| | | | | | THE WEEKLY NEWSLETTER OF AIM Monday, 05 Aug, 2024 | Was this email forwarded to you? Sign up here By Amit Raja Naik, Editor AT AIM | | | | | | | Meanwhile, Bengaluru-based generative AI startup Simplismart, founded by Amritanshu Jain and Devansh Ghatak, raised $7 million in a funding round led by Accel, with participation from existing investors, including Anicut Capital, First Cheque, Sunn91 and Shastra VC. The list goes on. Bengaluru-based ToyStack.ai raised $325,000 in pre-seed funding led by angel investors D Devaraj and Asit Shetty to further develop their automated deployment tool, expand their team, and enhance sales and marketing efforts. There’s more: | | | | | | | In focus: Reliance Jio-backed TWO seems to be in a different league altogether. The company is redefining human-AI interaction with SUTRA, a multilingual and cost-efficient GenAI engine, powering products like ZAPPY, Geniya, and ChatSUTRA to bring AI to billions in over 50 languages. | | | | | | | | | | | | | The same goes for Beatoven.ai, which recently raised $1.3 million in its pre-series A, led by Entrepreneur First and Capital 2B, bringing its total funding to $2.42 million. Meanwhile, its competitors, Udio and Suno AI have raised $10 million and $125 million, respectively. | | | | | | | | | | | | | | OpenAI recently acquired Rockset, a data analytics company co-founded by former Meta engineers Dhruba Borthakur and Venkat Venkataramani, for $105 million to enhance GPT-6's retrieval infrastructure, integrating Rockset's advanced real-time indexing and analytics capabilities to improve data processing and reduce AI model hallucinations. | | | | | | | | | | | | | | AI breakthroughs: MeitY-backed startup Netrasemi is all set to tape out a 12 nm AI chip this year in a bid to revolutionise edge AI with cost-effective, power-efficient chipsets, positioning India as a key player in the global AI hardware market. | | | | | | | | | | | Swiggy recently unveiled Hermes, an in-house text-to-SQL AI tool, enabling faster and smarter food deliveries by allowing teams to generate and execute SQL queries via natural language prompts in Slack. FireCompass, a SaaS startup with a presence in Bengaluru, recently launched Agent AI for ethical hacking, enhancing its platform with generative AI-powered autonomous penetration testing to significantly improve testing coverage, productivity, and cybersecurity threat mitigation. | | | | | | | Personate AI, the Delhi-based bootstrapped startup behind AI anchors Krish and Bhoomi for Doordarshan and Sana for Aaj Tak, is leveraging large vision models (LVMs) for pixel generation, similar to OpenAI’s Sora and Google’s Imagen, and text-to-speech models to create ultra-realistic virtual anchors. The company, co-founded by Rishab Sharma and Akshay Sharma, is transforming content delivery for over 25 enterprise customers. | | | | | | | | | | | | | Former Tech Mahindra chief CP Gurnani and InterGlobe (IndiGo) group managing director, Rahul Bhatia’s AI startup, AIonOS, recently partnered with Indosat Ooredoo Hutchison to launch the AI3 initiative, aiming to transform Indonesia into an AI-driven economy by introducing advanced AI-led solutions across various industries. | | | | | | | | | | | | | | Now is the best time to build an AI startup in India: | | JioGenNext's latest cohort, MAP’24, also featured 10 generative AI startups across sectors like healthcare, banking, legal services, and agriculture. | | | | | Best Firm for Data Scientists | | Best Firm for Data Scientists is one of India's biggest workplace certification platforms in data science. To nominate your organisation for the certification, fill out the form . | | | | | | | | | | | Masterclass on Optimising RAG Models for Enterprise-Grade Accuracy | | | AI Forum, in partnership with AIM & NVIDIA, is set to host a virtual workshop focusing on the optimisation of retrieval-augmented generation (RAG) models to achieve enterprise-grade accuracy. | | | Date: August 9, 2024 Time: 3:00 to 4:30 pm IST | | | | | | | | | India’s biggest AI conference is just around the corner. Mark your calendars for Cypher 20204! The Cypher India edition is scheduled to be held in Namma Bengaluru from September 25 to 27, while Cypher US will be held in Santa Clara, California from November 21 to 22, 2024. What are you waiting for? Register today! | | | | | | | | | | | - NVIDIA CEO Jensen Huang is said to visit India for the AI Summit 2024 in Mumbai from October 23-25, highlighting their partnerships and advancements in AI infrastructure, including the introduction of the B100 chip and support for India's AI startup ecosystem.
| | | | | - Midjourney released Version 6.1 of its image model, featuring more coherent images, enhanced textures, improved text accuracy, and faster processing, along with a new personalisation model, set to become the default for all users.
| | | - GitHub launched GitHub Models, enabling over 100 million developers to become AI engineers by providing access to leading AI models, an interactive playground for experimentation, and seamless integration with Codespaces and Azure for production deployment.
| | | - Google launched Gemma 2 2B, a 2 billion parameter model offering best-in-class performance across diverse hardware, advanced safety classifiers, and research tools, outperforming GPT-3.5 on the Chatbot Arena leaderboard and optimised for efficient deployment in various environments.
| | | - Canva acquired generative AI company Leonardo.Ai to enhance its AI design capabilities, integrating Leonardo's advanced AI models and team of 120 experts to accelerate innovation and empower 190 million users with cutting-edge visual communication tools.
| | | - Meta released Segment Anything Model 2 (SAM 2), a unified segmentation model for precise object selection in images and videos, featuring robust zero-shot performance, real-time interactivity, and advanced video processing capabilities.
| | | | | | | | | | | | | Reach out to us at info@aimmediahouse.com Stay tuned for more insights in our next edition! | | We love hearing from our readers! Have thoughts on our new format? Questions, comments, or ideas are always welcome. If there’s a specific topic in AI or analytics that you're curious about, tell us! | | | | | | | | |
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