The lines between tech and deeptech are blurring across the world and India is no exception. Deeptech has become an integral part of the everyday lives of many citizens. Artificial intelligence (AI), machine learning, the Internet of Things (IoT), big data and robotics are some of the advanced technologies used by businesses today to stay ahead in the competition. India has grown to become a hub for deeptech and there are more than 3000 deeptech startups spreading the industry and catering to the needs of different customers. The pandemic has become a driving force for tech adoption and sustainability and it has given a much-needed boost to the deeptech industry.
Despite the steady growth, the alarming trend of deeptech funding has taken a downturn. Many investors are more cautious with their decisions and are looking out for profitable units and operations rather than astronomical valuations. To make matters worse, IPOs and M&A tend to be rare in the sector. Many tech experts feel that in order to become successful, deeptech companies must solve problems in the real world and make profits that would show investors the value of their businesses. It is also important to value the Intellectual Property (IP) apart from immediate revenues and profits. To create a separate trust and give a buffer for the retail investors, the businesses must have a sustainable and profitable business model.
In the upcoming years, as businesses look to grow in India and the market, privacy will take center stage. Across the world, laws are being made and amended to protect the data of the users and give them better control over it. Apple, for example, is using privacy as a differentiator and to make the users feel secure. To protect the sensitive enterprise information from leaving the system, few regulations are being implemented at a state level.
ChatGPT is a mesmerizing technology but with huge privacy concerns. Companies are becoming cautious of the usage of the technology due to these concerns. To make sure users’ data is secure, many companies are looking at open source models that can be integrated and deployed on the company data centers.
Overall, deeptech is an exciting industry to work with and building products that can differentiate the company from its competitors is the key to become successful. With the right regulations and policies in place, the deeptech industry is expected to thrive in India.
This article was written based on the discussions of various tech and deeptech experts at the recently concluded Entrepreneur India’s Tech & Innovation Summit 2023 in Bengaluru.
The subject of the article was ChatGPT and the Future of AI in India. ChatGPT is an AI-powered chatbot platform that enables companies to chat with customers and helps organizations to automate customer service conversations and address customer queries using natural language processing and machine learning. The platform was founded by Vyom Bhardwaj, the founder of Muoro.io, a leading AI-enabled enterprise automation platform. Sharmin Ali, the founder and CEO of Instoried, a marketing automation platform, is also a fan of ChatGPT for its amazing capabilities. Sunil Kumar, the CTO at Shiprocket, focuses on solving user problems and has been a long-term believer in the power of deeptech. CEO at TeamLease HRtech, Sumit Sabharwal has also taken part in various discussions on the importance of user experience and problem-solving.Ramprakash Ramamoorthy, director of research at ManageEngine, believes that privacy is the next big differentiator in the future of AI and deeptech, and has voiced his opinion that it should become a commodity.Similarly, Manikandan Thangarathnam, senior director of platform engineering at Uber for Deeptech, is of the opinion that differentiators are the way to go for deeptech businesses, and his perspective has been shared at many AI and deeptech forums.Shashank Mohan Jain is the Chief Development Architect at SAP Labs India, and he is an expert on ChatGPT. He has expressed concerns about security of data within the company when using the technology and the need for offering stricter guidelines for its usage within businesses.
The expert opinion shared above offers a unique insight into the future of AI in India and the potential of the deeptech industry. With few regulations, policies and proper investments in place, the industry is sure to make a mark in India and across the world.
