The presence and potential of generative AI is so unavoidable that Elon Musk, the business magnate and investor, announced his new venture xAI, with which he plans to ‘understand the true nature of the universe’. This decision comes amid him running his other ventures- Tesla, SpaceX, Neuralink, Boring Company, and Twitter. The AI ecosystem in the country is a flourishing one, with reports stating that more than 4226 startups exist in the space in the country alone. Nasscom, in its recent report, titled xxxx revealed that over 60 active start-ups existed in the generative AI section in the country. However, quantity does not equate to quality, as we are yet to get a native counterpart that can match Microsoft’s ChatGPT, Google’s BARD, or even Apple’s upcoming counterpart. But the space is gaining momentum, with both start-ups and investors having hopes riding on it in the long run and for a greater cause. “Generative AI is potentially more transformative than all previous waves of AI, and it will take an ecosystem-level and a mission-scale effort to build India’s niche in the global Generative AI landscape,” added Sangeeta Gupta, Senior Vice President and Chief of Strategy, Nasscom in the report.
THE RISING START-UPS
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