moving towards digitization, domain-expert AI services is another emerging trend which can offer solutions that truly resonate with the customers. Unlike the generalized services of global tech giants, these specialized models ensure relevance and effectiveness for their intended users.

Furthermore, the potential of AI-powered healthcare advisors offering affordable services in rural areas or AI systems revolutionizing financial management for small businesses is limitless. We are already seeing big AI Engines like Jio thrusting the market, with domain-expert AI solutions, team India can become invaluable partners to India’s growing businesses.

Conclusively there is no denying, Indian startups are ready to solve real-world problems with targeted AI solutions, paving the way with a transformative approach in various sector.

Indian Startups to lead Generative AI Space. Generative AI (Gen AI) has revolutionized industries globally, with tech giants and startups vying to push its boundaries. From creating stories to designing visuals and advancing software development, Gen AI's potential is boundless. Since the launch of ChatGPT, the technology has seen rapid advancements, with notable contributions from Anthropic’s Claude AI, Google’s Gemini, Meta’s Llama, and others. The progress is been awe-inspiring. However, amidst this global rush, there lies a crucial question, how to carve a niche and what next?

The TCS AI for Business Study reveals that a significant 69 percent of businesses prioritize AI for fostering innovation and increasing revenue over merely improving productivity and reducing costs. Whereas most intriguing findings is the anticipated role of generative AI in the workplace. 
Nearly half of the respondents expect that up to 50 percent of their workforce will need to leverage generative AI capabilities within the next three years. Additionally, 41 percent believe that even more employees will be using these advanced tools, signaling a significant shift towards AI-driven job functions.

Harrick Vin, Chief Technology Officer at TCS, emphasized that achieving AI maturity is a marathon, not a sprint. Enterprises are now recognizing the complexities involved in transitioning from experimental phases to full-scale AI integration. The study underscores the necessity for a strategic approach to AI adoption. It suggests that businesses should develop robust performance indicators to measure the impact of AI technologies on their operations.

As we have seen a sudden flux of Indian startups creating domain-specific AI models. The big question is whether team India will be able to sustain this trend? Although India boasts a wealth of skilled professionals across various sectors, but the way forward is to collaborate and innovate.

Industry specific AI models is the order of the day, to the likes of healthcare, finance, education, or e-commerce, addressing pain points and providing highly relevant solutions will give team India the much needed boost.

As the country is moving towards digitization, domain-expert AI services is another emerging trend which can offer solutions that truly resonate with the customers. Unlike the generalized services of global tech giants, these specialized models ensure relevance and effectiveness for their intended users.

Furthermore, the potential of AI-powered healthcare advisors offering affordable services in rural areas or AI systems revolutionizing financial management for small businesses is limitless. We are already seeing big AI Engines like Jio thrusting the market, with domain-expert AI solutions, team India can become invaluable partners to India’s growing businesses.

Conclusively there is no denying, Indian startups are ready to solve real-world problems with targeted AI solutions, paving the way with a  transformative approach in various sector.