GENERATIVE AI THE RISING KID ON THE START-UP BLOCK

Artificial intelligence has been on the radar of industries and part of scientific research for ages, since 1950, to be more precise. However, it’s one particular fraction, Generative AI, has been on emergence for some years, with it finally getting its grand public debut with ChatGPT. To say a common man did not know what generative AI meant a year ago, would not be an overstatement

- PAROMITA GUPTA

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