It's been two years since the term 'generative AI' started gaining widespread attention. Although it wasn't new—it appeared on Gartner's 'hype cycle' as early as 2020—by the end of summer 2022, excitement was mounting around genAI tools capable of generating text, images, and computer code.
The estimated $1 trillion investment in generative AI has yet to deliver widespread returns. As with every tech revolution, the hype will fade and real work will begin. This is where India's tech industry stands today—at the crossroads of immense opportunity and significant challenges.
In 2013, the MD Anderson Cancer Center at the University of Texas launched a moonshot project to use IBM's AI-powered Watson system to diagnose certain cancers. By 2017, the $62 million project was paused without being used on patients. Meanwhile, the center's IT team explored smaller-scale cognitive tools for tasks like assisting patients' families, identifying financial aid needs, etc. These efforts proved far more successful. The stark contrast between these two approaches offers valuable insights for anyone planning AI initiatives.
The Indian market is still in its early stages. There has been a 50 percent decline in Indian genAI startup funding in the first half of 2024, compared to that of 2023. While there has been a seven-fold increase in activity by the Indian industry, over half are focused on new product launches.
Most Indian organizations are progressing towards mid-level AI/genAI maturity, with defined strategies and initial use cases aimed at scaling. While 75 percent of the 500 companies surveyed by Nasscom have AI strategies at the proof-of-concept (PoC) stage, only 40 percent demonstrate significant progress in moving to production. Collaborative efforts are driving advancements in telecom, enterprise tools, and retail applications. There is growing emphasis on domain-specific fine-tuning and development of custom, small language models.
This story is from the January 02, 2025 edition of The New Indian Express Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 02, 2025 edition of The New Indian Express Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The twist in Choo Mantar will keep audiences on the edge of their seats
... says Aditi Prabhudeva, who, along with Meghana Gaonkar, Prabhu Mundkur, and Kiran Chandrashekar speaks about the upcoming horror film Choo Mantar
Rajkumar Periasamy teams up with Bhushan Kumar
MARAN filmmaker Rajkumar Periasamy and T-Series managing director and producer Bhushan Kumar have announced a new project.
Growing roots of an urban home
Landscape architect Anita Tikoo's Delhi home, with its interwoven gardens spread across multiple levels, demonstrates the potential of small urban spaces to nurture a life connected to nature.
Independent Cinema Doesn't Have a Support System in India
Producers Guneet Monga and Achin Jain reflect on the shrinking space for indie projects in the country, the rising costs of filmmaking and distribution, and why Kill got a lukewarm response
Brides, Self-Love Is Key
With the wedding season at its peak, celebrity makeup artist Sandeep Molugu, who has worked with celebs like Bollywood star Deepika Padukone and shuttler PV Sindhu, shares key styling tips for brides
DON'T STRESS OUT to avoid rapid ageing, comorbidities
FOR six months, Akshay (name changed), an expat in Dubai, had been experiencing abdominal bloating sensation, pain in the abdomen, and constipation.
Raising the bar pays off for hockey coach Sangwan
A SNUB can either break one down or spur the individual on to scale new heights. Unfortunately, a majority of people end up heartbroken. But a better future awaits those who manage to swallow the bitter pill. Haryana hockey coach Sandeep Sangwan falls under the second category.
Focus on TOPS list as new-look MOC set for 1st significant meet today
NEW Year, new dawn, so it seems for the sports ministry's Mission Olympic Cell that is expected to meet on Tuesday.
Finding Roots of Enigmatic Cummins
The Australian captain's on-field success and personality off of it are intertwined and it goes back to his upbringing
Maiden ODI call-up for Bist against Ireland
AFTER nine white ball fixtures in less than a month, three against Australia in the away series and six against West Indies at home, India's regular captain Harmanpreet Kaur and pacer Renuka Singh Thakur have been rested for the three ODIs against Ireland.