Generative AI is expected to contribute up to $4.4 trillion to the global economy annually, according to a report by McKinsey. There are only 259 generative AI startups globally, and India is home to less than 20 pure-play generative AI startups. However, Indian startups will play a significant role in automating half of all work between 2030 and 2060, according to the report. As such, funding is expected to shift from generative applications to infrastructure development in enterprises. Here are India’s top eight generative AI startups:
1. Based in Bengaluru, MachineHack hosts generative AI competitions, offers coding challenges, courses, assessments, and has built an AI co-pilot for developers. The company’s generative AI tools are powered by GPT-4 and proprietary algorithms.
2. Rephrase.AI offers a video and animation creation solution powered by advanced AI technology for visual dubbing. The platform assists clients in producing training videos, customizing sales videos, enabling characters to speak in AR/VR environments, and providing digital assistants with lifelike appearances.
3. Mockey is an online mockup generator that leverages AI/ML technology to effortlessly create professional-looking mock-ups for a range of products at no cost.
4. Blend leverages the power of generative AI to assist e-commerce sellers in generating stunning product photos and marketing materials within a minute. The technology can help achieve a 20% improvement in Return on Ad Spend (ROAS) and higher conversion rates on product pages.
5. Probe.AI serves as an AI Copilot for data analysts, designed to assist them in generating SQL code, identifying relevant tables, optimizing SQL code, and providing additional functionalities to streamline their workflow.
6. Revition offers a centralized support system for customer support that uses advanced AI automation tools to help businesses increase sales and reach. Customers can access support from different companies using a single universal ID/account and application.
7. Fasthr.ai is a talent screening platform powered by GPT-4 that aims to revolutionize talent screening by offering effortless screening, accurate identification of top talent with 96% accuracy, faster position filling, and the ability to generate customized tests within seconds.
8. SVAYO is a generative AI and social startup for beauty salons. The platform offers personalized recommendations and services tailored to individual needs and preferences, with a virtual stylist powered by AI recommending services and stylists based on trends that match the users’ selfie.