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U.S. VC Funding Surge: A Boon for Indian AI Startups
The second quarter of 2024 witnessed a remarkable resurgence in U.S. venture capital (VC) funding, reaching a total of $55.6 billion. This marks the highest quarterly funding total in two years and represents a significant 47% jump from the previous quarter. While this surge is primarily attributed to a growing interest in artificial intelligence (AI) companies globally, it’s crucial to highlight the positive impact this trend has had on Indian AI startups.
India has been steadily carving its niche in the global AI landscape. With a vast pool of skilled talent and a thriving startup ecosystem, Indian AI companies are attracting attention from international investors. The recent surge in U.S. VC funding has opened doors for these startups, providing them with much-needed capital to fuel their growth and innovation.
While the focus is on India, it’s important to acknowledge the broader global context. The increased interest in AI is a worldwide phenomenon, driven by advancements in technology and the growing recognition of AI’s potential to transform industries. The launch of tools like OpenAI’s ChatGPT has further accelerated this trend, fueling investor excitement and confidence in the AI sector.
The surge in U.S. VC funding is undoubtedly a positive development for Indian AI startups. However, it’s important to remember that challenges remain. These startups must continue to innovate and deliver solutions that address real-world problems. They must also navigate the competitive global landscape and strive to build sustainable businesses.
The future looks bright for Indian AI startups. With continued investment and support, they have the potential to become major players in the global AI arena. The U.S. VC funding surge is not just a financial boost; it’s a vote of confidence in the capabilities of Indian AI entrepreneurs and a testament to the growing influence of India in the world of technology.
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Read moreEDUCATION
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Find The Useful AI Resources & Link For The Educators, Students, Researchers & Enterpreneurs
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Artificial Intelligence Events in India & Abroad
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Indian AI industry is growing exponentially. New startups are on the pace of growth. Do you want to know about them? Check here.
StartupsWhat Required For AI Career?
Top Skills For Success in AI
For the successful career in Artificial Intelligence, you may need various skill sets from Math, Science & Computer Science to the Algorithm & software development, harware understanding, Machine learning, Deep Learning, NLP and few others. Check the details below.
Machine Learning
Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed.
Deep Learning
Deep learning is a subset of machine learning in AI that has networks capable of learning unsupervised from data that is unstructured or unlabeled. Also known as deep neural learning or deep neural network.
NLP
Natural Language Processing, usually shortened as NLP, is a branch of artificial intelligence that deals with the interaction between computers and humans using the natural language.
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Top Indian AI Researchers
India has second most number of AI experts in the world after the USA. Few are top experts are listed below.
Sankar Kumar Pal
Distinguished Scientist and Former Director
INSA Distinguished Professor Chair – Indian Statistical Institute
Krothapalli Sreenivasa Rao
Ph.D.(IIT, Madras)
Associate Professor, Information Technology
Associate Professor, Computer Science & Engineering
Chairman, GATE-JAM
Prof. Bidyut Baran Chaudhari
Professor & Ex-Head
Computer Vision & Pattern Recognition Unit
Indian Statistical Institute
Dr. Pushpak Bhattacharyya
Director at Indian Institute of Technology, Patna and Chair Professor of Computer Science and Engineering IIT Bombay
Dr. Sriparna Saha
Associate Professor at Department of Computer Science and Engineering, Indian Institute of Technology, Patna
Sunita Sarawagi
Institute Chair Professor
Computer Science and Engineering
IIT Bombay
Anush Sankaran
Senior Research Scientist at Deeplite, Inc.
Balaraman Ravindran
Professor at Indian Institute of Technology Madras
Few Indian AI Growth Predictions
Don’t take our word for it – here’s what experts say:
AI has the possibility to add $957 billion or 15% of the present gross value – to the Indian economy by 2035. India is the 13th most advanced country the world in terms of the development of artificial intelligence technologies.There are more than 200 AI-based startups in India that are helping different sectors.
Accenture plc
https://www.accenture.com
India could become the hub for data cleaning around the world. The IT services industry could easily transition into human-trainers of AI, a need that already exists (as evidenced by Figure Eight, Clickworker, Gengo.ai, and other players in the human-assisted AI training market
Emerj.com
https://emerj.com
India is the third largest startup ecosystem in the world, with three to four startups being born here daily. We believe India has a major advantage over other countries in terms of talent, a vibrant startup ecosystem, strong IT services and an offshoring industry to harness the power of AI.”
NexTrendsAsia.org
https://nextrendsasia org