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How Indian Edtechs Are Getting Another Facelift With GenAI Spreading Its Wings

Inc42 · 1y ago

How Indian Edtechs Are Getting Another Facelift With GenAI Spreading Its Wings

The rise of Generative AI (GenAI) is transforming the Indian edtech sector, enhancing learning outcomes and personalization. According to a study, around 62% of Indian educators are using GenAI tools to improve teaching methods and content delivery. With the integration of GenAI, edtech platforms are benefiting from intelligent chatbots, streamlined content creation, and improved user experiences. However, data privacy concerns remain as edtech startups need to ensure unbiased algorithms and protect student information. Despite challenges, experts believe GenAI will continue to advance and become more widely adopted in the future.

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The Enterprise Opportunity: SaaS Startups, India’s IT Giants Riding The GenAI Wave

Inc42 · 1y ago

The Enterprise Opportunity: SaaS Startups, India’s IT Giants Riding The GenAI Wave

Indian IT services companies like TCS, Wipro, and Infosys are embracing GenAI capabilities for various internal and external use cases. These companies are initially using GenAI to optimize operations, but the ultimate goal is to provide GenAI-based solutions to customers. India's digital product startups have been built on the legacy established by IT services giants, making the GenAI revolution significant for the Indian enterprise landscape. Adoption of GenAI is cautious, with companies primarily focusing on streamlining operations and improving customer and employee experience. However, the potential for GenAI to transform large enterprises is immense, and its adoption is expected to increase in the coming years.

Decoding GenAI: 40+ Essential GenAI Terms You Must Know

Inc42 · 1y ago

Decoding GenAI: 40+ Essential GenAI Terms You Must Know

GenAI (generative artificial intelligence) is a rapidly growing trend in the tech industry. In India alone, there are over 100 native GenAI startups, and the global market size for GenAI is projected to reach $552 billion by 2030. With automation becoming more prevalent in business operations, GenAI promises to revolutionize how work is done and improve productivity. It has the potential to impact job roles and reduce the need for manual interventions. To understand and stay updated on GenAI, it is essential to be familiar with the various terms and acronyms associated with it.

How GenAI Adoption Is Set To Change The Course Of Indian Healthcare

Inc42 · 1y ago

How GenAI Adoption Is Set To Change The Course Of Indian Healthcare

The adoption of GenAI (General Artificial Intelligence) in the Indian healthcare industry is still in its early stages, with chatbots being the most common use case. However, Indian startups are increasingly exploring opportunities to leverage GenAI in various areas such as patient communication, clinical documentation, remote monitoring, medical imaging interpretation, and analytics. The potential of GenAI to enhance disease diagnosis and personalized treatment plans is being recognized, with Max Healthcare already using AI-powered tools in its radiology and imaging department. However, ethical concerns, data privacy, bias, and infrastructure limitations need to be addressed for the widespread adoption of GenAI in healthcare.

GenAI Is Redefining Business Paradigms, But Will The Scale Of Change Gobble Up ROI?

Inc42 · 1y ago

GenAI Is Redefining Business Paradigms, But Will The Scale Of Change Gobble Up ROI?

Inc42 and Google Cloud hosted a roundtable in Bengaluru to discuss the adoption of generative AI (GenAI) in businesses. The session covered topics such as practical applications of GenAI and the ROI challenges associated with its adoption. Startup leaders from various sectors including ecommerce, deeptech, agritech, and fintech participated in the event. The discussion revolved around how GenAI can be an enabler for products and services, how it aligns with technology-driven business environments, and the potential benefits and costs of implementing GenAI initiatives. Business leaders emphasized the need to track real benefits and manage costs effectively.

Lessons for Indian IT services firms as Accenture, IBM lead GenAI charge

Livemint

Livemint · 11m ago

Lessons for Indian IT services firms as Accenture, IBM lead GenAI charge

IBM is experiencing a turnaround as it gains more clients for its generative artificial intelligence (GenAI) services. The company's GenAI bookings stood at over $2 billion as of July, while Accenture reported $3 billion in GenAI bookings for the period 2023-24. The growth in consulting business has contributed to the success of both IBM and Accenture, which outpaces Indian IT services companies. Indian IT firms have not reported revenue from consulting or AI practices and have faced challenges with lower client spending on IT services. GenAI revenues are expected to flow from consulting before expanding to other IT segments.

