Part 6/12:
- Funding and Support for Startups: The government announced a substantial Rs. 100 crore fund dedicated to AI startups, aiming to catalyze innovation domestically. Despite this, a significant challenge remains—the majority of AI startups generate revenue outside India, often leading to IP and data being held offshore. There is a push to retain IP within the country to foster homegrown innovation.
Challenges and Opportunities
Rahul highlighted the challenge of building AI capabilities from scratch versus leveraging global models. India needs locally trained models infused with Indian languages and context, offering advantages in legal, financial, and healthcare sectors. Training these models locally helps mitigate biases and hallucinations often found in off-the-shelf models.