IN FOCUS
In today’s newsletter, we look at:
- A landscape map of India’s genAI startups and the challenges they face
- How OpenAI’s presence in Singapore crowns it as AI hub in Southeast Asia
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Hi there,
I recently came across a viral video where AI turns photos into videos. They’ve become common across platforms like Instagram and TikTok.
They’re fascinating but also a bit eerie, especially when people use the tech to animate photos of those who have passed away. A daughter missing her late mother, for instance, can create a video where the AI makes them “hug” using one of the mother’s photos.
AI-generated videos are one of the major areas where startups are making a mark around the world, including in India. Although the investment figures flowing into the country’s generative AI startups aren’t yet significant – just over US$2 billion – the number of players has increased sharply.
To date, there are more than 200 genAI startups in the country. However, only 49 of them have secured funding, with the majority at the seed stage.
This shows that investors are cautious of which AI startups to invest in India. This contrasts with the US, where pioneer OpenAI alone has secured US$17.9 billion in funding.
In this week’s Big Story, my colleague Samreen maps out the key genAI players in India. She discusses whether the lack of investment is a signal of an emerging bubble or if genAI is poised to become the next major milestone in the country’s startup landscape.
Meanwhile, for the Hot Take, I examine Singapore’s increasingly strong case for becoming Southeast Asia’s AI hub. This is highlighted by OpenAI’s decision to open an office in the city-state later this year – its second in Asia after its Tokyo location.
— Jofie
THE BIG STORY
Mapping India’s key genAI contenders in the global AI race
Image credit: Timmy Loen
THE HOT TAKE
DEEP READS
Not-so-newsflash: AI is no longer a ‘nice to have’
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