#Chetan Krishnamurthy VP Ecosystem and Digital Sales Asia Pacific IBM

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GenAI in India: Tech Industry Partnerships Catalyze Adoption

The likes of IBM, Tech Mahindra, Google Cloud, Netapp, Deloitte, ServiceNow and the likes are all jumping into the GenAI bandwagon. APAC News Network explores the dynamics of some of these partnerships.

GenAI or Generative AI is fast gaining grounds in India, especially in terms of acceptance by different stakeholders. These include the different enterprises across different verticals using GenAI in different facets of their businesses. Another stakeholder has been the Indian GenAI-based SaaS startups whose numbers too are rapidly rising every year. Add to this the IT services giants and software giants who too are jumping into the GenAI bandwagon. Last but not the least, the government too is supporting the GenAI revolution with proactive policy formation and creating appropriate implementation environment in the country.

Worldwide there is an explosion in the number of Gen AI-native SaaS companies and a surge in investment capital, with over $12 billion funneled into 60+ emerging domains in FY23 alone. The Indian players, on the other hand, raised $590 million in funding during the same time period.  While globally there are 259 generative AI startups as of 2024, in India there are around 20+ pure-play generative AI startups.

Also Read More Here : https://apacnewsnetwork.com/2024/04/genai-in-india-tech-industry-partnerships-catalyze-adoption/