Thanks for the mention Nivash Jeevanandam PhD . We definitely believe in the power of the Indian ecosystem to lead the AI applications layer and innovation. This will be a watershed moment for indian companies to build for the world.
Senior Researcher and Author at INDIAai Portal (Ministry of Electronics and Information Technology, National E-Governance Division, NASSCOM) - National Artificial Intelligence Portal of India
From Bengaluru to Boston: The global ascent of Indian AI startups in 2024 India's AI startup ecosystem is rapidly growing, driven by investments in AI, ML, IoT, and blockchain technologies. Tier II and III cities are emerging as innovation hubs fueled by local talent and cost advantages. According to the Freshworks AI Workplace Report, Indian companies display the highest global confidence in AI, with 79% planning to increase AI budgets in 2024. This report represents an average spending increase of 41%, the largest globally, showcasing India's leadership in AI integration. In 2024 alone, India’s #AI #startups raised $560 million in funding, driven primarily by early-stage investments, a 1.25x increase from 2023. A moneycontrol.com report indicates a 20-30% increase in recruitment among startups in 2024, reflecting the sector's resilience and expansion. Additionally, job cuts in the startup ecosystem have declined significantly, with #layoffs decreasing by 46% from 2023. Read the complete story here: https://lnkd.in/dxKGvwJ3 nasscom Ministry of Electronics and Information Technology Digital India Programme INDIAai SAP KOGO Visionet Systems Inc. Raj K Gopalakrishnan Sandeep Agarwal Adarsh Ram Shakoor Rather Anjali Raja Milin Stanly Suyash Gaur #Bengaluru #Boston Layoffs.fyi