According to reports, India’s AI4Bharat researchers are seeking to secure $12 million in funding from venture capitalists Lightspeed Ventures and Peak XV. They are seeking funds to establish their own AI startup.
Vivek Raghavan and Pratyush Kumar, who developed AI models for speech recognition and translation at AI4Bharat, are set to establish their own enterprise named Sarvam. The primary goal of Sarvam is to provide tailored large language models (LLMs) specifically designed for use cases relevant to India.
According to a report by Reuters, the Indian Government has supported AI4Bharat’s initiative to launch a mobile assistant system. This system aims to provide convenient access to government schemes in various Indian languages.
The rise of generative AI has had a significant impact on the use of AI in India. The government has been actively encouraging the application of AI in various sectors, i.e., education and security. It is no secret that generative AI is bringing about a revolutionary change in every sector.
The Indian government recognizes the potential risks to data security associated with the extensive use of AI. In a recent statement, MoS Rajeev Chandrasekhar emphasized the government’s commitment to regulating AI in order to protect the interests of “digital citizens.”
In recent years, Indian AI startups have attracted significant attention from prominent international players, with industry leaders like Google showing keen interest in their potential.
Google has also recently unveiled the names of 20 startups chosen for its accelerator program. These startups were selected based on their innovative use of generative AI in their business operations.
As part of the program, Google will provide these startups with three months of mentorship and support in various areas, including AI/ML, cloud computing, user experience, Android, web development, product strategy, and growth.