The need for data science course in Mumbai and analytics specialists is increasing. The rise of generative AI has raised concerns about the influence on employment in the industry. However, enterprises across sectors, not just financial services, are understanding the importance of data analysis. Data scientists, data engineers, business intelligence engineers, and machine learning engineers are among the most in-demand data science positions.
At the time when OpenAI was making ripples throughout the world, India’s GenAI ecosystem was still in its infancy. More than 100 GenAI companies in India have secured over $600 million in funding since 2019.
SarvamAI and Krutrim are leading the shift to construct indigenous LLMs in the GenAI market, which is expected to reach $17 billion by 2030. When OpenAI made ripples throughout the world, India’s GenAI ecosystem was still in its early stages.
However, the country’s GenAI space seems to have made significant progress since then. We not only created India’s first AI unicorn, Krutrim, but also sparked significant interest from investors and entrepreneurs, causing a stir in this field.
As a result, India is home to more than 100 GenAI firms, which have raised over $600 million since 2019.
Today, a vast number of businesses across sectors and industries, from OYO to Unacademy, are using this developing technology to improve user experience and operations.
AI and Mumbai:
Mumbai is now the hottest destination for artificial intelligence. It’s like a crazy tech utopia, with firms and ideas springing up left and right. This city is not just a hotspot for huge dogs, but also a breeding ground for cutting-edge AI research and development.
What about the secret sauce? Mumbai has a great combination of incubators, academic-industry collaborations, and investors willing to throw money at the best ideas. And the money is pouring in, with tech businesses enjoying a 150% increase in investment lately. But that is not all! Companies such as Assert AI are taking AI to the next level with their video analytics offerings.
History of AI in Mumbai:
Let us tell you about the AI craze in Mumbai; it’s been crazy! Back in the 2000s, when AI was just beginning to take off internationally, Mumbai grabbed the wave and jumped on board. You’re aware that the city’s tech industry has been thriving, so it wasn’t long before AI became the next big thing.
The genuine pioneers of Mumbai’s AI game were the research laboratories and businesses that first emerged, attempting to use AI for commercial applications. It was like a spark that sparked the fuse, and before you knew it, AI fever had gripped the city hard! Over the years, Mumbai has achieved numerous significant AI achievements.
2010: The Mumbai AI Lab was founded, formally kicking off the city’s AI grind.
In 2015: local IT businesses launched AInnovation, a strategic project to encourage AI startups and ecosystems.
2018: Top colleges in Mumbai began offering AI courses, allowing the future generation to hone their talents.
AI has turned the IT environment in Mumbai on its head. AI has been making waves in finance, healthcare, education, and retail, helping companies improve their game and keep their consumers satisfied.
According to the Mumbai Tech Association, AI initiatives in these sectors increased by threefold between 2015 and 2020! That’s amazing development, and it demonstrates how rapidly Mumbai is becoming the hub for AI innovation.
There are plenty of institutes in Mumbai offering Data Science course in Mumbai these days. As AI influence increases in different profressional sectors so is the interest from public who are trying to learn more about it.
Mumbai’s Current AI Scenario:
Mumbai is the place to be if you’re into artificial intelligence. It’s like a hub for all the amazing AI companies. Intello Labs is using AI to evaluate the quality of agricultural goods, while Reverie Language Technologies is using AI to translate text into other languages.
These demonstrate what Mumbai’s AI scene is all about. But it’s not just startups; big companies like Amazon, Google, and Deloitte are also participating, indicating that serious innovation is taking place, particularly in AI. We are talking about around 400 AI companies in Mumbai alone.
The local government has also stepped in to help, establishing the Mumbai AI Hub to bring together universities, startups, and major players to collaborate on AI projects.
These are the top five Gen AI firms currently working in the sector and have significantly contributed to its development.
Observe AI:
Sharath Keshava Narayana and Swapnil Jain founded Observe AI, a conversational intelligence platform for call centers, in 2017.
Observe.AI has received a total of $214 million in investment over six stages. It raised $125 million in its most recent fundraising round in 2022.
2. Pixis:
Pixis was founded in 2020 by Harikrishna Valiyath, Shubham A Mishra, and Vrushali Prasade. It offers a codeless AI infrastructure platform for companies to monitor and execute their marketing activities.
Since its founding, the firm has raised $209 million in funding. It received $85 million in its most recent investment round, which took place in 2023.
3. Ola Krutrim:
Krutrim, founded in 2022 by Bhavish Aggarwal, creator of Ola and Ola Electric, is collaborating with GenAI to create an India-specific learning machine.
The firm made news in January 2024 when it became the first pure-play AI startup in India to reach a unicorn valuation after a $50 million fundraising round. So far, it has raised $74 million in investment, making it one of the most well-funded AI firms in the nation, with investors including Matrix Partners India.
4. Sarvam AI:
SarvamAI, founded in 2023 by AI4Bharat developers Vivek Raghavan and Pratyush Kumar, promises to create unique LLMs tailored to India-specific application cases.
The Bengaluru-based GenAI business, which is backed by Peak XV Partners and Khosla Ventures, secured $41 million (approximately INR 342 crore) in Series A investment in December 2023, headed by Lightspeed Venture Partners.
5. Avaamo:
Avaamo, founded in 2014 by Ram Menon and Sriram Chakravarthy, is a deep-learning software firm that uses conversational interfaces to tackle particular, high-impact corporate IT challenges.
Avaamo is developing foundational AI technologies in neural networks, voice synthesis, and deep learning to enable conversational computing for enterprises.
Over the years, Avaamo has secured more than $30 million from Intel Capital, Ericsson Ventures, Streamlined Ventures, WI Harper Group, and Mahindra Partners. In its most recent investment round, which occurred in 2021, it received $7 million.
With over 88 prominent AI startups, like Markytics and ForeignAI, leading the way, Mumbai is consolidating its position as a worldwide AI powerhouse.
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