In terms of AI, the end of 2023 was a bit of a letdown. especially after a year in which it was nearly impossible to ignore ChatGPT, OpenAI, Generative AI, and all the other things that came along with being a part of the purportedly next generation of technology. Naturally, Indian startups were quick to jump on the generative AI bandwagon.
High-Level Discussions Regarding International AI Regulations Will Start To Form: Concerns over the emergence of machines, their potential influence on human jobs, and the risk of less humane and more mechanical decision-making have been voiced ever since artificial intelligence (AI) first gained attention.
And these worries have become more vocal as generative AI gains popularity. In a public letter co-signed by Sharad Sharma, a cofounder of the iSPIRT Foundation, and Rajiv Kumar, a former vice-chairman of NITI Aayog, cofounder and CEO of Zoho, Sridhar Vembu assumed the role in 2023.
High-profile elections will increasingly revolve around the use of generative AI: It is not surprising that lawmakers are eager to develop AI regulations as quickly as feasible given the impending major elections in both the US and India. As previous big elections have shown, disinformation poses a significant threat.
If the US Presidential election of 2015 brought false information to light (do you recall Cambridge Analytica? ), then generative AI is a whole other level.
Businesses Are Heavily Betting On Ethical AI Models: Legislators and the government are primarily focused on elections and law enforcement, but tech entrepreneurs are also working in tandem to develop what is being referred to as “Ethical AI,” or eAI.
It is based on well-meaning and clearly stated moral principles pertaining to what are seen as essential internet rights: privacy, individual liberties, nondiscrimination, and non-manipulation.
AI Models for Indian Languages, LLMs Will Increase in Speed and Funding: Global laws are all well and good, but the home market will present a greater potential for many Indian entrepreneurs. With major debuts (such as Bhavish Aggarwal’s Krutrim SI) and significant seed funding (such as Sarvam AI’s $41 Mn Series A) hinting to what’s to come in 2024, “AI for India” has taken on significant significance in this regard.
The creator of All In Capital, Kushal Bhagia, believes that “AI For India” could take the form of a government push for more digital public infrastructure (DPI). It is probable that this will also give precedence to the creation of large language models (LLMs) based on Indian languages and dialects.
The Dominance of Big Tech Will Show Up in Acquisitions: Why is GenAI becoming so popular now? Big tech is the obvious response. Sure, in 2024 OpenAI will be a major tech. However, US-based computer firms have also seized the lead in GenAI, as we saw in the cloud computing boom, putting them in a prime position to control the market going forward.
The large firms in the GenAI space will only grow larger, according to Prayank Swaroop, a partner at the massive venture capital firm Accel. This is because the industry is driven by reality. In the event that OpenAI is surpassed by Google’s Gemini AI model in certain tests and parameters, OpenAI will undoubtedly lose ground. Thus, the weapons race has officially begun.
Development of On-Premise LLMs and LLM Operations Business Models: In keeping with the theme of novel approaches and surpassing global firms, Indian startups are presently investigating LLM Operations and enterprise deployment of offline or on-premise LLMs for demands peculiar to their organizations.
However, there is a greater likelihood of Indian GenAI startups registering in the US due to the requirement to collaborate with US-based businesses. So, in a way, GenAI startups are kind of following the SaaS model.
This Will Be A Breakout Year For Vertical Generative AI: Will vertical generative AI provide a solution for issues unique to India? Rather than using the global horizontal method, some investors anticipate that greater enterprise adoption would produce a new generation of entrepreneurs in India who can handle vertical difficulties.
The Rise of GenAI Will Boost Marketing Tech: While generative text and graphics are being used by most companies to reduce operational overheads, generative video is expected to see significant growth in 2024 because to its use in marketing and advertising.
Unless there is a significant commercial push, generative video typically requires millions of dollars to operationalize and consumes a lot of resources.
AI-Powered Software Is About to Change Everything: It’s said that software will consume the world, but there’s also a worry that “Software 2.0” will consume software. The use of generated text in machine-coded software was among its initial applications. Examples of people using generative code to recreate well-known apps have been shown.
In the era of GenAI, no-code firms are popping up everywhere. No-code machine learning techniques from Google and Microsoft might be used by companies like Akkio, Levity, Gyana, and the Indian firm Builder.In order to facilitate software deployment and the creation of customized software, AI is developing development tools around this.
Businesses And Indian Startups To Employ Generative AI: We began this view story by talking a little bit about organizations and how Gen AI adoption by this type of business will be crucial. Use cases with an enterprise focus are still in their infancy, and businesses themselves are still learning how to make the most of LLMs and other GenAI tools.
