AI Index Report, 2023

Context- India ranked fifth in investments based on artificial intelligence (AI), according to Stanford University’s annual AI Index 2023 report.

Key Highlights 

• Global ranking: 

• • • India ranked fifth in 2022 for investment in startups offering AI-based products and services. 
    • India’s total investment in AI-based startups was $3.24 billion in 2022,  ahead of South Korea, Germany, Canada and Australia. , among others. 
    • The US, China, UK and Israel are on the list ahead of India. 
  • Awakening Forecast: 
    • Although global AI investment has decreased since 2021 due to the economic recession, experts expect a revival in venture capital funding this year, especially due to the huge interest of companies and consumers in generative AI products and OpenAI ChatGPT. 

• Research and development of LLMs: 

• • According to the report, 54 percent of researchers working on large language models (LLM) were from US institutions. 
  • Last year, however, researchers from Canada, Germany and India participated for the first time in the development of LLMs. 

AI Index Report 

• The AI ​​Index is an independent initiative of Stanford’s Human Centered Artificial Intelligence Institute (HAI).  
• The annual report tracks, compiles, distills and visualizes AI-related information, enabling decision makers to take meaningful steps to promote AI responsibly and ethically, with people in mind.  

About artificial intelligence 

• About: It is the science and technology of making intelligent machines, especially intelligent computer programs. 
  • It is related to the similar task of using computers to understand human intelligence, but AI should not be limited to methods that are biologically observable. 
• Meaning: AI would not replace humans, but would create new opportunities in various fields. 
  • It works on data, and if we could train our machine, it could do wonders for us in milliseconds by automating processes. 
  • Artificial intelligence creates new possibilities that cannot be achieved with traditional technology.  
• Generative AI: This is technologically advanced artificial intelligence that involves the creation of new, original content or data using machine learning algorithms. 
  • It can be used to create text, images, music or other types of media.  
  • Generative AI trains a model on a large set of data and then uses it to generate new, never-before-seen content  similar to the training data. 
  • This can be done using techniques such as: 
    •  neural machine translation, 
    •  Creating images and 
    •  A generation of music. 
• Startups with AI models in India: Several Indian companies such as Flipkart and MakeMyTrip are exploring the use of generative AI models. 
  • Startups such as GupShup and Exotel have also announced chatbot creation platforms based on OpenAI GPT models that companies can use to create ChatGPT as chatbots.

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