Ponting out the issues faced in terms of receiving funding for initiating AI pilot projects, she seems to indicate that the current Indian AI and startup funding ecosystem is not mature enough to be comparable to the US or even China.
“The problem that we have faced I think is funding in areas where our field is very niche. In India, IP is developing lots of interest, but we’re nowhere near the US or other countries.”
Komal was far from being alone in her lamenting AI’s lack of VC funding. Backing up her statement, she further added:
“I think the government has realized that we need to have a formal policy in place so that there’s a mission statement from them as to how AI should evolve in the country so it’s beneficial at large for the country.”
Moving forward, she suggested how the Indian government’s future stratedgy around AI might be focused on:
“We think AI could have a great impact in health sector. There is a scarcity for good doctors and nurses, with AI the machine can do the first round of diagnostics. Staff can carry machines with them to help cut down in the physical presence needed for doctors.
The government is really encouraging startups to have AI applications that really have a social impact (AI in health, AI in education, etc), where startups compete to solve social problems.”
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