QSR brand Pizza Wings raises $2.8 Mn to expand across India

Entrackr

Entrackr · 5m ago

Snippets QSR brand Pizza Wings raises $2.8 Mn to expand across India. Quick-service restaurant (QSR) brand Pizza Wings has secured $2.8 million in a fresh funding round from marquee investors, including Gruhas—the investment arm of Nikhil Kamath and Abhijeet Pai, Udaan co-founder Sujeet Kumar, and other strategic investors. The fresh funds will be used for expansion plans across Northern and North-Eastern India and to lay the foundation for long-term growth, Pizza Wings said in a press release. Pizza Wings is a homegrown QSR brand that combines international quality standards with Indian taste preferences. The company maintains strict quality control through cold fermentation processes, FSSAI-compliant procedures, and certified ingredients. Their menu features customizable options that cater to diverse regional tastes, developed by an experienced team of chefs. Co-founded in 2014 by Aditya Dhanda, Rajpal Sangwan, and Vikas Nain, Pizza Wings aims to add 50 new stores, scaling its footprint to 100 outlets by the end of 2025, further strengthening its presence in emerging urban centers. To support its growth, the brand is also reinforcing its corporate structure with strategic hires across finance, logistics, and marketing. Pizza Wings states that it continues to drive innovation with its proprietary rider and store management applications, enabling greater operational efficiency and reducing reliance on third-party aggregators. By fostering direct customer relationships, the brand is strengthening its market presence, amassing more than 500,000 app downloads and leading in sales in multiple cities.

Companies expected to increase Gen AI investments by half this year

Livemint

Livemint · 8m ago

Companies expected to increase Gen AI investments by half this year

Companies are set to increase investment in generative AI (GenAI) technologies by 50% by 2025, as per a report. While some believe GenAI will drive productivity and cost savings in IT services, others view it as a risk factor. Despite varied opinions on its impact, firms like Accenture have already seen significant revenue from GenAI-related work. Indian IT companies acknowledge GenAI's influence but have not yet quantified its business potential.

90% of CEOs want to invest in GenAI but 70% don't know how: Aarav Singhal of BCG

Livemint

Livemint · 1y ago

90% of CEOs want to invest in GenAI but 70% don't know how: Aarav Singhal of BCG

The majority of CEOs are eager to invest in generative AI (GenAI), but are unsure about how to proceed, according to Aarav Singhal, managing director and partner at Boston Consulting Group. Singhal stated that while 90% of CEOs see GenAI as a priority for 2024, 70% of them feel they are not doing enough. Singhal emphasized the need to focus on scaling and solving key challenges, and highlighted the three ways GenAI can deliver value: increasing productivity, reimagining processes, and transforming business operations. He advised businesses to emphasize the transformation of people and operations, rather than solely focusing on technology.

30+ Tech Leaders Convene To Share Insights On How GenAI Is Reshaping Startups & Industries

Inc42 · 1y ago

30+ Tech Leaders Convene To Share Insights On How GenAI Is Reshaping Startups & Industries

The second edition of The Tech Horizon highlighted the growth and impact of GenAI in the Indian startup ecosystem. Over 100 native GenAI startups have emerged in India, raising over $600 million in funding since 2019. Google Cloud's Vertex AI, Llama, and Mistral are leading the way in GenAI research and practical applications.

Google’s “AI Overview” can give false, misleading, and dangerous answers

Arstechnica

Arstechnica · 1y ago

Google’s “AI Overview” can give false, misleading, and dangerous answers

Google's AI Overview feature, which provides summarized answers to user questions, has faced criticism for its factual errors. Examples of misleading answers and inaccurate information have surfaced, highlighting the potential harm caused by AI inaccuracy. One common issue is the system treating jokes as facts, with trolls spreading false information being integrated into the authoritative data summary. Another concern is the reliance on poor sourcing, with inaccurate or unreliable sources being cited as reliable information. Improvements in these areas are necessary for Google to enhance the accuracy of its AI Overviews.

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