LTTS to Provide Comprehensive Support and Expertise to Boost the Generative AI Ecosystem
Bengaluru, NFAPost: In a strategic move to bolster the landscape of Generative AI startups in India, L&T Technology Services Limited (LTTS) has joined forces with Nasscom’s GenAI Foundry initiative. This collaboration aims to provide extensive support to startups operating in the Generative AI space, nurturing their growth and innovation.
Driving Growth in the Generative AI Sector
Nasscom reports that Gen AI startups in India have successfully raised over $475 million in funding from 2021 through May 2023, indicating the rapid expansion and potential of the sector. LTTS is set to play a crucial role in fostering this growth by offering resources and expertise to a select group of startups, facilitating the realization of their innovative concepts.
Among the 26 startups chosen for this initiative, LTTS will engage in a continuous process of mentorship, product development assistance, and innovation roadmaps. The selected startups will benefit from Proof of Concepts aligned with LTTS’s technology trajectory. Additionally, LTTS will conduct boot camps and knowledge-sharing workshops to enhance the domain expertise of these startups.
LTTS’s AI Expertise and Offerings
As a global leader in Artificial Intelligence (AI) and digital engineering, LTTS brings a wealth of expertise to the collaboration. The company’s portfolio includes innovative solutions like AiKno™ and Chest-rAi™. AiKno™ is an AI-driven platform expediting the deployment of AI models, providing enterprises with a seamless integration of AI into their operations.
Chest-rAi™ is a groundbreaking AI tool tailored for radiologists, utilizing deep learning algorithms to analyze chest X-rays and detect abnormalities, facilitating quicker and more precise diagnoses. These offerings exemplify LTTS’s commitment to harnessing the power of AI for the benefit of its clientele and the broader ecosystem.
Leadership Perspectives
Ankit Bose, Head of AI at Nasscom, expressed confidence in the capacity of startups to innovate and transform the AI industry, both domestically and internationally. The collaboration with LTTS, he stated, is a significant step towards equipping these promising startups with the necessary resources and expertise.
Abhishek Sinha, Chief Operating Officer and Board Member of L&T Technology Services, highlighted the company’s eagerness to solidify engagement with the entrepreneurial ecosystem in India. LTTS aims to accelerate the growth of startups in the generative AI sector, making a substantial impact on the digital economy both locally and globally.
Conclusion
The collaboration between L&T Technology Services and Nasscom signifies a concerted effort to propel the growth of Generative AI startups in India. With LTTS’s support and expertise, these startups are poised to make meaningful contributions to the AI landscape, further solidifying India’s position as a hub for technological innovation.
