look news india
Mumbai: India has strengthened its position in the global Generative Artificial Intelligence (Gen AI) sector and is ranked sixth among leading countries in the Gen AI startup sector. A report said that India’s JanAI funding has increased six times on a quarterly basis in the second quarter of the current financial year.
According to a Nasscom report, India’s GenAI startups have raised $5.10 million in the September quarter, compared to $8 million in the June quarter.
More than twenty funding rounds took place in the September quarter, indicating growing funding activity in the GenAI startup sector. There has been an increase of 3.40 percent in funding on an annual basis.
The generative AI field is growing rapidly and companies providing technology services are restructuring and opening up new capabilities.
The report also said that technology service providers are reevaluating their strategies and increasing investment in technology and talent.