Emergent's recent funding round, led by Bengaluru-based Creaegis and supported by notable investors like Khosla Ventures and SoftBank Vision Fund 2, underscores the increasing interest and investment in India's AI capabilities. The company, which focuses on enabling non-technical entrepreneurs to create applications, reported that around 12 million apps were built on its platform in the past year.
This development is part of a broader trend, as highlighted by Deepika Giri from IDC Asia Pacific, who noted that nearly half of Indian enterprises are experimenting with AI solutions. Despite these advancements, experts caution that India still faces challenges, such as a lack of domestic cutting-edge chip production and data center capacity compared to global leaders.
However, India's strong IT services sector and a vast talent pool position it well for future growth in AI. Prime Minister Modi's vision for India to become one of the top three AI superpowers reflects the country's ambitions, although access to foundational AI models remains a critical hurdle.
Neil Shah from Counterpoint Research estimates that it will take several years for India's AI ecosystem to mature significantly