Today in AI: Biggest AI use case for India, Andrew Ng lauds India’s AI approach, importance of compounding

(Image: Moneycontrol)

According to Amitabh Nag, CEO of Bhashini, language will be one of the largest use cases of AI, which even though diverse, will impact users immediately.

Experts Dr Manish Gupta, Director-Research, Google and Kalika Bali, Prinicipal Researcher, Microsoft Research India added that to fine-tune AI models for understanding languages, the data sets need to be extremely nuanced, capturing the many languages found in various districts of India.

Andrew Ng also mentioned that fears over AI technology are "overblown" and credited India's approach towards AI regulation.

"When there's a new technology like generative AI, it shakes up the global world order and there are new opportunities for everyone - for small companies to become larger and for big companies to do even better" Ng said during a fireside chat at CNBC-TV18 and Moneycontrol Global AI conclave on December 16.

As a result of consistent compounding, startups will become larger businesses worth $50-100 billion in the years to come, per Singh.

Singh shared an example of a unicorn founder whose company generates $100-300 million in yearly revenue and asked how fast he should grow the company next year. The founder suggested that they could grow by 50-55 percent, 70 percent or 40 percent to show more profits. However, Singh advised him that the growth rate didn't matter as long as the company's growth was compounding over several years.