Gen AI Awaits Indian Investments

Back in 2015, Infosys invested about $1 billion in OpenAI, a non-profit organisation then. That was the last for any Indian IT giant or conglomerate to have invested such a hefty amount in the generative AI space.

The launch of ChatGPT late last year stirred the interest of Gautam Adani, who announced the acquisition of SIBIA Analytics and Consulting for Rs 14.80 crore. In January this year, he announced his plan to set up an AI lab in Tel Aviv and said that the company will collaborate with AI labs in India and the US. It’s been over six months since the announcement without any major development on the ground. 

Similarly, billionaire Mukesh Ambani's investments are predominantly focused on sectors such as telecom, energy, and retail, among others. He has not been extensively engaged in the field of artificial intelligence. In the previous year, Reliance Industries earmarked $15 million to acquire a 25% stake in Two Platforms, a company specialising in cutting-edge technologies for creating engaging and immersive AI experiences.