IT firm L&T Technology Services Ltd (LTTS) is collaborating with Nasscom GenAI Foundry initiative to support start-ups that specialise in the field, in a bid to promote the growth of generative AI in India.
The company aims to fuel the growth of generative AI by offering resources and expertise to a select group of 26 start-ups. The selected start-ups will be mentored and assisted with product development and innovation roadmaps. They will also be provided with Proof of Concepts and participate in boot camps and knowledge-sharing workshops hosted by LTTS to enhance their domain expertise.
Ankit Bose, Head of AI at Nasscom, said, “We have faith in these startups’ capacity to innovate and transform the AI industry, not just domestically, but on an international scale as well. Our collaboration with L&T Technology Services is a significant stride towards that vision, equipping these promising startups with the resources and expertise they require.”
According to Nasscom, a network of over 3,000 member technology companies, gen AI start-ups in the country raised over $475 million in funding from 2021 through May 2023. As a global frontrunner in artificial intelligence (AI) and digital engineering, LTTS has previously established AiKno, an AI-driven platform that expedites the deployment of AI models, facilitating enterprises to incorporate AI into their operations and chest-rAi, an AI tool tailored for radiologists by employing deep learning algorithms to scrutinise chest X-rays and detect abnormalities.
Abhishek Sinha, Chief Operating Officer and Board Member, L&T Technology Services, added, “LTTS aims to accelerate the growth of startups in the generative AI sector, assisting them to pivot, scale, and make a substantial impact both locally and globally. We are optimistic about our alliance with Nasscom, as we aim to cultivate an environment where artificial Intelligence can thrive and contribute significantly to the country’s digital economy.”
(With inputs from BL Intern Sanjana B)