While e-commerce players have thus far been the heroes of India’s startup story, the rise of India’s AI (artificial intelligence) startups has largely been unacknowledged. This, despite the fact that global tech giants such as Apple, Facebook, Google, Intel, Microsoft, and IBM have expressed interest in Indian startups, and nearly half-a-dozen India-based AI startups have been acquired by global companies in the last 18 months. But, all that looks set to change - both globally, and in India.
Last September, when Apple acquired a small Hyderabad-based company that specialises in helping e-commerce players store, process, and visualise data, and use that data to improve conversion rates, it was another example of a trend that gained traction in 2016. AI is forecasted to generate $47 billion in annual revenues and replace 5 million jobs globally by 2020.
Globally, investors backed more AI companies in the first quarter of 2016 than in any other quarter. In India, more than 200 AI-focused global companies have collectively raised more than $1.5 billion so far in the past year. Driven by evolving technology and a flourishing domestic market, Indian entrepreneurs are increasingly exploring new opportunities in AI and machine learning across a variety of applications and use cases.
Kalaari Capital, as part of its continued endeavour to bring thought leadership dialogue to the startup community, and further the growth of AI startups in the country, is hosting the Artificial Intelligence Summit, featuring speakers and panellists who are industry leaders, with participation from startups, industry experts, academia, and investors who have deep experience and interest in the AI ecosystem. They represent the entire spectrum, from AI experts at global tech giants to startup founders in this space. The aim is to explore and gain a better understanding of the space and what this technology entails for the Indian startup ecosystem.
So, if you’re a professional or an entrepreneur working in the AI space, and looking to grow your business, and learn about the future then the Artificial Intelligence Summit is the ideal destination. The AI Summit will be held in Bengaluru on 13 January 2017. Follow Kalaari on Facebook and on Twitter to catch the live stream of the event this Friday.
The AI Challenge from Kstart
Kstart is also launching the #FutureOfAI Challenge for startups working on next-gen AI ideas. The top 8 startups get an opportunity to present to the Kstart Investment Committee to raise funding. It doesn’t matter if you’ve just started working on your idea or if you already have paid customers. Kstart is inviting the best and brightest in the country to apply for #FutureOfAI Challenge.
Registrations are open till February 15, 2017. Shortlisted startups to present to Kstart IC in late March 2017. If you’re ready to take the challenge, fill out this form right away.
The Kstart survey on AI
If you want to make your voice heard in the space, take part in the Kstart survey on AI, which aims to capture your experiences and opinion. This will help Kstart understand and explore the on-ground reality of this rapidly evolving landscape. Take the survey now and share your experience and views. The findings of the survey will be compiled into a report released in late January. Watch this space for more.
(Disclaimer: Kalaari Capital is an investor in YourStory)